Tech Advancements are Powering the Semiconductor Chemical Vapor Deposition Equipment Market

The total size of the semiconductor chemical vapor deposition equipment market was USD 15.9 billion in 2023. This number will reach USD 23.6 billion by 2030, progressing at a rate of 5.8% by the end of this decade.

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The surge in requirement for semiconductor and microelectronic devices, tech progressions in the semiconductor sector, and the increase in the use of semiconductor materials in AI programs for example autonomous vehicles, IoT, and AI-driven electronics contribute to the growth of the industry.

Furthermore, strict regulations with regards to the use of hexavalent chromium for electroplating are also powering the industry.

The memory manufacturer category will grow the fastest in the future, at a rate of more than 6%. The growing data consumption at the global level is responsible for the increased requirement for memory products.

This brings about the expansion of the memory business, and also due to the growing requirement for these products from the data center and consumer electronics sectors. Consequently, these factors account for the industry development in this category.

While, integrated device manufacturers dominated semiconductor chemical vapor deposition equipment market with a share, of more than 50%, in 2023, and this trend will continue in the future as well, powering at a considerable rate. This is because of the growing use of thin-film deposition in the semiconductor sector to produce ICs or microchips. Also, the mounting sales of consumer electronic and microelectronic products will power the industry.

The semiconductor sector is growing at a high pace, directly leading to the development of the industry. The growth of the industry can be credited to the increasing consumption of electronic devices globally; the growing requirement for automotive electronics for collision detection systems, navigation control and infotainment systems; and the growing requirement for wireless communication systems, industrial electronics, and data storage devices. Semiconductors are widely used in all these systems.

Furthermore, semiconductors are put to use in wearables and web-integrated medical and healthcare devices, which also powers the growth of the industry.

China was the leading country in terms of revenue in the APAC region, and the world in 2021 and this domination will continue in the years to come as well. This has a lot to do with the fact that the nation is one of the key producers of semiconductor-based chips at a global level, widely used in mobiles, storage devices, laptops, and other electronic products.

Expansion of the Construction Sector in Developing Countries Expands Flame Retardants Market

In 2021, the flame retardants market generated $7,565.1 million, progressing at a 5.3% rate from 2021 to 2030, to hit the $12,028.4 million revenue in 2030, owing to technological advancements, rising research & development activities, and expanding end-use industries. In addition, the increased strictness of regulations on fire safety in various countries boosts the market.

Moreover, the non-halogenated flame retardants hold a substantial share of the flame retardants market, and it is expected to rise by 5% in the near future, as these chemicals possess smoke suppression, thermodynamic characteristics, along with exceptional flame retardancy, resulting in their increased preference for anti-fire applications across industries.

Additionally, the massive popularity of these chemicals is attributed to government initiatives led by increasing environmental concerns to minimize the halogenated compounds. These compounds adversely impact humans causing various health disorders such as pneumonitis, airway obstruction, dyspnea, airway obstruction, pulmonary edema, and ARDS.

Furthermore, the non-halogenated flame retardants based on phosphorus are expected to witness significant consumption in the flame retardants market in the coming years, ascribed to the non-toxic nature and thermal stability of these materials. In addition, rising concerns over the harmful effect of halogenated chemicals cause a surge in the several aromatic phosphates development.

The rising strictness of worldwide fire safety standards and regulations is predicted to result in an increasing requirement for flame retardants. For example, the general fire safety in England and Wales is governed by the Regulatory Reform Order 2005. Similarly, the general fire safety requirements in Scotland are covered in Part 3 of the Fire Act, which is a supplement to the Fire Safety Regulations 2006 of the country.

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Importance of Second-Life Automotive Lithium-Ion Battery

One of the suggested ways to lower the price of electric vehicles is to reuse the batteries after they have been discontinued from use in automobiles. The economic viability of such a solution has been examined in great detail in the literature, and certain automakers have lately started running several initiatives to show the technical practicality of the so-called battery second life.

The growing use of EVs is a significant element in the increasing need for EV batteries, fueling the expansion of the second-life automotive lithium-ion battery market. Global EV sales are fueled by growing environmental concerns, particularly caused by the accelerating pace of ozone depletion.

Approximately 43% of all greenhouse gases released today come from the vehicle industry. As a result, several government efforts to protect the environment are being made possible by the growing environmental worries over the degradation of the air quality brought on by an increase in car exhaust gases.

Why Reusing EV Batteries?

The lithium batteries in EVs will probably still have more than 2/3 of their useable energy storage over 8 to 12 years in a vehicle. Used EV batteries may provide 5-8 more years of life in a different application, depending on their state.

Reusing EV batteries can help reduce environmental consequences and increase supply security by being used in off-grid, household, and distribution grid markets. These batteries increase material efficiency and provide significant social and economic benefits for the energy and automobile industries.

In certain applications, used batteries may cost 35 to 75 % less in future than brand-new ones, tying up a lot less cash per cycle.

The Future of Energy Storage

As per cycling requirements, there are multiple applications for re-purposed batteries. One is that storing sustainable energy for power backup is an essential utility that improves system flexibility.

Additionally, a battery is only needed in this instance for a tiny fraction of the time, which indicates that it may still provide the grid with a variety of additional services. A costly and frequently unstable grid connection. Every citizen must have access to dependable, reasonably priced energy that meets the bare necessities if we achieve the all-electric ideal.

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Increasing Demand for Pharmaceuticals Proliferates the Reefer Container Industry

The sales of reefer containers are projected to capture 7,064.3 thousand TEU in 2030. Numerous factors affect the industry growth such as the rising number of trade routes, expansion of the e-commerce industry, growing pharmaceutical drugs demand, and the emergence of real-time tracking technology.

Under the size segment, the 40-feet reefer containers are projected to experience the highest CAGR in the coming future. It is their design that makes them highly suitable for carrying voluminous cargo, instead of heavy cargo.

In addition, the cost of 40-foot containers and 20-foot containers is similar, ranging between $7,500 to $8,500. Therefore, the higher capacity and a little difference between containers’ costs are projected to result in the high usage of 40-foot containers in the coming years.

Under the transportation mode segment, the seaways category captures an extensive share of the reefer container industry, and it is projected to retain its position in the coming years. It is ascribed to the fact that 90% of international trade is conducted by over 100,000 commercial ships. Therefore, barges are often utilized for carrying a large volume of cargo on canals, and rivers.

Under the industry segment, the pharmaceutical sector is projected to experience the highest CAGR in the near future. It is led by increasing biologics demand, along with the surging requirement for temperature-controlled containers for storage and transportation of vaccines, cellular therapies, and blood products.

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