Nanocoating is the fastest growing segment fueling the growth of Physical Vapor Deposition Market

 

Physical vapor deposition refers to a variety of vacuum deposition methods used to produce thin films and coatings. The process involves heating a material until it evaporates or condenses into a vapor in high vacuum conditions, which then deposits onto a substrate surface. Some key advantages of PVD include high adherence levels, precise thickness control, and the ability to coat complex components. The growing demand for nanocoatings in industries like precision optics, semiconductor manufacturing and medical devices is driving growth of the physical vapor deposition market.

The global Physical Vapor Deposition Market is estimated to be valued at US$ 18.9 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends gaining traction in the physical vapor deposition market is the increasing adoption of magnetron sputtering type PVD. Magnetron sputtering utilizes magnets behind the target material to confine the plasma close to the target surface to increase the sputtering rate. This enhances the film deposition rate and allows for a broader range of coating materials. The technology has lower operating costs compared to other PVD types and better step coverage of deep holes or trenches. It is highly suited for thin film applications requiring barrier properties like oxidation and corrosion resistance. These advantages have made magnetron sputtering the most commonly used PVD process across industries worldwide.

Segment Analysis

The physical vapor deposition market is segmented into PVD equipment, PVD materials and PVD services. The PVD equipment segment dominated the market in 2020 and is expected to continue its dominance during the forecast period. This is due to the wide use of PVD equipment in various industries such as microelectronics, data storage, cutlery, and medical equipment. Within the PVD equipment segment, sputter deposition equipment holds the largest market share owing to its high deposition rate and ability to deposit thick films with excellent adhesion.

Key Takeaways

The global physical vapor deposition market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from the microelectronics industry for thin film coatings.

Regional analysis - Asia Pacific dominated the global market in 2020 and is expected to maintain its dominance during the forecast period. This is attributed to the presence of major microelectronics manufacturers in countries such as China, South Korea and Taiwan. North America is expected to grow at the fastest rate due to increasing demand for thin film coatings from the aerospace and medical device industries in the US and Canada.

Key players operating in the physical vapor deposition market include 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., and Platit AG. Among these, Applied Materials, Lam Research and Ulvac command major market share owing to their robust PVD product portfolio and widespread geographic presence.

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