A Better Approach To Physical Vapor Deposition and Impact of COVID-19……..Posted by Mrudula Anil Karmarkar on May 24th, 2021 The global physical vapor deposition market size is expected to reach USD 30.3 billion by 2027, expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. The rising sales of electronic goods in emerging economies such as China, India, and Thailand is expected to surge the demand for memory chips, thereby driving the growth for physical vapor deposition technology over the coming years. The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor. The demand for physical vapor deposition coatings is anticipated to grow significantly on account of their ability to improve product appearance and durability. The coatings do not require any process medium which makes it an environmentally friendly process that provides appealing, durable, and bright finishes on a wide variety of industrial and consumer components. The demand for physical vapor deposition in the medical equipment industry is growing owing to the rising demand for wear-resistant and bio-compatible thin film coatings in various types of medical devices, including orthopedic plants, stents, pacemakers, medical pressure sensors, orthodontic appliances, dental instruments, and surgical instruments. Constructive regulatory support for encouraging domestic level private investment in Mexico is likely to boost the semiconductor industry, thereby stimulating market growth of physical vapor deposition over the forecast period. In addition, increased spending on research and development by medical device manufacturers in the U.S. is expected to further propel PVD market growth over the coming years. Further key findings from the report suggest:
Memory components represented more than 30% of the overall semiconductor sales in 2018. Semiconductor memory refers to a plethora of electronic data storage devices that find applications in consumer devices, commercial IT applications, computers, and the emerging spectrum of IoT applications. The rising sales of electronic goods in emerging economies such as China, India, and Thailand are expected to surge the demand for memory chips, thereby propelling the market growth of physical vapor deposition coatings over the coming years. The demand for physical vapor deposition coating is anticipated to grow significantly on account of its ability to improve product appearance and durability along with updating the product’s base material with additional functions. In addition, the coating does not require a process medium which makes it an environmentally friendly coating process that provides appealing, durable, and bright finishes on a wide variety of industrial and consumer components. The rising consumer demand for lightweight materials in the automotive sector owing to low CO2 emissions and less fuel consumption has increased the demand for magnesium, aluminum, and carbon-reinforced plastic materials. These materials have the tendency to stick to the cutting tool resulting in reducing the lifespan of the tools. This trend has stimulated the development of new coating materials with a low coefficient of friction, thereby surging the demand for physical vapor deposition in recent times. Physical vapor deposition coating has been widely used to deposit a thin-film of wear-resistant coatings on a variety of medical devices, including pacemakers, orthodontic appliances, surgical instruments, dental instruments, and orthopedic implants. TiN and CrN are preferred materials for coating in the medical industry as they improve wear resistance, reduce friction, acts as a chemical barrier, and offer biocompatibility to the tools. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/1130/ibb The market is characterized by the presence of a large number of players including Advanced Energy Industries, Inc.; AJA International, Inc.; Applied Materials, Inc.; and Angstrom Engineering, Inc. Companies are involved in extensive research and development activities along with mergers and acquisitions with the leading manufacturers and distributors to strengthen their presence in the emerging economies. The market for physical vapor deposition is expected to be consolidated in nature as the key players are focusing on expanding their customer base in the emerging economies by mergers and joint ventures. For instance, ASM Pacific Technology acquired Telnexx, which is expected to expand the company’s product portfolio in the high growth markets that include the manufacturing of tools and advanced semiconductor packaging materials. The physical vapor deposition technique requires high capital costs, skilled labors, and a line of sight process. In addition, the parts used for coating are exposed to high temperatures and require electroplated layers for maximum corrosion protection, which is difficult to achieve. The rising demand for chemical vapor deposition technique owing to less waste deposition and transition sharpness is expected to restrict market growth over the coming years. Grand View Research has segmented the global PVD market on the basis of product, application: Physical Vapor Deposition Category Outlook (Revenue, USD Million, 2016 - 2027)
Physical Vapor Deposition Application Outlook (Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |