ACCESS Newswire
21 May 2020, 19:55 GMT+10
Physical vapor deposition market players concentrated in China must now concentrate on effective recovery strategies for paint and coating applications to tap into remunerative opportunities after the covid-19 crisis subsides.
ROCKVILLE, MD / ACCESSWIRE / May 21, 2020 / Restrictions on all types of non-essential trade between countries are contributing to the declining sales of physical vapor deposition amid the global COVID-19 pandemic. On the other hand, demand for physical vapor deposition processes for antimicrobial coatings are gaining traction, bolstering the growth of physical vapor deposition market. The market is projected to grow at a 6% CAGR during the forecast period 2020 - 2030, concludes a new Fact.MR (FACT.MR) report. Physical vapor deposition processes are gaining widespread popularity amid increasing focus on IoT enabled smart devices. Top players in the physical vapor deposition industry are investing in product innovation efforts in computers and smartphones, according to the report. According to Fact.MR's analysis, the global physical vapor deposition market is projected to expand over 1.8x over the forecast period.
'The current pandemic has resulted in lowered demand for paints and coatings in construction, automotive, and electronics. Recovery in the industry is largely dependent on the duration of transport and trade restrictions being imposed,' says the Fact.MR analyst.
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Key Takeaways of Physical Vapor Deposition Market Study
Physical Vapor Deposition Market - Key Growth Factors
Physical Vapor Deposition Market - Key Restraints
Explore the full physical vapor deposition market report with 179 illustrative figures, 96 data tables and table of contents. Request ToC of the study at
https://www.factmr.com/report/4685/physical-vapor-deposition-market
Impact of COVID-19 on Physical Vapor Deposition Market
With most countries either varying states of lockdown due to COVID-19, electronic, construction, and automotive paint and coating applications have been largely shut down. Consequently, physical vapor deposition processes witnessed a decline in sales during first half of 2020. On the other hand, select segments such as antimicrobial coatings are witnessing a surge in demand owing to application in food and medical equipment industries.
Social distancing measures set up by governments and suspension of non-essential international trade, will create substantial problems of cash flow during the initial months of 2020. Countries that are minimally impacted by the coronavirus will become the key focus of players seeking faster recovery from the covid-19 slump.
Competitive Landscape of Physical Vapor Deposition Market
Some of the major companies profiled in this FACT.MR report include, but are not limited to, HEF USA, Veeco Instruments, Singulus Technologies, Applied Materials Inc, Oerlikon Leybold Vacuum GmbH, and Mustang Vacuum Systems. Product innovation for materials with minimal friction coefficients are being prioritized by players in physical vapor deposition market. Players are also seeking avenues to meet customer expectations of lightweight, low carbon materials in automotive components and cutting tools.
More About the Report
This Fact.MR study of 170 pages provides all-inclusive insights on the global physical vapor deposition market. The market analysis is based on category (PVD equipment, PVD materials, and PVD services), and applications (microelectronics, data storage, solar products, cutting tools, medical equipment, and others) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).
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About Fact.MR
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, the global financial capital, and has delivery centers in the U.S. and India. Fact.MR's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR
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