Photonic Crystals Market size is forecast to reach $70.2 billion by 2026, after growing at a CAGR of 11.1% during 2021-2026. Photonic crystals are periodic optical nanostructure that regulates the flow of light. Increased use of solar power over conventional coal and oil is driving the market growth, as Photonic Crystals are used in solar and PV cells to convert light energy into electricity photovoltaic effect. The rise in the use of anti-reflecting coating or anti-glare coating on camera lenses and eyewear to reduce reflection is also driving the market growth. Furthermore, the surging use of photonic crystals in biomedical applications such as bio-molecular screening and real-time monitoring of biomolecules is also contributing to the growth of the Photonic Crystals Industry worldwide.

COVID-19 Impact
The pandemic has severely impacted the communities, people, and business and this impact may remain for quite a long time on some industries. COVID 19 has hindered the market growth of the Photonic Crystals Market. The aerospace and defense the primary user for photonic crystals, will face cash-flow shortages due to reductions in demand, production challenges, and issues throughout the supply chain caused by the pandemic. Moreover, the defense contractors will likely experience slowing demand and a slower growth curve over the long term as national governments seek to reduce deficits and control expenses, which will further hinder the photonic crystal market growth.

Photonic Crystals Market Segment Analysis – By Structure

Two-Dimensional photonic Structure segment held the largest share of more than 35% in the Photonic Crystals Market in 2020. The Two-Dimensional Photonic Structure has a dimensional cross-sectional design, comprising of cylinders, hexagonal lattice, honeycomb lattice, and others, which prevent the propagation of light with a certain frequency. Moreover, the Two-Dimensional photonic crystals interact with ultra-cold atoms, are identical particles demonstrating quantum behavior both in their interaction with photons and in their motional degrees of freedom. Besides, 2d photonic crystals are easier to analyze, formulate, and fabricate compared to 3d photonic crystals. These 2d photonic crystals are mainly used in optical fiber and biomolecular sensors. Therefore, due to these properties, there is a high demand for two-dimensional photonic structures in the market.

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Photonic Crystals Market Segment Analysis -By Application

Optical Fiber Cables segment held the largest share of more than 25% in the Photonic Crystals Market in 2020. The photonic crystal-based optical fiber cables offer greater control over light and design freedom to achieve a variety of peculiar properties, which is not possible in conventional optical fiber. Moreover, these photonic crystals enable optic fiber to have a zero-dispersion wavelength, at any desired wavelength, which is useful for nonlinear application where normal dispersion is a limiting factor. Photonic crystal fiber is being widely used in fiber optic communication, fiber lasers, high power transmission, and highly sensitive gas sensors. Moreover, these photonic optical fibers are used to transfer large amounts of data at very high speeds. In defense operation, these fiber cables are used for faster data transmission and are a major factors contributing to their use for military purposes. Therefore, the growing defense industry will also increase the demand for optical fiber cables.

Photonic Crystals Market Segment Analysis – By End-Use Industry

The Aerospace & Defense segment is projected to witness a CAGR of 7.4% during the forecast period owing to the wide use of image sensors and optical fibers for greater communication. An image sensor is a device that allows the camera to convert photons that is light, into electrical signals that can be interpreted by the device. In military use, this can be done via satellites, drones, and UAV to capture the image of the terrain of a particular area. Therefore, any increase in demand for aerospace will further drive the demand for Photonic Crystals. As per American Aerospace Industry (AIA) report in 2019, the American aerospace & defense industry revenue was $929 billion for 2018, with an increase of 4.2% from 2017. Such, growth in aerospace and defense will increase the demand for image sensors and optical fibers which in return will drive the market for Photonic Crystals Market.

