Etching Machine Global Market Report 2024

The etching machine market size has grown rapidly in recent years. It will grow from $10.15 billion in 2023 to $11.44 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth observed in the historical period can be attributed to several factors, including the expansion of electronics manufacturing, the growth of the semiconductor industry, an increase in demand for precision components, and a growing recognition of the importance of training and support services.

The etching machine market size is expected to see rapid growth in the next few years. It will grow to $17.54 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth in the forecast period can be attributed to various factors, including the emergence of 5G technology, an increased demand for MEMS (Micro-Electro-Mechanical Systems) devices, and a growing importance placed on precision engineering. Major trends expected in the forecast period encompass the adoption of environmentally friendly etching solutions, the integration of digital controls and monitoring, customization capabilities, a focus on cost-effective solutions, advancements in microfabrication technologies, a rise in research and development activities, and a heightened focus on green and sustainable technologies.

Anticipated growth in chip demand is poised to act as a driving force behind the expansion of the etching machine market in the foreseeable future. The term 'chip' refers to a microchip or integrated circuit (IC) containing intricate electronic components such as transistors, resistors, capacitors, and interconnections, typically constructed on a small semiconductor substrate, commonly made of silicon. Etching machine control systems utilize memory chips to store program instructions, settings, and data essential for various tasks, process management, and operational efficiency. For example, as per the Semiconductor Industry Association (SIA) report in February 2022, chip sales surged to $555.9 billion in 2021, marking a substantial 26.2% increase from the previous year. Consequently, the heightened demand for chips continues to fuel the growth trajectory of the etching machine market.

An upsurge in the demand for electronic components is expected to drive the expansion of the etching machine market in the coming years. Electronic components, vital elements within a circuit, facilitate circuit operation and control the electron flow in electronic circuits, systems, or devices. Laser etching plays a crucial role in the electronics manufacturing process, particularly in the creation of customized process control boards (PCBs) governing consumer electronics and offering a streamlined system for integrating diverse electronic components. For instance, based on the March 2022 Electronic Components Industry Association (ECIA) report, the actual overall sales sentiment for February stood at 129.4, surpassing expectations by 16.3 points as revealed in the February 2022 Electronic Component Sales Trend Survey (ECST). Consequently, the surge in demand for electronic components acts as a catalyst propelling the growth of the etching machine market.

The etching machine market faces challenges due to intense market competition projected during the forecast period. This competition arises from alternative methods such as laser engraving, cutting, 3D printing, and additive manufacturing, offering capabilities to produce intricate shapes and surface structures through layer-by-layer material addition. These alternatives simultaneously drive innovation, cost-efficiency, and enhancements in etching machine quality and capabilities while presenting challenges. For instance, in a survey conducted by Hubs in May 2023, involving over 1,000 participants, a substantial majority (71%) reported increased usage of 3D printing in 2022 compared to the previous year. Moreover, 76.24% of businesses manufactured over ten parts in their production runs in 2022, marking a significant increase from the 49% recorded in 2021. Hence, intense market competition poses a hindrance to the growth of the etching machine market.

Leading companies in the etching machines market prioritize the development of cutting-edge etching machines integrating plasma and vacuum technology, emphasizing reliable customer service. Plasma technology involves the use of highly ionized and energetic matter to conduct the etching process on materials. Vacuum technology, on the other hand, utilizes controlled low-pressure environments, termed vacuum or reduced pressure, to optimize and facilitate the etching process. For instance, in June 2021, Optorun Co. Ltd., a Japanese firm specializing in optical thin film formation equipment for etching machines, introduced dry etching equipment. This machinery employs both vacuum and plasma technologies, enabling efficient and uniform heating and cooling across the entire substrate during etching. Consequently, this advancement enhances productivity and broadens the scope of applications for etching while addressing concerns associated with waste liquid discharge from traditional wet etching equipment.

In November 2021, Denton Vacuum, a US-based manufacturer specializing in ultra-thin metallic and dielectric coatings, completed the undisclosed acquisition of 4Wave Ion Beam. This strategic acquisition is aimed at expanding Denton Vacuum's product portfolio by incorporating ion beam deposition and etch technologies, equipped with advanced control systems, to cater to its customer base. 4Wave Ion Beam, based in the United States, specializes in the manufacturing of thin-film deposition and etching equipment.

Major companies operating in the etching machine market report are Tokyo Electron Ltd., Panasonic Holdings Corporation, Nucor Corporation, Applied Materials Inc., Lam Research, Trumpf GmbH + Co. KG , Hitachi High-Tech Corporation, Newport Corporation, Coherent Inc., DISCO Corporation, Plansee SE, Han's Laser Technology Industry Group Co. Ltd. , IPG Photonics Corporation, Jenoptik AG, Lumentum Operations LLC, Graepel, Plasma-Therm LLC, Eurolaser GmbH , Trotec Laser , Universal Laser Systems, Epilog Corporation, CVD Equipment Corporation, Suzhou Delphi Laser Co. Ltd. , Advanced Dicing Technologies, Sintec Optronics Pte Ltd.

North America was the largest region in the etching machine market in 2023. The regions covered in the etching machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the etching machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The etching machine market consists of sales of CNC (computer numerical control) milling machines, vinyl cutting plotter machines, and laser cutting machines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of etching machines include electrolytic, plasma, and others. An electrolytic etching machine is a specialized device designed to automate and streamline the electrolytic etching process. The operations can be manual or automatic, utilizing various technologies such as wet etching and dry etching. These machines find applications in diverse fields, including electronic components, integrated circuits, plastic packaging, mobile communications, and are employed by various industries such as automotive and transportation, electrical and electronics, consumer products, medical and surgical instruments, machinery and tools, construction, defense, oil and gas, among others.

The etching machines market research report is one of a series of new reports that provides etching machines market statistics, including etching machines industry global market size, regional shares, competitors with an etching machines market share, detailed etching machines market segments, market trends, and opportunities, and any further data you may need to thrive in the etching machines industry. This etching machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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