Global Metal Organic Chemical Vapor Deposition Market Trends & Forecast to 2026 - Increasing Penetration of AI Applications, Growing Global Demand For Photovoltaic Cells and Growing Popularity of Micro-LEDs

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Dec 01, 2023, 11:30 ET

DUBLIN, Dec. 1, 2023 /PRNewswire/ -- The "Global Metal Organic Chemical Vapor Deposition (MOCVD) Market (by Application, Category, & Region): Insights & Forecast (2022-2026)" report has been added to ResearchAndMarkets.com's offering.

Today's world depends heavily on semiconductors and the related low-dimensional nanostructures. Lasers, light-emitting diodes, quantum-dot photodetectors, and ultraviolet optoelectronics are a few examples that have undergone extensive research and are employed in both business and military applications. Therefore, it is crucial to comprehend the dynamics of how metalorganic chemical vapor deposition (MOCVD) produces semiconductor nanostructures. Chemical vapor deposition techniques such as MOCVD are often employed in industry to epitaxially produce compound semiconductors.

The demand for MOCVD process has grown significantly in the recent years as a result of the rising demand for semiconductors owing to the increasing demand for consumer electronics and microelectronics. Additionally, it is anticipated that the rise of end-use applications for autonomous technology, such as the autonomous automobile, would result in rapid growth of MOCVD throughout the projected period.

The global metal organic chemical vapor deposition market is expected to be valued at US$1.38 billion in 2023, growing at a CAGR of 10.46% during the forecast period.

Segments Covered

By Application: The market report has segmented the global metal organic chemical vapor deposition market into six different segments on the basis of application: microelectronics, data storage, solar products, cutting tools, medical equipment, and others. The microelectronic MOCVD segment held the highest share in metal organic chemical vapor deposition market, owing to increasing adoption of microelectronics devices such as resistors, transistors, capacitors, inductors, diodes, and others in various industries across the globe.
By Category: The report splits the global metal organic chemical vapor deposition market into three segments in terms of category: MOCVD Equipment, MOCVD Materials, and MOCVD Services. MOCVD services is the fastest growing segment expanding at a highest CAGR during the forecast period, due to the growing demand for advancement in technology in coming years.

Geographic Coverage

Asia Pacific enjoyed the major share of the total of the global market, primarily owing to the increasing production and sales of passenger vehicles, and the high demand for automobiles and increasing income levels which have resulted in the rising growth of mid-sized premium and luxury car segments in the region. Therefore, augmenting the MOCVD market growth. China MOCVD market is booming at a rapid pace, thanks to the favorable Government intervention and high production of LED.

Top Impacting Factors

Growth Drivers

Increased Demand for Consumer Electronic Devices
Rise in Automotive Industry
Rapid installation of MOCVD base
Rising Use of MCOVD in the Manufacturing of Multilayer Semiconductor Structure
Escalating Use of Advanced Medical Equipment

Challenges

High Cost Associated with MOCVD Manufacturing
Health Concerns Associated with MOCVD Manufacturing

Trends

Increasing Penetration of AI applications
Growing Global Demand For Photovoltaic Cells
Growing Popularity of Micro-LEDs

Driver: Increased Demand for Consumer Electronic Devices

Rising demand for smartphones, artificial intelligence, and voice recognition technologies, as well as the replacement cycles and falling prices of various electronics devices, are some of the primary drivers of future consumer electronics growth. The surge in demand for consumer electronics is directly impacting the growth in MOCVD market, especially due to growth in demand for semiconductor market, which is a major end-user of MOCVD market. Most of the consumer electronics devices use semiconductor devices such as memory chips, microprocessors, commodity integrated circuit, etc., these semiconductors are grown using MOCVD as their raw material. Therefore, demand for consumer electronic goods have a positive effect on the growth of MOCVD market in recent years.

Challenge: Health Concerns Associated with MOCVD Manufacturing

MOCVD precursors are very hazardous. Carbon contamination and unintentional hydrogen incorporation are a major problem in MOCVD. This results in unintentional p-type doping. So for proper doping, the proper V/III ratio is chosen and the suitable amount of carbon gas is injected to remove out CH3 or C2H5 groups for removing contamination. Also, as the human body absorbs organic compounds very easily, the metal organics are very easily absorbed by humans. Once in the body, the weak metal organic bond is easily broken, thus, poisoning the body with heavy metals that often cannot be easily removed by normal bodily functions. Therefore, one drawback of MOCVD is the toxic and explosive nature of the precursor gases, which makes them difficult to use.

Trend: Increasing Penetration of AI applications

AI has grown in popularity as a result of greater data quantities, improved algorithms, and advancements in processing power and storage. Robotic process automation will shorten the time required to accomplish repeated operations, making the strategy less burdensome and more successful. AI-powered smartphone applications and other mediums will aid in determining what people desire. Data-driven insights result in more tailored solutions and better engagement. The benefits of AI would be driving the demand for AI devices which would require installation of components such as microelectronics, laser, LED lighting & chips, and even transistors, which would increase the demand for MOCVD used in manufacturing such components in coming future.

Company Profiles

Advanced Micro-Fabrication Equipment
Agnitron Technology
AIXTRON
Alliance MOCVD
CVD Equipment
JUSUNG Engineering
Nichia Corporation
Nippon Sanso Holding
Qingdao Jason Electric
Samco
Toshiba
Veeco Instruments

For more information about this report visit https://www.researchandmarkets.com/r/467n53

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