Physical Vapor Deposition (PVD) Market

Global Physical Vapor Deposition (PVD) Market Size (2024 to 2029)

The global physical vapor deposition (PVD) market size was at USD 28.6 Billion in 2024, projecting a CAGR of 8.5% during the forecast period 2024 to 2029. It is expected that the market share will reach USD 50.1 Billion by the end of 2029.

Current Scenario of the Global Physical Vapor Deposition (PVD) Market

Physical vapor deposition (PVD) is used to produce thin films and coatings with a variety of decomposition methods. Coatings on metals, ceramics, glass, and polymers are highly resistant to corrosion applied by electroplating processes. Compared with other varieties of coating, this method of coating is highly effective and durable. In general, PVD offers different options according to the application requirements that enable easy access to the research and development activities.

MARKET DRIVERS

The increasing prominence of using only eco-friendly procedures in various applications to reduce carbon footprints is a major factor in the market's growth at a higher rate.

Physical vapor deposition (PVD) is an eco-friendly process, as no chemical reagents will be used during the overall coating process. PVD is very effective in using any inorganic materials, resulting in great adhesion and high durability. This coating further helps in preventing corrosion that eventually influences the growth rate of the market positively. Regardless of any other coating methods, this method has huge support from government organizations as it does not release any kind of hazardous chemicals in the overall process. The growing concern over environmental pollution due to the various coating procedures is pushing industries to adopt new changes in technology to substantially lower the effects of environmental pollution. Stringent steps by government authorities to overcome the challenges due to environmental pollution are greatly influencing the growth rate of the physical vapor deposition (PVD) market.

PVD also has major advantages in manufacturing a wide range of goods, especially in semiconductor devices, which is likely to gear up the growth rate of the physical vapor deposition market.

PVD plays an important role in manufacturing ultra-thin, ultra-pure metallic, and transition-metal nitride films, which are significant in creating various logic memory applications in the semiconductor industry. The increasing demand for the use of highly advanced technologies in various applications where the prominence for logical memory applications is quietly gearing up the demand for the use of physical vapor deposition that is likely to elevate the market's growth rate.

MARKET RESTRAINTS

Lack of complete awareness over the benefits of the PVD in many industries is slowly to degrade the growth rate of the physical vapor deposition market. Small scale industries could not afford the new technological developments only due to the lack of support from the government organizations through investments in middle income countries.

Also, the supply chain of raw materials fluctuates due to various aspects, such as the easy availability of the required raw materials becoming tough in some situations, impacting the growth rate of the physical vapor deposition market in a negative way. The hurdles in the logistic facilities due to stringent rules on the trade exchanges between the countries are additionally to impede the growth rate of the market.

MARKET OPPORTUNITIES

The trend toward the rapid adoption of PVD technology in medical care devices is setting up huge growth opportunities for the market.

PVD coatings are one of the most suitable components for medical devices as they do not react with bones, tissues, or body fluids. The tool coated using PVD has a longer life span than the non-coated tools. PVD-coated tools are highly safe and ecologically sustainable products that are effective for various uses in the healthcare sector. These factors are attributed to leveraging the growth opportunities for the market in the coming years. Healthcare infrastructure is rapidly evolving with the latest technological developments that are emphasizing improving the quality of life. The demand for effective treatment procedures is significantly increasing all across the world, which is attributed to including all the ecological materials for various procedures. This shall greatly impact the growth rate of the physical vapor deposition market positively.

MARKET CHALLENGES

The availability of the other technologies available at lower cost is likely to degrade the growth rate of the market.

The companies in low- and middle-income countries opt for the local brands due to affordable prices which is a big challenging factor for the top key players in physical vapor deposition market.  The competition between the companies can also pose a negative impact on the growth rate of the physical vapor deposition market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Physical Vapor Deposition (PVD) Market By Product

Thermal evaporation segment is leading with the largest share of the market.

Thermal evaporation products have many applications in different industries. This is one of the most suitable techniques for coating a thin layer. The arc vapor deposition segment is likely to hit the largest share of the market in the coming years, whereas the sputter deposition segment is deemed to grow steadily throughout the forecast period. The arc vapor deposition technique is used to vaporize a material using an electric arc through a cathode target.

Global Physical Vapor Deposition (PVD) Market By Application

The semiconductor and electronics segment is ruling with the largest share of the physical vapor deposition market.

The growing prominence of the manufacturing of logical memory chips is highly notable in today's world due to the penetration of machine learning and artificial technology. The solar products segment is positioned next in holding the highest growth rate in the market. The demand for solar products in recent times has gradually increased with the rising costs of fuels like diesel and petrol. The importance of adopting the changes to combat environmental pollution by rapidly adopting the new changes in the technologies is set to promote growth opportunities for the market.

REGIONAL ANALYSIS

North America's physical vapor deposition market has gained huge traction over the past few years and is expected to continue in the coming years.

The US and Canada are hubs for the launch of innovative products with high-level advanced technologies. The healthcare infrastructure is gearing up to adopt the highly advanced technologies in these countries, which is surging the market's growth rate. Also, companies in the US are likely to replace traditional coating techniques with modern technologies in order to follow the stringent rules and regulations imposed by the government. The growing demand to increase the production rate of electronic devices is due to the increasing number of people using various types of electronic devices like laptops, smartphones, and tablets, among others.

Asia Pacific is to hit the highest CAGR by the end of 2029 owing to the rising scale of industries. China is the major country with the highest share of the market.

With rising support from government authorities for the manufacturing of highly innovative products. China, being the most populous country in the world, has the major goal of providing advanced electronic goods. Electronic goods in China are mostly developed using modern technology at minimal cost to attract worldwide customers. This attribute is likely to promote growth opportunities in the physical vapor deposition market in the coming years.

Europe is accounted for having the most significant growth rate in the physical vapor deposition market.

European government is strictly planning to introduce all new technologies to reduce environmental pollution. European countries are all set to reach the goal of Net Zero Carbon emissions, which is to make climate-neutral by 2050, which is zero greenhouse gas emissions. Physical vapor deposition also joins hands in meeting the goal of completely vanishing the chrome plating technology for a better environment.

KEY PLAYERS IN THE GLOBAL PHYSICAL VAPOR DEPOSITION (PVD) MARKET

Advanced Energy Industries, Inc. (USA), Intevac (USA), Oerlikon Balzers (Switzerland), Impact Coatings AB (Sweden), AJA International, Inc. (USA), Dynavac (USA), Denton Vacuum (USA), Angstrom Engineering, Inc. (Canada), CHA Industries, Inc. (USA), IHI HAUZER Techno Coating B V (The Netherlands), The Kurt J Lesker Company (USA) are some of the notable companies in the Global Physical Vapor Deposition (PVD) market.

DETAILED SEGMENTATION OF THE GLOBAL PHYSICAL VAPOR DEPOSITION (PVD)  MARKET INCLUDED IN THIS REPORT

This research report on the global physical vapor deposition (PVD) market has been segmented and sub-segmented based on product, application and region.

By Product

• Thermal Evaporation
• Sputter Deposition
• Arc Vapor Deposition

By Application

• Semiconductor & Electronics
• Solar Products
• Cutting Tools
• Medical Equipment
• Other

By Region

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