The latest research study “Photonic Crystals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global photonic crystals market size reached a value of US$ 49.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 81.9 Billion by 2027 exhibiting a CAGR of 8.20% during 2022-2027.
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What is Photonic Crystals?
Photonic crystals refer to periodic dielectric optical nanostructures designed to form the energy band structure to display the motion of photons. They are used to control, manipulate, and diffract light, especially photons. They are widely available in three types: one-, two-, and three-dimensional (1D, 2D, and 3D). While 1D crystals are manufactured by depositing thin film layers, 2D photonic crystals are created by drilling holes or photolithography. On the other hand, 3D crystals are formed by drilling specific layers and stacking 2D layers. Since they enable the size reduction of photonic crystal-based components, photonic crystals find extensive applications across various industries.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Photonic Crystals Market Trends and Drivers:
The global photonic crystals market is primarily driven by the widespread product adoption across numerous end use industries, such as healthcare, life sciences, information technology (IT), commercial, aerospace, and defense. Besides this, the rising usage of photonic crystals in the commercial sector to interact with ultracold atoms and produce optical dispersion, light emission patterns, and photon-mediated coherent communications has augmented product demand.
Moreover, rising demand for light-emitting diode (LED) products is another major growth-inducing factor. Additionally, governments of various countries are taking favorable initiatives to promote the adoption of green photonics to lower greenhouse gas (GHG) emissions from transportation, land usage, and agricultural activities. In line with this, the surging product adoption in photovoltaic (PV) cells, bio sources, optical fibers, image sensors, lasers, supercontinuum sources, and discrete optical components has catalyzed market growth.
Other factors, including the increasing product usage for trapping solar energy, rising investments in research and development (R&D) activities in the electrical engineering field, and escalating demand for light-emitting diode (LED) products, are also anticipated to drive the market further.
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Global Photonic Crystals Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, type, application and end user.
Breakup by Type:
- 1-D Photonic Crystals
- 2-D Photonic Crystals
- 3-D Photonic Crystals
Breakup by Application:
- Optical Fiber
- LED
- Image Sensor
- Solar and PV Cell
- Laser
- Discrete and Integrated Optical Component
- Others
Market Breakup by End User:
- Industrial
- Aerospace and Defense
- Life Sciences and Healthcare
- Research and Development (R&D)
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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