The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global photonic crystals market, in terms of value, is estimated to witness growth at a CAGR of 8.5% between 2017 and 2021. The increasing demand as well as growth rate for photonic crystals in the market is attributed to their growing usage in applications of optical fiber, LED, image sensors, and solar & photovoltaic (PV) cell, among others, in the industrial, aerospace & defense, life sciences & healthcare and other end-use industries.
The photonic crystals market is driven by a number of factors such as superior properties of photonic crystals over metals and the increased demand of photonic crystals from varied end-use applications. The property of reflecting light within a specific frequency range, unlike metals, which reflect light in all the frequencies, make the photonic crystals a preferred choice in the aforementioned applications.
The report is a compilation of various segmentations including market breakdown by photonic crystals type, application, end-use industry, and different geographical regions. It also includes sections on competitive insights and market dynamics. Herein, the revenue generated from the photonic crystals market is tracked to calculate the market size.
While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive analysis of the application areas of the photonic crystals market. It also examines the role of the leading market players involved in this market.
The report addresses the following key questions about the global photonic crystals market:
- What is the market size in terms of revenue from 2017-2021 for the global photonic crystals market?
- What is the market size in terms of revenue for type such as one-dimensional, two-dimensional and three dimensional, in the global photonic crystals market?
- What is the revenue generated by the different applications in the photonic crystals market?
- What is the market size in terms of revenue for applications such as optical fiber, LED, image sensor, solar & PV cell, laser, discrete and integrated optical components, and others?
- What is the market size in terms of revenue for end-use industries such as industrial, aerospace & defense, life sciences & healthcare and others (research & development)?
- Which type, application and end-use industry of the photonic crystals will dominate the photonic crystals market during the forecast period?
- What is the market size in terms of revenue generated by different applications with respect to geographical regions in the global photonic crystals market?
- What are the major factors which will be driving the photonic crystals market forward during the forecast period?
- What are the major opportunities and factors challenging the growth of the global photonic crystals market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- Which are the existing key market players that have made a mark in the photonic crystals market?
The report has put a special emphasis on the market share regarding the type, applications and end-use industry of the photonic crystals, globally. The industry analyses have also been undertaken in order to examine the impact of various factors and to understand the overall attractiveness of the industry.
The most often used strategy for developing a better hold on the market has been through new product launches, followed by merger & acquisitions. The company profiles section includes highlights of significant information about the key companies involved, along with their financial summaries and key strategies & developmental activities since the past few years.
Some of the key players in the photonic crystals market are MKS INSTRUMENTS, INC., NKT Photonics A/S, Corning Incorporated, NeoPhotonics Corporation, GOOCH & HOUSEGO PLC, Furukawa Electric Co. Ltd, Hamamatsu Photonics K.K, Lockheed Martin Corporation, IPG Photonics Corporation and GLOphotonics. These companies provide a diversified product portfolio for specific needs and industrial applications.
Two-dimensional photonic crystals dominated the global photonic crystals market with a share of approximately 67% in 2016. The photonic crystal caters to the demand of a number of application verticals, which is the primary reason behind its significant market presence. On the basis of application, optical fiber application dominated the photonic crystals market in 2016. The rising demand for fiber optics is due to the increase in the demand of the smartphone, since it utilizes optical fibers for LED light. On the basis of end-use industry, industrial segment dominated the photonic crystals market in 2016. This dominance is expected due to the increase in the usage of photonic crystal in telecommunication, electronics, laser, and solar energy based products, among others, as photonic crystals are used to stimulate enhanced light trapping to make use of solar energy.
On the basis of geography, Asia-Pacific (APAC) dominated the photonic crystals market, followed by North America and Europe. This growth is attributed to the increasing demand of photonic crystals based devices from various countries such as China, Japan, India, South Korea, among others, in the Asia-Pacific region. Additionally, APAC has the highest potential to grow in the forecast period due to the presence of emerging economies such as China and India.