PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1472045
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1472045
Evaporation Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
Global market for evaporation materials is witnessing a steady ascent, with estimations placing it at US$ 2130 million by the end of 2024, and a projected value of US$ 3650 million by 2031, boasting a notable Compound Annual Growth Rate (CAGR) of 7.3% during the forecast period from 2024 to 2031.
Technological Advantages Fueling Market Growth
One of the primary drivers of this remarkable growth trajectory is the technological superiority of evaporation materials over sputtering targets. Evaporation materials offer distinct advantages, particularly in providing high-purity coatings compared to sputtering targets and chemical vapor deposition methods. This superiority is attributed to the high vacuum conditions utilized in evaporation processes.
Moreover, evaporation materials boast significantly higher film deposition rates compared to sputtering targets, thereby enhancing efficiency and productivity in coating applications. Additionally, the minimal substrate surface damage incurred during evaporation, as opposed to the higher damage potential with sputtering, further positions evaporation materials as a preferred choice. Furthermore, the lower risk of unintentional substrate heating in evaporation processes adds to its appeal, consolidating its position in the market.
Established Technology and Diverse Applications
Another significant factor propelling the growth of the evaporation materials market is the well-established nature of thermal evaporation technology. With a wealth of skilled operators Globally and its ease of implementation compared to sputtering, thermal evaporation stands out as a reliable and preferred method for various coating applications.
Furthermore, the versatility of thermal evaporation in coating a wide range of material types for standard applications further propels its demand across diverse industries, reinforcing its stronghold in the market.
Government Support for Renewable Energy Initiatives
Government initiatives aimed at promoting renewable energy sources, particularly solar power, have emerged as a significant catalyst for the evaporation materials market. Countries like China and India have been at the forefront of driving solar energy adoption, resulting in increased demand for evaporation materials, particularly from solar panel manufacturers.
The consistent growth of the solar energy industry, fueled by governmental support, directly contributes to the expansion of the evaporation materials market. This is further bolstered by the rising demand for thin-film solar panels, highlighting the pivotal role of evaporation materials in solar energy applications.
Challenges and Opportunities
Despite the promising growth prospects, challenges persist in the evaporation materials market, notably in the precise control of evaporation rates to ensure the quality of coatings. Disparities in coating efficiency may arise if evaporation rates are not accurately managed, emphasizing the need for advanced control mechanisms in the industry.
Moreover, the relatively higher volatility in the prices of evaporation materials compared to other deposition technologies poses a challenge for market growth. However, proactive measures and technological advancements can mitigate these challenges, opening up avenues for sustainable profitability in the market.
Market Analysis by Application
In terms of application, the electronics and power & energy segments emerge as frontrunners in dominating the Global evaporation materials market. The robust demand growth witnessed in these segments positions them as key drivers of market expansion. Particularly, the power & energy segment is expected to create incremental opportunities amounting to US$ 293.4 million over the forecast period.
The electronics application segment stands out as the most attractive in terms of incremental opportunity index, driven by the escalating demand for semiconductors, microelectronics, and other electronic components worldwide.
Regional Dynamics
Regionally, the Asia Pacific region is poised to lead in terms of demand for evaporation materials, fueled by the burgeoning electronics industry in countries like China, Japan, Korea, and Taiwan. Additionally, the rising demand for optical coatings across various applications further contributes to the revenue growth of the Global evaporation materials market.
Competitive Landscape
Key players in the evaporation materials market include Materion Corporation, Umicore Group, ULVAC, Inc., Nichia Corporation, China Rare Metal Material Co., Ltd., among others. These companies drive innovation and competitiveness in the market through product development and strategic collaborations.
Table of Contents
1. Executive Summary
- 1.1. Global Evaporation Materials Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2024
- 1.5. Analyst Recommendations
2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter's Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
3. Global Evaporation Materials Market Outlook, 2018 - 2031
- 3.1. Global Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
- 3.1.1.1. Metals
- 3.1.1.1.1.Precious metals
- 3.1.1.1.2.Alloys
- 3.1.1.2. Non-precious metals
- 3.1.1.3. Compounds
- 3.1.1.4. Others
- 3.1.1.1. Metals
- 3.1.1. Key Highlights
- 3.2. Global Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
- 3.2.1.1. Electronics
- 3.2.1.2. Optics
- 3.2.1.3. Power & Energy
- 3.2.1.4. Others
- 3.2.1. Key Highlights
- 3.3. Global Evaporation Materials Market Outlook, by Region, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
- 3.3.1.1. North America
- 3.3.1.2. Europe
- 3.3.1.3. Asia Pacific
- 3.3.1.4. Latin America
- 3.3.1.5. Middle East & Africa
- 3.3.1. Key Highlights
4. North America Evaporation Materials Market Outlook, 2018 - 2031
- 4.1. North America Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
- 4.1.1.1. Metals
- 4.1.1.1.1.Precious metals
- 4.1.1.1.2.Alloys
- 4.1.1.2. Non-precious metals
- 4.1.1.3. Compounds
- 4.1.1.4. Others
- 4.1.1.1. Metals
- 4.1.1. Key Highlights
- 4.2. North America Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
- 4.2.1.1. Electronics
- 4.2.1.2. Optics
- 4.2.1.3. Power & Energy
- 4.2.1.4. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
- 4.2.1. Key Highlights
- 4.3. North America Evaporation Materials Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
- 4.3.1.1. U.S. Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.3.1.2. U.S. Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.3.1.3. Canada Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.3.1.4. Canada Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 4.3.1. Key Highlights
