Vacuum Coating Equipment Market share to hit $47 billion by 2024

The research report "Vacuum Coating Equipment Market Size By Product (PVD, Magnetron Sputtering, CVD), By Application (PVD [Microelectronics, Storage, Solar, Medical Equipment, Cutting Tools], Magnetron Sputtering [Metallizing For Microelectronic Circuits And Chip Carriers, Electrical Resistance Films, Magnetic Films, Opto Storage Devices, Corrosion-Resistant Films, Gas Sensors], CVD [Integrated Circuits & Photovoltaic Devices, Polymerization, Metal-Organic Frameworks, Gas Sensing & Low-K Dielectrics]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024", by Global Market Insights, Inc. says Vacuum Coating Equipment Market size will cross USD 47 billion by 2024; impelled by advantages of decorative PVD coatings over electroplating in consumer goods industry.

The industry has recorded substantial growth in past few years with varied applications in electronics, power generation, automotive sector etc. It is commonly used in the electronics industry for integrated circuits, photovoltaic devices and microelectronics. Global consumer electronics market will record a CAGR of 4% till 2024.Industrial automation and manufacturing of high-end vehicles have increased adoption of integrated circuits in these fields. Escalating electrical & electronics industry will ramp up vacuum coating equipment market demand.

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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.

PVD coating accounted for significant share of around 39% in vacuum coating equipment market in 2015. It has an edge over traditional coating methods (electroplating and painting) of providing longer shelf life, bright colors, and scratch resistant surface to the product. It provides a coating to engine components that reduces friction and wear between the parts, resulting in better efficiency and performance of the engine.

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. Magnetron sputtering application will grow above 9% CAGR in global vacuum coating equipment market till 2024.

Asia Pacific contributes significantly in the market with nearly 50% share in revenue generation. Rapid industrialization has increased energy requirements of this region and boosted power generation industry significantly. Leading players of smartphone are foraying into manufacturing of premium smartphones category which requires luxurious external body display this in turn will stimulate vacuum coating equipment market demand.

Positive outlook of automobile market in Germany, makes Europe a significant region in global vacuum coating equipment market. The market revenues in Germany crossed USD 910 million 2015. Vacuum coating equipment market is consolidated with few major manufacturers mainly such as Buhler AG, PVD Products Inc, BCI Blösch group, Applied Materials Inc, Singulus Technologies AG, and Kolzer SRL.These equipment’s are cost-intensive, so most of the companies have their own extensive distribution network and sales offices across different regions. For instance, Buhler AG develops vacuum coating equipment and distributes through its own shipping and transportation services.

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