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Physical Vapor Deposition Market

Physical Vapor Deposition Market

Physical Vapor Deposition Services to Create Significant Value Opportunities in the Physical Vapor Deposition Market during 2020-2030

Physical Vapor Deposition Market
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Physical Vapor Deposition Market to Witness Positive Growth

Global physical vapor deposition market is set for a positive growth trajectory at 6% CAGR during the forecast period (2020 - 2030). Advancements in data storage capacity of computers and smartphones, stimulate a need for physical vapor deposition on hybrid internal memory circuits.

Prevalence of cost-efficient electromagnetic shields for lightweight components is heightening demand for physical vapor deposition processes. Increasing adoption of solar energy by manufacturing units and consumers alike is facilitating continuous adoption of physical vapor deposition of photovoltaic products.

Expanding spectrum of Internet of Things (IoT) enabled smart devices, requires the device to record, store, and transfer data efficiently. Hence, consumer adoption of smart devices and IoT products will further the demand of physical vapor deposition on memory components of these smart products.

Microelectronic Products to Remain Key Application Segment

Physical vapor deposition in the microelectronic sector accounts for a majority share of over 39% of the total market value. This can be accredited to the increasing need for microelectronics by manufacturers of home automation, artificial intelligence (AI), and machine learning (ML) smart devices. Data storage applications of physical vapor deposition accounts for the second largest market value share of more than 23%.

physical vapor deposition market opportunity analysis by application

A surge in demand for increased storage capacity of devices and enhanced processing speeds demands the high performance of storage devices such as solid state drives (SSD). These high-performance storage devices warrant physical vapor deposition to ensure the smooth functioning and durability of products.

Medical equipment offers the highest growth opportunity with a stellar 8.7% CAGR during the projection period. The Proliferation of interconnecting medical equipment amid heightening healthcare expenditure will continue to nourish demand from this segment.

North America Poised to be Revenue Hotbed

North America accounts for the largest market value share of over 26%. Advancements in medical equipment are creating demand for high performance devices with physical vapor deposition coatings. East Asia is accredited with more than 22% of the total market value share.

Surging industrial production in countries such as China, Japan, and South Korea supports the two-fold growth in these regions. Since manufacturers are eyeing enhanced product durability offered by physical vapor deposition, manufacturers will witness an upsurge in demand for coating services and products.

COVID-19 Impact on Physical Vapor Deposition

Expulsion of all non-essential trade between countries has cost many businesses a significant share of quarter 1 revenues. Government health institutions around the world are overwhelmed by the mass-outbreak of COVID-19. The deadly virus has affected more than 1.6 Mn consumers in just a few months of being declared a global pandemic. Hence, it is natural for governments to contain the spread of coronavirus by preventing mass gatherings.

This means a considerable drop in offline sales of electronics that employ physical vapor deposition in their components. The impact of COVID-19 has a two pronged effect on the automotive sector. Both, production and sales of light weight conventional and electric vehicles are witnessing loss of proposed revenues.

This further depletes an otherwise strong growth trajectory of the physical vapor deposition market. Market players are targeting early recovery tropical countries such as Singapore, and Indonesia on the back of low number of COVID-19 cases. Effective and efficient recovery steps taken by the Chinese government presents a favorable development.

As many electric components are sourced from China, market players are focused on tracking and monitoring the developments in China’s COVID-19 spread. Physical vapor deposition market will continue on a healthy growth trajectory after the COVID-19 Pandemic is contained and usual trade routes will resume import and export.

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Product Innovation - Chief Growth Strategy Employed by Leading Stakeholders

The development of new coating materials with low coefficient of friction energizes the adoption of physical vapor deposition products and services. Consumer demand for low carbon emission, lightweight materials in automotive promote physical vapor deposition on cutting tools and automotive components.

physical vapor deposition market competitive anaysis

Global Physical Vapor Deposition Market: In-Depth Assessment on Key Segments

The global physical vapor deposition market is segmented on the basis of category, application and region.

Category

  • PVD Equipment
  • PVD Materials
  • PVD Services

Application

  • Microelectronics
  • Data Storage
  • Solar products
  • Cutting Tools
  • Medical Equipment
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.

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