The global physical vapor deposition (PVD) market is expected to reach 31.63 billion USD by 2024, according to a report by Grand View Research. Growth is predicted to be driven by an increase in demand for thin film coatings from microelectronics and solar panels.
In 2015, the total global market for PVD was about 14.41 billion. The largest segment was the microelectronics market, at $5.45 billion. The Asia and Pacific region was the largest, accounting for 45.4% of the global market. The report also found that the Middle East and Africa region was expected to see significant growth, a CAGR of 8.6% from 2016 to 2024. This growth is a result of greater demand in the healthcare industry, as well as microelectronics and data storage.
The need for sophisticated surface properties such as magnetic, catalytic, and electronic is helping to drive demand. Aesthetic properties are also playing an important role. Technological advancement is predicted to increase the number of end uses for PVD, further expanding demand. You can find the full report at Report Buyer.
You can also learn more about PVD here: 4 Things to Know about PVD.
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