The Physical Vapor Deposition Market Is Estimated To Witness High Growth

The physical vapor deposition market is estimated to be valued at US$ 21.07 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Physical vapor deposition is a process used to deposit thin films of materials such as metals, ceramics, and alloys on substrates in a vacuum or low pressure environment. The key applications of physical vapor deposition are metalizing, protective coatings, reflective coatings, and decorative coatings. It is widely used in semiconductor and microelectronics industry for fabrication of microelectronics and integrated circuits.

Market Dynamics:
The increasing demand for physical vapor deposition from the semiconductor industry is expected to drive the market growth over the forecast period. Physical vapor deposition plays a key role in semiconductor device fabrication as it is used for depositing thin films of materials like copper and aluminum. The growth of the electronics industry and increasing demand for miniaturized devices is fueling the semiconductor industry growth, which in turn is boosting the demand for physical vapor deposition. Furthermore, increasing adoption of physical vapor deposition in other applications like optics, data storage, and medical devices is also expected to propel the market growth during the forecast period. However, high cost of ownership associated with physical vapor deposition equipment may hamper the market growth.

SWOT Analysis
Strength: Physical Vapor Deposition has high efficiency and versatility. It can be used to deposit different kinds of thin films. PVD is widely used in the electronics industry for coating tools and components. The technique offers excellent uniformity and adhesion of thin films on substrates.

Weakness: PVD processes require high vacuum conditions which increases equipment and operating costs. The process can be time consuming for depositing films of considerable thickness.

Opportunity: Growing demand for thin film coatings from the electronics, automotive and medical device industries offers significant opportunities for growth. Emerging applications of PVD in photovoltaics, green technology and aerospace sectors present new avenues for expansion.

Threats: Availability of alternative thin film deposition techniques like chemical vapor deposition poses competitive threats. Stringent environmental regulations associated with handling of hazardous gases also present challenges.

Key Takeaways
The Global Physical Vapor Deposition Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from the electronics industry. Miniaturization trend and growing use of PVD coated components in smartphones, wearables and other consumer electronic devices is fueling market growth.

North America dominated the global market in 2023 with around 30% revenue share followed by Asia Pacific. The Asia Pacific physical vapor deposition market exhibits the fastest growth due to expanding electronics manufacturing base and rising electrical and automotive production in China, India, Japan and South Korea. Countries like China, Japan and South Korea are the major domestic markets as well as export hubs.

Key players operating in the Physical Vapor Deposition market are Oerlikon Balzers (Oerlikon Group), IHI Corporation, Silfex Inc., Lam Research Corp, Singulus Technologies AG, Applied Materials, Inc., ULVAC Inc., Veeco Instruments Inc., Buhler AG, Semicore Equipment, Inc., and Platit AG. Major players are focusing on R&D to develop new PVD technologies and equipment catering to emerging application areas. Strategic acquisitions and expansion of regional footprints are other key strategies being adopted.

 

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