High Purity Evaporation Materials Market Share, Size, Demand, Key Players by Forecast 2030

The Global High Purity Evaporation Materials Market is expected to grow to a value of more than USD 1.2 billion by 2030, with a growing CAGR (compound annual growth rate) of over 4.5% over 2022-2030.

For high purity, repeatability, cleanliness, and homogeneity in coatings, evaporation materials are employed in thin film precious metal coatings. They can be used for both thermal and e-beam evaporation processes and come in a variety of forms, such as pellets, granules, starting supplies, etc. Ceramics made from oxide, fluoride, silicide, sulphide, nitride, carbide, boride, selenide, and telluride are some of the main materials used in evaporation. Additionally, alloys, precious metals, and nonprecious metals are employed as evaporation materials. Major end-users of evaporation materials include the electronics, optics, power & energy, packaging, automotive, and aerospace industries.

Drivers
Market expansion is being fueled by governments of various nations, like China and India, focusing more on promoting the use of renewable energy. According to estimates, the worldwide evaporation materials market would rise at a faster rate due to the rising demand for evaporation materials from solar panel producers. Additionally, it is anticipated that over the course of the projection period, increased demand for thin-film solar panels will encourage the market's expansion of evaporation materials.

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Due to their widespread use in the automotive industry for applying coating layers to vehicles, evaporation materials are predicted to develop at a faster rate than the market for automotive refinish coatings. The American Coatings Association claims that the automotive refinish coatings sector is the largest in the United States, with a $2 billion market value in 2014 data. Growing automobile refinish coatings will hence support market expansion during the forecast period.

Global High Purity Evaporation Materials Market- Key trends

Increasing need for evaporation material will help the market growth

This market is expanding as a result of the rising need for evaporation materials across a range of industries, including electronics, optical, power, and energy. Due to their features, including high thermal conductivity, low thermal expansion coefficient, and high melting point, evaporation materials are employed in a variety of applications, including electronics, optical, power, and energy. Due to their extensive range of qualities that make them appropriate for many applications across industries like electronics, optical, and the power and energy sectors, metals accounted for the highest share of the worldwide evaporation material market in 2017.

Expanding chemical industry will drive the market expansion

The ability of alloys to withstand temperatures higher than those of metals without losing any of their physical or chemical characteristics makes them suitable for use in a variety of industrial processes, such as metal casting, where they act as a protective coating on molten metal surfaces during cooling. Compounds only made up a small portion of the world's evaporation material market due to their narrow range of applications in the electronics, optical, power, and energy industries, where they are primarily used as catalysts or additives in chemical reactions to create other compounds with desired properties like colour or viscosity.

Global High Purity Evaporation Materials Market- Segmental assessment

By type
• Pure metal evaporation material
• Compound evaporation material
• Alloy evaporation material
• Others

By application
• Electronic component
• Optical component
• Others

Global High Purity Evaporation Materials Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Mi-Net, MSE Supplies, Kojundo Chemical Laboratory, Materion, Angstrom Sciences, Umicore, Nichia, Canon Optron, Plasmaterials, Kurt J. Lesker, EVOCHEM, Heeger Materials, Honeywell, GRIKIN Advanced Materials, Vital Thin Film Material, HF-Kejing, Rearth Technology, Shenzhen Canyuan Metal Materials, PRAM, Changsha Xinkang New Materials, Suzhou lucky Precision Material, RD Mathis, Stanford Advanced Materials, TANAKA GROUP, among others.

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Frequently Asked Questions
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