Physical vapor deposition (PVD) is a collection of processes involving the deposition of materials in thin layers by utilizing high temperature vacuum deposition methods. PVD processes are eco-friendly and utilize physical processes such as that of sputtering or heating for producing vapors of materials. These are then deposited on the objects requiring coating. PVD is amongst the most preferred technologies for presenting a wear-resistant and hard coating on surgical instruments and medical devices. The PVD technology is gaining popularity over conventional methods such as painting and electroplating owing to the enhanced corrosion and abrasion resistance, hardness, environment friendliness, and impact strength of PVD.
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Increasing Utilization of PVD in Medical Equipment to Fuel Market Growth
The global physical vapor deposition (PVD) market is fuelled by the increasing environmental advantages and high-efficiency of PVD as compared to the conventionally utilized techniques. In addition, the increasing popularity of microelectronics will further augment the growth of the market. The growing utilization of PVD in coating applications such as semiconductors, LEDs, and storage devices will also positively impact the development of the PVD market. Furthermore, PVD’s increasing utilization in medical equipment is a key opportunity seen in the market. On the other hand, the patent protection technology involving huge investment may impede the growth of the market in the coming years.
PVD Equipment led Market with a share of 65% in 2012
On the basis of industry, the market is segmented into PVD materials, PVD equipment, and PVD services. PVD equipment is further segmented into heating, vacuum, coating, and condensation equipment. On the other hand, PVD materials comprise a number of raw materials such as nitrogen, titanium, and aluminum. Of these, on the basis of revenue, PVD equipment led the market in 2012 with a share of 65%. This segment is also predicted to grow exponentially in the coming years. On the other hand, the development in the end-use industries such as solar and microelectronics is predicted to stimulate the demand for PVD services. Thus, this segment is poised to emerge as the most swiftly developing segment in the forecast horizon.
Microelectronics Application Segment Dominated with a Share of 45.7% in 2012
The PVD technology is primarily utilized in microelectronics, solar applications, storage, cutting tools, medical equipment, and others such as flexible packaging, and optics. Amongst these, the PVD technology was majorly utilized in microelectronics in 2012. Thus, the microelectronics application segment led the market with a share of 45.7% in 2012 on the basis of revenue. On the other hand, the segment of medical equipment is poised to experience the swiftest growth rate in the coming years.
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Asia Pacific PVD Market Constituted Largest Share in 2012
Geographically, the PVD market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Of these, the Asia Pacific PVD market held the largest share in 2012 and is anticipated to rise at a 9.50% CAGR from 2013 to 2019. North America trailed Asia Pacific and constituted the second-largest share in the market in the same year. This is owing to the rising count of end-use companies within this region. On the other hand, Europe represented a share of 19.0% in the market in 2012, while RoW comprising the Middle East, Latin America, and Africa held the smallesr share in this market in the same year.
AJA International, ULVAC Technologies, Hauzer Coating Technology, and Semicore Equipment, among others, are the key players operating in this market