Global Physical Vapor Deposition (PVD) Market Expected to Reach USD 46.15 Billion by 2032 | Emergen Research

Increasing adoption of digitization solutions and rising demand for surgical and biomedical devices and Low-E glass in construction and automotive industries

VANCOUVER, BRITISH COLUMBIA, CANADA, June 11, 2024 /EINPresswire.com/ -- The global Physical Vapor Deposition (PVD) market¹ size was USD 22.95 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.3% during the forecast period. The Physical Vapor Deposition (PVD) market is experiencing robust growth driven by increased demand across various high-tech and industrial sectors, including the medical, automotive, and construction industries. PVD, a process that involves the vaporization of material from a solid or liquid state and its subsequent deposition as a thin film, is integral in producing high-quality, durable coatings essential for many modern applications.

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Market Growth Drivers

Key factors propelling the PVD market include the rising demand for surgical and biomedical devices and the expanding use of Low-E glass in the construction and automotive sectors. Additionally, the surge in digitization and the increasing use of semiconductors in electronics, particularly within the automotive industry, have significantly contributed to market revenue growth. PVD coatings are celebrated for their uniformity, adhesion, and purity, making them indispensable in semiconductor manufacturing, which in turn supports the electronics industry's expansion.

Innovative Applications and Technological Advancements

In a noteworthy development, Canadian firm Intlvac Thin Film announced in June 2023 that it is supplying thin film solutions to the fuel cell sector. Their advanced PVD and Plasma-Enhanced Chemical Vapor Deposition (PECVD) technologies promise to reduce the need for expensive and scarce noble metals in fuel cell production by approximately 90%.

Market Challenges

Despite its promising growth, the PVD market faces challenges, including high manufacturing costs and significant capital investment requirements. The intricate and resource-intensive nature of PVD processes leads to higher operational expenses compared to traditional coating methods, potentially limiting its competitiveness. These costs can drive potential customers to seek more economical alternatives.

Segment Insights

The global PVD market is segmented by type into materials, equipment, and services. The equipment segment, which includes machines for thermal evaporation, sputtering, and arc vapor deposition, held the largest market share in 2022. The demand for these devices is rising due to their application in high-tech industries.

For instance, on June 21, 2023, Oerlikon Balzers entered a ten-year agreement with ITP Aero to use BALORA TECH PRO, a new high-temperature wear-resistant coating developed by Oerlikon, on components of the Pratt & Whitney Canada PW800 turbofan engine. This agreement highlights the growing importance of advanced PVD coatings in enhancing the durability and performance of critical aerospace components.

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Product Insights

The PVD market is further segmented by product into thermal evaporation, sputter deposition, and arc vapor deposition. The sputter deposition segment is expected to grow rapidly due to its ability to produce films of high purity and uniformity, which are essential in semiconductor manufacturing.

Oerlikon Balzers set a new industry standard on July 4, 2023, with the introduction of BALIQ TISINOS PRO. This PVD coating significantly improves wear resistance and tool performance, especially when machining hardened steel, demonstrating the continuous innovation within the PVD sector.

Application Insights

In terms of application, the microelectronics segment holds a significant market share, driven by the need for stable and uniform coatings in consumer electronics. PVD's resistance to corrosion and wear makes it ideal for protecting delicate electronic components, thereby extending their lifespan and improving performance.

End-Use Insights

The medical sector is also expected to see substantial growth in the PVD market. The demand for surgical and biomedical devices is rising, and PVD's properties, such as anti-corrosion and high wear resistance, make it a preferred choice for coating medical tools and devices. These coatings enhance the durability and functionality of medical instruments, making them more reliable and efficient.

Physical Vapor Deposition Top Companies and Competitive Landscape

The global Physical Vapor Deposition market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Physical Vapor Deposition (PVD) solutions in the market.

Some of the major companies included in the global Physical Vapor Deposition (PVD) market report are:

Oerlikon Group

Angstrom Engineering Inc.

Kurt J. Lesker Company

Voestalphine AG

NISSON Electric Co., Ltd.

IHI Corporation

HEF

Kobe Steel Ltd.

Lafer

Inorcoat

Kolzer SRL

Advanced Energy

Impact Coatings AB

Denton Vacuum

Intevac Inc.

Cha Industries Inc.

Veeco Instruments

Platit AG

Physical Vapor Deposition (PVD) Latest Industry News

On 1 February, 2023, Veeco Instruments Inc. announced that it has acquired Epiluvac AB, a privately held manufacturer of Chemical Vapor Deposition (CVD) epitaxy systems that enable advanced Silicon Carbide (SiC) applications in the EV market. Epiluvac, headquartered in Sweden, was founded in 2013 by an experienced SiC team. Epiluvac's technology platform, combined with Veeco's global market reach, creates a significant long-term growth driver for Veeco.

On 21 March, 2021, Intevac, Inc., a leading provider of thin-film processing systems, announced an order for INTEVAC MATRIX PVD for threading applications in the advanced semiconductor packaging market. This order follows the successful completion of a deployment evaluation program with a leading Outsourced Assembly and Test (OSAT) company in March 2021, and the system will be reserved accounted for, and calculated as a business metric for the first quarter of 2021.

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Physical Vapor Deposition Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Physical Vapor Deposition (PVD) market on the basis of type, product, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Materials

Services

Equipment

Product Outlook (Revenue, USD Billion; 2019-2032)

Thermal Evaporation

Sputter Deposition

Arc Vapor Deposition

Application Outlook (Revenue, USD Billion; 2019-2032)

Microelectronics

Storage

Solar

Medical equipment

Cutting Tools

End-use Outlook (Revenue, USD Billion; 2019-2032)

Electronics

Military, Defense, and Aerospace

Automotive

Energy

Medical

Others

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