PALM BEACH, Fla., Oct. 27, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary: While laser welding, hole punching and cutting have been known for many years, laser cleaning technology is still considered niche… that is growing every year. It has not been used in industry for a long time, despite the possibility of removing most of the organic contaminants. Laser cleaning refers to removing contaminants from surfaces by the use of laser ablation. Today, a wide range of systems based on pulsed lasers are used for cleaning or removing coatings. Laser equipment is used to remove a layer of paint from delicate surfaces, remove insulation from wires, clean the surface, remove rubber vulcanization residues on tire molds, etc. All these operations can be referred to as "cleaning" in one way or another. The development of laser cleaning has been driven by the need for non-abrasive and safe cleaning that can replace the use of chemical solvents and mechanical abrasive systems. One of the key issues that characterize most conventional cleaning methods is substrate damage and negative impact on the environment. Abrasive cleaning damages delicate surfaces and is accompanied by large amounts of contamination. The use of chemical solvents is accompanied by liquid waste and potentially hazardous fumes. Problems like these led to the creation of the first laser cleaning systems. The benefits of laser surface cleaning include: non-contact / non-abrasive process; no chemical solvents or abrasive particles; reduction of pollution volumes; possibility of automation; and improved safety issues. A report from 360 Research said that: "The Global Laser Cleaning market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2029. In 2020, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon." Active Companies in the markets today include: Laser Photonics Corporation (NASDAQ: LASE), IPG Photonics Corporation (NASDAQ: IPGP), Lumentum Holdings Inc. (NASDAQ: LITE), Novanta Inc. (NASDAQ: NOVT), AXT, Inc. (NASDAQ: AXTI).
"North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Laser Cleaning. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market. Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2022-2029. Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future."
Laser Photonics Corporation (NASDAQ: LASE) BREAKING NEWS: Laser Photonics Announces First Sale of 3000 Watt Handheld Cleantech Laser System - First 3000 Watt Laser Cleaning System sold will be used in the mining industry - Laser Photonics Corporation ("LPC"), a leading global developer of Cleantech laser systems for laser cleaning and other material applications, today announced the first sale of the CleanTech 3000-CTH, the world's first industrial-grade 3000-watt laser cleaning system. The system will be used by an Australian mining concern. This transaction was a multi-hundred thousand dollar sale and there is an opportunity for a follow-on unit to be purchased.
"Our first-of-its-kind, state-of-the-art 3000-watt handheld laser blasting system was designed for the harshest of conditions," said Wayne Tupuola, chief executive officer of LPC. "This very high-power product is strong enough to address the duty demands of the heaviest outdoor industrial operations, and its deployment in the mining industry is the perfect business use case."
The CleanTech Laser Blaster 3000-CTH, a 3000-watt handheld blaster, includes an advanced air optics protection system that prevents air contamination from dust and debris associated with cleaning byproducts. Additionally, the system has a standalone, integrated cooling system utilized alongside the laser, allowing work in harsher environments with high temperatures typical of the mining industry. Alternatively, the unit may be cooled with a heat exchange system if the company factory has access to its water source. CONTINUED… Read this full release for Laser Photonics at: https://www.laserphotonics.com/news-information
Other recent developments in the markets include:
IPG Photonics Corporation (NASDAQ: IPGP) will release its third quarter 2022 financial results before the market opens on Tuesday, November 1, 2022. The company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the company's website at investor.ipgphotonics.com.
Lumentum Holdings Inc. (NASDAQ: LITE) recently announced that it has expanded its manufacturing operations and advanced R&D in Škoflijica, Slovenia for specialty optical fibers that are essential components of many Lumentum products. This expansion more than doubles Lumentum's manufacturing and R&D footprint in Slovenia.
"I am very excited about the manufacturing and advanced R&D expansion in Slovenia," said Alex Schoenfelder, senior vice president and general manager of commercial lasers. "Specialty optical fibers are a key enabling component for industrial fiber lasers and increasingly for other new applications in the industrial, life sciences, and communications markets. Our team in Slovenia has given us unique fibers that enable differentiated performance and cost."
Novanta Inc. (NASDAQ: NOVT) recently said it will release its third quarter 2022 results on Tuesday, November 8, 2022.
The Company will host a conference call on Tuesday, November 8, 2022, at 10:00 a.m. ET to discuss these results. To access the call, please dial (888) 346-3959 before the scheduled conference call time. Alternatively, the conference call can be accessed online via a live webcast on the Events & Presentations page of the Investors section of the Company's website at www.novanta.com.
A replay of the audio webcast will be available approximately three hours after the conclusion of the call on the Events & Presentations page of the Investors section of the Company's website at www.novanta.com. The replay will remain available until Monday, January 02, 2023.
AXT, Inc. (NASDAQ: AXTI) recently announced a preliminary revenue range for its third quarter, ended September 30, 2022. AXT's full financial results for the third quarter of 2022 are not yet available.
AXT expects preliminary revenue for the third quarter of 2022 to be in the range of $34 to $35 million, below the company's previously stated guidance of $39 million to $41 million provided on July 28, 2022. The preliminary revenue range for the third quarter of 2022 is primarily attributable to weakening macroeconomic conditions, particularly in the demand environment in China.
"Though we continue to feel confident about our participation in a number of exciting technology trends and Tier-1 opportunities, our business is not immune to the effects throughout the supply chain of a deteriorating macroeconomic environment. We are disappointed by the impact to our near-term growth, but we remain confident in our strategy and business opportunity across our key markets," said Morris Young, chief executive officer.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Laser Photonics Corporation by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com - +1 (561)325-8757
View original content: https://www.prnewswire.com/news-releases/global-laser-cleaning-technology-market-booming-as-industry-applications-expand-301661005.html
SOURCE Financialnewsmedia.com