Chemical Vapor Deposition Market Estimated to Flourish by 2025
According to Transparency Market Research (TMR), the global chemical vapor deposition market was valued at US$16,449.8 mn in 2016 and is estimated to reach US$32,441.5 mn by 2025, expanding at a CAGR of 7.7% between 2017 and 2025.
Rising Need for Reliable Coatings Drives Chemical Vapor Deposition Market
Chemical vapor deposition (CVD) can be performed by various methods such as atmospheric pressure CVD (APCVD), low pressure CVD (LPCVD), and others. It is used to provide 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. The growing need for high-quality coatings in a number of industries is likely to drive the chemical vapor deposition market in the coming years.
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Steady Growth of Microelectronics Sector Benefits Chemical Vapor Deposition Market
Rising demand for microelectronics is likely to drive the chemical vapor deposition market in the near future. The microelectronics application segment is expected to emerge as a prominent and rapidly expanding application of chemical vapor deposition in the coming years. In the microelectronics industry, CVD equipment is used for wafer processing in the semiconductor industry, and for coating applications in the LED (light emitting diodes) manufacturing process. Microelectronics is a leading application segment for CVD and expansion of the microelectronics market has been a major factor fuelling the CVD market.
Rapid industrialization in developing economies in Asia Pacific is likely to be a crucial driver for the global chemical vapor deposition market. This has also led to growing demand for automated equipment in many industries, leading to rising use of chemical vapor deposition to ensure a strong coating.
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Currently, Asia Pacific leads the global chemical vapor deposition market, followed by North America and Europe. Increasing consumption of chemical vapor deposition in electronics industries in China and India is likely to fuel the demand for chemical vapor deposition applications in Asia Pacific over the forecast period. China is the key manufacturer and consumer of CVD products in Asia Pacific, mainly due to the booming demand from microelectronics applications. CVD demand would continue to increase in Asia Pacific over the forecast period. Asia Pacific accounted for more than 35% of the global chemical vapor deposition market in 2016.
Key players in the Chemical Vapor Deposition market include ULVAC Inc., IHI Corporation, Singulus Technologies AG, Veeco Instruments Inc., Tokyo Electron Limited, Mustang Vacuum Systems, Dynavac, and Oxford Instruments. The chemical vapor deposition market is likely to witness the entry of new players on a regular basis in the coming years due to the attractive commercial proposition of the market. Acquisition of smaller emerging players with considerable expertise in particular aspects of the process is likely to be a key tactic for large players in the global chemical vapor deposition market in the coming years.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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