Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Micromachining Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, June 08, 2021 (GLOBE NEWSWIRE) -- The Global Micromachining Market is expected to grow at a CAGR of around 6.9% from 2020 to 2027 and reach the market value of over US$ 4.0 Bn by 2027.
Micromachining is a unique fabrication process that provides innovative solutions in a myriad of microengineering applications for industrial and research purposes. This is used to form a variety of components from sheets of metal or slices of silicon like a variety of 3D micro components. Micromachining plays an important role in the miniaturization of components like biomedical applications, chemical microreactors, and sensors. Additionally, micromachining tools may be as small as 0.001 inches in diameter.
The global micromachining market is segmented on the basis of type, technique, axis, application, end-use industry, and geography. On the basis of type, the market is divided across lithographic, laser micromachining, electro discharge machining, electrochemical machining, micro ultrasonic machining, hybrid machining, and others. Based on technique, the micromachining market is studied across bulk micromachining and surface micromachining. Additionally, based on-axis, market is divided across 3-axes, 4-axes, 5-axes, and others.
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Micromachining has application across micro hole drilling, cutting, 3D machining, scribing, contouring, micro-milling, welding, surface treatment, and others. Moreover, the end-use industry encompasses automotive, semiconductor & electronics, aerospace & defense, medical & aesthetics, telecommunications, power & energy, plastics & polymers, gems & jewelry, and others including machine tools & manufacturing, watchmaking, and glass.
On the basis of technique, bulk micromachining is preferred over surface micromachining in the 2019 micromachining market. Bulk micromachining is a simple and inexpensive fabrication technology to fabricate a micromachined device as compared to surface micromachining and is especially well suited for applications that require only simple microstructures. To be specific, bulk micromachining builds mechanical elements by starting with bulk material, and then etching away unwanted parts, and being left with useful mechanical devices. Basically, the substrate (Ceramics, Metals & Alloys, Polymers, or Glass & Quartz.) is photo-patterned by a protective layer on the parts of the substrate that needs to be retained as a final product. The substrate is later etched using a dry chemical etch process, wet chemical etches process, reactive plasma etch process or photo-etch process. These etch processes “eat away” the exposed substrate material left after the photo-patterned.
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The Asia Pacific accounted for the maximum revenue share (%) in the micromachining market and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. Additionally, the region is also estimated to exhibit the fastest growth over the forecast period from 2020 to 2027. The major developing economies of the region including China and India are the major revenue contributors as they are undergoing major technological as well as economical improvisation which is not only creating demand but also supporting the growth of newer technologies in the market. Furthermore, Asia Pacific is followed by North America in the micromachining market.
Some of the leading competitors are Amada Weld Tech Co., Ltd., Coherent, Inc., Electro Scientific Industries, Georg Fischer Ltd., Han’s Laser Process Industry Group Co., Ltd., Heraeus Holding GmbH, IPG Photonics Corporation, Lumentum Holdings Inc., Makino Milling Machine Co., Ltd., Mitsubishi Heavy Industries, Ltd., OpTek Ltd., Oxford Lasers, and others. The major players are continuously involved in strategic development activities like mergers and acquisitions, partnerships and collaborations, and new product development.
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Some of the key observations regarding the micromachining industry include:
- Amada Miyachi America Inc. has secured a multi-million dollar, multi-system order in 2019 for ultrashort pulse laser micromachining. This recently received multi-system order is likely to be installed in a major United States-based medical device manufacturer.
- Safety Technology Holdings (STH) has acquired UK-based OpTek Systems in 2019. OpTek Systems is an international supplier of laser processing tools and sub-contract laser machining services.
- 3D-Micromax AG has unveiled a laser-based high-volume preparation solution for semiconductor and materials failure analysis in 2018. The new solution named microPREP PRO has been developed jointly with the Fraunhofer Institute for Microstructure of Materials and Systems (IMWS). This complements existing approaches to sample preparation like focused ion beam (FIB) micromachining, which are offering up to 10,000 times higher ablation rates.
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