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Vacuum Coating Equipment Market in Magnetron sputtering application to witness 9% CAGR till 2024

Author : Ronak Bora | Published Date : 2019-04-05 

Vacuum Coating Equipment Market in Magnetron sputtering segment is expected to witness significant growth during the forecast period. Magnetron sputtering has wide and diversified applications such as in gas sensors, corrosion-resistant films, magnetic films, metallizing for microelectronic circuits and chip carriers. Metallizing is an innovative technology replacing electroplating in electronics industry.  

Vacuum Coating Equipment Market in physical vapor deposition (PVD) segment is expected to expand at a growth rate close to 9% in the coming years. This technology requires semi-skilled operator for handling and has minimum initial cost in comparison with chemical vapor deposition technology.

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PVD coating is applied on engine parts such as valve train components, drive train components, piston pins, piston rings, and gears. In 2013, over 21 million units of commercial vehicles were manufactured and in 2016, manufacturing crossed 22.8 million units. Global passenger vehicles sales registered a growth of 7.2% between March 2015 to March 2016. Increasing adoption of this coating in automobile industry and other industrial applications will strengthen vacuum coating equipment market in future. It is specifically replacing chrome plating, as chromium is carcinogenic in nature and is getting ban in many regions. On the other hand, complex machinery requirements and the need for skilled operators etc. are some of the factors that will hinder growth PVD coating penetration.

The application spectrum of PVD coatings comprises microelectronics, cutting tools, medical equipment, solar power plants, and storage. Among these, the solar power plants are likely to exhibit a commendable demand for PVD vacuum coating equipment market on account of the rising initiatives both by the private and government entities to set up solar power plants, particularly across the developing countries such as India and China. In addition, the other PVD coating application segments such as microelectronics and storage are anticipated to witness moderate gains over the coming years.

Booming electronics & electrical industry offers promising growth prospects for chip carriers and microelectronic circuits in magnetron squirting during the forecast period. Magnets are employed in steel industry, speakers and other numerous industrial applications. The above-mentioned magnetron squirting end-users shall propel vacuum coating equipment market in the coming years.

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North America shall witness substantial growth in vacuum coating equipment market. U.S is a big investor in non-conventional energy sources development contributing almost 40% in overall industry share in 2016. Hence, solar applications demand is anticipated to increase in this region, which in turn, will accelerate product demand over the forecast period.

Europe, led by Germany, will also contribute massively toward global vacuum coating equipment market growth. MEA, which held 2.3% of the vacuum coating equipment industry share in 2015, will also depict swift gains over the coming seven years.

Asia Pacific vacuum coating equipment market accounted for 50% of the global industry landscape in 2015. The region is projected to witness substantial gains in the years ahead with the rapid industrialization and expanding consumer electronic industry in this region.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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