The global Atomic Layer Deposition Market has reported strong growth in the last few years. Transparency Market Research (TMR) forecasts that the market will continue to exhibiting steady growth between 2016 and 2024 as the use of the ALD technology increases in the production of smartphones, DVD players, printers, and other electronics. A few of the key applications of atomic layer deposition include industrial, biomedical, video games, portable media players, microelectronics, and quality control.
The global ALD equipment market stood at US$875.0 mn in 2015. Exhibiting a CAGR of 29.4% between 2016 and 2024, the market is poised to reach US$8.58 bn by the end of 2024.
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Industrial Expansion to Create New Opportunities for ALD Equipment in Asia Pacific
From the geographic standpoint, North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa constitute the most lucrative markets for ALD equipment.
Among these, Asia Pacific has emerged as the leading regional market due to the increasing application of ALD across core industries. The region held approximately 57.2% of the global ALD equipment market in 2015 in terms of revenue.
As per TMR, the rapid expansion of the automotive, electronics, and semiconductor industries will stimulate demand for ALD equipment in Asia Pacific. The regional market is also likely to gain from the rising demand from medical centers.
According to TMR, the Asia Pacific ALD market, which stood at US$500.5 mn in 2015, is expected to reach US$5.1 bn by the end of 2024. The market is expected to exhibit a CAGR of 29.9% during the forecast period. The increasing use of ALD equipment across industrial set ups is also expected to boost its sales in North America.