The global market for Metal Organic Chemical Vapor Deposition (MOCVD) is expected to grow from USD 3.13 Billion in 2018 to USD 4.72 Billion by 2023, at a CAGR of 6.6% between 2021 and 2032.
Some of the major drivers of the Metal Organic Chemical Vapor Deposition (MOCVD) Market are the rapid growth of the semiconductor industry, increasing demand for MOCVD equipment from solar cell manufacturers, and increasing demand for light emitting diode (LED) in display applications.
The MOCVD technology is used extensively in the semiconductor device fabrication. It is a widely used technology for III-V compound semiconductor production. In addition to this, it is also being increasingly used for the production of optical waveguides, solar cells and light emitting diodes (LED). With technological advancements in the field of semiconductor manufacturing, research organizations are now looking at developing smaller devices with better performance capabilities. This has resulted in more research and development activities towards developing smaller MOCVD equipment.
Some of the advantages of the Metal Organic Chemical Vapor Deposition (MOCVD) Market are that it can be used to grow a variety of semiconductor materials, including III-nitrides, and that it is a relatively low-cost growth method. Additionally, MOCVD can be used to grow films with very high purity and uniformity.
Market value and CAGR of the Metal Organic Chemical Vapor Deposition (MOCVD) Market
The market value and the CAGR of Metal Organic Chemical Vapor Deposition
(MOCVD) Market is expected to touch the figure of USD 1.23 Bn by the time of 2031 with a CAGR growth of 12.36% in the time frame of 2021-2031.
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The metal organic chemical vapor deposition (MOCVD) market is projected to witness significant growth in the near future on account of increasing demand for semiconductor and optoelectronic applications across the globe. Other factors such as rapid industrialization, rising demand for solar cells, and competition in the telecommunication sector are expected to fuel the market growth over the forecast period of 2021-2031.
Metal organic chemical vapor deposition (MOCVD), is a technique used to deposit thin films by chemical vapor deposition using metalorganic precursors instead
Some of the challenges of the Metal Organic Chemical Vapor Deposition (MOCVD) Market are mentioned below:
• The adoption of MOCVD technology is still in its nascent stage. The commercialization rate of the MOCVD technology is low. The capital investment required in setting up an MOCVD facility is high, which limits the adoption of this technology among small and medium enterprises (SMEs).
• The global metal organic chemical vapor deposition market is subject to stringent government regulations regarding chemicals and vapours used during the manufacturing process.
Key players in the market of Metal Organic Chemical Vapor Deposition (MOCVD) Market
• Some of the key players of the Metal Organic Chemical Vapor Deposition (MOCVD) Market are Exitron (Germany), AIXTRON SE (Germany), Nippon Steel & Sumitomo Metal Corporation (Japan), and Fanuc Ltd. (Japan).
Segment Analysis
• The most in demand product currently of the Metal Organic Chemical Vapor Deposition (MOCVD) Market is the MOCVD Equipment. According to the study conducted by the analysts at Market Research Future, the global market for Metal Organic Chemical Vapor Deposition (MOCVD) is anticipated to register a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period of 2017-2023.
• The global market is projected to expand on account of its widespread applications in various industries such as electronics, semiconductor and solar power. The demand for MOCVD equipment is propelling in the industries owing to its rapid production ability which further drives the growth of MOCVD market globally. Growing demand for LED lighting has fuel up the growth of this market during forecast period as it provides superior lighting that reduces energy consumption and offers cost-effective lighting solutions. Rising concerns about greenhouse gas emissions have contributed towards demand for solar away from conventional sources leading to an increase in demand for MOCVD equipment thus accelerating growth rate of this market during review period. Apart from this, high costs associated with investing in R&D activities and implementation of MOCVD technology are hindering the growth of global Metal Organic Chemical Vapor Deposition (MOCVD) Market.
• In terms of region the region of Asia Pacific is expected to remain the largest market for MOCVD equipment owing to growing demand by electronics industries and rapid production rate. The region of North America is anticipated to grow rapidly and emerge as a key contributor to global MOCVD market during forecast period as most of leading companies are operating from this region.
Impact of Covid-19
• Covid-19 changed the market as a whole and so was the case with MOCVD market. The demand for MOCVD systems has declined sharply as a result of the slowdown in the global economy. The semiconductor industry, which is a major end-user of MOCVD systems, has been particularly hard hit by the pandemic. Many semiconductor companies have announced production cuts and layoffs in response to the crisis. This has had a knock-on effect on the MOCVD market, with suppliers seeing reduced orders and revenue.
• The Covid-19 pandemic is expected to have a long-term impact on the MOCVD market. The semiconductor industry is forecast to recover slowly from the crisis, as demand for electronic products remains weak.
Key innovations and technology in the Metal Organic Chemical Vapor Deposition (MOCVD) Market 2019-2022
In 2019, the Metal Organic Chemical Vapor Deposition (MOCVD) market is witnessing the following key innovations and technology:
1. Novel MOCVD architectures: In order to address the challenge of high costs associated with MOCVD, manufacturers are investing in developing novel MOCVD architectures. These include multi-chamber systems, batch systems, and cluster tools.
2. Improved MOCVD processes: In order to improve the efficiency of MOCVD processes, manufacturers are investing in research and development activities to develop improved versions of existing MOCVD processes. These include improved gas delivery systems, deposition chemistry, and chamber designs.
3. New applications for MOCVD: With the advent of new semiconductor devices such as LEDS and solar cells, manufacturers are exploring new applications for MOCVD.
Metal Organic Chemical Vapor Deposition (MOCVD) Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD 1.23 Billion |
| Growth Rate | CAGR of 12.36 % during 2021-2031 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Exitron (Germany), AIXTRON SE (Germany), Nippon Steel & Sumitomo Metal Corporation (Japan), and Fanuc Ltd. (Japan). |
Key Segments of the Metal Organic Chemical Vapor Deposition (MOCVD) Market
Type Overview, 2021-2031 (USD Billion)
• Gan-MOCVD
• GaAs-MOCVD
• Others
Application Overview, 2021-2031 (USD Billion)
• LED Lighting
• Advanced Packaging and MEMS
• Semiconductors
• Others
Regional Overview, 2021-2031 (USD Billion)
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
• Middle East and South Africa
Frequently Asked Questions (FAQ) :
Metal Organic Chemical Vapor Deposition (MOCVD) Market is projected to reach USD 1.23 Billion by 2031, growing at a CAGR of 12.36%