Physical Vapor Deposition (PVD) Market Update – September 2016
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.
Steven Nghe is currently the Head of Marketing & Communications at Kloeckner Metals. Nghe is a marketing professional with more than 14 years of experience in various environments and industries. His goal is to tell you about the sexy side of steel. Nghe holds a bachelor’s degree in Business Management with a concentration in Marketing from North Carolina State University. Prior to Kloeckner, Nghe worked for Delta Dental, Wells Real Estate Funds, Georgia Institute of Technology and Doosan.