The global physical vapor deposition market size is expected to reach USD 27.02 billion by 2025, according to a new study by Grand View Research, Inc. It is projected to register a CAGR of 6.1% over the forecast period. Physical vapor deposition is a coating mechanism carried out in a vacuum, in the presence of high temperature. It is used for making the coated products more attractive and durable for industrial applications that require high-speed machining, tooling, and magnetic storage devices. Increasing usage of thin film coatings in microelectronics and solar products is expected to augment the demand.
Moreover, rising number of end-use industry participants is projected to drive the market. Technological advancements is another growth-driving factor for the global PVD market. Growing need for highly sophisticated surface-related properties, such as super plasticity, magnetic, optical, electronic, and catalytic properties, by advanced mono-structured coatings is also contributing to the growth of this market. Rising efficiency and environmental benefits offered by these coatings coupled with rapidly expanding manufacturing sector in developing markets of Asia Pacific are expected to augment their demand over the forecast period.
Further Key findings from the study suggest:
- The PVD market in microelectronics application segment was estimated at USD 6.37 billion in 2017
- These products are used for coating semiconductors and LEDs to provide the base material with aesthetic properties like heat resistance and rigid surface
- Middle East & Africa is expected to witness a substantial CAGR of 5.8% from 2018 to 2025
- Rapidly developing healthcare industry is expected to drive the Physical Vapor Deposition (PVD) market in this region
- Leading companies in the market are Advanced Energy Industries, Inc.; AJA International, Inc.; Veeco Instruments, Inc.; Angstrom Engineering, Inc.; and Applied Materials, Inc.