Thin Film Semiconductor Deposition Market Revenue Will Reach $29.2 Billion By 2024, Says Esticast Research and Consulting
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As per the report “Thin Film Semiconductor Deposition Market, By Technology (Chemical Vapor Deposition, Physical Vapor Deposition), By Industry vertical (Consumer Electronics, ICT Sector, Photovoltaic Industry, Automotive, Industrial), Estimation & forecast, 2016 – 2024.”The global thin film semiconductor deposition market was valued at $10.16 billion, and is projected to reach $29.2 billion by 2024, growing at a CAGR of 14.2% from 2017 to 2024.
In 2016, Chemical Vapor Deposition (CVD) segment held the largest share in global thin film semiconductor deposition market. Among major regions, Asia-Pacific thin film semiconductor deposition market was highest revenue generating market and is anticipated to grow at a CAGR of 15.1% for the forecast period.
“Thin film semiconductor deposition is a next-gen technology and is achieving rapid acceptance across various industries.Range of applications of thin film semiconductor in solar panels will create a major demand surge in global thin film semiconductor deposition manufacturing. Chemical vapor deposition rules the market owing to numerous advantages such as low cost, enhanced quality, and easy deposition process.Requirement for advance OLED displays will further boost the demand in coming years.”
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Chemical vapor deposition market garnered highest revenue in 2016 and is expected to grow at a CAGR of 14.9% for the forecast period. It is anticipated to attain 3/5th of market share in terms of revenue by 2024. Among all deposition technologies, CVD have competitive advantages such as easier process, low manufacturing cost, and enhanced quality.
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Consumer electronics is projected to garner a revenue around 40% of the market
Portable consumer electronics are growing and they are becoming small, portable and efficient. The essential use of thin film semiconductors within portable consumer electronics is prime element responsible for rapid growth of this segment. In addition, LED displays used in smartphones also fuels the market growth. For example, phone companies shipped a total of 347.4 million smartphones around the world in first quarter of 2017.
Asia-Pacific exhibits exponential growth and anticipated to be the market leaders through forecast period
Asia-Pacific remains the world’s electronics hub with revenue generating around 60% of the total global thin film semiconductor sector. It is expected to grow at a CAGR of 15.1% and to capture more than 60% of the market by 2024. China is the foremost thin film semiconductor manufacturer and leads the industry with around 35% of the global market share in terms of revenue. For instance, a study by SMEI, a global industry association working in electronics industry indicates China’s semiconductors capital market is boosted by 32% in 2016.
Chemical Vapor deposition technology dominates the Asia-Pacific region also. It’s expected to grow at a CAGR of 15.8% within Asia-Pacific region in upcoming years.
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Thin Film Semiconductor Deposition Market Key Findings
• The global thin film semiconductor market is expected to generate revenue of $29.2 billion by 2024.
• Asia-Pacific is estimated to be the market leader throughout forecast period.
• China holds around 35% of the total market share in terms of revenue.
• Chemical Vapor Deposition is estimated to grow at a CAGR of 14.9% globally.
Thin film semiconductor deposition market can be branded as the market has stiff competition and established vendors in the market. Product pricing and quality are two major elements over which vendors compete with each other. Product innovation remains the best strategy to establish a strong foot hold in the market. For instance, Fujitsu Semiconductor Ltd. introduced world’s largest density 4 Mbit Re-RAM product for bulk production.
Some major players of the market are AIXTRON SE, Applied Materials, Inc., CVD Equipment Corporation, Hitachi Kokusai Electric Inc, IHI Hauzer Techno Coating B.V., Lam Research Corporation, Oerlikon Balzers, Shin-Etsu Chemical Co., Ltd., and Sumco Corporation.