Physical Vapor Deposition Market to Rear Excessive Growth During 2025
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.
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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.
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.
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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.
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.
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