Physical Vapor Deposition Market to Be Worth US$33,335.2 Mn by 2025 - Transparency Market Research

Transparency Market Research

Global Market for Physical Vapor Deposition to Gain Traction Due to Growing Demand for Microelectronics and Medical Equipment

​​Physical vapor deposition (PVD) refers to a technology used for producing thin films. PVD coating finds usage in a vast variety of optical, mechanical, chemical, and electronic items. The advantages of PVD coatings include their property of being corrosion resistant, their environment-friendly nature, and the fact that these coatings are harder as compared to other coatings that can be applied by means of electroplating. These advantages of physical vapor deposition make the process valuable for several industries such as aerospace, automotive, medical, dyes and moulds, cutting tools, optics, watches, metals, and food packaging.

Based on a thorough analysis of ongoing market trends, Transparency Market Research indicates in one of its recent reports that the global market for physical vapor deposition will exhibit an 8.3% CAGR from 2017 to 2025, rising from a revenue opportunity of US$16,410.9 mn in 2016 to US$33,335.2 mn by 2025.

Rising Demand in Microelectronics and Medical Equipment to Present Vast Growth Opportunities

The global physical vapor deposition market will be driven by the extensive use of physical vapor deposition in microelectronics and medical equipment in the near future. Much of the global demand for physical vapor deposition comes from these two industries and thus, their performance plays a key role in deciding the growth prospects of the global PVD market. Analysts suggest that the medical equipment and microelectronics industries will expand at a promising pace across the globe in the next few years, thus leading to promising growth opportunities to the global PVD market as well.

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The market is further expected to be boosted by the huge demand for physical vapor deposition from various application areas such as defense, computers, and medical. Other drivers that are likely to contribute to the success of the global physical vapor deposition market are the advancements in technology in the microelectronics field, leading to a greater demand for physical vapor deposition.

However, patent protection laws on PVD technologies are likely to restrict the expansion of new market entrants, thus limiting the market by reducing competition. Another restricting factor is the limited or reduced R&D efforts carried out in the field of PVD in the past years.

Asia Pacific to Emerge as Most Promising Regional Market

From the geographical perspective, the global PVD market gained the dominant 40% of its total valuation in 2016 from the market in Asia Pacific. High demand across countries such as India, Japan, and China is one of the key factor making Asia Pacific a regional leader in the global market. Expanding at a robust CAGR of 8.6% from 2017 to 2025, the market for physical vapor deposition in Asia Pacific is expected to near double in valuation by the end of 2025, continuing its top spot in the global market.

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The market in North America accounted for the second-largest share of the global PVD market in 2016, owing chiefly to the presence of a large pool of end-use companies in the region. Although regions such as Africa, the Middle East, and Latin America collectively accounted for a nominal share in the global market, they have promising growth opportunities in the next few years owing to factors such as the rising demand for PVD in the production of low-e and architectural glass.

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Source: Transparency Market Research