Physical vapor deposition is a process in which the material goes from a condensed phase to a vapor phase and then back to a thin film as it condenses onto a substrate. This process is commonly used for applying thin films of corrosion-resistant and wear-protective coatings for applications across automotive, biomedical, electronics and decorative industries. Physical vapor deposition employs evaporation, condensation and chemical reactions of vaporized material to produce thin films and coatings. Some key advantages of PVD coatings are hardness, wear and corrosion resistance, low friction, high reflectivity and ability to coat complex geometries. With growing demand for hard coatings in industrial applications such as cutting tools, medical devices, architectural glass and decorative articles, the global PVD market is expected to grow significantly over the forecast period.
The Global Physical Vapor Deposition Market is estimated to be valued at US$ 24.04 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Physical Vapor Deposition are Oerlikon Balzers (Oerlikon Group), IHI Corporation, Silfex Inc., Lam Research Corp, Singulus Technologies AG, Applied Materials, Inc., ULVAC Inc., Veeco Instruments Inc., Buhler AG, Semicore Equipment, Inc., Platit AG., Intevac, Inc., Denton Vacuum, Impact Coatings AB, Advanced Coating Service, KOLZER SRL, Inorcoat, Lafer S.p.A., Kobe Steel Ltd., HEF Groupe.
The Physical Vapor Deposition Market Demand is expected to witness high growth with rising demand from electronics, automotive, medical devices and solar industries. Increasing research and development in PVD thin film coating technologies will further drive market growth.
Advancements in PVD technologies such as closed-loop control systems, in-process monitoring and integrated metrology are enabling deposition of ultra-thin, uniform and robust coating layers on complex 3D geometries. Combined PVD-CVD technologies are also gaining traction for applications requiring multilayer coatings.
Market drivers
Increased investment in RD for development of new PVD coating materials such as nitrides, oxides and mixed tribology coatings is a key driver for the market. Growing adoption of PVD coatings in newer applications across architectural, decorative, packaging and medical industries will further propel demand over the forecast period. Strict environmental regulations regarding heavy metal content in coatings also favor the environmental friendly PVD coating technique.
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