Region : Global | Format: PDF | Report ID: BRI102411 | SKU ID: 21639243
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The global PVD coating machines industry market size is expected to be worth USD 4.3 billion in 2023 & the market is projected to touch USD 6.66 billion in 2032, exhibiting a CAGR of 4.9% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the PVD coating machines industry experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden surge in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Physical vapor deposition is known as PVD. The term "PVD Coating" describes a number of thin film deposition methods in which a solid material is vaporized in a hoover environment and then coated on substrates as either a pure material or an alloy composition. Vacuum is used during PVD process execution. There are four steps in the procedure: Evaporation, transportation, reaction, and deposition are these. A wide range of industries use it, including optical applications like eyeglasses and self-cleaning tinted windows, photovoltaic applications for solar energy, device applications like computer chips, displays, and communications, and functional or decorative finishes like hard protective films with excellent gold, platinum, or chrome plating.
Various factors including the usage of PVD coating machines in automotive, electronics industry and the technological advancement of the same drives the market growth and at the same time, the high cost associated with it restrains the market.
The global PVD coating machines industry growth has been significantly harmed by the COVID-19 pandemic. In many industries, including electronics and architecture, the demand for PVD products has decreased as a result of supply chain disruptions brought on by lockdowns. There was a labour shortage, a shortage of raw materials, and trade restrictions as a result of the total and partial lockdown in the majority of the important consuming and supplying countries. However the ease of restrictions and government-imposed lockdown is expected to bring back the market growth into normal level.
"Environment-Friendly Method of Coating to Drive the Market"
Environment-friendly physical vapor deposition is used in the process. In contrast to other coating methods like electroplating or painting, coating produces no hazardous waste. It is extremely unlikely that toxic material will be released into the environment. Additionally, since the PVD-coated products last longer, there is less chance of producing solid waste, which indirectly contributes to environmental cleanliness.
The market is classified into evaporation category, sputtering category, and PVD coating machines based on type. The evaporation category segment will lead the PVD coating machines industry share throughout the forecast period.
The market is classified into aerospace, automotive, surgical/medical, dies and molds, cutting tools, and others on the basis of application. The aerospace segment will lead the PVD coating machines industry share throughout the forecast period.
"Technological Development of the Machines to Drive the Market "
Over the past few years, technological advancements in PVD coating machine products have increased. For instance, recently, large volumes of challenging-to-handle components like powders, ball bearings, and fasteners have been made possible by barrel PVD coating machines. By gently tumbling in a rotating component drum that has been specially designed, barrel coaters can deposit the metal and ally PVD coatings on a significant number of loose components.
"Increasing Usage of PVD Coatings in Electronics Industry to Drive the Market"
Due to their enhanced performance, PVD coatings are used for semiconductors, storage devices, and microelectronics to enhance corrosion resistance, hardness, and temperature resistance. In addition to producing a contemporary surface in a variety of colors, PVD coatings attract more electronics manufacturers. As the electronics industry invests more, PVD coatings are in higher demand. In addition to these factors, PVD coating machines are being driven by the demand for them.
"Relatively Higher Service Coast for Raw Materials to Restrain the PVD Coating Machines Industry"
Vacuum and relatively high temperatures are used in some processes. To achieve the desired results, extra care and a technically skilled workforce are needed. In order to channel heavy heat loads due to the high temperature, cooling water systems are provided. The overall service cost is significantly increased by such elements. As a result, this technology's adoption is sometimes constrained by its higher cost compared to its substitute technologies. The development of raw material suppliers and service providers is being constrained by the fluctuating prices of common materials used in these coatings, such as chromium, zirconium, aluminum, and titanium. Materials, electricity, common gases, and recurring maintenance are all included in the operating costs of physical vapor deposition coating. The material has the highest consumable cost. Therefore, the profit margin for small and medium-scale suppliers is directly impacted by changing raw material prices.
"Asia Pacific to Hold the Largest Market Share Owing to Technological Developments in the Area"
During the forecast period, Asia Pacific is expected to hold the largest PVD coating machines industry share. The characteristics of PVD coating equipment, technological developments, and the presence of important players are credited with this expansion. As a result, it is anticipated that these factors will increase demand for PVD coating machine products.
After Asia Pacific, North America holds the majority of the PVD coating machines industry share. The demand for various medical equipment for diagnosis and treatment is being greatly fueled by the rising prevalence of diseases and the rapidly ageing population in the US. Therefore, it is anticipated that the US's growing need for medical equipment will significantly increase the region's need for PVD coatings. Another significant reason for the growing adoption of the PVD in North America is the region's increasing use of automobiles or electric vehicles.
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
The global PVD coating machines industry market is expected to reach a value of USD 6.66 billion in 2032.
The PVD coating machines industry market is expected to exhibit a CAGR of 4.9% by 2032.
Technological development of the machines, and increasing usage of PVD coatings in electronics industry are some of the major driving factors of the PVD coating machines industry market.
The top companies in the market include Alliance Concept, DESUN Industries, ISYS Inc, Impact Coatings, Buhler Leybold Optics, Platit, Satisloh, SCHMID Group and TST taiwan supercritical technology, etc. are the top companies in the PVD coating machines industry market.
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