Physical Vapor Deposition is a process in which thin films are deposited onto a substrate in a vacuum chamber by condensing a vaporized form of the desired material onto the substrate. PVD has applications in semiconductor, data storage, electronics, solar and optics industries, due to its advantages such as high uniformity, purity, adhesion and density.
The global Physical Vapor Deposition Market is estimated to be valued at US$ 18.9 billion 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 key trends:
One of the key trends in the Physical Vapor Deposition market is the increasing demand for thin films coatings in various industries such as medical devices, cutting tools, data storage and solar panels. PVD coatings provide excellent wear and corrosion resistance while maintaining substrate properties and precise specifications. Semiconductor industry is witnessing widespread adoption of PVD processes like sputtering for deposition of conductor and insulator thin films for fabrication of integrated circuits and nanoelectronic devices. Emerging applications of IoT, AI and 5G will further drive adoption of PVD techniques in semiconductor manufacturing equipment segment.
SWOT Analysis
- Strength: Physical Vapor Deposition (PVD) has highly customized and flexible coating capabilities to meet diverse application requirements in various industries like electronics, data storage, cutting tools, decorative applications etc. It offers atomically smooth and precise coatings at nanoscale levels.
- Weakness: PVD process requires high vacuum and is relatively more expensive than alternative coating technologies like chemical vapor deposition. It has lower throughput and coating area compared to other technologies.
- Opportunity: Growing demand for wear and corrosion resistant coatings from automotive, aerospace and medical device industries presents significant growth opportunities. Rise in miniaturization of electronic components enlarges the scope of PVD in semiconductor industries.
- Threats: Competition from emerging coating technologies like atomic layer deposition which provides better thickness control at atomic scale. Volatility in raw material prices can negatively impact costs.
Key Takeaways
The global Physical Vapor Deposition market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand for wear and corrosion resistant coatings from automotive and aerospace industries.
North America dominated the global PVD market in 2023 with a share of over 30%, owing to strong presence of semiconductor manufacturing industries in the US. Asia Pacific is estimated to be the fastest growing market, driven by expansion of automotive, electronics and tooling industries in China and India.
The 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. These players are focusing on new product launches and collaborations to expand their global footprint.
*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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