The market for the physical vapor deposition coatings market is expected to register a CAGR of around 5%, during the forecast period. Demand from the Electronics sector is likely to drive the market during the forecast period.
- High competition from other technologies is likely to hinder the growth of the market.
- Asia-Pacific has dominated the market and is expected to continue dominating the market during the forecast period.
Key Market Trends
Electrical and Electronics industry to Dominate the Market
- PVD coatings are required in the electronics sector for application in microelectronics, storage devices, and semi-conductors.
- Application of PVD coatings offers improvement of substrate materials, which results in reduced wear and friction. It also provides mechanical properties, such as hardness, adhesion, mechanical, and fracture strength.
- Additionally, these coatings offer flexibility to coat substrate materials, which are heat sensitive, such as zinc and plastic. These coatings also offer superior wear, corrosion and chemical resistance, excellent adhesion, and provide a uniform coating.
- Additionally, rapidly increasing investments in the electronics sector are expected to boost the demand for PVD coatings from the industry.
Asia-Pacific to Dominate the Market
- In Asia-Pacific, China is the largest economy in terms of GDP. The economic growth in the country remains high due to the increasing interest of investors to invest in China.
- China is the largest market in terms of production and consumption of semiconductors in the Asia-Pacific region. China is becoming the prime location for investments in the production of mobiles, laptops, and other electrical appliances. Global major manufacturers invested a large capital in the Chinese market, in order to cope up with the upcoming demand surge in the future.
- China has one of the largest healthcare sectors across the world. In 2018, around CNY 82.6 billion (USD 11.95 billion) was invested in the Chinese healthcare sector which was 78.64% greater than the investment made in the previous year.
- Moreover, the country’s 13th Five-Year Plan prioritizes health and innovation, which is expected to increase investments in the medical device manufacturing sector during the forecast period.
- This, in turn, is expected to increase the production of high-tech medical devices to treat chronic and age-related diseases in the country.
- Furthermore, the electronics industry in India is mainly driven by macro-economic factors, such as growing middle-class families and the rising disposable incomes. In addition to this, high preference of high-end technological devices and the declining electronics prices are also fueling the demand.
- The Indian semiconductor industry offers high potential growth areas, as industries sourcing semiconductor in the country are witnessing high demand. India is considered to have a rapidly growing electronics system design manufacturing (ESDM) industry, thereby driving the market.
- Therefore, considering the aforementioned factors, the demand for PVD coatings is expected to increase moderately during the forecast period.
The physical vapor deposition coatings market is fragmented in nature. Some of the Mjaor players are PLATIT AG, IHI HAUZER B.V., KOLZER SRL, Oerlikon, and Richter Precision, Inc. among others.
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