Asia Pacific Vapor Deposition Equipment Industry Overview
The Asia Pacific vapor deposition equipment market size was estimated at USD 11.98 billion in 2020 and is anticipated to grow at a compounded annual growth rate (CAGR) of 6.4% from 2021 to 2028. Rising demand for high-quality thin films on solid materials in various applications, such as microelectronics, solar products, medical devices, and cutting tools, among others, drive the market. During the COVID-19 pandemic, various electronics, cutting tools, and solar products manufacturing companies were shut resulting in hampering the demand for vapor deposition equipment. However, as the world has started returning to normalcy from the beginning of 2021, due to vaccine rollouts, the demand for vapor deposition is expected to witness growth.
The COVID-19 pandemic is anticipated to have a dual effect on the electronics, automobile, and solar industries, wherein the manufacturing of components was halted due to lockdowns imposed in various countries, coupled with a slowdown in logistics, resulting in supply interruptions. Furthermore, the unavailability of labor regionally has also contributed negatively to the manufacturing of components, thereby hampering the market growth. According to IRENA, Asia Pacific dominated the solar energy market with over 56% of the total installed capacity globally. The increasing demand for solar photovoltaic systems is one of the factors driving the growth of semiconductor devices, which, in turn, is anticipated to drive the market for vapor deposition equipment in the region.
Gather more insights about the market drivers, restraints, and growth of the Asia Pacific Vapor Deposition Equipment market
The growth of the solar equipment industry in China, Indonesia, and India is likely to contribute significantly to the market growth. Countries across Asia Pacific have pledged to reduce carbon emissions in line with the Paris Climate Treaty. This has increased the penetration of solar technology in the region, thereby complementing market growth. The costs incurred by the manufacturers are affected by a number of factors, including volatile commodity prices, raw materials, parts, freight, and labor costs. Furthermore, other factors, such as inflation, exchange rates, international trade agreements, economic concerns, and tariffs, also affect the raw material prices and the manufacturing costs of the equipment, thereby restraining the market growth.
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Asia Pacific Vapor Deposition Equipment Industry Segmentation
Grand View Research has segmented the Asia Pacific vapor deposition equipment market on the basis of technology, application, and region:
Asia Pacific Vapor Deposition Equipment Technology Outlook (Revenue, USD Million, 2017 - 2028)
- Chemical Vapor Deposition (CVD)
- Physical Vapor Deposition (PVD)
Asia Pacific Vapor Deposition Equipment Application Outlook (Revenue, USD Million, 2017 - 2028)
- Microelectronics
- Data Storage
- Solar Products
- Cutting Tools
- Medical Equipment
- Others
Market Share Insights:
November 2021: Yield Engineering Systems, Inc., a manufacturer of semiconductor advanced packaging and life sciences, acquired the semiconductor business of Kanthal. This acquisition will give the company access to Kanthal’s low-pressure CVD process and complement its thermal processing capabilities.
Key Companies profiled:
Some prominent players in the Asia Pacific Vapor Deposition Equipment Industry include
- Buhler Alzenau GmbH
- Vacuum Techniques Pvt. Ltd.
- Ningbo Danko Vacuum Technology Co., Ltd.
- Vergason Technology, Inc.
- Vapor Technologies, Inc.
- AJA International, Inc.
- Kobe Steel, Ltd.
- Milman Thin Film Systems Pvt. Ltd.
- Foshan Foxin Vacuum Technology Co., Ltd.
- IKS PVD Technology (Shenyang) Co., Ltd.
Order a free sample PDF of the Asia Pacific Vapor Deposition Equipment Market Intelligence Study, published by Grand View Research.
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