New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Physical Vapor Deposition Market Size is Expected to Grow from USD 26.80 Billion in 2023 to USD 60.06 Billion by 2033, at a CAGR of 8.40% during the forecast period 2023-2033.
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Physical vapor deposition (PVD) is a thin-film coating and vacuum-based method that generates coatings of pure metals, metallic alloys, and ceramics with a 1-10µm thickness. Physical vapor deposition involves physically depositing atoms, ions, or molecules of a coating species into a substrate. The physical vapor deposition processes are evaporation, transit, reaction, and deposition. The process is environmentally benign and used to improve the surface properties of inorganic or organic substrates. Several significant drivers are driving the expansion and acceptance of physical vapor deposition (PVD) technology across industries. The electronics industry is seeing an increase in demand for PVD coatings, which are vital for semiconductor fabrication and improving the performance of electronic components. Furthermore, the automotive industry's emphasis on lightweight materials and increased economy fuels the usage of PVD coatings to improve the durability and aesthetics of automotive parts. However, the physical vapor deposition (PVD) business confronts many hurdles that could stymie its growth and widespread adoption. New entrants and smaller companies face considerable obstacles due to the high initial investment requirements for equipment and specialized expertise.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Physical Vapor Deposition Market Size, Share, and COVID-19 Impact Analysis, By Type (Sputter Deposition, Thermal Evaporation Deposition, Cathodic Arc Evaporation, Others), By Application (Data Storage, Microelectronics, Solar Products, Cutting Tools, Medical Equipment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The sputter deposition segment is predicted to hold the largest market share through the forecast period.
Based on the type, the physical vapor deposition market is classified into sputter deposition, thermal evaporation deposition, cathodic arc evaporation, and others. Among these, the sputter deposition segment is predicted to hold the largest market share through the forecast period. Sputter deposition dominates the physical vapor deposition industry due to its adaptability in a wide range of applications, including microelectronics, optics, and hard materials. This method includes blasting a target substance with high-energy particles to deposit a thin coating on a substrate. It provides a consistent coating on both simple and complicated structures, accommodating various materials such as metals, alloys, ceramics, and compounds.
The microelectronics segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the physical vapor deposition market is divided into data storage, microelectronics, solar products, cutting tools, medical equipment, and others. Among these, the microelectronics segment is anticipated to hold the highest market share during the projected timeframe. Microelectronics is an area of electronics that uses PVD techniques for device fabrication and seed layers for plating. These coatings are robust and homogeneous, with excellent temperature durability and abrasion resistance, improving microelectronics performance. Physical vapor deposition techniques like sputtering and evaporation are frequently used in microelectronics manufacturing processes such as device structuring, metallization, and packaging.
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North America is estimated to hold the largest share of the physical vapor deposition market over the forecast period.
North America is estimated to hold the largest share of the physical vapor deposition market over the forecast period. This might be attributable to the strong industrial sectors in countries like the United States and Canada, which rely heavily on PVD coating technologies. North America's automotive, electronics, and medical device industries are at the forefront of innovation, having been among the first to use PVD coatings. North America is also a pioneer in PVD equipment manufacturing, with numerous major companies established in the region.
Asia Pacific is predicted to have the highest CAGR growth in the physical vapor deposition market over the forecast period. Rising production capacity, burgeoning end-use sectors, and rising adoption rates are all driving strong demand for PVD coatings in Asia Pacific. China, Japan, South Korea, and Taiwan are industrial powerhouses with considerable manufacturing presence in electronics, automotive, and other industries that require PVD technologies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Physical Vapor Deposition Market are Advanced Energy Industries, Inc., Impact Coatings AB, The Kurt J Lesker Company, IHI Corporation, Voestalpine AG, ASM International N.V., Angestrim Engineering, Inc., Denton Vacuum, AJA International, Inc., Oerlikon Balzers, Dynavac and Other Key Vendors.
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Recent Developments
- In June 2023, Oerlikon Balzers signed a ten-year contract with ITP Aero to apply their new high-temperature wear-resistant coating BALORA TECH PRO to components of the Pratt & Whitney Canada PW800 turbofan engine used in the new Gulfstream G500/G600 and Dassault Falcon 6X business jets.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the physical vapor deposition market based on the below-mentioned segments:
Global Physical Vapor Deposition Market, By Type
- Sputter Deposition
- Thermal Evaporation Deposition
- Cathodic Arc Evaporation
- Others
Global Physical Vapor Deposition Market, By Application
- Data Storage
- Microelectronics
- Solar Products
- Cutting Tools
- Medical Equipment
- Others
Global Physical Vapor Deposition Market, By Regional Analysis
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
-
- US
- Canada
- Mexico
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