Date: Oct 2021
CVD Equipment Market worth USD 58.85 billion by 2027
The Market Statsville Group (MSG) publishes the new report on the "Chemical vapor deposition Market by Category (CVD Equipment and CVD Materials), by Application (Electronics, Solar Panel, Cutting Tools, Medical Devices, and Others), and by Region - Global Trends, Market Share, and Forecast to 2027". The global chemical vapor deposition market was valued at USD 28.96 billion in 2020 to USD 58.58 billion by 2027, at a CAGR of 10.59% from 2021 to 2027. Fluorinated greenhouse gases are among the most potent and persistent greenhouse gases contributing to global climate change. These gases play a vital role in the chemical vapor deposition (CVD) process in manufacturing liquid crystal display panels in electronics applications, such as televisions, computer monitors, and other semiconductor applications. Fluorinated gases (F gases) include hydrocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6). This range of powerful greenhouse gases trap heat in the atmosphere and contribute to global warming. Other mandatory requirements for HFC’s regulations are mandatory leakage tests, with a threshold of 5 tons of carbon dioxide emissions, and these gases must be recovered for recycling, reclamation, or destruction.
Global CVD Equipment Market Segmentation
The overall CVD equipment market has been segmented into the category, applications, and regions.
- By Category (CVD Equipment and CVD Materials)
- By Application (Electronics, Solar Panel, Cutting Tools, Medical Devices, and Others),
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
By Application, Electronics has the largest market revenue share of the CVD market.
On the basis of application, the market is segmented into electronics, solar panels, cutting tools, medical devices, and others. In 2020, Electronics had the largest market revenue share of 38.05% in the chemical vapor deposition market.
CVD is a major process in producing thin films of all three categories of electronic materials: semiconductors, conductors, and insulators. CVD plays an essential role in designing and processing advanced electronic conductors, insulators, and related structures, such as diffusion barriers and high thermal conductivity substrates (heat-sinks). Various materials, such as titanium nitride, silicon nitride, silicon oxide, diamond, and aluminum nitride, are used in conductors and insulators that CVD produces. CVD copper is competing directly with sputtering, which, at this stage, is still the preferred production process. Superconductors' most likely CVD applications to reach the practical stage are coatings for semiconductors and other electronics-related applications. The semiconductor industry is shifting massively from aluminum to copper for chip metallization.
Additionally, thin films of electrical insulators are essential elements in the design and fabrication of electronic components. The most widely used insulator materials (dielectrics) are silicon oxide (SiO2) and silicon nitride (Si3N4). These materials are extensively produced by CVD.
Asia Pacific accounts for the largest market share during the forecast period in the CVD equipment market
Based on the regions, the global CVD equipment market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia-Pacific was accounted for the highest market share of 67.74% in the global CVD equipment market. It was anticipated to maintain its dominance throughout the forecast period, followed by Europe and North America.
India is a growing economy, and the country's GDP is expected to grow by over 7.3% during 2019. The government of India has been taking initiatives to attract FDIs in various sectors, to make the country a manufacturing hub. The manufacturing industry is an essential contributor to the country’s GDP, and the government has aimed to increase the share of this sector from 16% to 25% by 2022. The electronics industry in India is mainly driven by macro-economic factors, such as growing middle-class families and rising disposable incomes. In addition to this, the high preference for high-end technological devices and the declining electronics prices are also fueling the demand.
Some of the major companies that operate in the global CVD equipment market are Lam Research Corporation, Applied Materials Inc., Tokyo Electron Limited, CVD Equipment Corporation, IHI Corporation, ASM International, Hitachi Kokusai Electric Inc., Jusung Engineering Co. Ltd., Aixtron, Veeco Instruments Inc. and UlVAC Inc.
Browse complete report: https://www.marketstatsville.com/chemical-vapor-deposition-market
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