The Physical Vapor Deposition (PVD) market is projected to grow at a rate of 5.9% in terms of value, from USD 20.57 Billion in 2020 to reach USD 32.40 Billion by 2028. Physical vapor deposition (PVD) is a combined set of processes (such as thermal evaporation and sputtering) deployed to deposit thin layers of material/nanoparticles. Several drivers, including the rising demand from the semiconductor industry, which has deployed physical vapor deposition equipment and materials on a large scale, have fueled the growth of the market.
The growing demand for microelectronics in various application areas like the automotive industry is playing a significant role in driving the market growth. PVD offers tremendously pure and durable coatings for various applications comprising microchip, long-lasting protective film, solar panel, optical lens, and different medical instruments. The worldwide increase in demand for consumer electronic goods such as IoT devices and portable devices like smartphones are also expected to fuel market growth.
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Top Players in the Global Physical Vapor Deposition (PVD) Market:
AJA International Inc., Applied Materials Inc., Advanced Energy Industries Inc., Angstrom Engineering Inc., Intevac Inc., CHA Industries, Denton Vacuum, Oerlikon Balzers, Impact Coatings AB, and Johnsen Ultravac.
Moreover, PVD coatings provide excellent decorative finishing that increases its application in several areas, boosting the market growth in the upcoming years. PVD coating cutting tools run faster, thereby reducing cycle time and increasing demand for cutting tools.
The COVID-19 pandemic is having a significant impact on the physical vapor deposition (PVD) industry. Demand for the product is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand from industries such as the electronics and architecture industries has fast-tracked the global market into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
The requirement of high capital investment is a major factor that may create hindrances in the market growth during the forecast period. The market is also restricted by strict regulations as regards to the prevalent PVD technologies. Strict legislation is creating barriers for new entrants, which, in turn, reduces the competition and hinders market growth.
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Market segmentation based on Type Outlook:
- PVD Equipment
- PVD Materials
- PVD Services
- Thermal Evaporation
- Sputter Deposition
- Data Storage
- Solar Products
- Architectural Glasses
- Cutting Tools
- Medical Equipment
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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