In the global physical vapor deposition (PVD) market manufacturers of
PVD equipment such as Oerlikon Balzers (Oerlikon Group), and IHI
Ionbond AG account for a dominant share of the pie, clearly owing to
the disproportionally high costs of PVD equipment, observes a recent
report by Transparency Market Research. The patent protected nature
of the PVD technology has kept a check on the number of new entrants
in the market in the past years. Most owners of crucial PVD
technology are concentrated in Europe, North America, and Asia
Pacific. As a result, strategic acquisitions and collaborations with
PVD companies in these regions are expected to help new vendors to
establish a foothold in the global PVD market.
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Transparency Market Research states that the global PVD market will
expand from a valuation of US$13,600.0 mn in 2015 to US$21,898.8 mn
by 2024. The market is expected to exhibit a healthy 5.5% CAGR over
the period between 2016 and 2024. Of the three core segments of the
market, the segment of PVD equipment, which presently led the market
with a nearly 57% share in 2015, is expected to continue its healthy
run over the forecast period as well. In terms of geography, Asia
Pacific dominates, accounting for an over 40% of the global market in
2015. The region is also expected to remain the dominant regional
market for PVD equipment, services, and materials in the near future.
Rising
Awareness regarding Benefits of PVD over Alternatives to Drive Market
The global PVD market is chiefly driven by the rising awareness
regarding the advantages of physical vapor deposition coating over
conventional coating technologies. The usage of several high-strength
solid materials such as titanium, chromium, and aluminum in the PVD
coating technique facilitate high strength, durability and corrosion
resistance to the applied surface. Also, the application processes in
PVD coatings do not result in any residue. This is unlike the
alternate coating methodologies used in the market, such as
electroplating and chemical vapor deposition (CVD).
These alternatives include a limited number of metals for deposition,
whereas PVD offers a wide range of metals and substrates for coating.
Also, PVD coatings allow uniform and controllable deposits compared
to the uncontrollable deposits formed by electroplating.
Environment-friendly characteristics of PVD, such as the low or no
generation of toxic wastes, thereby mitigating the need for waste
management and minimization systems and making it a preferred choice
over its substitutes. The vast usage of physical vapor deposition
technology in the production of low emissivity or low-e glass, which
finds extensive demand across several applications in construction
and automotive industries, is also expected to emerge as a key growth
driver of the global PVD market in the next few years.
Patent-protected
Technologies Limit Growth Opportunities for New Players
Most key aspects of the PVD industry, such as coating materials, PVD
chambers, PVD targets, and PVD process kits are protected through
patents owned by key market players. These patents have restricted
the entry of new players as well as further expansion of smaller
players in the global PVD market in the past few years. PVD
technology also requires high investment at the initial stages and
the PVD technology used by various end users is customized for
specific applications. Most notable vendors in the market do not
serve every application as the need for new products and technologies
to serve an increased set of application areas becomes a
capital-intensive task due to patent protected technologies.
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Furthermore, differentiating manufacturing processes and developing
new products requires high investment in the field of research and
development. The scenario makes sustenance a big challenge for
smaller vendors and is expected to hamper to growth of global
physical vapor deposition market in the next few years.
This review of the market is based on a recent market research report
published by Transparency Market Research, titled “Physical
Vapor Deposition Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2016 - 2024.”
For
the study, the global PVD market has been segmented as follows:
PVD
Market Analysis
- PVD Equipment
- PVD Materials
- PVD Services
PVD
Market: Application Analysis
- Microelectronics
- Storage
- Solar
- Medical Equipment
- Cutting Tools
- Others
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