Electron Beam Physical Vapor Deposition Coating Market registering at a CAGR of 5.9% from 2020-2027
Allied Market Research recently published a report, "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". According to the report, the global electron beam physical vapor deposition coating industry generated $1.8 billion, and is projected to garner $2.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.
Drivers, restraints, and opportunities:
Increase in healthcare expenditure and growth of the global electronics industry have boosted the the global electron beam physical vapor deposition coating market. However, availability of alternatives hampers the market. On the contrary, development of plasma spray-physical vapor deposition (PS-PVD) is expected to offer lucrative opportunities for the market players.
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The anticorrosive coating segment to manifest highest CAGR through 2027:
By application, the anticorrosive coating segment is expected to register the highest CAGR of 6.8% from 2020 to 2027. This is due to the use of EB-PVD coatings in medical and semiconductor applications. However, the thermal barrier coatings segment held the largest share in 2019, accounting for more than three-fifths of the global electron beam physical vapor deposition coating market, owing to increase in demand for efficient aero engines and power turbines operating at higher temperatures.
The global electron beam physical vapor deposition coating market is mainly driven by the automotive, medical, and electronics industries. Increase in global healthcare expenditure in an effort to provide better medical services, which in turn increase the demand for medical devices and equipment. Most of the economies around the world are increasing the share of GDP on healthcare services. Moreover, as the income increases, the expenditure on biomedical implants are likely to rise.
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The automotive segment held the largest share:
By end user, the automotive segment held the largest share in 2019, contributing to more than one-fourth of the global electron beam physical vapor deposition coating market. This is owing to surge in demand for thin-film coatings for fuel-efficient automobiles. However, the medical segment is expected to register the highest CAGR of 8.1% during the forecast period, due to the availability of better healthcare facilities as a result of increasing healthcare expenditure by the government.
Asia-Pacific, followed by North America, to portray fastest CAGR through 2027:
By region, the global electron beam physical vapor deposition coating market across Asia-Pacific, followed by North America, is projected to register the highest CAGR of 6.6% during the forecast period. Moreover, the region held the largest share in 2019, accounting for nearly half of the market, due to presence of leading end users of EB-PVD coatings such as Electronics, medical, and automotive.
Major market players
AMG Advanced Metallurgical Group N.V.
Applied Materials Inc.
Angstrom Engineering Inc.
Ferrotec Holdings Corporation
Denton Vacuum LLC
Polyteknik AS
Intlvac Thin Film Corporation
Semicore Equipment Inc.
PVD Products Inc.
Vaksis R&D and Engineering
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