Global Physical Vapor Deposition (PVD) Market: Development of Cost-Effective Coating Products to Emerge as Opportunity, says TMR
The global physical vapor deposition (PVD) market is led by players such as Oerlikon Balzers (Oerlikon Group) and IHI Ionbond AG, accounting for a significant share of the market. A number of small and medium scale domestic players are concentrated in regions such as North America, Asia Pacific, and Europe. These include KDF Electronics, Vacuum Aurora Scientific Corp., AJA International, Inc., and Novellus Systems. Several large players are also operating in the North America PVD market, making it the leading regional segment. New entrants are faced with challenges owing to the patent protected nature of PVD technology, says Transparency Market Research in its new report.
According to the report, the global physical vapor deposition market will rise from US$13.60 bn in 2015 to US$21.89 bn by 2024. The market is expected to expand at a 5.5% CAGR over the period from 2016 to 2024. Of the three core segments of the market, the PVD equipment segment is expected to lead in the coming years. The segment accounted for 57% of the market in 2015. On the basis of geography, Asia Pacific will continue to remain the dominant regional segment in the coming years. As per TMR, Asia Pacific accounted for 40% of the market in 2015.
Use of PVD for Coating Semiconductors to Drive Demand
The rapid growth of the global physical vapor deposition market is owing to the progress made by the microelectronics segment of the PVD market. Technological advancements have led to a rise in the production of efficient and small-sized electronic products. Physical vapor deposition technology is used for coating of semiconductors and this is driving the market. Silver, copper, molybdenum, tungsten, and aluminum and aluminum alloy, are extensively used in the manufacturing of sputter target for semiconductor coating application.
PVD coatings have several advantages such as strength, durability, and corrosion resistance. In addition to this, PVD coatings offer benefits over CVD as they leave no residue. Also, the PVD process provides uniform and controllable deposits compared to large and uncontrollable deposits formed by electroplating. Environmental-friendly characteristics of PVD make it a preferred choice over its substitutes as it does not generate any toxic waste, and increase cost savings for manufacturers.
Innovative and Cost-efficient Techniques to Create New Opportunities in PVD Market
The factors challenging the growth of the PVD market include high investment costs and the fact that PVD is a patent-protected technology. However, the impact of this restraint will have negligible effect on countries in Asia Pacific such as India and China. Moreover, governments across the globe have introduced incentive programs such as tax benefits to encourage the use of renewable sources of energy. Solar power is an important renewable source of energy and PVD technology is gaining acceptance for coatings in solar applications, thus driving their demand. Players are developing more efficient and cost-effective coating products and processes to meet the demand for renewable energy. This in turn will create lucrative opportunities for the PVD market in the coming years.
This information is based on the findings of a report published by Transparency Market Research, titled “Physical Vapor Deposition Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global physical vapor deposition market is segmented as follows:
PVD Market Analysis
- PVD Equipment
- PVD Materials
- PVD Services
PVD Market: Application Analysis
- Medical Equipment
- Cutting Tools
PVD Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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