PUBLISHER: Grand View Research | PRODUCT CODE: 1493412
PUBLISHER: Grand View Research | PRODUCT CODE: 1493412
The global focused ion beam market size is anticipated to reach USD 2.36 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.3% from 2024 to 2030. Growing demand for 3D nanofabrication and increasing research and development investment drive the demand for focused ion beam solutions.
The COVID-19 pandemic significantly affected the focused ion beam industry. There was an upsurge in demand for FIB systems in semiconductor manufacturing and healthcare research, propelled by the sudden need for vaccine development and medical research and the surge in digital transformation efforts. However, the market faced several challenges, such as supply chain disruptions, reduced capital expenditure, and interruptions to research activities. Supply chain disruptions resulted in delays in project timelines and installations, while financial constraints led to reduced investment in FIB systems, mainly in non-essential sectors.
The growing popularity of 3-dimensional printing and additive manufacturing technologies has increased demand for highly precise 3D nanofabrication techniques. Among these techniques, FIB systems have emerged as a crucial tool for creating intricate 3D structures with nanoscale accuracy. FIB systems have proven to be invaluable for a wide range of applications, including micro-electro-mechanical systems (MEMS), nano-optics, and microfluidics.
Government organizations, academic institutions, and corporations are making significant investments in research and development activities to advance nanotechnology, materials science, and semiconductor technologies. This investment serves as a stimulus for innovation in FIB systems, driving the development of more powerful, efficient, and cost-effective solutions to address the ever-evolving demands of the market. According to the Government Accountability Office (GAO), the U.S. invested over USD 179.5 million in R&D activities of various technologies in 2021, driving the technological development of FIB systems.
The growing trend towards globalization and international trade is promoting market growth. With the expansion of the global economy, businesses are looking to expand their reach to new markets, which often involves the transportation of temperature-sensitive products across borders. The growth of international trade has increased the demand for focused ion beam services, which is expected to continue over the forecast years.