The global market for evaporation materials is estimated to account for US$ 1,243 Mn by the end of 2017 and is projected to reach a market value of US$ 2,185 Mn by 2025 end, exhibiting a CAGR of 7.3% during the forecast period (2017–2025). Global evaporation materials market is anticipated to represent incremental opportunity of US$ 942 Mn between 2017 and 2025.
Technological advantages as compared to sputtering targets fueling the global evaporation materials market
Evaporation materials provide very high purity coatings when compared to sputtering targets as well as chemical vapor deposition, due to the high vacuum condition used by evaporation. In addition, very high film deposition rates are attained in evaporation materials as compared to sputtering targets. There is also a relatively lesser substrate surface damage caused due to impinging atoms as the film is being shaped. In contrast, sputtering causes more damage as it comprises high energy particles. There is also a lesser tendency for unintentional substrate heating in evaporation materials. These application advantages of evaporation materials are driving the growth of the evaporation materials market at a global level.
It should be noted that thermal evaporation is a more established technology as compared to sputtering. It is a well-developed technology with ease of availability of skillful and trained operators all over the world as compared to sputtering technology. In addition, the varied applications of thermal evaporation in terms of coating varied material types for standard coating applications is expected to strongly drive the global evaporation materials market. This has been fueling a preferential demand for evaporation materials in various applications across diverse industries.
Government support for solar power initiatives boosting the market for evaporation materials
It has been observed that governments of various countries such as China and India have been promoting the implementation of renewable energy. One of the important adoptions are the solar panels used to harness solar energy. The demand for evaporation materials is quite high from solar panel manufacturers. The growth of the solar energy industry, which is being driven by government initiatives, is expected to boost the growth rate of the global evaporation materials market. The stable rise in demand for thin film solar panels is also a major driving factor with regards to solar energy applications.
Difficulties in evaporation rate control of finished products may affect the quality of evaporation material coatings
The quality of evaporation material coatings highly relies on the evaporation rates of materials, which need to be accurately controlled. If not controlled properly, many disparities arise with regards to the efficiency of coatings produced. Also, lower density coatings as compared to those obtained from the use of sputtering targets can be obtained using evaporation materials. In addition, the prices of evaporation materials are relatively more volatile vis-à-vis those of materials used in other vapor deposition technology. This may restrict the growth rate of the global evaporation materials market as industries resort to alternative applications for ensuring sustainable profitability.
Global Evaporation Materials Market Analysis, by Application
The electronics and power & energy segments together are expected to dominate the global evaporation materials market in terms of value over the forecast period, on account of higher demand growth as compared to other segments. The power & energy segment is expected to create incremental $ opportunity of US$ 293.4 Mn over the forecast period. The power & energy segment by application is expected to witness the highest Y-o-Y growth rate over the forecast period. The electronics application segment is expected to be the most attractive in terms of incremental opportunity index over the forecast period.
Growing demand from electronics and optical applications is fueling the market growth of evaporation materials
Recently, there has been a rising demand for semiconductors, microelectronic and other electronic components such as flat panel displays and data storage devices across the globe. This in turn is expected to drive the demand for evaporation materials used during the manufacturing and processing of these electronic products, components and parts. Owing to the large, growing electronics industry in countries such as China, Japan, Korea and Taiwan, the Asia Pacific region is expected to dominate in terms of demand for evaporation materials. Also, the rising demand for optical coatings for various applications is expected to continue to fuel revenue growth of the global evaporation materials market in the next few years.
Persistence Market Research presents a comprehensive and an all-encompassing report on the global evaporation materials market titled ‘Evaporation Materials Market: Global Industry Analysis and Forecast, 2017-2025’. The report begins with an executive summary that gives the important market numbers related to the global evaporation materials market and also gives the value CAGR for the forecast period 2017 – 2025. The executive summary also lists the most lucrative segment and region of the evaporation materials market. The executive summary also comprises a brief mention of the drivers, restraints and trends in the global evaporation materials market and these are dealt in detail in an exclusive section of the report. In addition, there is a list of key market players operating in the global evaporation materials market. The executive summary also lists the global evaporation materials market value by region for the year 2017.
At the end of the executive summary, there is a concise and yet informative section of Persistence Market Research’s analysis of the overall market approach of key market players operating in the global evaporation materials market. Also, the most lucrative target application type and the target region in the evaporation materials market is mentioned here. Also, differentiating strategies of the leading market players are indicated in the executive summary. After the executive summary, there is a section of the report devoted to the market introduction that gives the definition of the evaporation materials market by type and explains its various applications across various fields.
By Material Type
After the market taxonomy, market overview of the global evaporation materials market is given, which includes regional average pricing analysis for the year 2016. Prices have been deduced for the forecast period based on historic data. Price increase over the forecast period is linearly distributed across regions. Then the global evaporation materials market volume (kg) and value (US$ Mn) forecast is given. This is followed by a list of active participants, value chain and profitability margins overview of the evaporation materials market. A section of the report is devoted to explaining in detail the market dynamics of the global evaporation materials market. These market dynamics include drivers, restraints, opportunities and trends impacting the global evaporation materials market. This is an important section of the report as it explains in detail all the factors that are responsible for the expansion of this market and the factors that are hindering the market. The subsequent sections of the report depict the global evaporation materials market by material type, by application and by region. These sections of the report contain important information and metrics about the market like the Basis Point Share analysis, year-on-year growth projections, absolute dollar opportunity and market attractiveness analysis.
An entire section of the report focuses on the competition landscape of the global evaporation materials market. This competition landscape gives a dashboard view of the key companies operating in the global evaporation materials market along with their important information and broad strategy adopted to stay as leaders in the evaporation materials market. Each leading company is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and a SWOT analysis is presented. This competition landscape is the most important section of the report as it imparts a deep understanding of the leading companies operating in the global evaporation materials market and is valuable for new entrants in the field to understand how the companies are leading this lucrative market and also for the established market players to get a better understanding about their competitors.
Overall market size has been analyzed through historical data, primary responses, and public domain data. Revenue of companies operating in the evaporation materials market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the assessment period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated with the help of the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global evaporation materials market.