Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global thin film deposition equipment industry is expected to reach a value US$ 70.0 Bn by the end of 2031. The industry is estimated to expand at a CAGR of 9.4% from 2023 to 2031, as per the market report by TMR.
Thin film deposition equipment plays an important role in depositing a thin layer of material on the surface of a substance. This equipment can be used in several industries such as optics, coatings, and semiconductor manufacturing. Increase in the application of thin film deposition equipment in several end-use industries is likely to boost the market growth.
Rise in the usage of thin film deposition equipment in IDMs and foundries is projected to augment the global market. The incorporation of digital technologies and innovations in film deposition equipment may bolster business growth. Furthermore, the rise in adoption of flexible electronics across the world is propelling business growth. Advancements in integrated circuits are likely to provide lucrative business opportunities in the thin film deposition equipment market.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 31.2 Bn | |
| Estimated Value | USD 70.0 Bn | |
| Growth Rate - CAGR | 9.4% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 205 Pages | |
| Market Segmentation | Type, Application, Industry Vertical, End-use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | AJA International, Inc., Blue Wave Semiconductors, Inc., Canon ANELVA Corporation, CVD Equipment Corporation, Intevac, Inc., Kenosistec Sr, Lam Research Corporation, Plasma-Therm LLC, Plassys Bestek, PVD Products, Inc., Samco, Inc., Singulus Technologies AG | |
Thin Film Deposition Equipment Market: Growth Drivers
- Increase in applications of flexible electronics for flexible displays is likely to create multiple opportunities in the market.
- Rise in demand for thin film deposition in microelectronics is likely to open new growth avenues in the thin film deposition equipment market.
- Surge in demand for flexible and efficient electronic devices in several industries is expected to fuel market growth. Furthermore, consumer preference for thin films with precision is expected to offer lucrative growth opportunities in the global industry.
- Rapid urbanization and industrialization have led to increased energy consumption. Rise in preference for renewable energy sources is expected to bolster the thin film deposition equipment market.
- Furthermore, an increase in demand for solar cell applications in emerging economies is anticipated to contribute to the growth of the thin film deposition equipment market. Burgeoning demand for renewable energy generation using resources such as solar energy is expected to drive global business.
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Key Findings of Thin Film Deposition Equipment Market
- The physical vapor deposition (PVD) type segment is anticipated to lead the market owing to its extensive utilization in data storage, semiconductor manufacturing, and solar cell production.
- Rise in demand for thinner films in next-gen electronic devices has created significant growth opportunities in the segment. The segment is likely to witness significant growth due to an increase in the manufacturing of e-electronic devices with enhanced performance and advanced coatings.
- Based on industry vertical, the semiconductor & electronics segment is anticipated to witness lucrative growth in the near future, as the thin film deposition equipment provides coatings of superior quality on semiconductor wafers.
- Applications of thin film deposition equipment in developing integrated circuits, nanotechnology, and MEMS (micro electrical mechanical systems) have spurred the growth of the thin film deposition equipment market.
Thin Film Deposition Equipment Market: Regional Dynamics
Asia Pacific is expected to be a major market for thin film deposition equipment due to an increase in demand for microelectronic devices.
The region is expected to witness significant growth owing to an increase in demand for solar cells and semiconductors in developing countries such as Taiwan, China, South Korea, and Japan.
North America is also expected to be a significant market due to the rise in research & development activities. Presence of major players in countries such as the U.S. is fueling the market in this region.
Thin Film Deposition Equipment Market: Competitive Landscape
Key players are engaged in the research & development of novel technologies to cater to the rising consumer demand. Innovation in film deposition systems and solutions to optimize performance, reduce costs, and enhance quality has created significant growth opportunities in the market. Key players are engaging in strategic collaborations to maintain their market position. Moreover, players are focusing on establishing their foothold in local and regional markets to reduce their reliance on the international market.
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Leading players operating in the thin film deposition equipment market are:
- Kenosister Sr
- PVD Products, Inc.
- Lam Research Corporation
- Singulus Technologie AG
- Samco, Inc.
- Intevac, Inc.
- Blue Wave Semiconductors, Inc.
- CVD Equipment Corporation
- Plasyss Bestek
- Canon ANELVA Corporation
- AJA International, Inc.
- Plasma-Therm LLC
Thin Film Deposition Equipment Market: Segmentation
By Type
- Physical Vapor Deposition (PVD)
- Chemical Vapor Deposition (CVD)
- Atomic Layer Deposition (ALD)
By Application
- Solar Cell
- Semiconductor Laser
- Hard Disk Drives
- Precision Optics
- LED Displays
- Memory
- Discrete & Power Devices
- Sensors & Transducers
- Transistor
- Others (optical filters, eyeglasses, and others)
By Industry Vertical
- IT & telecommunication
- Semiconductor & Electronics
- Energy & Utility
- Consumer Electronics
- Automotive
- HealthCare
- Others (aerospace and defense, research & academics, etc.)
End-Use
- IDMs
- Foundry
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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