Global Microfabrication Market Size (2024 – 2030)

The Global Microfabrication Market was valued at USD 2.49 billion in 2023 and is projected to reach a market size of USD 4 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 7%.

Industry Overview

The adoption of these systems for the production of micro-components in sectors including consumer electronics, healthcare, automotive, and aerospace is what is causing the increase. The market expansion has been further fuelled by the decreasing time needed to manufacture components as a result of the production technologies' ongoing developments. Additionally, several manufacturers, like Johnson Matthey and Tekniker, have demonstrated a preference for laser-based materials over conventional micromachining, which is encouraging for industry expansion.

Production of devices at the micrometre (0.001 mm) or 100 nm scales is referred to as micro- and nanofabrication. Devices are created by creating a pattern and using lithographic processes to transfer it very precisely onto a silicon base layer. Additionally, there is no description of what distinguishes microfabrication from nanofabrication. However, cutting-edge tools and procedures are always being created to tackle the ongoing challenge of decreasing component size in microelectronics. Component sizes that were formerly measured in tens of micrometres are currently being downsized to a few tens of nanometres. Therefore, what was before known as microfabrication was renamed nanofabrication, even if the guiding principles remained largely the same.

The term "nanofabrication" describes the process of creating nanoscale materials and gadgets. One millionth (10-9) of a meter is a nanometre. On a large scale, nanofabrication makes the parallel processing of materials. It is a cost-effective strategy that makes use of the same equipment to achieve a large-scale economy.

Impact of Covid-19 on the industry

Globally, COVID-19 has compelled numerous countries to enact stringent regulations that limit people's freedom of movement. One of these measures was the Singaporean government's "Circuit Breaker" activation in April 2020, which caused businesses and educational institutions to close. These government measures have impacted the production capacities of some key market participants, including Makino and Georg Fischer, Ltd. However, these players submitted exemption petitions to prevent the effects of lockdowns on their supply chain. For instance, Makino Asia has supplied approval for an exemption from the suspension of commercial operations. This has made it possible for the business to pick up production again.

The epidemic has reduced the profits of other businesses in the micromachining market, including IPG Photonics Corporation and Electro Scientific Industries. For instance, the March quarter revenues for IPG Photonics Corporation decreased by more than 20% year over year to USD 249 million. However, in some nations, such as Germany and Russia, the company's production capacity was not significantly impacted. For instance, the business operations in Germany were unaffected at all. In contrast, barely a week's worth of output was halted in Russia. Since ventilators and other breathing aid devices are made using micromachining, several manufacturers have observed a rise in demand for their goods. For instance, in May 2020, Hamilton Medical, a manufacturer of respiratory products, used TORNOS SA's technology significantly.

Market Drivers

Increasing government investments will drive the market growth

The development of micromachining systems has benefited greatly from financing from government organizations like the European Commission (EC) and the National Science Foundation (NSF) of the United States. For instance, Omax Corporation received funding from the U.S. National Science Foundation (NSF) in July 2017 through the Small Business Innovation Research (SBIR) grant for the development of a micromachining abrasive waterjet called the MicroMAX JetMachining center, which has positioning accuracy of fewer than 15 microns. Additionally, a few academic institutions, such as the Bannari Amman Institute of Technology and the Indian Institute of Technology (Mumbai), host workshops that concentrate on the research and development efforts for these systems, which promote the market's expansion.

The rising application of micro components will increase the consumer demand

Manufacturers are benefiting from the growing use of tiny components in extremely complex constructions. The reduction in manufacturing time and the hassle-free production of micro components have both been made possible by the integration of these systems with Computer-Aided Manufacturing (CAM). An application that provides a system's status to operators or supervisors on their cell phones or PCs is one of the new features brought about by the development of machine learning and Internet of Things (IoT) technologies. Positive market growth results from this. These attributes help managers make proactive decisions and raise the unit's productivity.

Market Restraints

The high cost of microfabrication will challenge the market growth

Although there has been a rise in demand for these systems across several industries, it is anticipated that their high price would hurt the market expansion. The intricate procedure of repeatedly depositing thin coatings on the wafer and more labour-intensive production procedures are to blame for the high cost. However, the price of micromachining has greatly decreased thanks to the use of fibre laser markers. This strategy's main advantage is that fibre laser markers are more affordable than standard equipment.

