NEWARK, Del, Feb. 27, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights’ latest industry analysis, the global chemical vapor deposition market size is estimated to be around US$ 47.3 billion in 2024. It is projected to exhibit a CAGR growth of 8.30% over the forecast period, with an estimated market size of US$ 105 billion in 2034.
Chemical vapor deposition is a versatile and widely used technique that finds applications in a diverse range of industries. Primarily, the proliferation of electronic devices has led to a greater application of chemical vapor deposition for producing thin-film transistors, capacitors, and other components. The rising demand for high-performance materials in semiconductor manufacturing is also driving the widespread adoption of chemical vapor deposition processes.
The semiconductor industry is increasingly adopting chemical vapor deposition for depositing thin films of various materials onto silicon wafers to create integrated circuits and other semiconductor devices. Chemical vapor deposition is also experiencing increasing demand from automotive manufacturers. It is used for coating engine parts, exhaust systems, and other components to enhance durability, corrosion resistance, and performance.
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Increased demand for lightweight, high-strength materials in the aerospace and automotive sectors has also led to a greater use of chemical vapor deposition for coatings and material fabrication. Apart from this, chemical vapor deposition is growing among manufacturers of electronic components, such as displays, LEDs, and solar cells, for thin-film deposition and surface modification.
“To achieve sustainability goals, companies in the chemical vapor deposition market must implement energy-efficient technologies in CVD equipment and manufacturing processes. This is likely to minimize energy consumption and greenhouse gas emissions,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Market Study
- The CVD equipment segment is on track to dominate the chemical vapor deposition industry, registering a CAGR of 8.10% through 2034.
- Based on the application, the semiconductor and microelectronics segment is set to lead the chemical vapor deposition industry, recording a CAGR of 7.80% through 2034.
- The chemical vapor deposition market in the United Kingdom is anticipated to grow at a promising CAGR of 8.90% through 2034.
- The chemical vapor deposition industry in China is estimated to rise at an 8.80% CAGR through 2034.
- The chemical vapor deposition industry in Japan has the potential to increase at a 9.30% CAGR through 2034.
- The United States chemical vapor deposition market is predicted to rise by an 8.50% CAGR through 2034.
- The chemical vapor deposition industry in South Korea is very likely to grow at a CAGR of 9.10% through 2034.
Competitive Landscape of the Chemical Vapor Deposition Market
The chemical vapor deposition market is highly competitive and serves both regional and international consumers. Key players in the market, such as Adeka Corporation, Aixtron SE, Applied Materials, Inc., ASM International NV, and CVD Equipment Corporation, invest heavily in developing new deposition techniques to improve equipment performance and efficiency. These market players are also expanding their manufacturing facilities to increase production capacity, improve supply chain efficiency, and reduce lead times.
Top Key Players in the Chemical Vapor Deposition Industry
- Adeka Corporation
- Aixtron SE
- Applied Materials, Inc.
- ASM International NV
- CVD Equipment Corporation
- Lam Research Corporation
- Tokyo Electron Limited (TEL)
- Plasma-Therm LLC
- Veeco Instruments Inc.
- Oxford Instruments plc
Recent Developments in the Chemical Vapor Deposition Market:
- GIA in Hong Kong graded the largest lab-grown diamond ever, May 2023, via chemical vapor deposition, a 34.59-carat emerald-cut by Ethereal Green Diamond, receiving G color and VS2 clarity.
- In November 2023, MSP, a Division of TSI®, introduced MSP Turbo II™ Vaporizers for CVD and ALD processes, catering to various liquid precursors, including thermally sensitive and low vapor pressure liquids, for semiconductor device fabrication and industrial coatings.
- Rice University's materials scientists, in December 2023, developed a rapid, inexpensive, and scalable method for COF films via vapor deposition, enabling tunable molecular structure, large surface area, and porosity, with applications in energy, semiconductors, sensors, filtration, and drug delivery.
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Chemical Vapor Deposition Market by Segmentation
By Category:
- CVD Equipment
- CVD Materials
- CVD Services
By Application:
- Semiconductor & microelectronics
- Data Storage
- Solar Products
- Cutting Tools
- Medical Equipment
- Other
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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