Pune, India, August, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global Vacuum Coating Machines Market Research Report.
Market Research Future’s (MRFR) latest study reveals that the global market for vacuum coating machines is set to cross the value of USD 27,557.0 million by 2023. The market will register an impressive CAGR during the forecast period (2018-2023).
The market is primarily driven by escalating automobile production, and electronics industry. Moreover, the technology has observed considerable growth in recent years due to its application in power generation industry such as solar energy. It is also used to coat solar panels with thin uniform black layer for attracting maximum solar rays possible. These diverse application sectors offer a healthy growth to the global market.
The vacuum coating technology is largely used in microelectronics application. This process is gradually replacing traditional methods which are electroplating, and painting. PVD coating, in particular, has come up as an alternative to chrome plating. Hence, increasing adoption and awareness with reference to this technology is expected to bolster the vacuum coating machines market during the review period.
Global Market for Vacuum Coating Machines – Segmental Analysis
MRFR’s report offers a detailed segmental analysis of the market on the basis of type, application, and region.
By type, the market is segmented into Physical Vapor Deposition (PVD) Coating Machines and Chemical Vapor Deposition (CVD) Coating Machines. Chemical vapor deposition is used to corrosion-resistant coatings, obtain wear-resistant coatings and heat-resistant coatings. It is also used for the production of high-purity powder and fabricating ceramic and metal matrix composite materials. These benefits have led to the dominance of CVD segment in the global market for vacuum coating machines.
By application, the market is segmented on the basis of electronic, automotive, optics and glass, packaging, and others. Electronics is the major application segment of the vacuum coating machine market, expanding at a CAGR of 6.47% during the forecast period. It is sub-segmented into microelectronics and optoelectronics. In the microelectronics industry, vacuum deposition equipment is used for wafer processing in the semiconductor industry, and for coating applications in the LED (light emitting diodes) manufacturing process. Furthermore, the surging demand for microelectronics in a number of application areas such as the automotive industry has resulted in the phenomenal market performance.
Based on region, the market has been segmented into Europe, North America, Asia-Pacific and Rest of the World.
Among all regions, Asia Pacific led the global vacuum coating machine market in 2017 with 42.9% share. At present, the region is projected to be the fastest growing market during the review period. Increasing industrial activities and growing number of end-use industries in emerging economies such as China, India, and South Korea is predicted to propel the demand for vacuum coating machine in the future. In addition, thriving electronics and semiconductor industries also have a positive effect on the growth of the market. In the region, China is the major contributor to the market. In conclusion, the region is predicted to witness the highest CAGR of 6.69% and maintain its top position in the market throughout the appraisal period.
Similar strides are being made in Europe, with surging demand for applications such as metalizing for microelectronic circuits and chip carriers and metal-organic frameworks in the region. This factor contributes to the vacuum coating equipment market growth.
North America is expected to claim a healthy share in the vacuum coating equipment market. The United States (U.S) is the biggest investor in renewable energy production. Hence, the demand for solar applications in the region will present massive growth opportunities, portraying bright prospects for market in the forecast timeframe.
Tetra Technologies, Inc., (U.S.), BP P.L.C. (U.K.), Statoil ASA (Norway), DNV GL (Norway), TechnipFMC PLC (U.K.), AF Gruppen ASA (Norway), Ramboll Group A/S (Denmark), and Aker Solutions ASA (Norway) are some of the key companies operating in the market. Amec Foster Wheeler (U.K.), John Wood Group Plc. (Scotland), Claxton Engineering Services (U.K.), Allseas group SA (Switzerland), and DeepOcean Group (Netherlands) among others.