Rising Demand for Medical and Aerospace Sectors Is Anticipated to Boost Electrostatic Chuck Market

Rising Demand for Medical and Aerospace Sectors is anticipated to boost Electrostatic Chuck Market during the forecast period 2021-2026.

The market for electrostatic chucks is estimated to be 376.2M in 2020 and is estimated to reach 491.7M by 2026 with a CAGR of 4.66% during the forecast period 2021-2026. The growth in the semiconductor industry is the major factor contributing to the market growth rate. With the demand from the smartphones, wireless communication, smart TVs, LED lighting and so on are the key factors contributing to the growth of semiconductor industry which is further contributing to the market growth rate. As stated by SIA, The U.S. industry invests about one-fifth of revenue in R&D, among the most of any sector. Hence these investments are boosting the market growth rate. The significant growth in the semiconductor industry is analyzed to be major driving factor for the Electrostatic chucks market owing to the wide employment of these chucks in the lithography, etching and other manufacturing processes involved.

COVID-19 has negatively impacted the Electrostatic Chucks market in 2020 with the halt in the production across various countries. The global lockdowns to curb the virus have led to the decrease in manufacturing sectors including automotive, consumer electronics, chemicals and so on, which significantly resulted in the decline of market. Adding to this, the development of new COVID strains in countries such as US, UK, Nigeria and so on during end of 2020 to the beginning of 2021 is further resulting in the lockdown and impacting the manufacturing sector thereby constraining the market growth rate. With its high level operational capabilities, a semiconductor finds a massive range in semiconductor in aerospace devices such as data processing units, computers, data display system and aircraft guidance control assemblies. Besides, this the increasing investments in China serves an opportunity for the players to come up with new products in the future. For instance, in May 2020 Shanghai-based chip maker semiconductor manufacturing international Corporation 0981.HK has secured an investment worth $2.2billion dollars from Chinese state investors.

With the growing up gradation of existing technologies, along with the rising developments in the U.S. and the up surging demand of semiconductors in the aerospace and defense sectors is opening opportunities for the key players to expand its product portfolio. For instance, according to a recent study the U.S. Defense Department will soon start soliciting proposals for a program to provide incentives to boost the semiconductor manufacturing capabilities in the U.S. Exploring new technology platforms and production techniques and applying them in the product development process gives the players of electrostatic chucks the opportunity to create improved product solutions that enable customers to stay at the forefront of their industries. Therefore, the continuous investment by the players and organizations in research and development to expand the scope of application of electrostatic chucks in military & defense is creating opportunities for Electrostatic Chucks Market. For instance, on 2017 the U.S. spend $55.4billion on defense R&D, more than four times as much on defense R&D than the rest of the OECD countries combined.

The global increase in the number of people suffering from various diseases and the rising demand of electrostatic chucks for the manufacture of healthcare devices in the healthcare industry is set to propel its market growth. Many devices used in the healthcare depend on semiconductor manufacturing technology. These include sensors and motion micro-electromechanical systems (MEMS), communication integrated circuits, microcontroller, discrete devices, memory power management devices which are being used in field such as clinical diagnostic and therapy, medical imaging, portable and home healthcare. Hence, the increasing number of people suffering from cancer and the wide usage of medical imaging for early diagnosis is set to propel its market growth. For instance, according to National Cancer Institute, in 2020, an estimated 16,850 children and adolescents ages 0 to 19 will be diagnosed with cancer and 1,730 will die of the disease.

Electrostatic Chucks top companies include NGK Insulators, Shinko Electric, Tomoegawa, Kyocera, Coorstek and others. In December 2019, Coorstek Inc., a leading global manufacturer of engineered ceramics, proudly hosted all ten of its Coorstek Research Fellows from Colorado School of Mines at a recent research symposium. In addition, the Coorstek Research Fellows program was first launched in 2014 from a $27million donation from the Coors family to fund the research program and a 95,000 square-foot Coorstek for applied science and engineering building on the mines campus.