Physical Vapor Deposition Market Growth & Trends
The global physical vapor deposition market size is expected to reach USD 28.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2021 to 2028. The sustained growth for PVD in microelectronics and medical equipment is expected to boost the demand for PVD (Physical Vapor Deposition) over the forecast period.
The COVID-19 pandemic resulted in a severe disruption of the supply chain leading to raw material unavailability along with labor shortage for the electronics industry. The halting of ongoing production of electronics decreased the demand for thin-film coating using the PVD during the pandemic in 2020.
The sputtering technology in PVD has a number of advantages over other technologies which include higher packing densities and better adhesion. Moreover, sputtering can be carried out over a greater number of metals such as alloys and mixtures which is expected to increase the demand for sputtering systems over the forecast period.
The PVD coating is beginning to gain more traction, especially from the automobile industry. With low metal layer thickness, companies have been able to achieve full recyclability for automobile components. Moreover, PVD coatings do not emit Volatile Organic Compounds which is expected to increase the demand for PVD over the forecast period.
Physical Vapor Deposition Market Report Highlights
- The PVD equipment segment is anticipated to witness a CAGR of 5.5% from 2021 to 2028, in terms of revenue, on account of their increasing adoption in the microchip fabrication
- The PVD demand in the data storage application accounted for 23.4% of the overall revenue owing to the increase in demand for PVD services in the coating of storage devices used in notebooks, computers, laptops, mobiles, and tablets
- The PVD demand in Asia Pacific is estimated to witness a CAGR of 6.5% over the forecast period, on account of the rapid growth of the electronics industry coupled with the growing adoption of solar power
- Germany accounted for 24.7% of the European market revenue, attributed to the increase in manufacturing of solar products that require PVD coating
- Key players in the market are mainly focusing on product development with an aim to reduce system costs and develop energy-efficient and efficient PVD systems coupled with strategic alliances and acquisitions of service providers