Report Code : A04401
A boost in demand for thin film PVD coatings from end-users such as medical, automotive and electronics sectors are likely to offer new growth opportunities to players operating in the market. Surge in the adoption of solar energy is likely to boost the consumption of solar panels based on thin film deposition technology such as in CIGS-based solar cells. Furthermore, developments in the electron beam physical vapor deposition systems to enhance the coating performance and efficiency will provide momentum for future market growth.
Eswara Prasad
Manager, Material & Chemicals at Allied Market Research
According to a new report published by Allied Market Research, titled, "Electron Beam Vapor Deposition Coating Market by Source, Application and end user: Global Opportunity Analysis and Industry Forecast, 2020-2027,"
The global electron beam physical vapor deposition coating market was valued at $1.8 billion in 2019, and is projected to reach $2.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.
Electron beam physical vapor deposition (EB-PVD) coating is a thin film coating produced by the evaporated coating material deposited on the substrate under vacuum. The resulting film is only a micron level thick; thereby, not compromising the original properties of substrate along with enhancing its thermal, electrical, and corrosion resistance. Furthermore, increase in healthcare expenditure by countries around the world and rise in investments in the electronics and semiconductor markets are the major drivers presently driving the global EB-PVD coatings market. Access to better healthcare facilities and health insurance will lead to increase in demand for medical devices and equipment. Moreover, thermal barrier coatings for automotive and power turbine applications using EB-PVD technology has the potential to further accelerate the growth of the market.
The global electron beam physical vapor deposition coating market is segmented on the basis of source, application, and end users. On the basis of source, the market is divided into single and multiple. In 2019, the multiple EB-PVD coating segment was the highest contributor to the market with $1.2 billion and is estimated to reach $1.7 billion by 2027, at a CAGR of 5.1% during the forecast period. On the basis of application, the market is segmented into thermal barrier coatings, anticorrosive coatings, and others. Thermal barrier coatings segment was the highest contributor in 2019, with $1.1 billion and a CAGR of 5.5%. The end users of EB-PVD coating are automotive, medical, electrical & electronics, power, optical, and others. The automotive segment was the highest contributor in 2019 with $0.4 billion and is estimated to reach $0.7 billion by 2027, at a CAGR of 5.5%. The medical segment is projected to be the fastest growing segment, with a CAGR of 8.1%.
Impact Of Covid-19 On The Global Electron Beam Physical Vapor Deposition Vapor Coating Market
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Electron Beam Physical Vapor Deposition Coating Market by Source (Single and Multiple), and Application (Thermal Barrier Coatings, Anticorrosive coating, and Others), and End user (Automotive, Medical, Electrical & Electronics, Power, Optical, and Others): Opportunity Analysis and Industry Forecast, 2020–2027
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