With 8.2% CAGR, ALD Equipment Market Growth to Surpass USD 6.0 billion

The global atomic layer deposition (ALD) equipment market is estimated to be worth USD 4.1 billion in 2022 and is projected to reach USD 6.0 billion by 2027, at a CAGR of 8.2% during the forecast period. Advantages offered by atomic layer deposition and proliferation of 3D NAND SSDs are some of the major factors driving the market growth.

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In recent years, there has been a significant demand for semiconductor devices from various end-user industries due to the emergence of advanced technologies such as IoT, AI, and 5G. To meet this increasing demand, there has been a growing adoption of More-than-Moore applications such as MEMS and sensors, CMOS image sensors, and RF devices, among others. The adoption of these devices facilitates higher device scaling and cost reduction. The increased adoption of More-than-Moore devices has created growth opportunities for players offering ALD tools as ALD can be used for various front-end processes such as surface passivation, wafer level encapsulation, nucleation layers, and dielectric gate deposition. The emergence of technologies such as 5G is expected to create a surge in demand for More-than-Moore devices, increasing the need for advanced deposition techniques such as ALD.

Asia Pacific is expected to register the highest CAGR during the forecast period. Initiatives by various governments are a major factor driving the market growth in Asia Pacific. For instance, the South Korean government announced an expenditure of USD 451 billion by 2030 to strengthen the country's domestic semiconductor production capabilities. The government, along with 151 other companies, is expected to offer funds in the form of a combination of government support packages, tax incentives, and investments by corporates. Similarly, in 2019, China announced a national semiconductor fund of ~USD 28.9 billion to support the country's chip industry. Moreover, the increasing number of research facilities and growing advancements related to the semiconductor industry in Asia Pacific are expected to provide growth opportunities for market players offering ALD equipment.

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Growing adoption of More-than-Moore devices, increase use of ALD for medical devices and rising demand for photovoltaics are expected to create growth opportunities for market players. Due to the rapid depletion of resources, there has been a surge in demand for renewable energy sources. With the help of PV cells and solar panels, energy from the sun can be converted into electricity. The growing demand for photovoltaics is expected to create lucrative opportunities for market players offering solutions for ALD. In solar cells, ALD films can be used as surface passivation layers, buffer layers, window layers, absorber layers, and hole/electron contacts.

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This release was published on openPR.