Asia Pacific (APAC) Emerge as the Most Dominant Market for Evaporation Materials
The robust expansion of both the electronics and the optics industries in recent years has subsequently fueled the demand for evaporation materials. Manufacturing some of the new-age electronic components such as semiconductors, flat panel displays, microelectronic and data storage device is quite difficult in absence of evaporation materials. Persistence Market Research's new study on the global evaporation materials market reveals that Asia Pacific will remain the most attractive market for evaporation materials over the next couple of years. Moreover, there is a greater preference for evaporation materials for high purity coatings applications.
PMR's report titled "Evaporation Materials Market: Global Industry Analysis and Forecast, 2017-2025" projects that the global market for evaporation materials is set to reach US$2,185.0 Mn by 2025 end. The report projects that Asia Pacific (APAC) will emerge as the most dominant market for evaporation materials by the end of 2017, reaching a valuation of US$ 604.9 Mn. During the forecast period, APAC's market is expected to expand at an impressive CAGR of 7.6%. The substantial growth of sectors such as electronics, semiconductor and power & energy is primarily boosting the demand for evaporation materials in the region. Meanwhile, Europe is expected to remain as the second most attractive market for evaporation material throughout the forecast period.
Based on material types, preference for metals will remain high during the assessment period. Between 2017 and 2025, demand for alloys based evaporation materials is also expected to gain a healthy traction. This is primarily owing to their superior characteristics that help achieving a very high-quality coating. Evaporation materials find widespread application in the electronics industry. In terms of the value, electronics industry will continue account for the highest market share over 2025.
The PMR report has profiled some of the prominent players operating in the global evaporation materials market, which include ULVAC, Inc., Materion Corporation, Umicore Group, Aida Chemical Industries Co., Ltd., Plasmaterials Inc., The Kurt J. Lesker Company, China Rare Metal Material Co., Ltd., Canon Optron Inc., Nichia Corporation, GRIKIN Advanced Materials Co., Ltd., and Process Materials, Inc. Many of these companies have started adding custom products to cater to the special requirements of their clients. In addition, market players are also focusing on launching new evaporation materials products in order to expand their product portfolio.