MO (Metal Organic) source market REPORT OVERVIEW
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The global MO (Metal Organic) source market size was USD 126.5 million in 2020 and is projected to touch USD 303.2 million by 2027, exhibiting a CAGR of 13.3% during the forecasting period. The global COVID-19 pandemic has been unprecedented, staggering, as the MO (Metal Organic) source market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Metal-organic sources (MO sources) are chemical compounds that are utilised in the creation of thin films and coatings in a variety of industries, including electronics, optoelectronics, and photovoltaics. Metal atoms are linked to organic ligands to form coordination complexes in these molecules. MO sources are extensively employed in metal and metal oxide thin film deposition processes such as chemical vapour deposition (CVD) and atomic layer deposition (ALD).
MO (Metal Organic) source are essential in the creation of sophisticated materials and electronic devices. They enable exact control over the deposition process, allowing the manufacture of high-quality films with particular qualities. For depositing certain materials, different metal-organic precursors are utilised. For example, trimethylaluminum (TMA) is a commonly used MO precursor for producing aluminium oxide films, whereas tetrakis(dimethylamino)titanium (TDMAT) is utilised for depositing titanium dioxide films. The metal-organic source market was primarily driven by rising demand for improved electronic gadgets, semiconductors, and solar cells. This demand was spurred by technology improvements, particularly in areas such as smartphones, tablets, LED lighting, and solar energy.
COVID-19 Impact: Pandemic Caused Increased Focus on Healthcare and Biotechnology Decreased the Market Growth
The pandemic of COVID-19 has had a substantial influence on many industries, including the market for MO (Metal Organic) source supplies. While some companies suffered disadvantages, the epidemic shifted attention to the healthcare and biotechnology sectors. MO sources may have found applications in medical device and diagnostic studies, albeit their influence would be limited in comparison to broader industrial applications.Many industries, particularly those related to non-essential consumer items, saw a drop in demand as a result of lockdowns, economic uncertainty, and decreased consumer spending. This decreased demand had a direct impact on the demand for MO sources in industries such as electronics and autos.
LATEST TRENDS
"The Applications in Energy Storage and Solar Energy to Shoot Up the Market Share"
MO (Metal Organic) source are being investigated for use in energy storage devices including batteries and supercapacitors. The discovery of new materials and technologies as a result of this research and development has increased demand for MO sources in energy storage applications. Metal-organic precursors are used in the manufacturing of thin-film photovoltaic cells in the solar industry. Solar panels and related technologies are in high demand as the globe continues to focus on sustainable energy sources.
MO (Metal Organic) source market SEGMENTATION
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- By Type Analysis
Based on type, the MO (Metal Organic) source market is subdivided into Trimethylgallium (TMGa), Triethylgallium (TEGa), Trimethylindium (TMIn), Trimethylaluminium (TMAl) and other MO sources.
The Trimethylgallium (TMGa) is the leading part of the type segment.
- By Application Analysis
Based on the applications, the MO (Metal Organic) source market is subdivided into LED industry, solar cell, phase change memory, semiconductor laser and others.
The LED industry is the leading part of the application segment.
DRIVING FACTORS
"The Utilities in Semiconductor Manufacturing and LED Lighting to Soar High the Market Share"
MO (Metal Organic) source are required for the deposition of thin films utilised in semiconductor device fabrication. The semiconductor industry continues to be a primary driving force for MO sources as demand for smaller, faster, and more powerful electronic devices grows. LEDs have grown in popularity due to their energy efficiency. High-quality LED materials are manufactured using metal-organic sources, which is a significant market driver. MO sources are used by the LED industry to make high-quality thin films for LEDs. MO sources are in high demand in the LED market due to the growing adoption of energy-efficient lighting solutions.
"The Emerging Technologies and Focus on Miniaturization to Advance Up the Market Share"
MO (Metal Organic) source are essential for new technologies including flexible electronics, organic electronics, and quantum dot displays. Wearable devices, flexible screens, and enhanced sensors are just a few of the applications where these technologies are driving innovation. The necessity for accurate and regulated material deposition has increased as electronic devices get smaller and more compact. MO sources enable the creation of thin films with nanoscale precision, hence helping the trend of electronic miniaturisation.
RESTRAINING FACTORS
"The Toxicity, Limited Availability and High Cost to Set Back the Market Growth"
Some MO precursors contain poisonous or dangerous ingredients. When working with these materials, proper safety precautions such as fume hoods, personal protective equipment, and waste disposal methods are required. It is critical to ensure the safety of researchers and personnel. Some specialised MO precursors, particularly those developed for specific purposes, may be in short supply. For companies that demand a consistent and substantial quantity of high-quality precursors, limited supply might be a bottleneck. MO sources, especially those of high purity and customised to specific applications, can be costly. For companies with limited budgets, the cost of these precursors can have a considerable impact on the overall production cost of electronic devices and materials. These factors will limit the MO (Metal Organic) source market growth over the forecast period.
MO (Metal Organic) source market REGIONAL INSIGHTS
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"Asia Pacific to Lead With Rapid Growth of the Electronics Market And Innovative Manufacturing"
The Asia Pacific region is projected to grow with the highest growth rate as the global demand for improved semiconductor devices drives the MO (Metal Organic) source market share. Asia-Pacific countries such as China, Japan, South Korea, and Taiwan are leaders in electronics manufacture and innovation. These countries have a thriving semiconductor industry and are major MO source consumers. Furthermore, the rapid growth of the electronics sector in this region's emerging economies contributes to the demand for MO sources.
KEY INDUSTRY PLAYERS
"The Prominent Players Contributing in the Market Growth"
The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the forecasted period is listed in the report.
List of Market Players Profiled
- Nata Opto-electronic (China)
- SAFC Hitech (U.K)
- AkzoNobel (Nouryon) (The Netherlands)
- Jiang Xi Jia Yin Opt-Electronic (China)
- Albemarle (U.S.)
- Chemtura (U.S.)
- Sumitomo Chemical (Japan)
- Ube Industries (Japan)
- Lake Materials (South Korea).
REPORT COVERAGE
The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 126.5 Million in 2020 |
Market Size Value By |
US$ 303.2 Million by 2027 |
Growth Rate |
CAGR of 13.3% from 2020 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the MO (Metal Organic) source market expected to touch by 2027?
The global MO (Metal Organic) source market is expected to touch USD 303.2 million by 2027.
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What CAGR is the MO (Metal Organic) source market expected to exhibit by 2027?
The MO (Metal Organic) source market is expected to exhibit a CAGR of 13.3% by 2027.
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What are the driving factors of the MO (Metal Organic) source market?
The utilities offered in semiconductor manufacturing, LED lighting, emerging technologies and focus on miniaturization are the driving factors of the MO (Metal Organic) source market.
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Which are the top companies operating in the MO (Metal Organic) source market?
Nata Opto-electronic, SAFC Hitech, AkzoNobel (Nouryon), Jiang Xi Jia Yin Opt-Electronic, Albemarle, Chemtura, Sumitomo Chemical, Ube Industries, Lake Materials, ARGOSUN MO, Suzhou Pure Opto-Electronic, Entegris, Inc and others are the top companies operating in the MO (Metal Organic) source market.
