Physical Vapor Deposition Market : Key Growth Factors and Industry Analysis 2024

The global physical vapor deposition (PVD) market is currently led by manufacturers such as IHI Ionbond AG and Oerlikon Balzers (Oerlikon Group). Together these companies account for the dominant market share in the market, clearly due to the superfluous coasts of PVD devices. As the patent protected nature of the PVD technology has restricted the scope for entry of new players, the existing ones enjoy stronghold in determining the price points. A majority of these companies are domiciled in North America, Europe, and Asia Pacific, finds Transparency Market Research (TMR) in a new study. As a result, only strategic collaborations with PVD companies across these regions can help new vendors establish their foothold in the global physical vapor deposition market.

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As per TMR, the global PVD market, which in 2015 stood at US$13.6 bn is expected to reach US$21.8 bn by the end of 2024. If the figures hold true, the global physical vapor deposition market will exhibit a CAGR of 5.5% between 2016 and 2024. Among the key segments, PVD equipment emerged dominant with a share of 57% in the market in 2015. Through the forecast period, the segment is poised to exhibit a positive trajectory. Regionally, the overall market was led by Asia Pacific with a share of 40% in 2015. In the forthcoming years as well, the region is projected to maintain its dominance.
Demand for PVD Technology to Rise as People Become Aware of its Diverse Applications
The global physical vapor deposition market is chiefly gaining from the rising awareness regarding the benefits of the technology over conventional coating methods. In the PVD technology several high-strength solid materials such as aluminum, chromium, and titanium are used, which ensure better strength, durability, and high corrosion resistance of PVD coatings. Moreover, no residue is formed during the application method of PVD coatings, which is a key factor fuelling their demand in the global market.
In addition, PVD coatings ensure uniform and controllable deposits contrary to the uncontrollable deposits formed during electroplating. It is due to the environment-friendly characteristics of PVD, such as it generates no or very less toxic wastes, which mitigates the need of waste management, that the demand for physical vapor deposition is expected to rise in the coming years. Furthermore, the increasing use of the PVD technology in the production of low-e glass is also projected to give the global PVD market a significant impetus in the forthcoming years.

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Market being Patent-protected Restricts Entry of New Players
A majority of the key elements of the PVD industry, such as PVD chambers, coating materials, PVD targets, and process kits are protected by patents, the right to which belong to key market players. The patented nature of PVDs not only restricted the entry of new players but also limited the scope of expansion for smaller companies. Furthermore, the PVD technology requires high initial investment, for end users to customize it based on specific applications. These factors have a negative impact on the overall physical vapor deposition market.

Furthermore, differentiating manufacturing processes and innovating new products will require high investment. Sustenance become a big challenge in this scenario thus hampering the global PVD market to an extent.

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