Evaporation Materials Market to reach around US$ 2,515 .9 Million by 2027 - Coherent Market Insights

Evaporation materials are those materials that are used to provide high purity coatings especially in electronic and power generation industry. These materials are used to grow thin film by an evaporation method and these materials include oxide and metals. High purity evaporation materials have a crucial role in deposition processes as they ensure high quality deposited film and are considered as one the prominent source materials for thin film deposition and electron beam evaporation. These products can be available in different forms such as pellets, granules, starter sources, crucible liners, rod, shot, wire, and random pieces.

The global evaluation materials market is estimated to account for slightly less than US$ 1,324.7 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 7.4% during the forecast period (2019-2027)

Drivers

Rising demand for evaporation materials from electronics & optical applications is predominantly fueling the market growth of evaporation materials. Growing demand for semiconductors, and microelectronic components such as flat panel displays and data storage devices around the globe is fueling the demand for evaporation materials which are widely used during the manufacturing and processing of electronic products. Moreover, increasing demand for optical coatings for various applications is further anticipated to foster the market growth of the global evaporation materials.

Market Opportunities

The advent of technological advancement in the product such as sputtering targets and chemical vapor deposition is expected to foster the market growth of evaporation materials sputtering targets and chemical vapor deposition provide lesser substrate surface damages. Also, rising adoption of thermal evaporation as it is highly advanced technology and gaining traction across various applications is anticipated to foster market growth over the forecast period.

Market Restraints

Other factors such as poor step coverage, difficulty in alloys formation and lower throughput due to low vacuum are projected to hinder the adoption of evaporation materials among end-users, which in turn hampering the market growth. The step coverage of films is poor due to the directional nature of evaporated products. Therefore such factors are expected to limit the market growth of evaporation materials over the forecast period.

Key Takeaways

On the basis of material type, metal segment has dominated the global evaluation materials market in 2018 with a 47% of market share in terms of value, followed by alloys and compounds.

Market Trends

Increasing focus of manufacturers of evaporation materials to develop innovative and novel and products are anticipated to propel the market growth over the forecast period. For instance, in September 2016, the MDC Vacuum Products division launched a wide selection of deposition sources, accessories, and materials to assist with evaporation and sputtering processes. The new product line consists of three main categories, which include thin film evaporation sources & accessories, thin film sputtering sources & accessories, and thin film materials.

Increasing investment by players to boost the production of evaporation materials will favor market growth over the forecast period. For instance, in May 2016 Dai Nippon Printing Co., Ltd. (DNP) announced the plan to invest six billion yen by 2020, to add an evaporation mask (metal mask) production line used in the manufacture of organic EL displays at the Mihara Plant in Hiroshima. Hence such investment is estimated to accelerate the market growth in the years to come.

Competitive Section

Key players operating in the global evaporation material market includes Materion Corporation, Umicore Group, ULVAC, Inc., Nichia Corporation, China Rare Metal Material Co., Ltd., GRIKIN Advanced Materials Co., Ltd., Canon Optron Inc., Plasmaterials Inc., Process Materials, Inc., The Kurt J. Lesker Company, Aida Chemical Industries Co., Ltd.

Few Recent Developments

Materion Corporation

• In January 2016, Materion Corporation entered into a partnership and collaboration agreement with ZMC Group for service and sales of its Physical Vapor Deposition (PVD), thin-film materials, evaporation materials, and sputter targets

Market Taxonomy

By Material Type

• Metals
• Precious metals
• Nonprecious metals
• Alloys
• Compounds
• Others

By Application

• Electronics
• Optics
• Power & Energy
• Others

By Region

• North America
• Latin America
• Europe
• Asia-pacific
• Middle East & Africa