Categories: Chemicals

Physical Vapor Deposition Global Market Report 2023

The Physical Vapor Deposition Global Market Report 2023 by The Business Research Company, provides physical vapor deposition market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Physical Vapor Deposition Global Market Report 2023, the market size is expected to grow from $19.56 billion in 2022 to $21.77 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global physical vapor deposition market size is expected to grow to $29.78 billion in 2027 at a CAGR of 8.1%.

The rise in demand for medical devices and equipment is projected to drive the growth of the physical vapor deposition (PVD) market in the coming years. Physical vapor deposition (PVD) is increasingly being used by medical device manufacturers to create extremely strong, thin coatings on stainless steel, titanium, ceramics, and other advanced products. PVD coating methods are used to increase corrosion resistance in medical device coatings, orthopaedic surgical instruments, and implants.

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The physical vapor deposition market is segmented:

1) By Type: PVD Equipment, PVD Materials, and PVD Services

2) By Process: Thermal Evaporation, Sputter Deposition

3) By Application: Microelectronics, Data Storage, Solar Products, Cutting Tools, Medical Equipment, Other Applications

The growth in technological advancements is gaining popularity in the physical vapor deposition market. Major companies are developing advanced coating solutions that improve productivity and are also environmentally friendly. For instance, in 2020, Germany-based Inorcoat introduced its new PVD plating technology for intaglio printing plates, which includes a thin-film development for printing plates. The new solution will also help the security printing industry make industrial production more environmentally friendly. Also, in 2020, a US-based company, Advanced Energy, introduced its new Ascent MS multi-output power supply system for the lowest system and infrastructure costs in solar photovoltaic (PV) plasma-enhanced chemical vapor deposition (PECVD) systems for the manufacturing of solar cells.

The physical vapor deposition market report table of contents includes: