The global Physical Vapor Deposition (PVD) market is estimated to be valued at US$ 18.9 billion in 2021 and is expected to exhibit a CAGR of 5.59% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Physical Vapor Deposition is a widely used process in which a thin film of a material is deposited on a surface to improve its properties and performance. PVD coatings provide excellent wear resistance, hardness, and enhanced adhesion, making them suitable for various applications such as in automotive, aerospace, electronics, and medical industries. The demand for PVD coatings is driven by the need for durable and high-performance coatings to protect the surfaces from wear, corrosion, and other environmental factors.
B) Market Key Trends:
One key trend in the Physical Vapor Deposition market is the increasing adoption of PVD coatings in the automotive industry. With the growing demand for lightweight vehicles and the need for improved fuel efficiency, PVD coatings offer significant advantages. These coatings provide enhanced protection against scratches, wear, and corrosion on exterior surfaces such as body panels, wheels, and trim components. Additionally, PVD coatings can also be applied to engine components to reduce friction and improve performance.
For example, some automotive manufacturers are using PVD-coated brake calipers, which not only provide aesthetic appeal but also offer superior corrosion resistance and durability. PVD coatings also have the potential to enhance the performance of electric vehicle batteries by improving conductivity and reducing impedance.
C) PEST Analysis:
- Political: The political stability of a country influences the growth of the PVD market. Stable governments and favorable policies supporting technological advancements can create a conducive environment for market growth.
- Economic: The economic conditions of a country impact the market growth. Factors such as GDP growth, disposable income, and industrial development contribute to the demand for PVD coatings.
- Social: Changing consumer preferences for enhanced aesthetics, durability, and sustainability drive the demand for PVD coatings. Moreover, the increasing focus on environmental sustainability is leading to the development of eco-friendly PVD coatings.
- Technological: Advancements in PVD technology, such as the introduction of new coating materials and improved deposition techniques, drive market growth. The development of advanced coating equipment and automation systems also positively impacts the market.
D) Key Takeaways:
The Global Physical Vapor Deposition Market Demand is expected to witness high growth, exhibiting a CAGR of 5.59% over the forecast period. This growth is attributed to the increasing demand for high-performance coatings in various industries. The market size is expected to reach (incorporate given market value for 2022) by 2022.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the market. The region is witnessing significant industrial development and infrastructure growth, which drives the demand for PVD coatings. Additionally, the presence of major automotive and electronics manufacturers in countries like China, Japan, and South Korea further boosts the demand.
Key players operating in the global Physical Vapor Deposition market include Oerlikon Balzers (Oerlikon Group), IHI Corporation, Silfex Inc., Lam Research Corp, Singulus Technologies AG, Applied Materials, Inc., ULVAC Inc., Veeco Instruments Inc., Buhler AG, Semicore Equipment, Inc., and Platit AG. These companies are focused on expanding their product portfolio, investing in R&D activities, and strategic collaborations to gain a competitive edge in the market.
In conclusion, the global Physical Vapor Deposition market is poised for significant growth due to increasing demand for high-performance coatings for various applications. The adoption of PVD coatings in the automotive industry and advancements in PVD technology are key trends driving market growth. With Asia Pacific emerging as the fastest-growing region, key players are actively expanding their presence in this market to capitalize on the opportunities presented by this growing industry.
Global Physical Vapor Deposition Market: SnapshotPhysical vapor deposition (PVD) is a vacuum coating process in which the surfaces of various products such as microelectronics, cutting tools, storage devices, medical equipment, solar products, etc.
Manufacturers are increasingly giving preference to PVD coating over conventional coating techniques due to the environment-friendly properties of the PVD process along with other operational benefits.
Furthermore, companies are adopting innovative technologies in order to differentiate their products in an increasingly competitive market scenario.The global physical vapor deposition market has been boosted by a number of drivers such as the rising demand from the electronics industry, which has adopted physical vapor deposition on a large scale.
The global physical vapor deposition market is anticipated to grow at a fast CAGR of more than 8% during the forecast period.According to Transparency Market Research, the global physical vapor deposition market was valued at US$ 19,248.2 Mn in 2018 and is projected to reach US$ 40,110.4 Mn by 2027 at a CAGR of 8.5% from 2019 to 2027.Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=1202PVD Equipment Likely to Dominate Global Physical Vapor Deposition MarketThe global physical vapor deposition market can be segmented based on category, applications, and region.
PVD equipment mainly comprises vacuum, heating, condensation, and coating equipment.
The market revenue share of PVD equipment stood at above 50% in 2018 and is expected to experience significant growth in the coming years.
