Overview and Scope
Physical vapor deposition refers to several different vacuum deposition techniques that can be used to create thin films and coatings. Physical vapor deposition is described as a method in which a material transforms from a condensed to a vapor phase before returning to a thin-film condensed phase.
Sizing and Forecast
The physical vapor deposition market size has grown rapidly in recent years. It will grow from <b>$21.48 billion in 2023 to $23.64 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. </b> 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 <b>$34.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. </b> 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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Segmentation & Regional Insights
The physical vapor deposition market covered in this report is segmented –
1) By Type: PVD Equipment, PVD Materials, PVD Services
2) By Process: Thermal Evaporation, Sputter Deposition
3) By Application: Microelectronics, Data Storage, Solar products, Cutting Tools, Medical Equipment, Other Applications
<b>Asia-Pacific</b> was the largest region in the physical vapor deposition market in 2023. <b>North America</b> was the fastest-growing region in the physical vapor deposition market share. The regions covered in the physical vapor deposition market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the physical vapor deposition market include <b> 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. </b>
The physical vapor deposition market report table of contents includes:
1. Executive Summary
2. Physical Vapor Deposition Market Characteristics
3. Physical Vapor Deposition Market Trends And Strategies
4. Physical Vapor Deposition Market – Macro Economic Scenario
5. Global Physical Vapor Deposition Market Size and Growth
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26. South America Physical Vapor Deposition Market
27. Brazil Physical Vapor Deposition Market
28. Middle East Physical Vapor Deposition Market
29. Africa Physical Vapor Deposition Market
30. Physical Vapor Deposition Market Competitive Landscape And Company Profiles
Top Major Players:
- Applied Materials Inc.,
- IHI Hauzer B.V.
- Oerlikon Balzers Coating AG
- Advanced Energy Industries Inc
- Platit AG
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