The market for PACVD-based coatings is expected to grow at a CAGR of more than 4% during the forecast period. The major factor driving the market studied is the increasing medical sector.
- Growing demand for photovoltaic cells is likely to act as an opportunity.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Key Market Trends
Demand from Microelectronics Industry Continue to Grow Globally
- Microelectronics is the largest application sector in the industry and the demand is anticipated to grow further, enjoying the majority share.
- Application of this technology for coating components of electronic devices such as integrated circuits, semiconductors, capacitors and resistors leads to enhanced product cycle.
- These characteristics of chemical vapor deposition coatings are expected to augment significant demand for this technology. Tremendous growing demand from microelectronics industry products such as mobiles, laptops, storage devices, semiconductors, solar panels, PV devices, and other electronic products has positively affected the growth of this vapor deposition technology market.
- PACVD utilizes plasma to enhance the chemical reaction rates of the precursors. The processing allows deposition at lower temperatures, which is often critical in the manufacture of semiconductors.
- The lower temperatures also allow for the deposition of organic coatings, such as plasma polymers, that have been used for nanoparticle surface functionalization.
- The aforementioned factors are likely to increase the demand for the market over the forecast period.
Asia-Pacific to Witness Strongest Growth Rate
- Asia Pacific is estimated to witness a tremendous growth rate over the assessment period in the PACVD-based coatings market.
- The largest revenue segment is microelectronics and the largest coating market base resides in China. Other major industries driving the regional market are the industrial sector, which includes manufacturing and energy & power industries.
- The well-established electronics manufacturing base in China, Japan, South Korea, and Taiwan shall provide a continuous demand for PACVD-based coatings. In the Asia-Pacific region, where environmental regulations are not strict, even there PACVD-based coatings are gaining popularity as governments become aware and more and more legal requirements surrounding coatings are implemented.
- Other countries that will drive the market are emerging nations such as India, Vietnam, Thailand, Malaysia, Indonesia, and the Philippines, which are witnessing rapid economic growth and offer a lucrative opportunity for CVD technology licensors.
- Growing economies, rapid urbanization, burgeoning electronic products manufacturing ecosphere are supporting the growth of the regional market in the Asia Pacific.
- all the above factors are increasing the demand for the PACVD-based coating market over the forecast period.
The pacvd-based coatings market is partially fragmented. Some of the major players include Adeka Corporation, Oerlikon Balzers, IHI Ionbond AG, Veeco Instruments, Inc., and AIXTRON, among others.
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