Increasing Demand for Microelectronics Drives Global PVD Market
The key drivers for the global physical vapor deposition market are the growing demand for microelectronics and the growing need for durable and safe protective coatings in the medical devices industry. Microelectronics are gaining consistent demand from the booming computers and defense industries, and the durability of coatings obtained by physical vapor deposition is the major driver for the demand for the latter in the manufacture of microelectronics. The microelectronics sector accounted for a whopping 45.7% of the revenue of the global physical vapor deposition market in 2012.
The increasing use of physical vapor deposition in the production of medical devices is another key driver for the global PVD industry. The global medical devices industry has been driven by the steady increase in government expenditure on upgradation efforts in the healthcare sector. Emerging economies have exhibited a growing demand for medical devices due to their expanding healthcare sectors. The hassle-free nature and environmental viability of physical vapor deposition are the key drivers for the global PVD market in the coming years.
PVD Equipment Leads Global Market by Type, APAC by Region
By product, the global physical vapor deposition market is divided into services, materials, and equipment. PVD equipment took up the largest share in the global physical vapor deposition market in 2012, with 65%. The increasing demand for relatively nascent application sectors such as microelectronics and solar energy has been the major driver for the global PVD equipment market in recent years.
By geography, Asia Pacific emerged as the largest market for physical vapor deposition in 2012. The increasing demand for physical vapor deposition from the medical devices and microelectronics industries in countries such as India and China is a major aspect of the growing Asia Pacific PVD market. The APAC physical vapor deposition market is expected to exhibit a strong 9.50% CAGR from 2013 to 2019.