What Has Been the Growth Trajectory for the Physical Vapor Deposition Market in Recent Years?
The physical vapor deposition market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of physical vapor deposition has significantly expanded. It's projected to increase from $23.49 billion in 2024 to $25.78 billion in 2025, generating a compound annual growth rate (CAGR) of 9.7%.
This historical period's growth is attributed to developments in semiconductor production, the enlargement of hard coatings and thin films, progress in material science and nanotechnology, applications in aerospace and automotive industries, and the creation of wear-resistant coatings.
How Does the Forecast Look for the Physical Vapor Deposition Market?
The physical vapor deposition market is expected to maintain its strong growth trajectory in upcoming years.
• The market for physical vapor deposition is projected to experience accelerated expansion in the forthcoming years. The market value is anticipated to reach $37.98 billion by 2029, advancing at a compound annual growth rate (CAGR) of 10.2%.
Factors contributing to growth during the forecast period include environmentally-friendly and efficient pvd processes, the miniaturization and heightened performance of coatings, increasing use in renewable energy applications, and the development of mems and nems technologies, as well as bespoke coatings tailored to specific sectors. Key trends projected for the forecast period encompass pvd for enhanced energy storage, biocompatible and bioactive pvd coatings, coatings suitable for flexible and wearable tech, environmental impact regulatory standards, and the symbiosis of additive manufacturing and pvd.
What Are The Leading Drivers Of Growth In The Physical Vapor Deposition Market?
The growth of the physical vapor deposition (PVD) market is likely to be fueled by the increasing demand for medical devices and equipment in the future. Medical device manufacturers are employing PVD more often to form highly resilient, thin coatings on materials such as stainless steel, titanium, ceramics, and other sophisticated products. PVD coating procedures are applied to enhance corrosion resistance in the coating of medical devices, orthopaedic surgical tools, and implants. For example, the International Trade Administration (ITA) reports that the USA remains the global leader in the medical device sector, predicting a value of $208 billion by 2023. Hence, the elevation in demand for medical devices and equipment boosts the growth of the physical vapor deposition market.
How Are The Segments Defined Within The Global Physical Vapor Deposition Market?
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
Subsegments:
1) By PVD Equipment: Evaporation Systems, Sputtering Systems, Cathodic Arc Deposition Systems, Ion Beam Deposition Systems
2) By PVD Materials: Metallic Materials, Ceramic Materials, Alloy Materials, Target Materials
3) By PVD Services: Coating Services, Maintenance and Repair Services, Consulting And Support Services
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How Are New Trends Expected To Influence The Growth Of The Physical Vapor Deposition Market?
Major businesses in the physical vapor deposition market are developing products with superior thermal stability. In this context, thermal stability can be defined as a material's or component's capacity to sustain its structural form and functionality over diverse temperatures without any notable deterioration. For example, Walter AG, a renowned machine industry firm in Germany, introduced Tiger·tec Gold (physical vapor deposition) PVD Grade WSP45G in September 2022. This product is equipped with an aluminum oxide (Al2O3) multilayer, ensuring high crystallization and excellent thermal stability. It is apt for an array of applications such as the milling of stainless steel, challenging materials to machine, and other high-performance materials.
Who Are the Key Players in the Physical Vapor Deposition Market?
Major companies operating in the physical vapor deposition market include:
• 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.
What Is The Most Dominant Region In The Physical Vapor Deposition Market?
Asia-Pacific was the largest region in the physical vapor deposition market in 2024. North America 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.
