(MENAFN- Ameliorate Digital Consultancy)
As per report, the vacuum coating equipment market revenue from the Physical Vapor Deposition (PVD) application segment will exceed $7 billion by 2028. PVD (Physical Vapor Disposition) is becoming a widely adopted vacuum coating process, owing to its corrosion resistance and durability attributes.
In developing countries, the sales of luxury vehicles are projected to increase. Mercedes-Benz India, for example, forecasted the sales of its top-of-the-line vehicles such as AMG, GLS, S-Class, and GLS Maybach to expand by 20% in 2022. Luxury wheel manufacturers utilize PVD coating as a finishing process since it is harder and corrosion-resistant than alternative processes like electroplating.
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Vacuum or thin-film coating technology is gaining significant traction for a variety of applications, such as solar panels, semiconductors, and optical lenses. The demand for vacuum coating equipment is therefore expected to surge, given the rapid digital transformation and the burgeoning sales of electronic devices.
Based on data from Inverted, smartphone shipments crossed 150 million units, while the shipments of 5G smartphones reached more than 4 million in India in 2020. Also, imports of electronic products totaled $50 billion in 2020, with exports reaching $950.17 million in May 2021. Since thin film deposition is used as a unique fabrication process in the manufacturing of semiconductors, the persistent rise in electronic shipments could favor vacuum coating equipment market expansion.
Apart from the semiconductor industry, there has been a growing acceptance of vacuum film coating processes in automobile and other industrial sectors.
Rapid emergence of solar as a clean electricity source
Solar energy is gradually starting to emerge as a major energy source to meet the decarbonization targets and is expected to reach its full potential over the years ahead. According to the International Energy Agency, solar panels are anticipated to provide nearly one-third of the electricity globally by 2050.
Furthermore, solar will likely account for over 45% of the electricity supply in the U.S. by 2050 through cost reductions, large-scale electrification, and supportive policies, as per the U.S. Department of Energy SETO (Solar Energy Technologies Office) and the NREL (National Renewable Energy Laboratory). Factors such as these are contributing to the development of the vacuum coating equipment market for solar panel applications.
Increase in military expenditure in the U.S. and other countries
Optics are common in the military sector due to the deployment of vision systems, guidance systems utilized in unmanned and manned aircraft, and target designators. These optical systems are usually in variable temperatures and humidity and are in contact with abrasive materials like sand and salt. The use of coatings deposited by reactive magnetron sputtering and other methods of deposition is thus becoming a definitive requirement.
Thin films play myriad roles in the military sector, from protecting critical equipment against wear, oxidation and corrosion, to enhancing the reflection or transmission in certain wavelengths, to providing fire resistance and more.
According to data from the Stockholm International Peace Research Institute, global military spending rose by 0.7% to reach $2,113 billion in 2021. The five largest contributors were the U.S., China, India, the UK, and Russia, accounting for nearly 62% of expenditure. In this scenario, the demand for vacuum coating equipment is slated to rise considerably, particularly given the increasing expenditure on defense technologies.
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Partial Chapter of the Table of Content
Chapter 1 Methodology and Scope
1.2 Base estimations and working
1.2.1 North America
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculations
1.3.1 COVID-19 impact calculations on industry landscape
1.4 Data sources
Chapter 2 Executive Summary
2.1 Vacuum coating equipment market 360° synopsis, 2018 – 2028
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Vacuum Coating Equipment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 – 2028
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.3 COVID-19 impact on industry value chain
3.4 Technology landscape
3.5 Vacuum coating equipment market impact forces
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