Mass Flow Controller Market expected to be worth $1.5 billion by 2024

(IT-NEWSWIRE.COM, April 12, 2019 ) 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", 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.

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Rising adoption of mass flow controllers across different end-use industries such as semiconductors, oil & gas, and chemicals to boost demand for mass flow controllers in APAC during forecast period

APAC is expected to dominate the mass flow controller during the forecast period. Increasing investments in the semiconductors industry and rising demand for efficient devices for measurement and control, and industrial automation are among the major factors driving the growth of the market in this region. Most of the key players operating in the mass flow controller market have their production capacity in APAC as the production cost in this region is lower than that of in other regions.

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Bronkhorst High-Tech (Netherlands), Brooks Instrument (US), Burkert Fluid Control Systems (Germany), MKS Instruments (US), Sierra Instruments (US), Horiba (Japan), Sensirion (Switzerland), Alicat Scientific (US), and Teledyne Hastings Instruments (US) are among a few major players in the mass flow controller market.

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Mass Flow Controller Market expected to be worth $1.5 billion by 2024