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.
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