By 2024, the laser marking market will reach $3 billion

According to the latest report from the market research company marketsandmarkets – the global laser marking market forecast, by 2024, the global laser marking market will grow from $2.1 billion in 2018 to $3 billion in 2024, with a compound annual growth rate of 6.0%. . The key factor driving the growth of the global laser marking market is that more and more end users from all walks of life are starting to use laser marking, and on the other hand, laser marking is more powerful than traditional material marking technology. The performance advantage：

Fiber laser marking machine will occupy an important market share

During the forecast period, fiber laser marking machines will occupy the largest market share in the marking machine market. High output power, flexible fiber output light, compact form factor and high optical quality all contribute to the development of fiber laser applications. Fiber lasers use fiber optics as an active gain medium to provide a variety of functional modes for laser marking and engraving in military, medical, semiconductor and electronics, and scientific research.

Laser marking applications in the packaging industry will grow at the highest compound annual growth rate

During the forecast period, the demand for laser marking applications by end users in the packaging industry will grow at the highest compound annual growth rate.

Most packaging companies must mark many different pieces of information on the product, such as the expiration date, batch, and serial number, as labels attached to the product. Laser marking is ideal for marking at the end of the production process, and this standard is suitable for multiple materials, including cardboard, paper, and polymers. Laser marking is a non-contact process that does not apply any mechanical force to the product package. The combination of these factors is the main driving force behind the highest growth rate of laser marking machines in the packaging industry.

Hardware products occupy the largest share of the laser marking market

From the perspective of the products and services offered, in 2018, hardware products for laser marking accounted for the largest share of the laser marking market. This is mainly because the market has higher hardware requirements for various types of laser marking systems. Lasers, controllers, filters, rotating devices, galvanometers and power supplies are the basic hardware components of laser marking machines and engraving machines.

Machine tool end users lead the laser marking market

According to the end user, during the forecast period, machine tool users will occupy the largest share of the laser marking market. In terms of market size, the leading position of this market segment can be attributed to the ability of laser marking to provide permanent letter and digital detail marking. The information marked includes product and brand name, batch number, manufacturer code, 1D and Product-related details such as QR code, trademark, design, and manufacturing date.