Global Physical Vapor Deposition (PVD) Market Estimated to Reach US$ 21,898.8 Mn by 2024: TMR

ALBANY, N.Y. - Oct. 14, 2016 - PRLog -- Transparency Market Research has published a new report titled "Physical Vapor Deposition (PVD Equipment, PVD Materials, and PVD Services) Market for Microelectronics, Storage, Solar, Medical Equipment, Cutting Tools, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024." According to the report, the global PVD market was valued at US$ 13,600.0 Mn in 2015 and is anticipated to reach US$ 21,898.8 Mn by 2024, expanding at a CAGR of 5.5% between 2016 and 2024.

PVD is a vacuum coating process, wherein various materials are coated on substrates to form a thin protective film. This coating exhibits higher strength and durability, and corrosion-resistant properties than the conventional coating process. The PVD market can be segmented into PVD equipment, PVD materials, and PVD services. PVD technology is employed in various industries such as microelectronics, data storage devices, medical equipment, solar panels, and construction industry.

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High demand for PVD coating to reduce heat losses through architectural glass is a primary factor driving the PVD market. PVD coated low–E glass is gaining traction in Europe and Middle East & Africa, especially in GCC countries. PVD coatings are environmentally friendly compared to other coating technologies such as electroplating. Electroplating process generates toxic wastes. This indirectly increases costs for waste management. Such attributes are expected to drive the demand PVD coating technologies. The solar application segment of the PVD market is anticipated to expand significantly due to the rising demand for high-efficient solar panels. However, PVD is a patent protected technology that entails high capital investment. This is estimated to hamper the PVD market.

PVD equipment, PVD materials, and PVD services segments are projected to expand significantly in the next few years owing to the operational benefits of PVD technology over other surface coating methods. PVD equipment was the major segment with more than 55% share in 2015. The PVD services segment is likely to expand at a rapid pace during the forecast period.

Based on application, the global PVD market has been segmented into microelectronics, storage, solar, medical equipment, cutting tools, architectural glass, and others. Microelectronics was the key application segment of the global PVD market in 2015. Led by rising demand for precision technology, demand for microelectronics is anticipated to increase in the next few years. Among applications, microelectronics and solar segments are estimated to account for more than 56% in 2015.

Asia Pacific and North America dominated the global PVD market, collectively constituting more than 60% share in 2015. Large number of PVD service providers are emerging in Asia Pacific due to the significant increase in demand for PVD and attractive profit margins. Various PVD equipment and service providers operate in developed regions such as North America and Europe. The PVD market in Middle East & Africa is likely to expand at a sluggish pace during the forecast.

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Key players operating in the PVD market are Oerlikon Balzers (Oerlikon Group), IHI Corporation, Silfex Inc. (Lam Research Corp.), Singulus Technologies AG, Applied Materials, Inc., ULVAC Inc., Veeco Instruments Inc., Buhler AG, Semicore Equipment, Inc., Platit AG, and AJA International, Inc.