The Micromachining market was valued at US$ 2,865.1 Mn in 2018 and is projected to reach US$ 5,488.2 Mn by 2027; it is expected to grow at a CAGR of 7.6% from 2019 to 2027.
The constant technology advancements in various industries are pushing manufacturers to implement miniaturization in order to cope up with rising demands of micro components in industries such as aerospace, electronics, defense, automotive, and healthcare. With this miniaturization trend, micromachining has increasingly becoming crucial for the fabrication of micro components. In industry such as medical, reduced size of medical tools has led to pain free diagnosis and surgeries. The medical industry is witnessing a boost in the demand for micro and nano-sized surgery equipment. In addition to this, the advancements in wearables and other personalized healthcare gadgets are also expected to fuel the growth of micromachining processes in this industry. With reduced size and weight, the value and convenience of products can be substantially elevated. The growing demand for miniature parts is leading to innovations in the designing of manufacturing tools and systems. The fast growth in Micro Electro Mechanical Systems (MEMS) research and development is further complementing the growth of micro level manufacturing. Micromachining is one such technology that has the potential to transform the traditional manufacturing processes. The applications of micromachining techniques are anticipated to grow at an impressive pace during the forecast period in industries such as aerospace & defense, medical, telecommunications, semiconductor & electronics, automotive, industrial, and others. Micromachining is a technique used for the fabrication of 3D structures on a micrometer scale (μm). The scope of micromachining includes processes such as cutting, ablation, drilling, texturing, and scribing among others. Each of these processes requires some kind of material removal. Various raw materials can be machined with the use of different micromachining techniques, including metals, polymers, alloys, ceramics, and glass. Micromachining services and systems are being widely used in industries such as aerospace, defense, optical, medical, telecommunications, semiconductor, microelectronics, automotive, and industrial for the fabrication of micro-components. From past few years, the trend of miniaturized micro-devices has been growing at an unprecedented rate in all the above mentioned industries; however, the fabrication of micro-components and structures is still a challenging task for many of these industries. The fast-evolving technological landscape globally is further driving the need for innovation in conventional machining techniques and tools to meet the modern industry’s design requirements.
APAC is also expected to be the fastest-growing region in the global micromachining market during the forecast period. The fast growth of micromachining market in the APAC region is attributed to the huge presence of various manufacturing companies in countries such as China, Japan, and South Korea. The growing industrialization, fast population growth and positive economic outlook are some of the major factor that are anticipate to drive the growth of micromachining market in this region. Developing countries such as China and India are expected to offer ample growth opportunities for the micromachining market players during the forecast period. In the global micromachining market, China and Japan contributed to more than half of the overall share of market in APAC. Due to positive initiatives of policymakers and regulators in various developing countries to support digital transformation and promote industrial growth. The recent strategic initiatives such as “Made in China 2025 Initiative,” by China and “Make in India” by India are examples of such initiatives that are focused on boosting manufacturing sector and industrialization in these countries.
Lucrative Regions for Micromachining Market
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Market Insights
Robust growth of semiconductor and electronics sector
Semiconductors and electronics industry play a crucial role in the global economy in terms of both revenue and growth. The global semiconductor as well as electronics industry is witnessing a robust growth rate from past few years owing to continuous technological advancements and investments in research and development activities. The penetration of advanced technologies such as artificial intelligence (AI), 5G, Internet of Things (IoT), and autonomous vehicles in various industries is pushing the limits of every industry and presents a huge growth opportunity for the global semiconductor & electronics industry. According to the latest Deloitte study on ‘Semiconductors – the Next Wave (2019)’, the global semiconductor industry’s overall revenue is anticipated to rise from US$ 481 billion in 2018 to US$ 543 billion in 2022 with a robust growth rate. Increasing demand for miniature components, support for multiple wireless technologies, faster data rates, and longer battery life are some of the demands that are pushing Integrated Circuits (ICs) manufacturers to look beyond the traditional manufacturing techniques.
Process-Based Market Insights
On the basis of process, the global micromachining market is segmented into photolithography, laser machining, micro-EDM, and micromechanical machining. Photolithography process is used for the microfabrication of various components through the transfer of geometric patterns over a substrate or a film. In the semiconductor components, these geometric shapes and patterns form various complex structures to allow dopants, wires and electrical properties form a circuit to complete the end technological purpose. In the general photolithography process, there are various steps involved, some of these steps include wafer cleaning, formation of barrier layer, photoresist application, soft baking, mask alignment & exposure, development, and hard baking. Photolithography process is widely used to manufacture integrated circuits (ICs) used in the electronics and semiconductor industry.
Raw Material-Based Market Insights
On the basis of raw material, the global micromachining market is categorized into metals & alloys, polymers, glass & quartz, and ceramics. Polymers are defined as materials that are made of long and repeating chains of various types of molecules. Polymers are characterized by unique properties such as high melting point, high boiling point, high elasticity and high strength etc., depending on the type of bonding molecules. Polymers can be either natural or synthetic and they are sometimes used to describe plastics (synthetic polymers). Micromachining is used for various applications including custom plastic parts fabrication, patterning of metalized plastics, small hole drilling, precision cutting of polymers, polymer circuit excision, blind channels and others.
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Micromachining Market: Strategic Insights
Market Size Value in US$ 2,865.1 Million in 2018 Market Size Value by US$ 5,488.2 Million by 2027 Growth rate CAGR of 7.6% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Micromachining Market: Strategic Insights
| Market Size Value in | US$ 2,865.1 Million in 2018 |
| Market Size Value by | US$ 5,488.2 Million by 2027 |
| Growth rate | CAGR of 7.6% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Product development is the commonly adopted strategy by companies to expand their product portfolio. 3D-Micromac AG, IPG Photonics Corporation, Oxford Lasers Ltd, Amada Miyachi, Inc., and KJ Laser Micromachining, among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Micromachining market, which in turn permits them to maintain their brand name. A few of the recent key developments are:
- In 2019, Amada Miyachi America Secures Large Order for Laser Micromachining Systems.
- In 2018, 3D-Micromac unveils laser based high-volume preparation solution for semiconductor and materials failure analysis.
Micromachining Market Segmentation:
By Process
- Photolithography
- Laser Machining
- Micro-EDM
- Micromechanical Machining
By Raw Material
- Metals & Alloys
- Polymers
- Glass & Quartz
- Ceramics
By Application
- Aerospace & Defense
- Medical
- Telecommunications
- Semiconductor & Electronics
- Automotive
- Industrial
- Others
Company Profiles
- 3D-Micromac AG
- 4JET microtech GmbH
- IPG Photonics Corporation
- KJ Laser Micromachining
- OpTek Ltd.
- Oxford Lasers Ltd
- PhotoMachining, Inc.
- Potomac Laser
- Reith Laser B.V.
- Amada Miyachi, Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Process ; Raw Material ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- 3D-Micromac AG
- 4JET
- IPG Photonics Corporation
- KJ Laser Micromachining
- OpTek Ltd.
- Oxford Lasers Ltd.
- PhotoMachining, Inc.
- Potomac Laser
- Reith Laser B.V.
- Amada Miyachi, Inc.
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