Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Metal Organic Chemical Vapor Deposition (MOCVD) Market (by Application, Category, & Region): Insights & Forecast (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
Today's world depends heavily on semiconductors and the related low-dimensional nanostructures. Lasers, light-emitting diodes, quantum-dot photodetectors, and ultraviolet optoelectronics are a few examples that have undergone extensive research and are employed in both business and military applications. Therefore, it is crucial to comprehend the dynamics of how metalorganic chemical vapor deposition (MOCVD) produces semiconductor nanostructures. Chemical vapor deposition techniques such as MOCVD are often employed in industry to epitaxially produce compound semiconductors.
The demand for MOCVD process has grown significantly in the recent years as a result of the rising demand for semiconductors owing to the increasing demand for consumer electronics and microelectronics. Additionally, it is anticipated that the rise of end-use applications for autonomous technology, such as the autonomous automobile, would result in rapid growth of MOCVD throughout the projected period.
The global metal organic chemical vapor deposition market is expected to be valued at US$1.38 billion in 2023, growing at a CAGR of 10.46% during the forecast period.
Segments Covered
- By Application: The market report has segmented the global metal organic chemical vapor deposition market into six different segments on the basis of application: microelectronics, data storage, solar products, cutting tools, medical equipment, and others. The microelectronic MOCVD segment held the highest share in metal organic chemical vapor deposition market, owing to increasing adoption of microelectronics devices such as resistors, transistors, capacitors, inductors, diodes, and others in various industries across the globe.
- By Category: The report splits the global metal organic chemical vapor deposition market into three segments in terms of category: MOCVD Equipment, MOCVD Materials, and MOCVD Services. MOCVD services is the fastest growing segment expanding at a highest CAGR during the forecast period, due to the growing demand for advancement in technology in coming years.
Geographic Coverage
Asia Pacific enjoyed the major share of the total of the global market, primarily owing to the increasing production and sales of passenger vehicles, and the high demand for automobiles and increasing income levels which have resulted in the rising growth of mid-sized premium and luxury car segments in the region. Therefore, augmenting the MOCVD market growth. China MOCVD market is booming at a rapid pace, thanks to the favorable Government intervention and high production of LED.
Top Impacting Factors
Growth Drivers
- Increased Demand for Consumer Electronic Devices
- Rise in Automotive Industry
- Rapid installation of MOCVD base
- Rising Use of MCOVD in the Manufacturing of Multilayer Semiconductor Structure
- Escalating Use of Advanced Medical Equipment
Challenges
- High Cost Associated with MOCVD Manufacturing
- Health Concerns Associated with MOCVD Manufacturing
Trends
- Increasing Penetration of AI applications
- Growing Global Demand For Photovoltaic Cells
- Growing Popularity of Micro-LEDs
Driver: Increased Demand for Consumer Electronic Devices
Rising demand for smartphones, artificial intelligence, and voice recognition technologies, as well as the replacement cycles and falling prices of various electronics devices, are some of the primary drivers of future consumer electronics growth. The surge in demand for consumer electronics is directly impacting the growth in MOCVD market, especially due to growth in demand for semiconductor market, which is a major end-user of MOCVD market. Most of the consumer electronics devices use semiconductor devices such as memory chips, microprocessors, commodity integrated circuit, etc., these semiconductors are grown using MOCVD as their raw material. Therefore, demand for consumer electronic goods have a positive effect on the growth of MOCVD market in recent years.
Challenge: Health Concerns Associated with MOCVD Manufacturing
MOCVD precursors are very hazardous. Carbon contamination and unintentional hydrogen incorporation are a major problem in MOCVD. This results in unintentional p-type doping. So for proper doping, the proper V/III ratio is chosen and the suitable amount of carbon gas is injected to remove out CH3 or C2H5 groups for removing contamination. Also, as the human body absorbs organic compounds very easily, the metal organics are very easily absorbed by humans. Once in the body, the weak metal organic bond is easily broken, thus, poisoning the body with heavy metals that often cannot be easily removed by normal bodily functions. Therefore, one drawback of MOCVD is the toxic and explosive nature of the precursor gases, which makes them difficult to use.
Trend: Increasing Penetration of AI applications
AI has grown in popularity as a result of greater data quantities, improved algorithms, and advancements in processing power and storage. Robotic process automation will shorten the time required to accomplish repeated operations, making the strategy less burdensome and more successful. AI-powered smartphone applications and other mediums will aid in determining what people desire. Data-driven insights result in more tailored solutions and better engagement. The benefits of AI would be driving the demand for AI devices which would require installation of components such as microelectronics, laser, LED lighting & chips, and even transistors, which would increase the demand for MOCVD used in manufacturing such components in coming future.
Company Profiles
- Advanced Micro-Fabrication Equipment
- Agnitron Technology
- AIXTRON
- Alliance MOCVD
- CVD Equipment
- JUSUNG Engineering
- Nichia Corporation
- Nippon Sanso Holding
- Qingdao Jason Electric
- Samco
- Toshiba
- Veeco Instruments
For more information about this report visit https://www.researchandmarkets.com/r/mq5uky
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