The robust expansion of both the electronics and the optics industries in recent years has subsequently fueled the demand for evaporation materials. Manufacturing some of the new-age electronic components such as semiconductors, flat panel displays, microelectronic and data storage device is quite difficult in absence of evaporation materials. Persistence Market Research’s new study on the global evaporation materials market reveals that Asia Pacific will remain the most attractive market for evaporation materials over the next couple of years. Moreover, there is a greater preference for evaporation materials as compared to other processing methods such as chemical vapor deposition and sputtering targets. The process involved in evaporation materials is highly conducive for high purity coatings.
PMR’s report titled “Evaporation Materials Market: Global Industry Analysis and Forecast, 2017-2025” projects that the global market for evaporation materials is set to reach US$ 1,243.0 Mn by 2017-end, the figure will further increase to 2,185.0 Mn over 2025, expanding at a CAGR of 7.3%. The report projects that Asia Pacific (APAC) will emerge as the most dominant market for evaporation materials by the end of 2017, reaching a valuation of US$ 604.9 Mn. During the forecast period, APAC’s market is expected to expand at an impressive CAGR of 7.6%. The substantial growth of sectors such as electronics, semiconductor and power & energy is primarily boosting the demand for evaporation materials in the region. Meanwhile, Europe is expected to remain as the second most attractive market for evaporation material throughout the forecast period.
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