According to the latest report by IMARC Group, titled “Photonic Crystals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global photonic crystals market size reached US$ 54.3 Billion in 2022. Photonic crystals are microporous materials with periodic optical nanostructures designed to control the motion of light, specifically photons. These dielectric materials have a band gap that forbids the propagation of certain light frequencies, thus allowing better control over light behavior. Photonic crystals are fabricated using various processes, such as holographic laser lithography, phase-mask holography, direct laser writing, direct ink writing, sol-gel method, and nanoimprint lithography (NIL). They are widely used in optical fibers and switches, microlasers, waveguides, lens coating, high-speed communication, power transmission, biosensing, drug delivery, and solar cells. Photonic crystals are cost-effective, flexible, and highly reflective materials that are easy to process, help to improve device efficiency, and can emit vibrant colors simultaneously.
Photonic Crystals Market Trends:
The significant growth in the aerospace and defense industry is one of the primary factors driving the market growth. Photonic crystals are widely used in image sensors of drones, remote sensing satellites, and unmanned aerial vehicles (UAV) to produce high-efficiency lasers for air and missile defense systems. In addition to this, increasing investment in military modernization and the development of advanced weapons is acting as another growth-inducing factor. Furthermore, the widespread product utilization to produce next-generation light-emitting diodes (LEDs) and displays for traffic lights, digital signage, and advertising boards with improved quality, enhanced performance, increased reflectivity, lower power consumption, high pixel density, and enhanced brightness is providing an impetus to the market growth. Additionally, the recent development of photonic crystal fibers that provides superior control of guiding properties, high damage threshold, very low nonlinearity, excellent temperature immunity, and high performance for wide-ranging applications in lasers, optical communication, sensors, and quantum optics is positively influencing the market growth. Apart from this, the introduction of a new fabrication technique to produce high-quality photonic crystals using high-resolution lithography and anisotropic ion etching is favoring the market growth. Moreover, increasing product utilization in biomedical applications, such as drug delivery, photodynamic therapy, biosensing, tumor screening, and real-time monitoring of biomolecules, is propelling the market growth. Other factors, including rising product demand in quantum technology, increasing investment in research and development (R&D) of novel products, and the widespread product adoption in anti-reflective coatings, are anticipated to drive market growth. On account of the aforementioned factors, the market value is expected to reach US$ 89.1 Billion by 2028, exhibiting a CAGR of 8.13% during 2023-2028.
- On the basis of the type, the market has been divided into 1-D, 2-D, and 3-D photonic crystals.
- Based on the application, the market has been classified into optical fiber, LED, image sensor, solar and PV cell, laser, discrete and integrated optical component, and others.
- On the basis of end user, the market has been divided into industrial, aerospace and defense, life sciences and healthcare, research and development (R&D), and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Corning Incorporated, Furukawa Electric Co. Ltd., GLOphotonics SAS, Gooch & Housego, Hamamatsu Photonics K.K., IPG Photonics Corporation, NKT Photonics A/S, Opalux Inc., Palo Alto Research Center Incorporated (Xerox Corporation), Photonic Lattice Inc. (Photron) and Teledyne Technologies Incorporated.
|Base Year of the Analysis
||Type, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Corning Incorporated, Furukawa Electric Co. Ltd., GLOphotonics SAS, Gooch & Housego, Hamamatsu Photonics K.K., IPG Photonics Corporation, NKT Photonics A/S, Opalux Inc., Palo Alto Research Center Incorporated (Xerox Corporation), Photonic Lattice Inc. (Photron) and Teledyne Technologies Incorporated
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