The Asia Pacific vapor deposition equipment market size is anticipated to reach USD 19.15 billion by 2028, registering a CAGR of 6.4% over the forecast period, according to a new report by Grand View Research, Inc. Increasing semiconductor manufacturing coupled with rising demand for solar PV products in Asia Pacific is anticipated to drive the market growth. The rapid growth in the medical device industry, attributed to the increased investments in medical infrastructure during the pandemic, is expected to have a positive impact on the market. The medical device manufacturers are in need of wear-resistant and biocompatible coatings, which are provided by vapor deposition technology.
Ongoing developments and innovations in connectivity, communications, advanced software, the automotive industry, and data centers are projected to create a substantial demand for microelectronics in the region over the forecast period. This, in turn, is expected to have a positive impact on the vapor deposition equipment market. Key strategies adopted by various manufacturers include collaboration with coating companies and providing them with the necessary technology and equipment for coating. For instance, in October 2020, Vergason Technology, Inc., partnered with Helios Coatings Inc. to utilize Physical Vapor Deposition (PVD) wheel coating technology.
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Asia Pacific Vapor Deposition Equipment Market Report Highlights
- Microelectronics accounted for the largest revenue share in 2020 owing to increased demand for durable coatings as vapor deposition allows the coated material to possess unique properties aiding them to integrate with microelectronics
- The Chemical Vapor Deposition (CVD) segment led the global market in 2020 and is expected to register the fastest CAGR from 2021 to 2028
- The medical equipment application segment is projected to witness the fastest CAGR of 7.6% over the forecast period
- This growth is credited to its ability to provide a wear-resistant & hard coating on medical devices and surgical instruments
- China accounted for the maximum revenue share in 2020 due to the heavy investments, a robust economic recovery, high disposable income levels, and improved private demand
- End users are focusing on new product launches with vapor deposition techniques to expand their product portfolios
- For instance, In March 2020, Roca Sanitario SA introduced Everlux finishes, a PVD technique to offer impact- and scratch-resistant products
Key Companies & Market Share Insights
The market is highly competitive owing to the presence of both regional and local manufacturers. Manufacturers adopt several strategies including acquisition, collaboration, new product launches, and regional expansions to enhance their market penetration and meet the changing technological demand from various applications industries.
For instance, in November 2021, Yield Engineering Systems, Inc., a manufacturer of semiconductor advanced packaging and life sciences, acquired the semiconductor business of Kanthal. This acquisition will give the company access to Kanthal’s low-pressure CVD process and complement its thermal processing capabilities. Some prominent players in the Asia Pacific vapor deposition equipment market include: Buhler Alzenau GmbH, Vacuum Techniques Private Ltd., Ningbo Danko Vacuum Technology Co., Vergason Technology, Vapor Technologies, AJA International, Kobe Steel, Milman Thin Film Systems Pvt. Ltd., Foshan Foxin Vacuum Technology Co. Ltd., IKS PVD Technology (Shenyang) Co.
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