Global CVD Services Market - Segmented by Service (System Integration & Consulting, Managed Services, Maintenance & Support), End User, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global CVD services market is expected to register a CAGR of 9.2% over the forecast period (2018-2023). The scope of the report is limited to the CVD services market, while the regions considered in the scope of the report include North America, Europe, and various others.
The CVD market is segmented CVD equipment, followed by the services segment. These services include the incorporation of several technological processes and advancements like plasma-enhanced, vacuum, and hot-wire vapor deposition. The huge costs involved in procurement and maintenance of the CVD equipment and challenges regarding process yields and productivity can be expected to be the reasons that end-users tend to outsource CVD.
With quite a few local players already existing in the market, upcoming CVD vendors are expected to have the right personnel, knowledge, and experience in manufacturing and surface finishing, as well as robust, proven hardware to attract end users.
The rising demand for technology in microelectronics such as mobiles, laptops, storage devices, and other electronic products has positively affected the market. Constructive regulatory support for private investments at the domestic level in countries like Mexico are also expected to drive this market over the forecast period.
Need for Longevity of Equipment and Growth in End-use Industries to Propel the Growth of CVD
The need to safeguard equipment from quick wear and tear and the increasing consumer demand for extending the longevity of end-use products has propelled the use of CVD. The equipment can be coated using metallic coatings for various surface-related properties such as magnetic, optical, electronic, catalytic, etc. CVD coating finds applications in components of electronic devices such as integrated circuits, capacitors, resistors, etc. The increasing use of these devices by the end-users in consumer electronics supports the demand for CVD.
In 2016, the microelectronics segment was the largest application segment and is expected to continue to grow owing to the wide application across end-user industries. The use of high-performance thin films in solar panels and PV devices makes solar energy production one of the fastest developing sectors for the CVD market globally during the forecast period.
Asia-Pacific, the largest consumer of CVD
The Asia-Pacific chemical vapor deposition market was the largest in 2016 and is anticipated to follow the same trend over the forecast period, owing to several developments from end-use industries across major economies. China is the key manufacturer and consumer of CVD products in Asia-Pacific, mainly due to the booming demand from microelectronics applications. This provides opportunities for new players to enter the market.
Key Developments in the Market: