Albany, NY -- (SBWIRE) -- 09/26/2017 -- Key manufacturers in the physical vapor deposition market are Platit AG, Mustang Vacuum Systems, Oerlikon Balzers, Veeco Instruments Inc., Applied Materials, Inc., ULVAC Inc., Semicore Equipment, Inc., HEF USA, Singulus Technologies AG, IHI Corporation, Silfex Inc. (Lam Research Corp.), and Buhler AG.
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According to the report, the global physical vapor deposition market was valued at US$16,410.9 mn in 2016 and is projected to reach US$33,335.2 mn by 2025 at a CAGR of 8.3% from 2017 to 2025.
In terms of category, PVD equipment dominated the global PVD market in 2016, accounting for more than 50% of the market. The PVD equipment segment is anticipated to continue its dominance during the forecast period. However, high costs associated with production, operation, and maintenance of PVD equipment are anticipated to increase the demand for PVD services during the forecast period. The PVD services segment is anticipated to grow at a CAGR of more than 8% during the forecast period. Geographically, Asia Pacific is likely to hold a leading share in the global physical vapor deposition market in the coming years.
Rising Diversity of Applications Benefits Physical Vapor Deposition Market
The global physical vapor deposition market is expected to witness rapid growth during the forecast period owing to rise in demand for PVD in various applications such as microelectronics, data storage, solar products, medical equipment, cutting tools, architectural glasses, and others. Growing construction and automotive industries are anticipated to increase the demand for cutting tools which in turn boost the overall market for PVD during the forecast period. Increasing awareness regarding energy generation from renewable resources is likely to provide lucrative opportunity for solar industry. This, in turn, is likely to boost the demand for physical vapor deposition.
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Rise in demand for technological advancements has led to increase in the microelectronics market, and thereby the PVD market. The microelectronics segment accounted for more than 40% of the global physical vapor deposition market in 2016 and is expected to retain a dominant share in the coming years.
The solar products application segment is also estimated to witness the most significant growth in the next few years owing to increasing initiatives aimed at maximizing the use of sustainable energy sources. Rise in demand for PVD in solar energy products is thus anticipated to boost the overall market for PVD during the forecast period. Physical vapor deposition is used for coating solar cells in order to improve the performance of devices. Medical equipment, architectural glasses, and data storage are also among the major application segments for PVD.
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High Investment Costs Deter Entry of New Players in PVD Market
A major drawback of physical vapor deposition is the high degree of patent protection afforded to the technology and the high investment costs required to establish a firm presence in the industry. There are several patents for PVD process kits, PVD targets, PVD chambers, ionized PVD systems, and coating materials. There are more than 200 patents for PVD technology, systems, process, and materials, which include American patents, European Parliament (EP) documents, abstracts from Japan, World Intellectual Property Organization (WIPO), and patents from Germany. These patents have restricted the entry of new players as well as further expansion of smaller players in the market.
The information in this preview comes from a Transparency Market Research report titled 'Physical Vapor Deposition Market (Category - PVD Equipment, PVD Services, and PVD Materials; Application - Microelectronics, Data Storage, Solar Products, Medical Equipment, Cutting Tools, and Architectural Glasses) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.'