January 11, 2024 07:46 ET | Source: Precedence Research Precedence Research
Ottawa, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The global physical vapor deposition (PVD) market size accounted for USD 22.66 billion in 2024 and is expected to reach around USD 32.69 billion by 2030, According to Precedence Research. Asia Pacific led the global market with the largest market share of 47.32% in 2022. vacuum metalizing
The Physical Vapor Deposition (PVD) market is driven by the growing demand for electronics & semiconductors, rising adoption in medical applications, automotive industry growth, advancements in coating technologies, focus on energy efficiency and others.
Physical Vapor Deposition (PVD) is a thin film deposition technique used in various industries, including semiconductor manufacturing, optics, aerospace, and decorative coatings. PVD is a type of vacuum deposition method where a material undergoes a physical transformation from a solid to a vapor phase and then condenses onto a substrate to form a thin film. PVD offers several advantages, including the ability to deposit films with high purity, precise control over film thickness, and the ability to coat complex shapes and substrates.
Common PVD techniques include thermal evaporation, electron beam evaporation, and various forms of sputtering, such as magnetron sputtering and ion beam sputtering. Applications of PVD span a wide range, from creating protective coatings on cutting tools to depositing reflective layers on mirrors and manufacturing electronic devices with thin film components. PVD is a versatile technology that plays a crucial role in the development of advanced materials and devices in various industries.
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Asia Pacific is expected to hold a substantial market share over the forecast period. The region of Asia-Pacific was determined to be the largest market for PVD coating consumption because of rising demand from nations like China, India, and Japan. One of the biggest markets for domestic air travel as well as one of the biggest producers of aircraft is China. Furthermore, the nation's industry for producing aviation parts and assemblies has been expanding quickly, with more than 200 small makers of these components using and demanding physical vapor deposition (PVD) coating.
PVD coatings are the perfect functional metal coating for the aerospace sector since they are durable and have low friction. Thus, the aforementioned stats drive the market expansion during the forecast period.
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Physical Vapor Deposition (PVD) Market Scope
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The equipment segment is expected to dominate the market during the forecast period. The manufacturers of surface coatings are working to reduce carbon emissions and implement environmentally friendly procedures. Due to the advantages of PVD's reduced carbon footprint, surface coating businesses all over the world have a significant demand for PVD equipment. PVD coating is accomplished by using high-quality equipment that enables process optimization. To support the growth of the global PVD market soon, the manufacturers are developing application-specific PVD equipment for big die and broaches, automotive components, high-estimate tool coatings, and decorative coatings.
In addition, the competitors in the physical vapor deposition market are working on developing magnetron sputtering systems, which are employed in the deposition of several kinds of films, including tungsten, gold, platinum, and aluminum alloys, on wafers. This reason is expected to propel the physical vapor deposition market's growth in the PVD equipment sector globally.
The plastics segment is expected to grow at a rapid rate over the forecast period. Plastic components frequently have PVD coatings added to them for aesthetic reasons. These coatings may give objects like consumer goods, automobile interiors, and electronic gadgets a metallic look that adds quality and aesthetic appeal. Furthermore, plastics may not be as durable as other materials, however, PVD coatings can increase their resilience. Plastic components may be made more durable and resistant to wear by coating them with compounds like chromium nitride (CrN) or titanium nitride (TiN). This allows for uses in consumer goods and the automotive industry.
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Drivers: Growing demand for solar panels
Multiple governments across the globe are planning to switch to renewable energy sources due to the worsening environmental circumstances and global depletion of conventional fuel. The quick urbanization and industrialization of society, together with the increased need for fuel for electricity production, have all greatly increased carbon emissions. As the globe shifts to using renewable energy sources, the demand for solar panels is being driven by increased government measures to reduce carbon emissions. PVD is widely used in solar panels to increase their lifespan and resistance to corrosion. Thus, the growing demand for solar panels drives the market expansion during the forecast period.
To create high-quality graphene using vapor deposition, certain equipment is needed, and parameters regarding gas volumes, pressure, temperature, and time intervals must be closely followed. Throughput and productivity are increased by processing many substrates in parallel using the cluster tool system. Typical setups include a transfer chamber, several process chambers that can execute one or more processes, and a load lock chamber for loading substrates. Using a robotic arm, the substrates are moved between chambers while under vacuum to keep them from coming into contact with air, which stops oxidation and contamination. The high initial cost of all of them serves as a barrier to the physical vapor deposition business.
Opportunity: Growth of the automotive industry
The automotive industry uses PVD for various applications, including decorative coatings, wear-resistant coatings, and improving the durability of automotive components. As the automotive sector continues to grow, so does the demand for PVD technologies. For instance, according to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced globally in 2022, a 5.7% increase from 2021. In addition, as per the data published by Invest India, the total amount of autos exported grew positively by 35.9%, from 4,134,047 in 2020–21 to 5,617,246 in 2021–22. It is anticipated that by 2050, the trucking market in India will have expanded by more than 4 times. By 2050, there will be around 17 million trucks worldwide, more than quadrupling from 4 million in 2022.
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