Evaporation Materials Market

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2. EVAPORATION MATERIALS MARKET ANALYSIS Evaporation Materials Market, By Material Type (Metals (Precious Metals, Nonprecious Metals), Alloys, Compounds, Others), By Application (Electronics, Optics, Power & Energy, Others), By Geography (North America, Latin America, Europe, Asia-pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

3. Evaporation Materials Market 2017-2025Evaporation materials are used in the thin film precious metal coatings for providing high purity, reproducibility, cleanliness and uniformity in coatings. They are available in different form such as pellets, granules, starter sources, etc. both thermal and e-beam evaporation process. Oxide, fluoride, silicide, sulfide, nitride, carbide, boride, selenide and telluride ceramics are some of the major evaporation materials. Moreover, precious metal, nonprecious metals, and alloys are also used as evaporation materials. Electronics, optics, power & energy, packaging, automotive, and aerospace are some of the major end-user of the evaporation materials.The global evaporation materials market is projected to reach around US$ 2,515.9 million by the end of 2027, in terms of revenue, growing at CAGR of 7.4% during the forecast period (2019-2027). • Drivers • Growing focus of governments of various countries such as China and India to promote the implementation of renewable energy is propelling market growth. The high demand for evaporation materials from solar panel manufacturers is estimated to foster the growth rate of the global evaporation materials market. Moreover, growing demand for thin-film solar panels is also expected to foster the market the growth of evaporation materials over the forecast timeframe. • Growing automotive refinish coatings market is expected to augment the market growth of evaporation materials as these materials are widely used across the automotive industry for depositing the coating layer into the automobile. According to the American Coatings Association, the automotive refinish coatings segment of the industry is the largest in the U.S., bringing with it a value of $2 billion in 2014 data. Therefore, growing automotive refinish coatings will favor market growth over the forecast period. • On basis of the region, Asia Pacific region dominated the global evaporation material market, in 2018, accounting for 49% share in terms of volume, followed by North America and Europe respectively.

4. Figure 1. Global Evaporation Materials Market, Revenue Share (%), By Region, 2018

5. Market Restraints • Issues associated with the evaporation materials such as difficulties in evaporation rate control of finished products is projected to restrict the market growth of evaporation materials. The quality of evaporation material coatings completely depends on the evaporation rates of materials that need to be controlled carefully in order to produce efficiency in coatings. Therefore, such issues are expected to hinder the market growth of evaporation materials. • The fluctuating cost of evaporation materials as compared to those of materials used in other vapor deposition technology is expected to hinder the market growth. Many industries are looking for alternative applications for promoting sustainable profitability. This the factor will impact the market growth negatively to some extent over the forecast period.

6. Market Opportunities • Rising applications of evaporation materials from decorative high precision coatings, corrosion-resistant coatings, low friction coatings, and wear-resistant coatings are projected to provide opportunities to the market of evaporation materials in the near future. Moreover, the growing demand for evaporation materials from the life sciences and chemical industry is gaining traction in the market and this is projected to continue to support the growth of the evaporation materials market in the near future. • Expanding chemical industry is expected to offer numerous growth opportunities to the market of evaporation materials over the forecast period. According to The Economic Times, The country's chemical industry is expected to grow at around 9% per annum to reach US$ 304 billion by 2025, from US$ 163 billion in 2018. Therefore, the growing chemical industry is expected to foster the market growth of evaporation chemical over the forecast period.

7. Figure 2. Global Evaporation Materials Market– Opportunity Analysis

8. Market Trends • Growing partnerships among major players in order to expand product offerings and expand their presence is expected to augment the market growth of the evaporation materials. For instance, in November 2019, Indium Corporation, a premium materials manufacturer and supplier of electronics assembly materials, and Mycronic, a global leader in dispensing and jet printing equipment, have formed a strategic partnership for the development of no-clean and water-soluble solder pastes for jetting applications. • Increasing focus of manufacturers to adopt smart strategies such as mergers and acquisitions for obtaining a competitive edge in the market is expected to foster market growth over the forecast period. For instance, in April 2019, G Chem has acquired DuPont’s technology related to soluble organic light-emitting diodes (OLEDs). These OLED displays are produced by depositing materials via vacuum thermal evaporation, whereas soluble OLEDs can be deposited with inkjet printing technology.

9. Figure 3. Global Evaporation Materials Market, Revenue Share (%), By Application, in 2018 On the basis of application, in 2018, electronics segment has accounted the largest market share of 48% in terms of value, followed by power & energy and others respectively.

10. Figure 4. Global Evaporation Materials Market – Value Chain Analysis

11. Competitive Section • Key players operating in the global evaporation materials market includes Materion Corporation, Umicore Group, ULVAC, Inc., Nichia Corporation, China Rare Metal Material Co., Ltd., GRIKIN Advanced Materials Co., Ltd., Canon Optron Inc., Plasmaterials Inc., Process Materials, Inc., The Kurt J. Lesker Company, Aida Chemical Industries Co., Ltd.

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