PUBLISHER: Grand View Research | PRODUCT CODE: 1433716
PUBLISHER: Grand View Research | PRODUCT CODE: 1433716
The global chemical vapor deposition market size is anticipated to reach USD 40.73 billion by 2030 and expand at a CAGR of 9.0% during the forecast period, according to a new report by Grand View Research, Inc. The rapid development in technology facilitating the increasing use of chemical vapor deposition (CVD) process in several applications is expected to drive the market growth over the forecast period.
The rising demand for high-performance materials in aerospace and electronics industry is an important market driver. In addition, government initiatives in emerging economies to increase semiconductor production & innovation in manufacturing technologies are further expected to drive the market.
The key players in the market are keen on advancing chemical vapor deposition technologies with improvements in the components and efficient controls. A new class of CVD machines is being developed where a thin film deposition is done in a wide range of durability, scalability, and tenability with independent control for ion current density and ion energy.
The supply chain design in case of chemical vapor deposition is very complex. The reliance on the complexity of the supply chain is anticipated to grow in the next few years. As a result, companies are restructuring and realigning their businesses to optimize cost structure, increase operational efficiency and effectiveness, reinforce competitive positioning, and hedge against potential supply chain disruptions.
For the market, the threat of substitutes has remained on lower side as product development and technological development are carried out to achieve better reliability and durability with other chemical & physical properties. Moreover, growth in advanced technology, cost reduction, and environment-friendly nature of chemical vapor deposition lead to a higher opportunity for advancements over electroplating.
Market entry strategies are various ways that companies adopt to enter into new or foreign markets. Companies generally use strategies that include licensing, direct exporting, partnering, joint ventures, turnkey projects, acquisitions, and green-field investments. Market entry strategies depend on numerous factors, including tariff rates, trade barriers, competition, export subsidies, price localization, and transportation costs. Hence, key players have adopted various Go-to-Market strategies to develop the market as per their strengths.