5. Europe Evaporation Materials Market Outlook, 2018 - 2031
- 5.1. Europe Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Metals
- 5.1.1.1.1.Precious metals
- 5.1.1.1.2.Alloys
- 5.1.1.2. Non-precious metals
- 5.1.1.3. Compounds
- 5.1.1.4. Others
- 5.1.1.1. Metals
- 5.1.1. Key Highlights
- 5.2. Europe Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Electronics
- 5.2.1.2. Optics
- 5.2.1.3. Power & Energy
- 5.2.1.4. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.2.1. Key Highlights
- 5.3. Europe Evaporation Materials Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
- 5.3.1.1. Germany Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.2. Germany Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.3. U.K. Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.4. U.K. Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.5. France Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.6. France Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.7. Italy Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.8. Italy Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.9. Turkey Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.10. Turkey Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.11. Russia Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.12. Russia Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.13. Rest of Europe Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1.14. Rest of Europe Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 5.3.1. Key Highlights
6. Asia Pacific Evaporation Materials Market Outlook, 2018 - 2031
- 6.1. Asia Pacific Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Metals
- 6.1.1.1.1.Precious metals
- 6.1.1.1.2.Alloys
- 6.1.1.2. Non-precious metals
- 6.1.1.3. Compounds
- 6.1.1.4. Others
- 6.1.1.1. Metals
- 6.1.1. Key Highlights
- 6.2. Asia Pacific Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Electronics
- 6.2.1.2. Optics
- 6.2.1.3. Power & Energy
- 6.2.1.4. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
- 6.2.1. Key Highlights
- 6.3. Asia Pacific Evaporation Materials Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
- 6.3.1.1. China Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.2. China Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.3. Japan Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.4. Japan Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.5. South Korea Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.6. South Korea Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.7. India Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.8. India Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.9. Southeast Asia Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.10. Southeast Asia Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.11. Rest of Asia Pacific Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1.12. Rest of Asia Pacific Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 6.3.1. Key Highlights
7. Latin America Evaporation Materials Market Outlook, 2018 - 2031
- 7.1. Latin America Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Metals
- 7.1.1.1.1.Precious metals
- 7.1.1.1.2.Alloys
- 7.1.1.2. Non-precious metals
- 7.1.1.3. Compounds
- 7.1.1.4. Others
- 7.1.1.1. Metals
- 7.1.1. Key Highlights
- 7.2. Latin America Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.2.1.1. Electronics
- 7.2.1.2. Optics
- 7.2.1.3. Power & Energy
- 7.2.1.4. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Evaporation Materials Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Brazil Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.2. Brazil Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.3. Mexico Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.4. Mexico Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.5. Argentina Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.6. Argentina Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.7. Rest of Latin America Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1.8. Rest of Latin America Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 7.3.1. Key Highlights
8. Middle East & Africa Evaporation Materials Market Outlook, 2018 - 2031
- 8.1. Middle East & Africa Evaporation Materials Market Outlook, by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Metals
- 8.1.1.1.1.Precious metals
- 8.1.1.1.2.Alloys
- 8.1.1.2. Non-precious metals
- 8.1.1.3. Compounds
- 8.1.1.4. Others
- 8.1.1.1. Metals
- 8.1.1. Key Highlights
- 8.2. Middle East & Africa Evaporation Materials Market Outlook, by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
- 8.2.1.1. Electronics
- 8.2.1.2. Optics
- 8.2.1.3. Power & Energy
- 8.2.1.4. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.2.1. Key Highlights
- 8.3. Middle East & Africa Evaporation Materials Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
- 8.3.1.1. GCC Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.2. GCC Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.3. South Africa Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.4. South Africa Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.5. Egypt Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.6. Egypt Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.7. Nigeria Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.8. Nigeria Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.9. Rest of Middle East & Africa Evaporation Materials Market by Material Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1.10. Rest of Middle East & Africa Evaporation Materials Market by Application, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 8.3.1. Key Highlights
9. Competitive Landscape
- 9.1. Manufacturer vs by Application Heatmap
- 9.2. Company Market Share Analysis, 2023
- 9.3. Competitive Dashboard
- 9.4. Company Profiles
- 9.4.1. Umicore Group
- 9.4.1.1.Company Overview
- 9.4.1.2. Product Portfolio
- 9.4.1.3. Financial Overview
- 9.4.1.4. Business Strategies and Development
- 9.4.2. Materion Corporation
- 9.4.3. ULVAC, Inc.
- 9.4.4. Nichia Corporation
- 9.4.5. China Rare Metal Material Co., Ltd.
- 9.4.6. GRIKIN Advanced Materials Co., Ltd.
- 9.4.7. Canon Optron Inc.
- 9.4.8. Plasmaterials Inc.
- 9.4.9. Process Materials, Inc.
- 9.4.10. The Kurt J. Lesker Company
- 9.4.11. Aida Chemical Industries Co., Ltd.
- 9.4.1. Umicore Group
10. Appendix
- 10.1.Research Methodology
- 10.2.Report Assumptions
- 10.3.Acronyms and Abbreviations
List of Region/Countries
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Turkey
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
