The chemical vapor deposition (CVD) market is expected to expand at a steady CAGR over the forthcoming years due to the increasing demand for semiconductor and microelectronics devices. Chemical vapor deposition is a material processing technology used to produce high-purity and high-performance parts of electronic devices. The technique is appropriate for the manufacturing of fibers, monolithic components, coatings, and powders. Transparency Market Research (TMR) has estimated that the global market was valued at $16,449.8 mn in 2016 and is expected to reach the value US$2.6 bn by the end of 2022. The global market for CVD is projected to expand at a healthy CAGR of 7.7% over the forecast period 2017-2025.
Which application segment is expected to exhibit highest growth in CVD market?
On the basis of applications, the overall market of CVD can be segmented into catalysis, electronics, coatings, and others. Among these, the coating segment holds a leading share in the overall market and can be further classified into decorative coatings, protective coatings, and optical coatings. Whereas, the electronics segment can be split into sub segments such as optoelectronics and microelectronics. Researchers are innovating coating applications to enhance physical properties of various products. These coatings are formed due to the result of heated surface of products and reactions between various gaseous phases within the CVD reactors. CVD coatings find their applications in manufacturing processes as a wear-resistant coating for plastic processing tools, wear components, and turning and carbide milling inserts.
Which geographical regions exhibit more lucrative opportunities for the market?
Geographically, the global market for CVD can be segmented into Africa, the Middle East, Latin America, Europe, North America, and Asia Pacific. Among these, Asia Pacific held dominance in 2016, with a share of 35% in the global market. The CVD market in Asia Pacific is anticipated to grow at a healthy CAGR of 8.10% over the forecast period. The increasing number of end-use industry players and expanding industrialization in the countries such as China and India are most likely to help this region sustain its leading position over the forecast period. Furthermore, development of semiconductor and electronics industries within this region makes this region more lucrative towards the development of market. Emerging countries in Asia Pacific are the key producers and consumers of chemical vapor deposition.
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The North America market is expected to show an increasing demand for CVD products. Various players domiciled in this region are involving in mergers and acquisitions to gain impetus in the global market. For instance, Veeco Instruments, Inc., a global leader of deposition process equipment and advanced thin film etch, has acquired Ultratech, Inc. in May, 2017. Ultratech is a prominent supplier of materials used for the manufacturing of semiconductor devices and LEDs. These types of mergers and acquisitions with the motive to expand their business are anticipated to expand the North America market in the global market. However, markets in Africa, the Middle East, and Latin America are still in developing phase but are most likely to expand due to emerging economies of the countries within these regions.