The global physical vapor deposition market is estimated to be valued at US$ 21.07 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Physical Vapor Deposition (PVD) refers to various coating methods used to deposit thin films by condensation of a vaporized form of the film material onto various surfaces under vacuum. PVD coatings provide benefits such as low friction, wear resistance, corrosion resistance and hardness. These coatings find applications in cutting tools, medical equipment, data storage disks and architectural & household applications.
Market key trends:
One of the key trends in the physical vapor deposition market is the increasing use of PVD coatings in luxury watches. Leading luxury watch manufacturers are increasingly adopting PVD coatings on watch bezels, cases and straps to enhance durability, scratch resistance and appearance. PVD coatings help protect the surfaces from corrosion and reduce wear from daily handling. The application of PVD coatings allows watch manufacturers to differentiate their luxury timepieces and command premium pricing.
Market key trends (this is heading keep it unchanged):
One of the key trends in the physical vapor deposition market is the increasing demand for nanopatterning and miniaturization of devices. Physical vapor deposition techniques like ion beam assisted deposition allows for precise coating applications and ultrathin film deposition in the range of few nanometers. This provides uniform deposition which is critical for integration in electronic components and semiconductors that require critical dimensions at the nanoscale.
SWOT Analysis
Strength: Physical vapor deposition techniques like sputtering allows for high production rates, ability to deposit a wide range of thin film materials.
Weakness: Initial equipment costs for physical vapor deposition systems are high. Require high vacuum environments for deposition.
Opportunity: Growing demand for functional coatings, nanomaterials and thin films from industries like electronics, automotive, optical coatings provides significant opportunity.
Threats: Alternate deposition techniques like chemical vapor deposition gaining popularity in applications like microelectronics where void free deposition is critical. Stringent environmental regulations pertaining to use of hazardous source materials.
Key Takeaways
The Global Physical Vapor Deposition Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from microelectronics and semiconductor industries where deposition of thin uniform films is crucial.
Regional analysis: Asia Pacific dominates the global physical vapor deposition market and is expected to grow at the highest CAGR during the forecast period. This can be attributed to large production bases of electronics in countries like China, Taiwan and presence of key foundries. Countries like South Korea and Japan are also major contributors.
Key players operating in the physical vapor deposition market are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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