Laser Induced Forward Transfer market size was valued at $210.4 million in 2020, and it is estimated to grow at a CAGR of 5.1% during 2021-2026. The growth is mainly attributed to the increasing demand for miniaturized electronics and high application of direct laser writing assisted printings in material science for 3D microstructures and this further propels the laser pulse induced forward transfer market. The market growth is attributed to the factors such as rapid industrialisation, growing demand from textile and packaging industries and others. Moreover, growing demand of printing for e- commerce also boosts the market growth. The high cost of the equipment and installation cost hinders the market growth of digital printing and thereby LIFT printing. Moreover, high cost of inks, maintenance and support costs also plays the role in hindering the market growth.
Laser Induced Forward Transfer Market Segment Analysis – By Ink Type
LIFT printing market is segmented into Aqueous, Solvent, UV-cured, Latex, Dye sublimation and others. The UV- Cured ink type segment held the highest market share in 2020 at 35.1%. Moreover, it is anticipated to witness significant market growth during the forecast period 2021-2026. UV inks do not dry in the air. They don’t have evaporative properties and don’t need them. Like liquid plastics, they respond only to exposure to UV radiation, which allows the liquid to solidify. This ensures that approximately 100 % of the ink amount is used, which greatly decreases printing costs. Furthermore, since the ink does not dry until it is healed, it is possible to leave the printing cells with ink on them, even during the weekend, without the need for cleaning and without dried-on ink. UV inks provide other advantages such as being more environmentally sustainable than solvent-based inks, strong clarity, light-fastness, smearing tolerance, clear contrast and a pleasant gloss.
Laser Induced Forward Transfer Market Segment Analysis – By End User Industry
Electronics is the fastest growing segment in Laser Induced Forward Transfer market and is estimated to grow at a CAGR of 7.2% during the forecast period 2021-2026. The growth is mainly attributed to the increasing investments in electronics industry and this drives the market growth. This technique produces electronic circuits on paper, a substrate that is flexible, cheap and recyclable. Printed electronics is gaining increasing interest due to its low cost and possibilities of production on different substrates compared to traditional electronic methods. This has further increased the demand of the laser induced forward transfer market during the forecast period.
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Laser Induced Forward Transfer Market Segment Analysis – By Geography
North America dominated the Laser Induced Forward Transfer market in 2020 with a market share of 37.86, followed by Europe and APAC owing to the early adoption of advanced technologies and presence of major players increases the market growth. Additionally, increasing research and development activities and high investments further fuel the laser induced forward transfer market. Laser printers had the luxury of providing bright, smooth black text and images in colour. Laser printers are capable of engendering a very excellent print and are non-impact printers with a countless set of fonts and are simplex in nature. Laser printers are both cost-effective and have high output speeds as opposed to inkjet printers. Lasers can manage massive workload involving a printer suitable of servicing wider teams or projects. Lasers are getting increasingly available, and regular or super-sized pellets have an exceptional life cycle, producing excellent outcomes even on plain paper, and have become the cornerstone of work unit design.
Laser Induced Forward Transfer Market Drivers
Benefits Associated with LIFT Technique Drive the Market Growth
Laser Induced Forward Transfer (LIFT) technique allows high resolution deposition of material in the solid or liquid phase. This mechanism overcomes the problems of nozzle clogging and permits high resolution bio-printing. This technique has also been used to print mesenchymal stem cells (MSCs) and human umbilical vein endothelial cells (HUVECs) onto a cardiac patch, in order to promote angiogenesis and improve cardiac function. This is poised to drive the market growth.
Advancements in various technologies
Growing trend for miniaturization and increasing customization within the sectors such as electronics, photonics, plasmonics, micromechanics and biomedical technology is set to drive the market growth. Additionally, fabrication of complex 3D structures drives the demand for laser induced forward transfer (LIFT) technique. Printing of complex free standing microstructures fuel the market growth.
Laser Induced Forward Transfer Market Challenges
Printing thin films
Printing thin film is the major challenge in laser induced forward transfer market. Printing thin film in solid phase or small volume droplets in liquid phase with high very resolutions restricts the market growth. The major disadvantage with this technique is lower cellular viability compared to other bio printing methods. It is also a time consuming process and this hampers the laser induced forward transfer market growth.
Laser Induced Forward Transfer Market Landscape
Research and Development activities is the key strategies adopted by players in the Laser Induced Forward Transfer market. Laser Induced Forward Transfer top 10 companies include Orbotech Ltd, Mycronic AB, Precise Bio Inc, Univ GuangDong Technology, Photon Jet Ltd, Precise Bio 3D Ltd, Abengoa Solar New Tech SA, Henkel AG & Co KGAA, and others.
In May 2021, BOLD Laser Automation developed its LPF-UR5P Series laser microfabrication system with a modular UR Cobot pallet system. The system includes options for laser drilling, trimming, welding, marking, LIFT printing and laser soldering.
In December 2020, 3D-Micromac Eliminated Critical Process Bottlenecks to microLED Display Manufacturing with New Laser Micromachining Platform.
North America dominated the Laser Induced Forward Transfer market in term of revenue in 2020 owing to the investments on advanced technologies.
Increasing trend for miniaturization and adoption of the laser technique in printed electronics boost the market growth.
Printing thin films is the major challenge that hampers the laser induced forward transfer market growth.
A. Digital Textile Printing Market
B. Digital Printing Market
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