Photonic Crystals Market Segment Analysis – By Geography

Asia-Pacific is projected to witness the highest CARG of 13.4% in the photonic crystals market during the forecast period. Photonic Crystals are widely used in the manufacturing of led displays for TV, phone, and tablets, and solar cell for the energy & power industry. The APAC region dominates the electronic industry both in production and consumption and Japan, China, India, and South Korea are the major countries in the region contributing to the market growth. As per Indian Brand Equity Foundation (IBEF) report in 2020, the electronics hardware production in the country increased from Rs. 1.90 trillion ($ 31.13 billion) in 2014 to Rs 4.58 trillion ($ 65.53 billion) in 2019. Moreover, in February 2019, the Indian Ministry of Electronics & Information Technology passed The National Policy on Electronics (NPE) to boost electronic manufacturing in the country. Thus, the growing electronic sector across the region will fuel the demand for the photonic crystal market.

Photonic Crystals Market Drivers

Innovation of the Next Generational Quantum Dots (QD)-LED is Driving the Market

Quantum Dots is an important material for developing next-gen displays. The high quantum efficiency and fine full-width properties of Quantum Dots (QD) provides the high efficient displays along with a wide color range as compared to other displays. Additionally, the material used for Quantum Dots display is aided with photonic crystals along with a photonic stop band to improve the light extraction. Furthermore, the photonic crystals enable to development of high-intensity QD-LEDs with moderate use of QD, which helps in reducing the amount of cadmium and overall cost of the display. This further results in manufacturing environmental-friendly and competitive QD-LED products. Therefore, companies are more focusing on combining Quantum Dots and photonic crystals to provide highly efficient and brighter TVs, laptops, tablets, and mobile displays, and also improve the LED lighting.

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Photonic Crystals Market Challenges

Complex design and manufacturing process

The complex manufacturing process of the photonic crystal especially to construct on a three-dimensional scale is likely to hinder the growth of this market. Manufacturing a high-dimensional photonic crystal faces some significant challenges such as making them sufficiently precise to prevent any scattering loss, which blurs the characteristics of the crystals. The other major challenge is to design the processes in such a way that the crystals can be strongly mass-produced. Therefore, difficulty in the manufacturing of photonic crystals hinders the market growth. In addition, photonic crystals are normally custom-made and are intended to operate at a certain frequency that can be central or mid-band. And at present, the best bandwidths obtained reflect 20-30 percent of the central frequency, until the photonic bandgap existence is no longer seen for that unique crystal beyond this activity frequency.

Photonic Crystals Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Photonic Crystals Market report. Major players in the Photonic Crystals Market is Furukawa Electric Co. Ltd, Luna Innovations, Inc., NKT Photonics A/S, MKS Instruments, Inc., Lockheed Martin Corp., GLOphotonics SAS, Micron Technology, Inc., Gooch & Housego PLC, NeoPhotonics Corp., IPG Photonics Corp., and Corning, Inc., and among others

Acquisitions/Technology Launches

In December 2020, Luna Innovations Inc., acquired OptaSense Holdings Ltd., a company providing fiber optic solutions for pipelines, oilfield services, security, highways, railways, and power and utilities monitoring systems. With this acquisition, Luna Innovations will expand its product offering and increase its footprint in the oil & gas and power industry. And also help Luna Innovation to create the world’s largest fiber optic sensing company.

In January 2019- IPG Photonics Corp., acquired the submarine networks division (SND) of Padtec SA, a communications equipment company based in Brazil. This acquisition enabled the IPG to leverage core pump laser and fiber amplifier technology to advance the market for submarine networking systems.

Key Takeaways

North American region is projected to witness significant growth in the market due to the strong presence of the aerospace & defense and pharmaceutical industry. Whereas, the USA holds the largest share in the region throughout the forecast period.

The use of photonic crystal offers various advantages like low power consumption, high reflectivity, and a high resolution of pixels per inch.

Complexity in the manufacturing of the photonic crystal in hindering the market’s growth.

COVID-19 has hindered the market growth for Photonic Crystals Market, due to decline growth in the aerospace and electronics industry.

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