ALBANY, New York, August 17, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Physical Vapor Deposition (PVD Equipment, PVD Services and PVD Materials) Market for Microelectronics, Data Storage, Solar Products, Medical Equipment, Cutting Tools, Architectural Glasses, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025." According to the report, the global Physical Vapor Deposition market was valued at US$ 16,410.9 Mn in 2016 and is projected to reach US$ 33,335.2 Mn by 2025 at a CAGR of 8.3% from 2017 to 2025.
The global physical vapor deposition market is expected to witness rapid growth during the forecast period owing to rise in demand for PVD in various applications such as microelectronics, data storage, solar products, medical equipment, cutting tools, architectural glasses, and others. Growing construction and automotive industries are anticipated to increase the demand for cutting tools which in turn boost the overall market for PVD during the forecast period. Increasing awareness regarding energy generation from renewable resources is likely to provide lucrative opportunity for solar industry. This, in turn, is likely to boost the demand for Physical vapor deposition.
In terms of category, PVD Equipment dominated the global PVD market in 2016, accounting for more than 50% of market share. The PVD Equipment segment is anticipated to continue its dominance during the forecast period. However, high costs associated with production, operation, and maintenance of PVD equipment is anticipated to increase the demand for PVD services during the forecast period. PVD Services segment is anticipated to grow at a CAGR of more than 8% during the forecast period.
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In terms of application, microelectronics was the largest segment of the global PVD market, accounting for more than 40% of the share in 2016. The segment is anticipated to continue its dominance during the forecast period. Rise in demand for technological advancements has led to increase in the microelectronics market, and thereby the PVD market. The cutting tools segment is expected to be the fastest growing application, expanding at a CAGR of 8.9% from 2017 to 2025. The solar products application segment is also estimated to witness the significant growth in the next few years owing to increasing initiatives toward use of sustainable energy sources.
In terms of demand, Asia Pacific constituted the largest share of the physical vapor deposition market accounting for 40% of the market share in 2016. The physical vapor deposition market in Asia Pacific is likely to be boosted by increasing demand for physical vapor deposition for the cutting tools and solar products application. Rise in demand for PVD and large profit margins have attracted a large number of PVD services provider in this region. North America was another leading consumer of physical vapor deposition accounting for more than 25% of the global market in 2016. The U.S. was the major consumers of PVD in North America in 2016. The physical vapor deposition market in Europe is also anticipated to grow at a significant CAGR during the forecast period. Growth of physical vapor deposition market is quite low in Latin America and Middle East & Africa as compared to other regions in 2016.
Key manufacturers of Physical Vapor Deposition Market are Platit AG, Mustang Vacuum Systems, Oerlikon Balzers, Veeco Instruments Inc., Applied Materials, Inc., ULVAC Inc., Semicore Equipment, Inc., HEF USA, Singulus Technologies AG, IHI Corporation, Silfex Inc. (Lam Research Corp.) and Buhler AG.
The report segments the global physical vapor deposition market as follows:
Physical Vapor Deposition Market: Category Analysis
- PVD Equipment
- PVD Services
- PVD Materials
Physical Vapor Deposition Market: Application Analysis
- Data Storage
- Solar Products
- Medical Equipment
- Cutting Tools
- Architectural Glasses
- Others (nuclear, etc.)
Physical Vapor Deposition Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
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