Exotic alloys are likely to continue to account for the largest market size during the forecast period 2023-2028, owing to their extensive use across various process-oriented applications, such as liquid/gas process measurement, heat treating, and catalyst research.
Mass flow controllers with a low flow rate accounted for the largest market share of in 2022. The market for these mass flow controllers is expected to grow at the highest CAGR of 14.5% during the forecast period. The low mass flow controller has wide application in various industries like chemical, semiconductor, and food & beverages, etc. where stability is essential. In chemical industries, different processes like heat treatment and testing that requires a low mass flow controller. In the semiconductor manufacturing industry, it is widely used for the doping process.
Gas mass flow controllers accounted for the largest market share in 2022. The gas mass flow controller market is expected to grow at the highest CAGR of 14.4% during the forecast period to reach USD 2,577.3 million by 2028. The increasing use of cleanrooms in semiconductor manufacturing, the requirement for precise control over process gases in the oil and gas industry, and the strict regulations governing emissions from chemical plants are just a few factors contributing to the growing demand for gas mass flow controllers.
The global mass flow controller market for the semiconductor industry is projected to grow at a CAGR of 14.3% from 2023 to 2028. Mass flow controllers are used in the semiconductor industry for various critical applications, such as wafer cleaning, thin film deposition, PCB treatment, chemical vapor deposition, and gas and spray coating. A few processes require mass flow controllers to measure and control low flow rates accurately. For example, gas and liquid flow is adjusted according to the coating thickness requirement in the precision coating application.
Asia Pacific to hold largest market share in forecast period 2023-2028. The rise in innovations and developments in the semiconductor industry significantly drives the growth of the mass flow controller market in Asia Pacific at present, and a similar trend is likely to continue in the near future. The growth of the semiconductor industry in developing countries, such as China and India, further propels the growth of the mass flow controller market.
Intelligent Flow Meter Market by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area, & Differential Pressure), Offering, Communication Protocol, Industry, and Region - Global Forecast to 2025
Flow Meter Market by Type (Differential Pressure, Positive Displacement, Magnetic (In-line, Insertion, Low Flow), Ultrasonic (Spool piece, Clamp-on, Insertion), Coriolis, Turbine, Vortex)), End-use Industry, and Region (2021 - 2026)
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