Physical Vapor Deposition Market Growth Accelerated by Increased Adoption in Microelectronics

 

Physical vapor deposition (PVD) is a vacuum-based process that deposits thin films of material onto a substrate through vacuum condensation. PVD coatings are used for optical coatings, decorative coatings, hard wear-resistant coatings, and thin-film coatings for microelectronics. PVD coatings provide characteristics like wear and corrosion resistance, hardness, optical properties, electrical conductivity, and aesthetic appearance. The growing demand for miniaturization and the need for long-lasting reliability of microelectronic devices has increased the adoption of PVD in the microelectronics industry for deposition of thin films. The global Physical Vapor Deposition Market is estimated to be valued at US$ 18.09 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased adoption of PVD in the microelectronics industry is one of the key market trends driving the physical vapor deposition market growth. PVD enables the deposition of thin conductive and insulative films with atomic-level thickness control which is crucial for the manufacture of modern microelectronic devices. The rising demand for smaller, powerful, and energy-efficient consumer electronics has increased the need for miniaturization of semiconductors and microchips. PVD provides a solution for depositing thin layers of materials like aluminum, titanium, gold, and copper during the fabrication of microelectronic devices and integrated circuits. This has significantly boosted the demand for PVD systems and technology in the microelectronics manufacturing sector.

Segment Analysis
The global physical vapor deposition market is dominated by the microelectronics segment due to rising demand for PVD coatings in semiconductor manufacturing. The microelectronics segment accounted for over 40% market share in 2023 owing to the extensive use of PVD coatings for depositing thin films on wafers, integrated circuits (IC) and other microelectronic components. The PVD process enhances conductivity, improves solderability and corrosion resistance of electronic circuits. The other major segments include automotive, solar, medical equipment and data storage which are also expected to witness significant growth during the forecast period.

Key Takeaways
The global physical vapor deposition market is expected to witness high growth.

Regional Analysis: Asia Pacific region currently dominates the market with over 35% share owing to huge manufacturing base of electronics and automotive industries in developing countries like China and India. North America and Europe are other major regions driven by presence of key players and technological advancements.

Key players operating in the physical vapor deposition market are Oerlikon Balzers (Oerlikon Group), IHI Corporation, Silfex Inc., Lam Research Corp, Singulus Technologies AG, Applied Materials, Inc., ULVAC Inc., Veeco Instruments Inc., Buhler AG, Semicore Equipment, Inc., and Platit AG. Oerlikon Balzers and Lam Research are the market leaders owing to their wide product portfolio and geographic presence across major regions.

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