Diffraction Gratings Market Report Overview
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The global diffraction gratings market size was USD 324.2 million in 2022 and is expected to reach USD 322.9 million in 2028, exhibiting a CAGR of 5.5% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with the diffraction gratings market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
A diffraction grating is an optical element with a periodic structure that divides and diffracts light into a number of particles that move in various directions according to wavelength. In the field for science and remote sensing, on the production line for cutting-edge machine vision, and in the lab, diffractive optics certainly brings high-performance spectral analysis using hyperspectral or raman into the field.
The market is primarily driven by a variety of end-user sectors, including spectroscopy, telecommunications, and laser applications, as well as for use in research and education. Because downstream consumption typically follows established economies with strong economic growth, like the BRICS, developed economies nowadays prefer to invest in underdeveloped regions.
COVID-19 Impact: Significant Negative Influence on the Market due to Lack of Materials and Disruption in the Supply Chain
The COVID-19 pandemic began to affect people worldwide at the beginning of the year 2020, and it has since spread to nearly every nation on earth. The pandemic issue has had a significant negative influence on the diffraction gratings business. COVID-19's effects include a lack of materials and subcontractors, disruptions in the supply chain, and contract terminations in an effort to reduce costs. The market for gratings has had slower growth during the epidemic, but it is anticipated to pick up speed quickly once economic activity has resumed.
Latest Trends
"Most Powerful Laser System will Help Researchers Pave the way in Various Fields"
The world's most powerful laser system, which is expected to have a peak power of up to 10 petawatts (quadrillion watts), will utilize brand-new high-energy pulse compression gratings created by researchers at Lawrence Livermore National Laboratory (LLNL) and their collaborators. At the ELI-Beamlines Facility in the Czech Republic, the L4-ATON laser system will have the high-energy, low-dispersion (HELD), multi-layer dielectric gratings installed. The development of multi-petawatt lasers paves the way for ground-breaking research in fields like plasma and high-energy density physics, astrophysics, laser-driven particle acceleration, improved medical diagnostics, industrial processing methods, and nuclear material detection.
Diffraction Gratings Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Ruled Gratings and Holographic Gratings
In terms of product, Holographic gratings hold the largest segment.
- By Application Analysis
Based on application, the market can be divided into Monochromator and Spectrometer, Laser, Optical Telecom, Astronomy and Others
In terms of application, Monochromator and Spectrometer holds the largest segment.
Driving Factors
"Use of Grating in Space Missions to Acquire Astronomical Spectra"
Many different optical investigations and applications can make use of diffraction gratings. Laser wavelength selection, pulse compression, telecommunication, laser scanners, and holograms are all common applications for gratings. Especially intriguing is how they are applied to space missions for acquiring astronomical spectra. The fact that every element in space has a distinct discrete spectrum based on its consistency allows for extensive investigations of the stars and other celestial objects thanks to spectroscopy techniques. In order to produce wave interference in the UV or infrared spectrum for astronomical imaging, reflection gratings are often needed. A star's composition, velocity, and temperature can all be observed and studied using gratings.
"Use of Gratings in Government Research Centers to Examine the Qualities of Various Substances"
A rising number of synchrotrons and free electron laser facilities worldwide employ the blazing diffraction produced by Inprentus. These substantial government research centers employ diffraction gratings in their spectrometer and monochromator instrumentation. They examine the qualities of materials, medicines, environmental science, physics, and life sciences using infrared, ultraviolet, and x-ray light, advancing the fundamental research of a wide range of major companies. The core invention of Inprentus consists of a special mix of precise motion control, material processing, software, metrology techniques, and clean room environment controls that when put together can produce ultra-high quality of the gratings for the synchrotron market.
Restraining Factors
"Due to the Surface Imperfections the Gratings have the Drawback of Producing Significant Stray Light "
Even while diffraction are well known for their many benefits in a wide range of fields, they also have a number of drawbacks that can prevent the diffraction gratings market growth from expanding throughout the projected period. Due to surface imperfections, they have the drawback of producing a significant amount of stray light when used in grating spectrometers. It is also challenging to guarantee great homogeneity across expansive areas.
Diffraction Gratings Market Regional Insights
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"Growing Sales and Steady Manufacturing use in Healthcare in the Region is aiding North America to lead in the Market"
Due to the increasing sales of the product there, North America is predicted to occupy the largest portion of the diffraction gratings market share. Additionally, the region's growth is probably going to be boosted by the steady manufacturing use in healthcare. The area controls a sizable portion of the global gratings industry.
Due to the existence of growing nations like India and the increased need for electronics, Asia Pacific is predicted to experience tremendous growth. These elements have assisted the area in overtaking North America to reach second place globally in the diffraction gratings industry.
Key Industry Players
"Frequent Acquisitions and Strategic Alliances as some Tactics Utilized by Players to Strengthen their Production Facilities"
It is anticipated that the industry will continue to be driven by innovation, with frequent acquisitions and strategic alliances serving as the main tactics used by the players to expand their market share. To increase margins in the interim, refining their product mix and continuing to develop value-added skills. Manufacturers are making use of this circumstance by strengthening their production facilities and supply networks to prevent any delays in production turnaround times (TAT) and supply lead times.
List of Market Players Profiled
- HORIBA (Japan)
- MKS Instruments(Newport Corporation) (U.S.)
- Edmund Optics (U.S.)
- Shimadzu Corporation (Japan)
- Kaiser Optical Systems (U.S.)
- Lightsmyth (Finisar) (U.S.)
- Plymouth Grating Lab (U.S.)
- Zeiss (Germany)
- Optometrics (Dynasil) (U.S.)
- Headwall Photonics (U.S.)
- Spectrogon AB (Sweden)
- Jenoptik (Germany)
- Spectrum Scientific (U.S.)
- Photop Technologies (China)
- Wasatch Photonics (U.S.)
- GratingWorks (U.S.)
Report Coverage
This report covers the diffraction gratings market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 324.2 Million in 2022 |
Market Size Value By |
US$ 322.9 Million by 2028 |
Growth Rate |
CAGR of 5.5% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global diffraction gratings market expected to touch by 2028?
The global diffraction gratings market is expected to touch USD 322.9 million by 2028.
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What CAGR is the diffraction gratings expected to exhibit during 2022-2028?
The diffraction gratings market is expected to exhibit a CAGR of 5.5% over 2022-2028.
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Which are the driving factors of the diffraction gratings market?
Use of grating in space missions to acquire astronomical spectra and Use of the gratings in government research centers to examine the qualities of various substances are the driving factors of the diffraction gratings market.
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Which are the top companies operating in the diffraction gratings market?
HORIBA, MKS Instruments(Newport Corporation), Edmund Optics, Shimadzu Corporation and Kaiser Optical Systems are the top companies operating in the diffraction gratings market.
