Physical Vapor Deposition Market estimated at US$ 18.9 Bn in 2021 - Coherent Market Insights

Global Physical Vapor Deposition Market is estimated to be valued at US$ 18.9 Billion in 2021, according to the Global Physical Vapor Deposition Market Report, by Industry (PVD Equipment, PVD Materials, PVD Services), by Application (Microelectronics, Storage, Solar, Medical Equipment, Cutting Tools, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa), published by Coherent Market Insights.  

Global Physical Vapor Deposition market was valued at US$ 18.9 Billion in 2021 and is expected to register a CAGR of 5.59% over the forecast period (2022–2030) to reach US$ 31.1 Billion by 2030. Physical vapor deposition (PVD) is a coating process used to produce coatings of pure metals, ceramics, and metallic alloys with thickness in the range of 1 to 10µm. This process involves the deposition of atoms, molecules, and ions of coating spices to the substrate. Thermal evaporation, sputtering, and ion plating are the three major types of physical vapor deposition. Physical vapor a deposition is characterized by a process in which the product transferred from a condensed phase to the vapor phase and then back to the condensed phase of a thin film. This process is widely adopted in the production of a product that requires thin films for mechanical, chemical, and electronic functions. Microelectronics, architectural glass, solar, cutting tools, medical equipment, and data devices storage is one of the major application areas of physical vapor deposition.

Owing to the production disruption in key end-use industries, the demand for all categories went down significantly during COVID-19 pandemic. As the PVD industry does not fall under essential services, it experienced a negative impact on year on year growth rate due to decreased demand from key applications such as solar components, electronics, cutting tools and others.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/physical-vapor-deposition-market-490

Browse 50 market data tables* and 40 figures* on "Global Physical Vapor Deposition Market” - Forecast to 2030.

Key Trends and Analysis of the Global Physical Vapor Deposition Market:

• Increasing focus of manufacturers on expanding market presence and to cater to rising demand for PVD technology is estimated to propel the market growth. Rising trend of adopting acquisition and merger by major players in the market is resulting in industry consolidation and this is expected to augment market growth. For instance, in August 2022, Lam Research Corporation, a supplier of wafer fabrication, announced that its Board of Directors has approved a $0.225, or 15%, increase in its quarterly dividend, from $1.50 to $1.725 per share of common stock.

Key Takeaways of the Global Physical Vapor Deposition Market:

• Large-scale solar projects, increasing use of PVD coatings for automotive engine parts, and increased healthcare spending leading to medical equipment market growth are some of the factors responsible for market growth in the region.
• The U.S. government’s push towards domestic manufacturing coupled with the recent USMCA (United States Mexico Canada Agreement) is expected to increase the demand for PVD coating in North America mainly in microelectronics and medical equipment applications. Moreover, increased use of physical vapor deposition coating in the automotive industry in Mexico is likely to further boost the market growth in the region.
• New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global physical vapor deposition market. Physical vapor deposition is being used more frequently in the production of low-e glass for the construction and automotive industries, which is expected to drive market growth. PVD materials for Low-E glass coating include aluminum and aluminum alloys, silver, copper and its alloys, and chromium. For instance, in June 2022, Lam Research Corporation, among the first companies in the semiconductor industry to proactively set a net zero emissions goal.