Physical Vapor Deposition Market Share, Trends, Analysis and Forecasts, 2020 - 2030

Physical Vapor Deposition is a vital component of material processing industry. It is primarily used for fabrication or deposition of thin film and surface coating. During vapor deposition process, the material to be deposited goes from condensed phase to vapor phase and back to condensed phase in the form of thin film. The physical vapor deposition process requires vacuum and does not require a process medium, thereby making the process environment friendly. This has fuelled the adoption of physical vapor deposition technology across multiple industries for deposition of thin film or protective coatings. The demand for physical vapor deposition is primarily driven by increased demand for affordable and sustainable surface coating technology.

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The Global Physical Vapour Deposition Market revenue stood at US$ 18.3 billion in 2019. The demand for physical vapor deposition is anticipated to witness prominent growth during the forecast period owing to expansion of electronic, healthcare and energy & utility industry. The physical vapor deposition technique is used for deposition of protective coating on healthcare equipment, cutting tools, surgical tools, solar products, microelectronics and storage devices. This has contributed towards increased penetration of physical vapor deposition technology across wide industry verticals. With expansion of electronic device manufacturing, and healthcare device manufacturing, the demand for physical vapor deposition is anticipated to witness prominent growth during the forecast period.

Strong demand from automotive, and semiconductor & electronics industries to drive the growth of PVD equipment in coming years
The global physical vapor deposition (PVD) market is segmented on the basis of components, applications, and geography. Based on component, the global physical vapor deposition market is segmented into PVD equipment, PVD material, and PVD services. The physical vapor deposition equipment contributed the largest revenue share to the global market in 2019 owing to strong demand from automotive, semiconductor & electronics and healthcare industries. With increasing demand for storage devices and microelectronics, the physical vapor deposition equipment is anticipated to witness prominent growth during the forecast period. The physical vapor deposition services are anticipated to grow significantly during the forecast period.

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Cutting tools and medical equipment segments to drive the growth of global physical vapor deposition market

Based on applications, the global physical vapor deposition market is segmented into microelectronics, data storage, solar products, cutting tools, medical equipment, and others. The applications of physical vapor deposition in cutting tools contributed a prominent share to the global market in 2019 and is anticipated to grow significantly during the forecast period. The medical equipment segment is anticipated to be the fastest growing segment during the forecast period owing to increasing adoption of vapor deposition and rising demand for surgical equipment and implantable devices.

Based on geography, the global physical vapor deposition market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific contributed the largest share to the global physical vapor deposition market in 2019 owing to strong demand from semiconductor & electronic industry, followed by healthcare equipment manufacturing. Expansion of manufacturing of healthcare equipment, microelectronics and storage devices is anticipated to bolster the growth of Asia Pacific physical vapor deposition market during forecast period. North America contributed a prominent share to the global market in 2019 and is anticipated to witness steady growth during the forecast period owing to increasing investment in microelectronics and healthcare equipment manufacturing.

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This release was published on openPR.