Global Physical Vapor Deposition market is heading towards growth phase with 7.84% CAGR through 2025
SOUTHLAKE, TX, UNITED STATES, October 15, 2019 /EINPresswire.com/ — Physical Vapor Deposition Market is an emerging market with a market value of $17.3 billion during 2018 and is set to precede the chemicals and materials sector with 7.84% CAGR during the forecast period 2019-2025.
Strong growth in semiconductors and electronics industry is among the key market driver projecting strong physical vapor deposition market growth. In addition, the consumption of PVD equipment and services from solar and energy sector is forecast to boost the market size from $1.1 billion to $2 billion.
In addition, optical electronics is emerging as an important sub-segment in PVD applications. Manufacturers of optical materials are using PVD deposition technologies to manufacture films with stringent specifications and minimal production losses.
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Growth in number of products with PVD technology, large consumption of PVD across healthcare industry medical devices OEMs, mutual collaborations by major firms are showcasing positive impact on the physical vapor deposition market growth.
Further, PVD vendors are investing in extending PVD services and continuous. Growth in R&D activities is offering wide range of end user product with advantages of surface aesthetics and cost reduction. For instance, recent Tata Steel Europe’s cross-licensing agreement with POSCO (access to PVD technology) allows steels to be given in anti-corrosion coatings in effective time and cost.
However, lack of highly skilled professionals, high cost of ownership and investments for equipment maintenance are amidst challenges faced by the global physical vapor deposition market.
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PVD equipment showcases strong market opportunity with emergence of strong key vendors
PVD equipment contributed a market share of about 49.2% amid the key type segments of market during 2018. Applied Materials Inc., Veeco Instruments are among the key players providing numerous PVD equipments across the global PVD market.
The PVD equipment is differentiated based on the end-use application in each industry. AKT ®-PIVOT™ DT PVD, ENDURA ® AL PVD, CHARGER™ UBM PVD among others are PVD equipment used in Display, semiconductor industry provided by Applied Materials Inc.
In addition, PVD services and materials are set to penetrate market growth. Tech support, preventive maintenance and proper maintenance of vacuum systems are the key services offered by the major companies. DC/RF Sputtering, Osmium Plasma Coating is among the other deposition services which are being offered by the key players.
Further, PVD materials segment is set to growth with Asia Pacific as the key market holder for material segment. Key players are offering diverse forms of PVD materials with high purity to create thin film coatings for versatile applications.
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Microelectronics end user sector maintains strong market growth with CAGR of 8.29% through 2025
Increased production of PVD products and services across microelectronics sector is driven by wide range of applications including wafer fabrication for LED diode, ICs and other components. In addition, PVD processes are adopted for depositions of thin films on silicon wafer substrates and thin layers of Gallium across LED manufacturing applications.
Among key end user verticals, data storage, solar products and medical equipments, PVD market is significantly driven by industrial tools, automotive, decorative coatings, composites production, and packaging. Accordingly, other application market segment accounted for 35.5% of total market value during 2018 and is expected to increase steadily.
Key market trends are set to shape the Asian physical vapor deposition market throughout the estimated period
Physical Vapor Deposition Market growth is set to emerge across Asia Pacific driven by strong semiconductor manufacturing base, growing automotive, and telecommunications industry during the forecast period.
Further, huge demand from Asian microelectronics sector along with rising demand for LED appliances is encouraging the usage of PVD technology to obtain advantages of qualitative production at reasonable cost.
In addition, PVD processes are set to penetrate into the electroplating applications attributed to stringent environmental regulations imposed by the developing countries.
Whereas, Americas continues to exhibit strong market share driven by the large consumption of PVD technology by OEMs of medical equipment devices. Emerging trend for minimally invasive procedures coupled with advancement of medical equipment is set to trigger the PVD market growth through 2025.
Strategic alliances, investments and innovative products are key market trends observed by PVD market players
The key players operating in the market are entering into strategic alliances and agreements to meet the demands across end user applications. For instance, in 2018 -Tokyo Electron Ltd. (TEL)’s subsidiary TEL NEXX has signed an agreement with ASM Pacific Technology to sell physical vapor deposition (PVD) systems for IC packaging.
In addition, key OEMS are marking strong market share by offering PVD services to the consumer goods sector. For example, in 2018 Huawei launched Huawei Watch GT in which the PVD coating is used to minimize scratches.
Further, joint investments are observed by market OEMs to expand their product portfolio based on latest technology. On similar lines, in 2018, Veeco Instruments Inc. and Gooch & Housego announced installation of Veeco’s SPECTOR ion beam sputtering optical coating system the production facility.
Key players contributing major market share include Advanced Energy Industries Inc., AJA International Inc., Veeco Instruments, Angstrom Engineering and Applied Materials Inc., Oerlikon Balzers Hartec GmbH, Denton Vacuum, Hauzer Techno Coating, Impact Coatings, Johnsen Ultravac, Kurt J. Lesker Co, Plasma Quest, Platit AG, Richter Precision, Sulzer Metplas, and Tokyo Electron.
• Atomic Layer Deposition (ALD) Equipment Market
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Source: EIN Presswire