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Physical Vapor Deposition Market 2024 - By Share, Top Companies, Revenue Outlook And Growth Forecast By 2033
Physical Vapor Deposition Market
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According to The Business Research Company's, The physical vapor deposition market size has grown rapidly in recent years. It will grow from $21.48 billion in 2023 to $23.64 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to growth in semiconductor manufacturing, expansion of hard coatings and thin films, advancements in material science and nanotechnology, aerospace and automotive applications, development of wear-resistant coatings..
The physical vapor deposition market size is expected to see strong growth in the next few years. It will grow to $34.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to green and sustainable pvd processes, miniaturization and high-performance coatings, growth in renewable energy applications, expansion of mems and nems technologies, customized coatings for specific industries.. Major trends in the forecast period include pvd for advanced energy storage, biocompatible and bioactive pvd coatings, coatings for flexible and wearable electronics, regulatory standards for environmental impact, additive manufacturing and pvd synergy.
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Market Drivers and Trends:
The rise in demand for medical devices and equipment is projected to drive the growth of the physical vapor deposition (PVD) market in the coming years. Physical vapor deposition (PVD) is increasingly being used by medical device manufacturers to create extremely strong, thin coatings on stainless steel, titanium, ceramics, and other advanced products. PVD coating methods are used to increase corrosion resistance in medical device coatings, orthopaedic surgical instruments, and implants. For instance, according to the International Trade Administration (ITA), the USA continues to be the world's largest medical device sector, with a projected value of $208 billion by 2023. Therefore, the rise in demand for medical devices and equipment propels the growth of the physical vapor deposition market.
Major companies operating in the physical vapor deposition market are innovating products with excellent thermal stability. Excellent thermal stability refers to the ability of a material or component to maintain its structural integrity and performance characteristics over a wide range of temperatures without significant degradation. For instance, in September 2022, Walter AG, a Germany-based machine industry company, launched Tiger·tec Gold (physical vapor deposition) PVD Grade WSP45G. Tiger·tec Gold (physical vapor deposition) PVD Grade WSP45G is available with an aluminum oxide (Al2O3) multilayer, which makes it highly crystallized and provides excellent thermal stability. It is suitable for various applications, including the milling of stainless steel, difficult-to-machine materials, and other high-performance materials.
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Major Key Players of the Market:
Applied Materials Inc., IHI Hauzer B.V., Oerlikon Balzers Coating AG, Advanced Energy Industries Inc., Platit AG, Semicore Equipment Inc., Angstrom Engineering Inc., Singulus Technologies AG, Veeco Instruments Inc., AJA International Inc., Buhler Alzenau GmbH, Intevac Inc., Impact Coatings AB, Mustang Vacuum Systems Inc., Silfex Inc., Denton Vacuum LLC, CHA Industries Inc., Plasma Quest Limited, Kurt J. Lesker Company, HEF USA LLC, Tokyo Electron Limited, Richter Precision Inc., Lam Research Corporation, KDF Electronics & Vacuum Services Inc., Impreglon Canada Ltd., Plasma-Therm LLC, ULVAC Inc., voestalpine AG, ASM International N.V., Techmetals Inc.
Physical Vapor Deposition Market 2024 Key Insights:
• The physical vapor deposition market size is expected to see strong growth in the next few years. It will grow to $34.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Growing Medical Device Demand Boosts Physical Vapor Deposition (PVD) Market
• Launch Of Pvd With Excellent Thermal Stability
• Asia-Pacific was the largest region in the physical vapor deposition market in 2023
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