Global Physical Vapor Deposition Market Size By Product (Thermal Evaporation, Sputter Deposition), By Application (Microelectronics, Data Storage), By Geographic Scope And Forecast

Physical Vapor Deposition Market Size And Forecast

Physical Vapor Deposition Market size was valued at USD 19.71 Billion in 2022 and is projected to reach USD 37.32 Billion by 2030, growing at a CAGR of 8.31% from 2023 to 2030.

Global Physical Vapor Deposition Market is witnessing significant growth during the forecasted period due to various driving factors including growing demand from medical devices and equipment, potential advantages of Physical Vapor Deposition, and increasing applications across microelectronics, amongst others. Expanding industrial manufacturing is expected to drive market expansion over the forecast period. Physical vapor deposition is used to cover tools and components to improve their operation and aesthetic appeal. The market is expected to grow steadily throughout the forecast period due to the revival of industrial manufacturing.

Global Physical Vapor Deposition Market Definition

Physical vapor deposition, or PVD (sometimes called physical vapor transport), is basically a way of making really thin films and coatings using a vacuum. Think of it as a multi-step process where something turns into a vapor first, and then it turns into a thin film. Sputtering and evaporation? Those are the rockstars of the PVD world! We use PVD to create materials with these super-thin layers that need specific properties, like how they stand up to wear and tear, how they interact with light (optical), their chemical resistance, or their electrical behavior. Examples? Consider thin-film solar panels, that shiny aluminized PET film we see in food packaging and balloons, or those tough titanium nitride-coated metalworking cutting tools.

Physical vapor deposition (PVD) is implemented during the production of different products or goods including semiconductor devices, aluminized PET film for balloons and snack bags, optical coatings, and filters, coated cutting tools for metalworking and wear resistance, and highly reflective films for aesthetic displays. It increases hardness, and wear resistance, and prevents oxidation. As a result, it’s also employed for aesthetic purposes.

Global Physical Vapor Deposition Market Overview

The increased adoption of microelectronics across a wide range of industries is driving the growth of the Physical Vapor Deposition Market. Microelectronics is used to create small electronic devices as small as a few micrometers in the automotive, defense, and healthcare industries. Microelectronics is a major industry that employs physical vapor deposition. As a result, the microelectronics market is expanding, driving up demand for physical vapor deposition.

Physical vapor deposition will be used more frequently in the production of Low-E glass for the construction and automotive industries, which is likely to accelerate market growth. PVD materials used to coat Low-E glass include silver, copper and its alloys, chromium, aluminum, and aluminum alloys. Low-E glass is very important in the construction sector because it lowers heat loss. As a result, the increased demand for Low-E glass from the building industry is expected to boost the market expansion of physical vapor deposition.

PVD is pretty gentle on the environment since it skips the harsh chemicals and after-cleaning stuff. Plus, it works on just about any inorganic material. You get coatings with great adhesion, that are tough and last a long time. And the PVD process? It gives you a ton of control over exactly what the coating is made of and how thick it is. What's really cool is that physical vapor deposition (PVD) is getting super popular in medical devices because it can tweak the surface without messing with how the device actually works inside the body. We're talking about films from just a few nanometers thick to thousands! But that's not all – you can even use it for multilayer coatings, deposits with changing composition, really thick coatings, and even structures that stand on their own.

The COVID-19 epidemic had a moderate influence on the Physical Vapor Deposition Market growth, notably in the first half of 2020, due to lockdowns, a lack of workers, supply chain disruptions, and a demand reduction. Due to the disruption of output in significant end-use industries caused by the COVID-19 pandemic, demand for all categories fell precipitously. The PVD industry’s year-over-year growth rate was hampered by the fact that it does not supply critical services and that demand for critical applications such as solar panels, electronics, cutting tools, and others declined.

Global Physical Vapor Deposition MarketSegmentation Analysis

The Global Physical Vapor Deposition Market is Segmented on the basis of Product, Application, And Geography.

Physical Vapor Deposition Market, By Product

• Thermal Evaporation
• Sputter Deposition
• Arc Vapor Deposition

Based on Product, the market is bifurcated into Thermal Evaporation, Sputter Deposition, and Arc Vapor Deposition. Sputter Deposition accounted for the largest market share in 2021 and is projected to grow at a significant CAGR during the forecast period. It is expected to account for USD 17.55 Billion by 2030. Sputter deposition is used to deposit elemental material films. Because the material is withdrawn from the target layer by layer, it can deposit alloy layers while maintaining the composition of the target material.

Physical Vapor Deposition Market, By Application

• Microelectronics
• Data Storage
• Solar Products
• Cutting Tools
• Medical Equipment
• Others

So, when we look at Application, the market is broken down into areas like Microelectronics, Data Storage, Solar Products, Cutting Tools, Medical Equipment, and a few Others. Back in 2021, Microelectronics was the biggest piece of the pie, and experts think it'll keep growing pretty quickly. You see physical vapor deposition – that's a common way to do things in Microelectronics and semiconductor packaging for satellites, space stuff, and even the military. It's also popping up in packaging for things like microelectromechanical devices. Basically, these newer areas are expected to really help the whole market grow. Now, even though Microelectronics is doing well, Cutting Tools actually hold the largest market share overall. There's huge demand for them because they can do so much, like threading, grooving, and end milling.

Global Physical Vapor Deposition Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Based on regional analysis, the Global Physical Vapor Deposition Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific accounted for the largest market share of 43.01% and is projected to grow at a significant CAGR during the forecast period. The Asia-Pacific area was revealed to be the largest market for PVD due to increased demand from countries such as China, India, and Japan. China is a major aircraft manufacturer and a big domestic air transport industry.

Over 200 small aviation parts manufacturers are growing their use and demand for physical vapor deposition (PVD), and the country’s aircraft parts and assembly manufacturing sector is rapidly developing. Furthermore, it is expected that the strong need for equipment such as flash memory and DRAM in Asian countries will sustain product demand over the forecast period.

Key Players

The “Global Physical Vapor Deposition Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Veeco Instruments, Oerlikon Balzers, Platit AG, Applied Materials, Mustang Vacuum Systems, Singulus Technologies, HEF USA, AJA International, Angstrom Engineering, and Buhler AG,

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In October 2022, SINGULUS TECHNOLOGIES has received another POLYCOATER vacuum coating machine order. The Korean customer is already using the POLYCOATER. The customer chose SINGULUS TECHNOLOGIES’ coating machine once more
• In February 2022, Veeco Instruments reported that an optoelectronic component manufacturer has placed an order for numerous Lumina Metal Organic Chemical Vapor Deposition (MOCVD) Systems for the fabrication of edge photonics applications. The customer now uses several Veeco MOCVD platforms as well as other Veeco technologies
• In September 2021, Applied Materials, Inc. unveiled new technologies and capabilities to assist its clients in accelerating their technology roadmaps for heterogeneous chip design and integration. Applied is leveraging its advanced packaging and large-area substrates leadership technologies with industry collaborations to accelerate the availability of solutions that enable simultaneous gains in power, performance, area, cost, and time to market
• In May 2021, Singulus Technologies, a manufacturing firm based in Germany, collaborated with China National Building Material Co., Ltd., a building material company based in China, to create New Vacuum Coating Machines based on CdTe Thin-Film Technology

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Physical Vapor Deposition Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Physical Vapor Deposition Market, gauge the attractiveness of a certain sector, and assess investment possibilities.