Global Chemical Vapor Deposition Market Will Likely To Expand At A Steady Cagr 7.70% By 2025
Chemical Vapor Deposition Market: Snapshot
Chemical vapor deposition (CVD) is a widely used material processing technology. It is a process employed to produce high-performance and high-purity solid materials. The technique is appropriate for the manufacture of powders, coatings, monolithic components, and fibers. This technique is often utilized in thin film applications. CVD is used to obtain wear-resistant coatings, corrosion-resistant coatings, and heat-resistant coatings. It is also used for the production of high-purity powder and fabricating ceramic and metal matrix composite materials.
Rising demand for microelectronics and semiconductor devices has driven the CVD market and the market is expected to grow in near future. As, the microelectronics industry segment is anticipated to emerge as a prominent and rapidly expanding industry segment of the global CVD equipment market. In the microelectronics industry, CVD equipment are used for wafer processing in the semiconductor industry, and for coating applications in the LED (light emitting diodes) manufacturing process
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CVD Equipment Rising in Commercial Prominence due to Increasing Market Players
The chemical vapor deposition market has been segmented on the basis of category, application, and technology. Based on category, the market has been segmented into CVD equipment, CVD materials, and CVD services. CVD equipment accounted for a major segment of the CVD industry followed by CVD services, CVD materials. A number of CVD equipment manufacturers and distributors operate globally. Growth in end-use industries such as microelectronics and solar applications and coatings is estimated to drive the global market for CVD equipment.
Based on application, the market has been segmented into coatings, electronics, catalysis, and others. The coating segment is further split into optical coatings, protective coatings, and decorative coatings. Coating segment holds a major market share and is expected to expand in near future. Electronics application is split into microelectronics and optoelectronics. Based on technology, the market has been split into atomic layer CVD, laser induced CVD, organometallic CVD, plasma enhanced CVD, plasma assisted CVD, low pressure CVD, and others. The low-pressure CVD segment accounted for more than 25% of the global CVD market in 2016. Its share is estimated to increase by the end of the forecast period. Low pressure (LP) is used to decrease any unwanted gas phase reactions, and also increase the uniformity across the substrate.
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Rising Industrialization in India and China Drives Demand in Asia Pacific
Asia Pacific held the largest share of the global chemical vapor deposition market in 2016 and is likely to rise to a valuation of more than US$12 bn by 2025, exhibiting a steady 8.10% CAGR through the 2017-2025 forecast period. Growth of the CVD market in the region is primarily ascribed to the development of electronics and semiconductor industries, especially in China. Rising industrialization and increasing number of end-use industry players in emerging economies such as India and China offers several untapped opportunities. Asia Pacific accounted for more than 35% of the global chemical vapor deposition market in 2016. It is also projected to be the fastest growing market during the forecast period due to the presence of developing economies and expansion in electronics industries. Evolving countries in Asia Pacific are the key consumers and producers of chemical vapor deposition.
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The market share of North America and Europe in the global chemical vapor deposition market is also estimated to increase during the forecast period. The chemical vapor deposition market is still developing in Latin America, the Middle East, and Africa. The manufacturing, pharmaceuticals, and renewable energy industries in developing economies in the Middle East and Africa have been expanding. The region is gradually shifting from an oil-based economy toward infrastructure, tourism, and renewable energy sectors, leading to rising demand from the chemical vapor deposition market.