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Physical Vapor Deposition Market to Hit $40.97 Billion by 2028; Incorporation of Advanced Digitization Techniques to Feed Market Growth

July 27, 2021 | Chemicals & Materials

The global physical vapor deposition market size is expected to showcase considerable growth by reaching USD 40.97 billion by 2028. Fortune Business Insights, in its report, titled “Physical Vapor Deposition (PVD) Market Size, Share & COVID-19 Impact Analysis, By Category (Equipment, Material, and Services), By Application (Data Storage, Microelectronics, Solar Products, Cutting Tools, Medical Equipment, and Others), and Regional Forecast, 2021-2028.”, observes that the market stood at USD 22.43 billion in 2020 and is projected to exhibit a CAGR of 8.2% between 2021 and 2028. Factors such as the growing demand for digitization across several industry verticals and the increasing investment in R&D activities by the companies are anticipated to boost the product’s demand globally.

Impact Coatings Secures Hyundai Order for Advanced Coating System for Fuel Cells

In June 2020, Impact Coatings, a leading industrial PVD coatings provider, announced that it secured an order from Hyundai Motor Company for its INLINE COATER system. This system will be extensively used to coat metal bipolar plates across fuel cells in the vehicles. The order is worth EUR 945,000 and is expected to brighten the market prospects of Impact in the forthcoming years. The increasing adoption of PVD surface coatings aids in maximizing durability and performance by producing advanced thin layers of ceramics and metals utilized across several industrial applications.  

To get a detailed report summary and research scope of this market, click here:


Growing Adoption of Digital Solutions to Spur Demand

Since the advent of digitization, several companies have witnessed wide business opportunities and significant productivity gains. Industrial sectors such as finance, media, healthcare, travel, and retail have leveraged the opportunities provided by digitization to improve customer relationships and build a resilient value chain. In addition to this, the Electronics System Design & Manufacturing (ESDM) industry is experiencing a paradigm shift as there has been a surge in demand for electronic components. Similarly, the adoption of PVD coatings in the automotive sector aids in improving the safety and aesthetic features of the vehicle. Therefore, due to these factors, the manufacturers adopt digital solutions and advanced technologies such as artificial intelligence (A.I.) to boost productivity. This will help in contributing to the global physical vapor deposition market growth during the forecast period. 

Increasing Investment in R&D Activities by Eminent Companies to Develop Advanced Product

The market is fragmented by the presence of major companies focusing on leveraging the opportunities due to the high demand for physical vapor deposition processes across various industrial applications. They are doing so by investing in R&D activities to develop advanced systems and further maintain their presence in the fiercely competitive global marketplace. The market further presents a lucrative opportunity to the new entrants to make their mark and gain a competitive edge over their rivals.

Industry Development:

  • February 2021 – Dynavac announced the expansion of its workforce and facility through the influx of significant investments. The company aims to strengthen its position across the space simulation and thin fil markets by catering to the growing consumer demand across the globe.

List of the Companies Profiled in the Global Market:

  • Advanced Energy Industries, Inc. (USA)

  • Intevac (USA)

  • Oerlikon Balzers (Switzerland)

  • Impact Coatings AB (Sweden)

  • AJA International, Inc. (USA)

  • Dynavac (USA)

  • Denton Vacuum (USA)

  • Angstrom Engineering, Inc. (Canada)

  • CHA Industries, Inc. (USA)

  • IHI HAUZER Techno Coating B V (The Netherlands)

  • The Kurt J Lesker Company (USA)

  • Other Key Players

Further Report Findings:

  • Asia Pacific stood at USD 10.25 billion in 2020 and is expected to hold the largest global physical vapor deposition market share in terms of revenue during the forecast period. This is attributable to the growing demand for medical equipment in countries such as South Korea and Japan. In addition to this, the high demand for decorative coatings in the region is anticipated to boost the demand for the product during the foreseeable future.

  • The market in North America is expected to experience exponential growth in the forthcoming years. This is ascribable to factors such as the presence of established microelectronic manufacturers in countries such as the United States that are focusing on the development and introduction of advanced physical vapor deposition processes between 2021 and 2028.

  • Based on the category, the PVD equipment segment held a market share of about 59.5% in 2020 and is expected to dominate during the foreseeable future. The segmental dominance is due to the several benefits of the physical vapor deposition equipment such as uniformity, thickness, adhesion, and reflectivity that leads to high demand worldwide.

Table of Segmentation:



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD Billion)


  By Category; By Application; and By Geography

By Category

  • Equipment

  • Material

  • Services

By Application

  • Data Storage

  • Microelectronics

  • Solar Products

  • Cutting Tools

  • Medical Equipment

  • Others  

By Geography

  • North America (By Category, By Application, By Country)

    • The U.S.

    • Canada

  • Europe (By Category, By Application, By Country)

    • Germany

    • UK

    • France

    • Italy

    • Rest of Europe

  • Asia Pacific (By Category, By Application, By Country)

    • China

    • India

    • Japan

    • South Korea

    • Rest of Asia Pacific

  • Latin America (By Category, By Application, By Country)

    • Brazil

    • Mexico

    • Rest of Latin America

  • The Middle East & Africa (By Category, By Application, By Country)

    • Middle East

    • Africa

Global Physical Vapor Deposition (PVD) Market
  • PDF
  • 2020
  • 2017-2019
  • 130


  • 4850

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