Physical Vapor Deposition Market Average Price By Player, 2022 - 2030

Increasing demand for thin-film coating in decorative applications and end-user industries such as microelectronics is expected to augment the demand for Physical Vapor Deposition (PVD). The COVID-19 pandemic resulted in lockdown restrictions leading to more remote work. This created a spike in demand for electronics such as mobiles, laptops, and desktops prompting companies to manufacture more microchips, which positively affected the market growth. 

The rising prevalence of coronavirus coupled with the increasing government spending on healthcare is expected to boost medical device production. PVD coatings are increasingly used as a decorative coating in medical equipment and also because of their biocompatibility. The aforementioned factors are expected to increase the demand for physical vapor deposition over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global physical vapor deposition market

The microelectronics industry is highly profitable and competitive, having been on an upward climb for many years. Moreover, emerging markets, including quantum computing, artificial intelligence (AI), and advanced wireless networks, are anticipated to further drive the demand for semiconductors, thereby having a positive impact on the PVD market over the forecast period.

The rapid adoption of solar power in increasing the renewable energy capacity has increased the demand for solar panels globally. Physical vapor deposition coating for solar cells makes them more corrosion-resistant and increases their durability. The use of physical vapor deposition coating is also suitable for next-generation perovskite-crystalline silicon cell manufacturing which is likely to boost the market growth.

Electroplating, a traditional method used for coating, which is also a cheaper alternative as compared to physical vapor deposition, is being replaced by the latter. Moreover, superior quality, development in advanced technology, cost reduction, and environment-friendly nature of physical vapor deposition leads to a higher opportunity of advancement over electroplating resulting in a low threat of substitutes.

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