The vacuum coating market is projected to register substantial growth by 2027 owing to its extensive applications across varied industry verticals across the globe.
Vacuum coating technology, also known as thin film technology, finds widespread applications across multiple industry segments for purposes like packaging foils for freshness preservation in the food industry, protective films for anti-corrosion, solar cell production, decorative coating over bathroom fittings, and jewelry, among others.
Furthermore, industry players are employing strategic initiatives to strengthen their foothold in the developing market, which has positively impacted business growth. For instance, in January 2021, ULVAC Inc., a leading vacuum technology provider, launched its uGmni Series cluster system, which combines etch modules and deposition. The product allows customers to equip several different process modules, such as CVD, sputter, and etch, among others, on the same transfer core in the production of advanced electronics.
The vacuum coating equipment market has been segmented based on application, technology, and region. With respect to technology, the market has further been divided into chemical vapor deposition (CVD), physical vapor deposition (excluding sputtering), and sputtering.
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The physical vapor deposition segment has been classified into evaporation and others (pulsated laser, arc laser, etc.). The evaporation segment is projected to showcase considerable expansion over the study timeline owing to optimistic growth of the semiconductor industry. The others physical vapor deposition segment is anticipated to expand at a CAGR of around 5% over the estimated timeframe.
Under sputtering, the market has been categorized into reactive sputtering, magnetron sputtering (RF magnetron sputtering and others (pulsed DC, HIPIMS, DC, etc.)), and others (RF diode, ion beam, etc.).
The magnetron sputtering segment is speculated to expand at a steady pace over 2021-2027 driven by favorable trends associated with the manufacturing and electronics sectors. The RF magnetron sputtering segment is set to grow at over 5.6% CAGR through the assessment period. The others magnetron sputtering segment is foreseen to surpass a valuation of USD 6,000 million by 2027.
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The reactive sputtering segment is slated to amass notable gains by 2027 on account of surging demand for dielectrics, resistors, and semiconductors. The others sputtering segment is expected to account for above 5% share in the market by 2027.
With respect to application, the market has been bifurcated into CVD application, PVD application, and sputtering application. Under PVD application, the market has further been segregated into medical equipment, microelectronics, cutting tools, storage, solar, and others. The storage segment is anticipated to register lucrative growth over the analysis period due to escalating storage requirements as well as rising popularity of SSDs.
The medical equipment segment is speculated to exhibit sturdy expansion through the stipulated timeline owing to increasing investments towards the healthcare sector. Moreover, technological developments would boost the demand for medical equipment, which is likely to augment segmental expansion over the next few years.
The others PVD application segment is slated to progress at a solid CAGR over the projected period. Other PVD applications include aerospace parts, automotive components, packaging, and so forth. Booming automotive production, along with technology advancements, is set to sustain segmental growth in the future.
Under sputtering application, the market has been segmented into magnetic films, gas sensors, metallizing for microelectronic circuits and chip carriers, corrosion-resistant films, electrical resistance films, opto storage devices, and others. The metallizing for microelectronic circuits and chip carriers segment is foreseen to showcase a strong growth trajectory through the forecast period attributable to favorable trends associated with semiconductor and microelectronics industries.
The electrical resistance films segment is slated to expand at more than 5.5% CAGR over the study period. The magnetic films segment is expected to attain a valuation of above USD 780 million by 2027. The gas sensors segment is anticipated to gain significant traction over the review period owing to mounting demand for gas sensing technologies across a wide range of industries. The others sputtering application segment is set to grow at CAGR of approximately 3.0% over the assessment period.
Under CVD application, the market has been divided into polymerization, integrated circuits (ICs) & photovoltaic devices, and metal-organic frameworks (gas storage, adsorption, storage & purification, gas sensing & low k-dielectrics, catalysis, and others), and others. The integrated circuits (ICs) & photovoltaic devices segment is estimated to see substantial revenue growth through 2027. Increasing popularity of sustainable technologies would propel the demand for solar cells, which is set to impel segmental development over the following years.
The metal-organic frameworks segment is foreseen to expand at a robust pace through the review timeline. Rising demand for chemical vapor deposition for liquid separation & purification applications is estimated to boost segmental expansion over the forthcoming years. The others CVD application segment is slated to showcase robust growth, registering a CAGR of more than 3.0% over the forecast period.
On the regional spectrum, the Europe vacuum coating equipment market is anticipated to observe considerable growth over the projected period due to growing government expenditure towards the healthcare sector. Moreover, continuous R&D activities in the sector are likely to augment regional market growth in the future.
The Latin America vacuum coating equipment market is speculated to progress at nearly 3.5% CAGR over the assessment timeframe. The Middle East & Africa vacuum coating equipment market is slated to exceed a valuation of USD 950 million by the end of 2027.