Atomic Layer Deposition Equipment (ALD) Market Analysis 2023-2027: Projected Growth, Trend, Scope and Business

The 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. Constantly developing semiconductor industry, proliferation of 3D NAND SSDs and the advantages offered by ALD are the key factors driving the market growth.

The rising demand for smart and connected healthcare solutions, wearables, and implants is expected to drive the ALD equipment market growth for medical applications.

The increasing usage of various logic devices and memory technologies is a significant factor expected to drive the ALD equipment market growth for More Moore applications.

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Opportunity: Rising demand for photovoltaics

Due to the rapid depletion of resources, there has been a surge in demand for renewable energy sources. According to International Energy Agency (IEA), renewable energy accounted for 28% of the total energy globally in 2021.

With the help of PV cells and solar panels, energy from the sun can be converted into electricity. Due to the increasing energy crisis, there has been an increase in demand for solar energy in the last decade. 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. Increasing demand for photovoltaics is expected to drive the market growth for ALD.

Challenge: Technical difficulties and process complexity

Processes involved in manufacturing semiconductors need clean rooms and clean equipment. Even a tiny amount of dust can hamper the process and result in a heavy financial loss.

Delay in supply due to errors during manufacturing may result in additional losses and order cancelations. A few common challenges associated with semiconductor manufacturing include defects associated with raw materials, mechanical integrity, and problems at the chip level. Moreover, advanced and innovative technologies are needed at the fabrication stage to produce high-quality semiconductor devices and ICs. The growing trend of miniaturization has significantly increased the complexity of wafers due to the presence of multiple patterns at the chip level. ALD needs a very high degree of cleanliness. However, it is difficult to maintain cleanliness in ALD when process nodes are extremely small. Moreover, technicians must ensure that there should not be any leakage during ALD as the gases used in the production processes can be hazardous. The increasing number of challenges involved while manufacturing semiconductors may impede the market growth for ALD.