Mass Flow Controller Market Worth $1.5 billion by 2024 - Exclusive Report by MarketsandMarkets
CHICAGO, April 22, 2019 /PRNewswire/ -- According to the new research report "Mass Flow Controller Market by Material, Media, Connectivity Technology, Flow Measurement (Low, Medium, High), Application, End-Use Industry (Semiconductors, Chemicals, Oil & Gas, Pharmaceuticals), and Geography - Global Forecast to 2024", published by MarketsandMarkets, the Mass Flow Controller Market is expected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2024, at a CAGR of 6.21%. The growth of this market is mainly driven by several factors, such as growing demand for mass flow controllers in semiconductors industry and surging demand for intelligent flow meters in the chemicals and water & wastewater industries.
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Semiconductors industry to hold largest share of mass flow controller market during the forecast period
The growth in the semiconductors industry signifies the growth in the production rate of devices/products such as microcontrollers and processors, memory chips/storage devices, silicon wafers, transistors, and diodes. These products are widely used in the semiconductors industry. Mass flow controllers are used for various critical applications, such as wafer cleaning, thin film deposition, PCB treatment, chemical vapor deposition, and gas and spray coating, in the semiconductors industry. A few processes require mass flow controllers capable of accurately measuring and controlling low flow rates. Rise in innovations and developments in the semiconductors industry significantly drives the growth of the mass flow controller market at present, and a similar trend is likely to continue in the near future.
Mass flow controller market for spray and coating application application to grow at highest CAGR from 2019 to 2024
Coating process such as thin film deposition processes (e.g., reactive physical vapor deposition (PVD)), require a repeatable gas flow of the reactive gas to ensure reproducible film properties. Similarly, feed gas or gas mixture flow rates play a determining role in the quality of film coatings that can be achieved using plasma spray coating processes. As a consequence, accurate, precise, and repeatable control of the flow rates is critical for successful and repeatable plasma spray processes.