Physical Vapor Deposition Market to Reach US$ 18.9 Billion by 2022, Driven by Increasing Demand for Coating Solutions
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| Physical Vapor Deposition Market |
The global physical vapor deposition (PVD) market is estimated to be valued at US$ 18.9 billion in 2022 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.
Market Overview:
Physical vapor deposition (PVD) is a thin film coating technique used to enhance the surface properties of various materials. It offers advantages such as improved hardness, wear resistance, and thermal stability, making it suitable for applications in industries such as electronics, automotive, aerospace, and healthcare. The increasing need for advanced coating solutions to enhance the performance and durability of materials is driving the demand for PVD technologies in the market.
Market Key Trends:
One key trend in the physical vapor deposition market is the growing adoption of PVD techniques in the semiconductor industry. With the rising demand for miniaturized electronic devices and integrated circuits, there is a need for precise and uniform thin films on semiconductor substrates. PVD technologies offer high deposition rates, excellent film uniformity, and control over film compositions, making them ideal for semiconductor applications. Additionally, the increasing investments in R&D activities for the development of innovative PVD materials and processes are further fueling the growth of the market.
Segment Analysis:
The physical vapor deposition market can be segmented based on application, coating material, and end-use industry. In terms of application, the market can be divided into microelectronics, storage, solar products, medical equipment, and others. Among these, the microelectronics segment dominates the market. This is attributed to the increasing demand for microelectronic devices, such as smartphones, tablets, and laptops. The growing adoption of advanced technologies, such as Internet of Things (IoT) and artificial intelligence (AI), further drives the demand for microelectronics. Moreover, the increasing usage of microelectronics in various industries, including automotive, aerospace, and healthcare, contributes to the dominance of this segment.
Key Takeaways:
The global Physical Vapor Deposition Market Segmentation is expected to witness high growth, exhibiting a CAGR of 5.59% over the forecast period of 2022-2030. This growth can be attributed to several factors. Firstly, the increasing demand for microelectronics, driven by the growing adoption of smartphones, tablets, and other electronic devices, is expected to propel the market. Additionally, the rising usage of advanced technologies, such as IoT and AI, further boosts the demand for microelectronics and, in turn, the physical vapor deposition market.
Regionally, Asia Pacific is projected to be the fastest-growing and dominating region in the physical vapor deposition market. This can be attributed to the presence of major electronics manufacturers, such as Samsung, LG, and Huawei, in countries like China, South Korea, and Japan. The growing automotive and aerospace industries in the region also contribute to the market growth. Furthermore, government initiatives to promote the adoption of renewable energy sources, such as solar power, drive the demand for physical vapor deposition in the solar products segment.
Key players operating in the 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 focusing on technological advancements, strategic collaborations, and mergers and acquisitions to strengthen their market position and cater to the increasing demand from various end-use industries.
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