PVD Equipment Market Size

PVD Equipment Market Analysis

The Physical Vapor Deposition (PVD) Equipment Market was valued at USD 19.35 billion in 2020 and is expected to reach USD 25.93 billion by 2026, at a CAGR of 8.9% over the forecast period of 2021 - 2026. The rise in the demand for medical devices and equipment, growing demand for microelectronics in several applications are some of the factors influencing the growth of the PVD equipment market while the need for high capital investment is expected to hinder the growth of the market during the forecast period.

• Physical vapor deposition (PVD) has become one of the most widely used technologies in the semiconductor industry, with companies increasingly investing in the adoption of these solutions. PVD offers a range of advantages over the substitutes, such as low-temperature operation, low complexity of the process, and environment-friendly nature of the solution. Hence, the companies in the end-user industry are willing to incorporate these systems to leverage technology.
• The increasing use of microelectronics in a range of devices (from consumer electronics to medical equipment) is one of the trends impacting the rise in demand, with the consumer electronics sector expected to play an essential role in the market. Owing to the documented health risks to workers and the impact on the environment from exposure to hexavalent chromium (a carcinogen that occurs during the chrome plating process and is the most toxic form of chromium), the players in the industry are turning toward PVD.
• The increasing need for a suitable replacement for hard chrome in the aerospace components has been a critical supply chain priority for aircraft manufacturers. In April 2019, according to sme.org, the aerospace industry was turning to adopt PVD coatings as the healthy, nonhazardous, and REACH-conforming alternatives to hard chrome. These instances support the fact that the PVD market is poised to grow over the forecast period.
• The restrictions on all the types of nonessential trade between multiple countries that have been put due to the spread of the coronavirus pandemic are contributing towards the declining sales of physical vapor deposition equipment. However, the demand for physical vapor deposition processes for the antimicrobial coatings has been gaining traction, primarily driving the growth of the physical vapor deposition equipment market.
• The social distancing measures that have been set up by governments and the suspension of all the nonessential international trade have created a substantial problem of cash flows during the initial months of the year. The countries that have been minimally impacted by the coronavirus pandemic are expected to become the key focus of the players currently that are seeking faster recovery from the COVID-19 slump.