Insights of Physical Vapor Deposition Market in Global Industry Development and Forecast to 2025
Physical vapor deposition (PVD) is a thin film decomposition technique, which vaporizes solid metal in a vacuum environment. It is used as a pure metal or alloy coating on electrically conductive metals. In PVD, the material undergoes a three-step procedure that first includes condensation, followed by vaporization, and back to a condensed thin film stage. Evaporation and sputtering are also some of the well-known PVD procedures. PVD is used for producing mechanical, synthetic, optical, or electronic capacities in thin films.
Asia Pacific and the Middle East are expected to be the fastest growing regions in the physical vapor deposition market as the use of microelectronics in these regions is gaining traction.
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The PVD segment is expected to expand at a significant CAGR in terms of value. Technological advancement and product innovations are providing opportunities for players to focus on the physical vapor deposition market, which is further expected to create demand over the forecast period.
PVD helps in evaporation, vacuum, and sputtering frameworks to produce wear resistance and quality coatings, and used to improve performance in electroplating applications. Processes involved in PVD coatings are more environmentally friendly and reduce the toxicity of substance as compared to conventional coting procedures. PVD coatings help reduce friction, and are thus used for high performance moving parts in the aerospace and automotive industries. The growing aerospace and automotive industries are in turn, driving growth of the PVD market.
Rise in demand for PVD in solar energy products is thus anticipated to boost the overall market for PVD over the forecast period. Physical vapor deposition is used for coating solar cells in order to improve the performance of devices. Medical equipment, architectural glasses, and data storage are also among the major application segments for PVD. In 2013, physical vapor deposition market exhibited a CAGR of 55% and is further expected to expand over the forecast period.
Physical Vapor Deposition Market Outlook – Asia-Pacific leading the Market
The physical vapor deposition market of Asia Pacific is expected to increase at a higher growth rate due to increasing demand for battery storage and PVD in SSI solar powered PV industries. Countries such as India, China, and Japan are generating demand for PVD, with an increasing demand for sustainable energy resources, which increase the use of microelectronics that make use of PVD techniques. This has positioned the microelectronics as the largest segment in the market, which accounted for over 40% share in the global market, in 2016. In Europe, demand for metallic layer covering and products of longer life expectancy are expected to propel demand for the PVD, thus boosting market growth. Some constraints of the PVD coating technique include line-of-sight transfer and inadequate availability of skilled personal for some PVD products that work at vacuums and high temperatures. This is expected to hinder growth of the market. However, the benefits of PVD coatings such as increased rigidity and resistance to erosion than coatings connected by the electroplating procedure or processes, along with high temperature resistance and strength, and greater durability that enables protection of topcoats are expected to drive growth of the physical vapor decomposition market.
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On January 31, 2017, Evonik set up a new research laboratory in Istanbul, Turkey, which helped the company expand in the Middle East. Growth of Nano InvisiPrint system, anti-fingerprint solutions for electronic display were developed by Nanotechnologies (NBD) on February 7, 2017.
Other key participants in the physical vapor deposition market include AJA International Inc., Advanced Energy Industries Inc., Angstrom Engineering, Hauzer Techno Coating, Impact Coatings, Johnsen Ultravac, Richter Precision, Kurt J. Lesker Co, Platit AG, Sulzer Metplas, Oerlikon Balzers Hartec GmbH, and Tokyo Electron.
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