EVAPORATION MATERIALS MARKET ANALYSIS

Market Challenges And Opportunities

Global Evaporation Materials Market: Growth Drivers

Technology benefits over sputtering targets are driving the market for evaporation materials

Materials provide very high purity coatings compared to evaporation because of the extreme vacuum conditions used during the process. Additionally, compared to sputtering targets, very high film deposition rates are achieved in evaporation materials. In addition, there is less substrate surface damage caused by impinging atoms as the film is shaped. Sputtering, on the other hand, causes more damage because it contains high energy particles. Moreover, unintentional substrate heating is less common in evaporation materials. These application benefits of evaporation materials are propelling the global evaporation materials market growth. As opposed to sputtering, it should be noted that thermal evaporation is a more mature technology. Comparing it to sputtering technology, it is a more advanced technology with easy access to skilled and trained operators everywhere in the globe. Additionally, the market for evaporation materials is anticipated to be strongly driven by the numerous applications of thermal evaporation in terms of coating numerous material types for standard coating applications. As a result, evaporation materials have been in high demand for a variety of applications across numerous industries.

Government support for solar energy initiatives

Governments in various countries, including China and India, have been seen to promote the use of renewable energy. Solar panels, which harness solar energy, are an important adoption. Solar panel manufacturers have a high demand for evaporation materials.

The expansion of the solar energy industry, fueled by government initiatives, is expected to accelerate the growth rate of the global evaporation materials market. The consistent increase in demand for thin film solar panels is also a major driving factor in solar energy applications.

Global Evaporation Materials Market: Market Restraints

Fluctuating cost of evaporation materials & difficulties in evaporation rate control of finished products

Issues associated with the evaporation materials such as difficulties in evaporation rate control of finished products is projected to restrict the market growth of evaporation materials. The quality of evaporation material coatings completely depends on the evaporation rates of materials that need to be controlled carefully in order to produce efficiency in coatings. Therefore, such issues are expected to hinder the market growth of evaporation materials.

The fluctuating cost of evaporation materials as compared to those of materials used in other vapor deposition technology is expected to hinder the market growth. Many industries are looking for alternative applications for promoting sustainable profitability. This the factor will impact the market growth negatively to some extent over the forecast period.