Physical Vapor Deposition (PVD) Market to Hit $43 Billion by 2032, Driven by Eco-Friendly Coating Demand & Medical Applications

The global physical vapor deposition market is expected to grow significantly, reaching US$ 43 Billion by 2032 at a 6% CAGR between 2022 and 2032. According to the report, the market was worth USD 24.2 Billion in 2022. Factors such as rising demand for eco-friendly coating processes and rising demand for medical equipment are expected to drive product demand in the coming years.

From 2015 to 2021, physical vapor deposition demand surged at a CAGR of 2.6%, closing at US$ 23 billion. Growth in end-user industries such as microelectronics and medical equipment has primarily increased the global PVD market in the past. Furthermore, operational advantages and eco-friendliness were expected to drive the PVD market. These materials are coated with corrosion-resistant electroplating to improve the surface finish.

Key Takeaways from the Market Study:

1. Global physical vapor deposition market to grow 1.7x from 2022 to 2032.
2. By category, PVD services are expected to gain major traction, registering a 6.3% value CAGR until 2032.
3. Physical vapor deposition for medical equipment is expected to experience high growth, documenting a 6% expansion rate.
4. Asia Pacific to be the most opportunistic market, accruing 46% revenue in 2022 and reaching US$ 10.3 billion by 2032.
5. Europe to be the 2nd most opportunistic market, expected to register a CAGR of 6%.

“Rising drilling, end-milling, grooving, and threading activities is accelerating demand for tough cutting edge tools. Market players are leveraging this opportunity through frictionless procurement of physical vapor deposition services and equipment,” says the Fact.MR Analyst.

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Leading Players Driving Innovation in the Physical Vapor Deposition Market:

Applied Materials, Inc.; Lam Research Corporation (Novellus Systems); Intevac, Inc.; Advanced Energy Industries, Inc.; Kurt J. Lesker Company; AJA International, Inc.; Angstrom Engineering, Inc.; CHA Industries, Inc.; Denton Vacuum LLC; PVD Products, Inc.

Competitive Landscape:

The market is made up of small, medium, and large businesses all vying for a stronghold. Companies are investing in research and development to create advanced physical vapor deposition solutions to meet the growing demand from a variety of industrial applications. Furthermore, other key players are pursuing organic and inorganic growth strategies that are expected to benefit market growth.

• Oerlikon announced the acquisition of D-Coat GmbH, a leading Erkelenz, Germany-based diamond coating technology provider, in January 2020. This is expected to broaden the company's surface treatment technology portfolio and give it a competitive advantage over its competitors.
• Dynavac announced a significant increase in capital investment, facility size, and workforce in February 2021. The company focuses on gaining a competitive advantage through expansion in both the thin film and space simulation markets. These investments will enable them to meet the demands of their customers.
• Hyundai Motor Company ordered an INLINECOATER system from Impact Coatings in October 2020. It will be used to coat metal bipolar plates for fuel cells. In 2019, both companies signed a EUR 945,000 joint development agreement (JDA) for the same.

Physical Vapor Deposition Market News:

1. Oerlikon acquired D-Coat GmbH, a top Erkelenz, Germany-based diamond coating technology company, in January 2020. This will be expected to expand the company's surface treatment technology portfolio and provide it with a competitive edge over others.
2. Dynavac made a substantial boost in capital investment, plant size, and employees in February 2021. The firm is interested in achieving a competitive edge by expanding in the thin film and space simulation industries. These investments will allow them to serve their customers' needs.
3. Hyundai Motor Company placed an order for an INLINECOATER system with Impact Coatings in October 2020. It will coat metal bipolar plates for fuel cells. In 2019, the two companies signed a EUR 945,000 joint development agreement (JDA) for the same.

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More Valuable Insights:

Fact.MR, in its new offering, presents an unbiased analysis of the global physical vapor deposition market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of organization size (SMEs and large enterprises), by vertical (retail, BFSI, healthcare, it & telecom, government, manufacturing, others) and by service (application portfolio assessment, cloud application migration, application re-platforming, application integration, UI modernization and post modernization) across five major regions (North America, Latin America, Asia Pacific, Europe and Middle East & Africa).

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