MICROFABRICATION MARKET REPORT COVERAGE:

This research report on the global microfabrication market has been segmented and sub-segmented based on, type, application and Geography & region.

Global Microfabrication Market- By Type

• Traditional
• Non-traditional
  • Electro Discharge Machining (EDM)
  • Electrochemical Machining (ECM)
  • Laser
• Hybrid

In 2021, the non-traditional category controlled the market with a share of roughly 50%. This is explained by the widespread application of technologies like laser, electrochemical machining, and electro-discharge machining (EDM). Superior consistency, simultaneous cutting, material compatibility, and the elimination of finishing are just a few benefits of EDM micromachining. Micro drilling of valve plates and drilling spray holes in diesel and gasoline injection nozzles are two examples of non-traditional systems' uses. Additionally, the industry is growing due to the rising use of non-traditional methods in the production of medical components, micro molds, electronic tools, MEMS sensors, and submersible actuators and motors. Because micro-milling has become a popular and quick method for removing material and producing microstructures, the conventional category is anticipated to grow at a remarkably high CAGR throughout the projection period. In addition, the demand for mass production is rising across a variety of industrial verticals, including the aerospace and defence industries. Additionally, there has been a rise in the use of conventional techniques for producing miniature electronic parts, including micro-step antennas, which is encouraging the expansion of the market. Furthermore, the rise is anticipated to be further fuelled by the expanded usage of these technologies in the production of printed circuit boards for consumer electronics.

Global Microfabrication Market- By Application

• Integrated circuits
• Microelectromechanical systems (MEMS)
• Micro-Opto-Electro-Mechanical Systems (MOEMS)
• Inkjet print heads
• Solar cells
• Flat panel displays
• Microsensors
• Fuel cells

Integrated circuits, microelectromechanical systems (MEMS), micro-opto-electro-mechanical systems (MOEMS), inkjet print heads, solar cells, flat-panel displays, microsensors, fuel cells, and other products can all be made via nanofabrication. During the forecast period, the microelectromechanical systems and integrated circuits segments are anticipated to support the growth of the worldwide nanofabrication market.

Global Microfabrication Market- By Geography & Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

The nanofabrication market may be divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. During the forecast period, Asia Pacific is expected to lead the nanofabrication market. Due to the presence of numerous consumer electronics manufacturers in China, the flat panel displays market segment in the region is anticipated to grow quickly. Due to Japan's strong rate of consumer electronics adoption, the category is also anticipated to drive the market there. The global market for nanofabrication is significantly influenced by Europe and North America. Significant market shares are also held by Latin America and the Middle East & Africa. This is explained by the rise in interest in nanofabrication.

Global Microfabrication Market- By Companies

1. AMADA WELD TECH Co., Ltd.
2. Coherent, Inc.
3. Electro Scientific Industries
4. Georg Fischer Ltd.
5. Han’s Laser Process Industry Group Co., Ltd.
6. IPG Photonics Corporation
7. Makino
8. MITSUBISHI HEAVY INDUSTRIES, LTD.
9. OpTek Ltd.
10. Oxford Lasers

NOTABLE HAPPENINGS IN THE GLOBAL MICROFABRICATION MARKET IN THE RECENT PAST:

• Merger & Acquisition: - In 2022, Coherent has been fully acquired by II-VI Incorporated, becoming a world leader in materials, networking, and lasers. Coherent has been fully acquired by II-VI Incorporated, becoming a world leader in materials, networking, and lasers.
• Merger & Acquisition: - In 2019, A definitive deal was inked by IPG Photonics Corporation (NASDAQ: IPGP) to buy the submarine networks division (SND) of Padtec SA, a Brazilian manufacturer of communications equipment. A supplier of systems and technologies for underwater networking is Padtec SND.
• Merger & Acquisition: - In 2019, The acquisition of OpTek Systems, a top producer of laser processing machinery and a supplier of micro-machining and optical fibre processing services, has been announced by Safety Technology Holdings (STH) with pleasure.