Thin film semiconductor deposition market to garner $22 billion by 2022: Research and Markets

Research and Markets in its new report ‘Thin Film Semiconductor Deposition Market- Global Opportunity Analysis and Industry Forecast, 2014 – 2022″, has revealed that global thin film semiconductor deposition market will garner $22 billion by 2022, growing at a CAGR of 14% from 2016 to 2022.

Thin films semiconductors are extensively used in applications such as solar photovoltaic panels, DRAM and flexible OLED & AMOLED displays. Increase in demand for efficiency and circuit miniaturization has supplemented the growth of TFS deposition market.

Thin film deposition technology is of three types, it includes chemical vapor deposition (CVD), physical vapor deposition (PVD), and others. Among all, CVD technology holds a significant revenue share in the world TFS deposition market, owing to its low manufacturing cost, comparatively easier manufacturing process, and extensive use in fastest growing photovoltaic technology.  The research firm also expects CVD technology to witness the fastest growth during the forecast period, with a CAGR of 14.7%.

Among all industry verticals, electronics accounted the largest market share in overall TFS deposition market says the research firm. However, energy & power, is anticipated to witness the highest growth rate among others owing to increase in investment by various countries and replacement of conventional silicon by thin film semiconductors on the panels.

Research and Markets notes that Asia-Pacific is the largest revenue-generating region in this market and among the Asia-Pacific countries; China is the largest market with nearly 50% revenue share due to heavy investment by the country in solar power and electronic giants setting up manufacturing facilities.

Key players in the market have heavily invested in R&D activities to develop high-quality & high efficiency TFS to cater to the growth in demand of TFS across various applications.  According to the report top four leading players, Applied Materials, Tokyo Electron Limited, Lam Research, and Shin-Etsu Chemical Co., Ltd contribute around 40% of the overall market revenue. The key strategies adopted by these leading players are product launch, expansion, acquisition, partnership, and agreement to strengthen their market position and expand their geographical presence.