Chemical Vapor Deposition Market Size, Share & Trends Analysis Report By Category (CVD Equipment), By Application (Semiconductor & Microelectronics), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global chemical vapor deposition market size was estimated at USD 20,640.09 million in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 8.9% from 2023 to 2030. The rapid development in technology facilitating the increasing use of chemical vapor deposition (CVD) process in several applications is expected to majorly drive the market growth over the forecast period. The outbreak of COVID-19 had a negative impact on the global chemical vapor deposition market. The pandemic resulted in setback in industrial manufacturing along with the disruption in supply chain and lack of workforce availability. Over the forecast period with resumption of manufacturing and active vaccination the market is expected to recover and witness strong growth.

The U.S. government is actively focusing on growing domestic manufacturing and with respect to that introduced Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength (COMPETES) Act in January 2022. This act is expected to provide investment for domestic semiconductors manufacturing and scientific research & developments activities. Additionally, developments in the semiconductor industry across the globe is also likely to boost the chemical vapor deposition market over the forecast period. CVD is used for the fabrication of the semiconductor which deposits thin film of coating materials. The expansion of semiconductor manufacturing in Asia Pacific is expected to boost the demand for chemical vapor deposition.

Furthermore, CVD technology is utilized in the solar cell manufacturing with the deposition of different materials in thin film. The rising greenhouse gas emission and increased importance of renewable energy sources is driving the demand for solar cell manufacturing. This is expected to drive the chemical vapor deposition market growth over the forecast period. Moreover, growing medical field and rising technological development is expected to drive the growth of the chemical vapor deposition market over the forecast period. CVD technology finds application in the medical field where tools and implants are coated with functional coatings that entails the performance and biocompatibility.

Category Insights

The global chemical vapor deposition market was dominated by the CVD equipment segment, accounting for 65.6% revenue share in 2022. Chemical vapor deposition equipment consists of equipment and tools which includes various types of CVD; plasma CVD, low pressure CVD, high temperature CVD and atomic layer deposition. The CVD equipment plays significant role in the deposition process of the metal precursors, dielectrics, and silicon for various end use industries. In addition, CVD precursors delivery equipment such as containers, vacuum pumps, and gas supply plays vital role. The expansion of end use manufacturing facilities is likely to drive the growth of the CVD equipment segment.

Chemical vapor deposition services segment is expected to witness significant growth with a CAGR of 9.6% over the forecast period. The chemical vapor deposition services market comprises of several technological process including plasma, low pressure, high temperature, and atomic layer deposition. Atomic layer deposition technology is gaining momentum attributed to the excellent coating qualities. CVD materials segment is anticipated to register promising growth over the forecast period attributed to the increasing demand for coating application from several end use industries. CVD materials consists of different metal precursors, dielectric compounds, and silicon precursors and witnessing growing demand from new opportunities from aerospace and medical industry.

Application Insights

The semiconductor & microelectronics segment held the largest market share, accounting for 60.3% share in 2022. This is attributed to the significant application of CVD coating during fabrication of semiconductors, internal circuits and chip manufacturing. The growth of the electronic devices industry is driving the demand for semiconductors and microelectronics and subsequently boost market growth. The medical industry is rapidly growing at the advent of increasing technological innovation and development. Moreover, rising healthcare spending is also driving the need of medical devices and equipment. CVD is used to coat the medical implants and tools with functional coating that has increased efficiency and biocompatibility.

The solar products segment is expected to witness the significant CAGR of 9.5% over the forecast period. Rising social awareness regarding environmental impact of greenhouse gas emission is creating high demand for renewable energy resources. Photovoltaic cells production and installation is expected to witness strong growth which is expected to drive the growth of the market. Additionally, aerospace industry is also expected to drive the growth of the CVD market. In aerospace industry, CVD is used to deposit aluminide or chromide coatings for protection of jet engine blades and other components. The growth in the aerospace industry is likely to boost the growth of the CVD market over the forecast period.

Regional Insights

The Asia Pacific led the global chemical vapor deposition market with a revenue share of 51.8% in 2022. Countries such as China, Japan, and Taiwan are prominent countries in fabrication of semiconductors and other microelectronics across the world. The higher market share is mainly attributed to the higher demand from the end use industries.

North America is expected to register a substantial growth with a CAGR of 8.8% over the forecast period. The growth is attributed to the rapid industrialization and investments in manufacturing in Canada and Mexico. Moreover, U.S. government agenda to drive domestic manufacturing is anticipated to increase the demand of CVD equipment and materials over the forecast period.

Energy crisis in Europe is expected to have promising effect and shift in the preference strongly from non-renewable to renewable sources. Hence, solar cells demand as well as production is expected to experience a boost over the forecast period. This is likely to drive the regional as well as global CVD market growth. Industrial development and rising foreign investment in India are driving the manufacturing sector rapidly. The country is anticipated to present promising opportunities for the growth of the CVD market. For instance, in September 2022, ISMC Digital announced investment of USD 3 billion for semiconductor fabrication plant in India.

Key Companies & Market Share Insights

The key players are actively focusing on several strategies, including research & development, product innovation, geographical expansion, and joint venture. With these strategies, key players aim to target new customers from end use industries and to increase market penetration. For instance, in November 2022, CVD Equipment Corporation received USD 3.7 million aerospace order for production coating system; chemical vapor infiltration system. The system will be used to deposit ceramic composite materials for gas turbine engines and other components. Some of the prominent players in the global chemical vapor deposition market include: Some prominent players in the chemical vapor deposition market include:

• CVD Equipment Corporation

• Tokyo Electron Limited

• IHI Corporation

• Veeco Instruments Inc.

• ASM International NV

• Plasma Therm LLC

• Applied Materials Inc.

• Oerlikon Group

• Voestalpine AG

• ULVAC Inc.

• Aixtron SE

• Taiyo Nippon Sanso Corporation

• LPE

• Nuflare Technology Inc.

• RIBER

Chemical Vapor Deposition Market Report Scope

Global Chemical Vapor Deposition Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the chemical vapor deposition market on the basis of category, application, and region:

• Category Outlook (Revenue, USD Million; 2018 - 2030)

  • CVD Equipment

  • CVD Materials

  • CVD Services

• Application Outlook (Revenue, USD Million; 2018 - 2030)

  • Semiconductor & microelectronics

  • Data Storage

  • Solar Products

  • Cutting Tools

  • Medical Equipment

  • Other

• Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • UAE