Wilmington, Delaware, United States, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The physical vapor deposition market was worth US$ 19,248.2 million in 2018. The physical vapor deposition market is predicted to reach US$ 40,110.4 million by 2027. Physical vapor deposition market revenue is expected to rise at a CAGR of 8.5% from 2019 to 2027.
Physical vapor deposition is a vacuum-based coating process. The chemical reactions involved in the process include evaporation, transport, reactions, deposition, and reactions at the atomic level. Substrates made of organic or inorganic materials can be improved by using this eco-friendly method to enhance their surface properties in order to achieve more aesthetic properties.
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Physical vapor deposition is expected to grow in popularity across different markets as more and more customers are opting to use plastic materials in place of metal throughout the electrical industry. Physical vapor deposition (PVD) is more popular than conventional coating technologies, which is driving the growth of the PVD market.
Key Findings of the Market Report
- The PVD equipment market is expected to lead the market due to increasing demand for heating, vacuum, and coating equipment.
- Increasing medical infrastructure and investment into medical equipment applications will lead to an increase in the PVD market.
- Innovations in PVD technologies and increasing demand for electronics will drive PVD market.
- North America and Asia Pacific region are expected to drive demand for PVD in the market.
- Due to the increasing market demand for eco-friendly coating processes, the demand for these processes is also increasing.
Global Physical Vapor Deposition Market: Growth Drivers
- PVD provides various industries with unique properties and capabilities, making it a widely used technology. Materials with PVD coatings can have improved tribological properties and reduce friction. Physical vapor deposition is gaining considerable traction due to the rapid growth of consumer electronics such as laptops, and smartphones.
- Solar power's popularity is increasing globally, which is creating a demand for PVD in the market. In addition to making solar panels corrosion-resistant, PVD coatings also make them more durable. In addition to manufacturing perovskite-crystalline silicon cells, PVD coatings are expected to be a significant demand in the near future.
- Increasing medical equipment and device demand, as well as microelectronics demand in various applications, are driving PVD equipment market growth.
- PVD coatings are beneficial to medical instruments for several reasons, including reducing friction, sterilization, increasing biocompatibility, increasing saline solution absorption, and enhancing wear resistance.
- Growing technologies and digitization are expected to grow demand for PVD in the market. Due to its low operating temperature, simple design, and environmentally friendly nature, PVD offers a viable alternative to traditional processes.
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Global Physical Vapor Deposition Market: Regional Landscape
- North America is expected to lead the PVD market. The increasing demand for PVD coatings in North America is attributed to the aerospace and defence sectors' need for better durability, friction reduction, and corrosion resistance. Implants and surgical instruments benefit from PVD coatings in the emerging medical industries, making them more biocompatible and durable in the market.
- PVD is expected to dominate the market in Europe. Automotive component manufacturers in Europe are applying PVD coatings to improve the wear resistance and aesthetics of their products. Wind turbine blades and solar panels are among the energy applications of PVD coatings. These factors are expected to grow demand for PVD in the European market.
- As a result of governments' cohesive policies and rising solar panel demand, Europe is expected to also experience strong market growth. PVD is anticipated to become increasingly popular in microelectronics applications in the near future. Furthermore, the PVD market growth is booming in this region due to the increasing popularity of durable products with metallic coatings.
Global Physical Vapor Deposition Market: Key Players
To maximize their market share, many companies expand geographically and update their product portfolios, according to TMR's analysis. Physical Vapor Deposition is an industry with high levels of competition. Strategic partnerships and strategic moves are helping companies become more competitive in the market.
Physical vapor deposition's key manufacturers are
- Platit AG
- Mustang Vacuum Systems
- Oerlikon Balzers
- Veeco Instruments Inc.
- Applied Materials, Inc.
- ULVAC Inc.
- Semicore Equipment, Inc.
- HEF USA
- Singulus Technologies AG
- IHI Corporation
- Silfex Inc. (Lam Research Corp.)
- Buhler AG.
Key Developments
- In September 2023, LOTUS unveiled the highly anticipated Emeya flagship model. The Tesla Model S and Porsche Taycan Turbo will be fighting head-to-head in this all-electric four-door sedan, formerly known as the Type 133. Lotus also uses environmentally friendly materials like PVD to apply metallic coatings to certain cabin surfaces.
- In September 2023, Plasma-Therm, an equipment manufacturer for plasma processing of semiconductors and compound semiconductors, announced the acquisition of Thin Film Equipment SrL (TFE). TFE (Milano, Italy) is a supplier of semiconductor sputtering equipment based in Binasco and is well known for providing high-purity materials for thin film applications as well as physical vapor deposition (PVD) process equipment.
Global Physical Vapor Deposition Market: Segmentation
By Category
- PVD Equipment
- PVD Services
- PVD Materials
By Application
- Microelectronics
- Data Storage
- Solar Products
- Medical Equipment
- Medical Equipment
- Cutting Tools
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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