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The UV physical vapor deposition (PVD) coatings market size is estimated to grow at a CAGR of 6.01% between 2022 and 2027. The size of the market is forecast to increase by USD 195.77 million. The growth of the market depends on several factors, including increasing demand for tool coating, growing use of solar products, and the growing automotive industry.
This UV physical vapor deposition (PVD) coatings market research report extensively covers market segmentation by application (automotive, appliances and hardware, packaging materials, and others), type (UV basecoat, UV topcoat, and UV midcoat), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for tool coating is notably driving UV physical vapor deposition (PVD) coatings market growth. The increasing demand for more durable tools, resistance to wear and tear, and better performance characteristics are driving the demand for UV PVD coatings. These coatings offer several advantages, such as increased hardness, improved wear resistance, improved adhesion, and improved corrosion resistance, making them an ideal choice for many applications.
The largest end-user of these coatings is the automotive sector. They are used to improve the durability and performance of engine components, gears, bearings, and other critical parts. Similarly, the demand for UV PVD coatings in the aerospace industry is continuously growing. PVD coatings in the aerospace industry are used to improve the performance of aircraft components, such as turbine blades, compressor blades, and landing gear. Therefore, a rise in the demand for coated tools for multiple industries, such as automotive, consumer electronics, and aerospace, is expected to fuel the growth of the global UV physical vapor deposition coatings market during the forecast period.
The growing interest in environment-friendly coating processes is the key trend in the market. Technology for PVD coatings is environmentally friendly. Compared to other coating processes such as electroplating and painting, the PVD coating process does not generate hazardous waste. In addition, PVD-coated products last longer and reduce the risk of waste generation, helping to protect the environment.
Environmentally friendly materials are used, such as titanium nitride (TiN) and chromium nitride (CrN). This material may be utilized to improve the decorative and wear-resistant look of corrosion-resistant electroplating. As a consequence, this deposition performs admirably while offering no environmental problems. The global UV physical vapor deposition coatings market will expand over the forecast period as a result of rising concerns about environmentally friendly coating processes such as thin film deposition.
The high maintenance cost of PVD machines is the major challenge impeding the UV physical vapor deposition coatings market. The high cost of PVD machine installation and upkeep may serve as a significant impediment to the expansion of the worldwide UV physical vapor deposition (PVD) coatings market. PVD machines are expensive to purchase, install, and maintain, and they require skilled technicians to operate and service them. It can also be expensive to purchase the raw materials needed for the PVD process, such as metal targets.
In the PVD process, some operations take place in a vacuum and at higher temperatures. In order to accomplish the intended results, a technically competent team is required. Installation of cooling water systems is required to handle the considerable heat loads caused by the high temperature. Thus, the increased cost of this technology will limit the adoption of the global UV physical vapor deposition (PVD) coatings market during the forecast period.
Key UV PVD Coatings Market Customer Landscape
The UV PVD coatings market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global UV PVD Coatings Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the UV physical vapor deposition coatings market.
Vergason Technology Inc. - This company focuses on developing and offering PVD technologies, services, and equipment for vacuum metalizing, PVD coating, and EMI shielding. The company offers UV PVD coatings such as wear-resistant PVD coatings, and SuperChrome.
The UV physical vapor deposition coatings market research report also includes detailed analyses of the competitive landscape of the market and information about 10 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The UV physical vapor deposition coatings market share growth of the automotive segment will be significant during the forecast period. The automotive segment is an important part of the global UV physical vapor deposition (PVD) coatings market. UV PVD coatings are widely used in the automotive industry to improve the aesthetic appearance and durability of automotive parts and to protect them from environmental factors such as UV rays and acid rain.
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The automotive segment was valued at USD 322.12 million in 2017 and continued to grow until 2021. UV PVD coatings are used in various parts of the car, including wheels, bumpers, interior trim, and exterior body parts. UV PVD coatings provide a glossy and scratch-resistant finish, as well as improved corrosion and wear resistance. The demand for UV PVD coatings in the automotive industry is driven by the increasing production of cars and the growing demand for electric and autonomous vehicles.
The appliance and hardware sector is a crucial player in the global UV PVD coatings market. UV PVD coatings are extensively utilized in this industry to enhance the durability and appearance of a range of products, including electronic devices, hardware tools, and kitchen appliances. These coatings are specifically employed in the appliance industry to improve the durability and appearance of refrigerators, microwaves, and ovens, which are regularly exposed to chemicals and moisture that can cause corrosion. By creating a barrier that prevents these elements from damaging the surface, UV PVD coatings protect the appliance. Moreover, these coatings are non-porous, preventing dirt and grime from penetrating the surface, making it easier to clean and maintain. Additionally, UV PVD coatings provide a hard and wear-resistant surface that can withstand the heavy wear and tear of everyday use. Tools such as cutting tools, drill bits, and saw blades can benefit from these coatings, which provide durability and resistance to corrosion.
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APAC is estimated to contribute 49% to the growth of the global UV physical vapor deposition coatings market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing demand from a variety of industries, including electronics, automotive, aerospace, and medical, is likely to cause the PVD equipment market in APAC to expand quickly. The growth of the PVD equipment market in APAC is driven by factors such as the growing demand for electronic devices, expansion of the automotive industry, increase in investment in the aerospace industry, and growing demand for medical devices. Such developments are expected to drive the growth of the PVD equipment market in the region during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted the UV physical vapor deposition (PVD) coatings market in APAC. However, the increasing demand for electronic devices, such as smartphones, laptops, and other consumer electronics, as well as the expansion of the automotive and aerospace industries in the region, is increasing the demand for UV PVD coatings. Furthermore, the increasing demand for metal vapors chromium, titanium, and aluminum is expected to fuel the growth of the global UV PVD coatings market during the forecast period.
The UV PVD coatings market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
UV PVD Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.01% |
Market growth 2023-2027 |
USD 195.77 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
5.57 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alta Creation LLP, BERLAC GROUP, Cross PVD, FUJIKURA KASEI CO. LTD., HEF, IHI Corp., KOLZER SRL, OC Oerlikon Corp. AG, Vergason Technology Inc., voestalpine AG, and Zhejiang UVCHEM Special Coatings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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