Physical Vapor Deposition (PVD) Market Size Worth USD 46.15 Billion in 2032 | Emergen Research

The global Physical Vapor Deposition (PVD) market size was USD 22.95 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.3% during the forecast period. The global market for Physical Vapor Deposition (PVD) is witnessing substantial growth, driven by increasing adoption of digitization solutions and rising demand for surgical and biomedical devices, along with Low-E glass in construction and automotive industries. A recent market analysis highlights the pivotal role of PVD technology in various high-tech industries and specialized applications such as electronics, semiconductors, aerospace, solar energy, medicine, and more.

Key Market Drivers: The surge in demand for digitization solutions, coupled with the rising popularity of adopting new business opportunities, is identified as a key driver propelling market revenue growth. Additionally, the increasing use of semiconductors in electronics applications, particularly in automotive industries, contributes significantly to the rising demand for microelectronics.

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Market Restraints: Despite the promising growth trajectory, the market faces challenges such as high manufacturing costs, fluctuating raw material prices, and high capital investments. The complex and resource-intensive manufacturing process of PVD coatings leads to higher operational expenses, potentially limiting market competitiveness.

Market Segment Insights:

• Type Dynamics: The equipment segment dominates the global PVD market, driven by the rising demand for film deposition devices used for thermal evaporation, sputtering, and arc vapor deposition.

• Product Insights: Sputter deposition emerges as a dominant segment, showcasing a steadily fast growth rate, particularly in the semiconductor industry due to its capability to maintain the composition of target material.

• Application Insights: Microelectronics lead in market share, attributed to the rising adoption of PVD in the consumer electronics industry for providing uniform coatings and enhancing product quality.

• End-Use Insights: The medical segment displays moderate growth, fueled by the rising demand for surgical and biomedical devices in the healthcare sector, leveraging PVD's anti-corrosion and high wear-tear properties.
Recent Developments:

• In June 2023, Intlvac Thin Film initiated the sale of thin film solutions to the fuel cell research and manufacturing sectors, potentially reducing the utilization of costly noble metals in fuel cell construction.

• Oerlikon Balzers entered into a ten-year agreement with ITP Aero in June 2023 to employ high-temperature wear-resistant coating for components of Pratt & Whitney Canada PW800 turbofan engine, enhancing efficiency and performance.

• Oerlikon Balzers set a new industry standard with BALIQ TISINOS PRO in July 2023, offering improved wear resistance for machining hardened steel.

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Future Outlook: The global PVD market is poised for continued growth, driven by technological advancements and expanding applications across various industries. As manufacturers focus on innovation and efficiency, the market is expected to witness further advancements in PVD technology, catering to the evolving needs of industries worldwide.

Physical Vapor Deposition Top Companies and Competitive Landscape

The global Physical Vapor Deposition market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Physical Vapor Deposition (PVD) solutions in the market.

• Oerlikon Group
• Angstrom Engineering Inc.
• Kurt J. Lesker Company
• Voestalphine AG
• NISSON Electric Co., Ltd.
• IHI Corporation
• HEF
• Kobe Steel Ltd.
• Lafer
• Inorcoat
• Kolzer SRL
• Advanced Energy
• Impact Coatings AB
• Denton Vacuum
• Intevac Inc.
• Cha Industries Inc.
• Veeco Instruments
• Platit AG

Physical Vapor Deposition (PVD) Latest Industry News

• On 1 February, 2023, Veeco Instruments Inc. announced that it has acquired Epiluvac AB, a privately held manufacturer of Chemical Vapor Deposition (CVD) epitaxy systems that enable advanced Silicon Carbide (SiC) applications in the EV market. Epiluvac, headquartered in Sweden, was founded in 2013 by an experienced SiC team. Epiluvac's technology platform, combined with Veeco's global market reach, creates a significant long-term growth driver for Veeco.

• On 21 March, 2021, Intevac, Inc., a leading provider of thin-film processing systems, announced an order for INTEVAC MATRIX PVD for threading applications in the advanced semiconductor packaging market. This order follows the successful completion of a deployment evaluation program with a leading Outsourced Assembly and Test (OSAT) company in March 2021, and the system will be reserved accounted for, and calculated as a business metric for the first quarter of 2021.

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Physical Vapor Deposition Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Physical Vapor Deposition (PVD) market on the basis of type, product, application, end-use, and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Materials
o Services
o Equipment

• Product Outlook (Revenue, USD Billion; 2019-2032)
o Thermal Evaporation
o Sputter Deposition
o Arc Vapor Deposition

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Microelectronics
o Storage
o Solar
o Medical equipment
o Cutting Tools

• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Electronics
o Military, Defense, and Aerospace
o Automotive
o Energy
o Medical
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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