Physical Vapor Deposition Market Size

Physical Vapor Deposition Market size was valued at USD 21.8 billion in 2023 and is anticipated to reach USD 45.1 billion by the end of 2036, expanding at around 6.7% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of physical vapor deposition is estimated at USD 44.1 billion.

Physical vapor deposition (PVD) techniques are used to apply thin films and coatings to enhance product durability, performance, and aesthetic appeal. The physical vapor deposition market is primarily driven by technological advancements, rising demand for advanced materials, and precision manufacturing. Innovations such as advanced sputtering and evaporation techniques enhance the quality and uniformity of coatings. For instance, magnetron sputtering is a physical vapor deposition process that offers a wide deposition range, high deposition speed, easy control, large coating area, and strong film adhesion. These advantages have driven the adoption of magnetron sputtering in the manufacturing of lithium batteries.

Additionally, there is a growing consumer preference for eco-friendly products, including those with sustainable coatings. In contrast to alternative coating techniques, PVD coatings are more environmentally friendly as they typically use fewer hazardous chemicals and produce less waste. For instance, titanium nitride (TiN) is an environmentally safe technology as it does not generate toxic byproducts.