The global vapor deposition market is estimated to reach USD 63,686.70 million by the end of 2023 and is expected to grow at a robust CAGR of 7.03% during the forecast period. The global vapor deposition market is experiencing a steady growth due to stringent environmental regulations against the use of Cr6, increasing consumption of various electronic devices, equipment, and appliances across the globe, and surging demand for medical devices & equipment. It has been observed that the demand for various portable electronic devices, home appliances, tools, and equipment is increasing across the globe. In the coming years, this trend is likely to head north owing to rising standards of living and increasing disposable in emerging economic regions such as the Asia Pacific, the Middle East & Africa, and Latin America. Moreover, the medical sector, potential consumer in the global market, is adopting various new technologies to efficiently combat and prevent increasing prevalence of diseases and complex disorders. Furthermore, the hexavalent chromium (Cr6) has gone through stringent environmental regulations, which is limiting its use in electroplating, this is likely to inhibit the competition for vapor deposition technology.
CVD held the largest share of the market in 2017and is estimated to reach USD 33,876.50 million by the end of 2023. Yet, the PVD is projected to grow at the highest CAGR of 7.11% due to ease of the process and applicability at a lower temperature. By application, the microelectronics segment is accounted for 48.45% share of the market. Furthermore, the medical device & equipment is projected to be the fastest growing application segment over the forecast period 2017-2023. The electrical & electronic industry dominated the global market among other end-use industry segment in 2017 and is projected to reach USD 25,254.00 million by the end of 2023.
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MRFR in its report has offered a segmental analysis of the market based on process, application, end-use industry, and region.
On the basis of the process, the market is segmented into chemical vapor deposition (CVD) and physical vapor deposition (PVD). The CVD is further classified into low-pressure CVD, atmospheric pressure CVD, metalorganic, and plasma enhanced CVD (PECVD). The PVD is sub-segmented into cathodic arc deposition, electronic beam PVD, and sputter deposition.
By the application, the market is classified into microelectronics, cutting tool, medical devices & equipment, and decorative coatings.
Based on end-use industry, the market is segmented into electrical & electronics, automotive, aerospace, metal industry, medical, and others.
Regionally, the global vapor deposition market is spanned across Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The global vapor deposition market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
As per MRFR analysis, Asia Pacific region dominated the global market in 2017 and is projected to continue dominating the market during the forecast period. The region is projected to grow at the highest CAGR of 7.39% among other regions. Country wise, China is leading the regional market in terms of value and volume.
Asia Pacific market is followed by North America, which is estimated to reach USD 14,552.40 million, by the end of 2023.
Europe is another substantial regional in the market, which held 18.93% share of the market in 2017.
Market Research Future (MRFR) recognizes the following companies as the major participants in the global vapor deposition market that includes Oerlikon Balzers Coating AG, ULVAC Technologies, Inc., Applied Materials Inc., IHI Ionbond AG, ASM International N.V, JUSUNG ENGINEERING Co., Ltd., LAM RESEARCH CORPORATION, Kurt J. Lesker, Plasma-Therm LLC., and Aurora Scientific Corp.
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