Vacuum coating equipment industry to accrue massive revenue via automotive applications over 2016-2024, APAC to be the major regional revenue driver
Vacuum Coating Equipment Market is expected to be favorably influenced by the rapid growth of the consumer electronics, power generation, automotive, and aviation sectors. The ability of vacuum coating equipment to provide an aesthetic appearance, durability, and scratch-resistance will stimulate its demand from the consumer electronics sector, which is predicted to register significant gains of 4% during the period from 2016 to 2024. The rapid growth of this market will impel vacuum coating equipment industry over the years to come.
This product is also used for PV cells coatings as it helps absorb sun rays effectively, thereby stimulating vacuum coating equipment market share from solar energy sector. According to Global Market Insights, Inc., “Vacuum Coating Equipment Industry revenue, which was estimated at USD 23 billion in 2015, is predicted to hit USD 47 billion by 2024.” With immense demand for vacuum coating technology such as PVD coatings across various sectors like microelectronics, cutting tools, solar, storage, medical equipment, etc., the industry is bound to witness a high surge over the years ahead. PVD coating is fast replacing traditional coating methods such as chromium plating, electroplating, and painting. The ban on chromium by many countries due to its carcinogenic nature along with surface imperfection & non-uniformity observed in painted and electroplated products has increased the consumer preference for PVD coatings.
Europe Vacuum Coating Equipment Market, by product, 2013-2024 (USD Million)
Taking into consideration the regional trends, North America vacuum coating equipment industry is forecast to experience a prominent expansion over the next few years. The growth can be attributed to high usage of the equipment across the solar energy sector. U.S. vacuum coating equipment market is foreseen to contribute to a major portion of the regional revenue.
APAC vacuum coating equipment market, which contributed over 50% of the revenue in 2015, is predicted to boost the overall industry growth in the future subject to rising energy requirement and the huge presence of key smartphone manufacturers in the region. LATAM vacuum coating equipment industry size is forecast to observe a massive surge over the coming seven years, driven by escalating equipment demand for metallizing chip carriers and microelectronic circuits.
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Germany is expected to make notable contributions toward Europe vacuum coating equipment industry share subject to the thriving automobile sector. Germany vacuum coating equipment market size was over USD 910 million in 2015, and is forecast to grow remarkably over the years to come.
CVD, PVD, and magnetron sputtering are the major products of vacuum coating equipment. PVD vacuum coating equipment market is expected to record a CAGR of 9% over the period of 2016-2024, driven by lower initial equipment costs along with the product properties such as an elongated shelf life, bright color, and aesthetic appeal. The ability of the product to handle complexities pertaining to varied shapes and will further boost its demand. PVD coatings are also used for engine parts such as gears, piston rings, train valves, and piston pins, which helps in reducing engine wear & tear and enhances its performance.
CVD vacuum coating equipment industry is expected to experience a huge surge over the span of few years, driven by thriving automotive sector creating a heavy need for effective metal coating. Ability of the equipment to provide a uniform coating layer is expected to enhance its popularity. Magnetron sputtering vacuum coating equipment market is projected to grow at a rate of 9% during the period from 2016 to 2024.
Buhler Group, Singulus Technologies AG, The BCI Blösch Group, OC Oerlikon, Scientific Vacuum Systems Limited, CVD Equipment Corporation, Kolzer SRL, Applied Materials Incorporation, IHI Corporation, ULVAC Technologies Incorporation, Semicore Equipment Incorporation, PVD Products Incorporation, AJA International, T-M Vacuum Products Incorporation, and The Miba Coating Group are the key players of vacuum coating equipment industry.
Author Name :Dhananjay Punekar
This entry was posted in Sustainable & Smart Technologies and tagged Corrosion-Resistant Films, Cutting Tools, CVD, Electrical Resistance Films, Gas Sensing, Gas Sensors, Global Vacuum Coating Equipment Market, Integrated Circuits, Low-K Dielectrics, Magnetic Films, Magnetron Sputtering, Medical Equipment, Metal-Organic Frameworks, Microelectronics, Opto Storage Devices, Photovoltaic Devices, Polymerization, PVD, Solar, Storage, Vacuum Coating Equipment Market, Vacuum Coating Equipment Market Growth, Vacuum Coating Equipment Market Size.