Laser safety glasses absorb/filters or lessen the light transmission of a specific wavelength. It is utilized for self-protection from internal factors such as medical, industrial, weapons training, logistics, and R&D. In the military, laser safety glasses shield the user from enemy laser attacks. It is extensively utilized in the healthcare sector, mainly in dermatology and dentistry. In addition, it is utilized in the metal fabricating processes such as additive manufacturing, engraving, 3D printing, welding, and cutting. Thus, increasing usage of laser machines in several end-use sectors is driving growth of the laser safety glass market.
In a recent market study published by Future Market Insights (FMI), the global laser safety glass market is anticipated to expand at a remarkable CAGR of 10% during the assessment time frame of 2019-2029. Stringent government regulations concerning the personal protection equipment usage would remain vital in boosting the demand for laser safety glass.
Recent Developments in Laser Safety Glass Market
With the advancement in laser technology, sales of glass laser safety eyewear will grow at a robust CAGR through 2029. The laser protective face shields category will reflect a noteworthy value CAGR of 12% during the projected period. Some other innovative laser safety glasses include polycarbonate laser safety glass, thin-film glasses, and intense pulse light (IPL) safety glasses.
Laser technology has advanced over the years, as a result of continuous R&D activities. Market players are also focusing on providing unique personal protection and secure eyewear which offers safety.. With rising implementation of these advanced technologies, end-use industries are opting for advanced glass laser eyewear rather than its conventional counterparts such as polycarbonate laser safety glass and are creating an incremental prospect in the laser safety glass market.
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COVID-19 Impact Analysis
The production of laser safety glasses is affected mainly by the COVID-19 outbreak. As a result, a majority of the manufacturing operations is delayed, and the market players are confronting short-term operational issues. Moreover, the COVID-19 outbreak has directed towards lack of site access and supply chain constraints.
The market players operating in the laser safety glass market are uvex group, 3M, Honeywell International Inc., Thorlabs, Inc., and Phillips Safety Products, Inc., which are likely to hold 30% of the global market value and generate revenue of over US$ 50 Mn.
Majority of the companies are depending on online sales of laser safety glass. Companies such as the uvex group, and Philips Safety Products are offering discounted coupons as part of their promotional campaigns. A few other market players functioning in the market include Kentek Corporation, Univent Optical Technologies, Laser Safety Industries, Global Laser Ltd., NoIR Laser Company LLC, and VS Eyewear. Moreover, market players are targeted towards M&A with international or regional players.
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