Global Electron Beam Physical Vapor Deposition Coating Market is growing at a CAGR of 6.1%

Introduction

Electron beam physical vapor deposition creates a thin film coating from coating material that has evaporated and been deposited on a substrate under vacuum (EB-PVD). The substrate's original characteristics are not altered, and its thermal, electrical, and corrosion resistance are improved because the resulting film is only a few microns thick. Globally rising healthcare spending and investments in the semiconductor and electronics industries are the key factors currently propelling the market for EB-PVD coatings. As more people access better medical facilities and health insurance, the demand for medical equipment and devices will increase. Furthermore, the application of EB-PVD technology in thermal barrier coatings for automobile and power turbine applications has the potential to speed up market expansion even more. Increased investments in the electronics, automotive, and medical industries are anticipated to create new opportunities for growing the global electron beam physical vapor deposition (EB-PVD) coating market. The thin film coating of turbines for aerospace, automotive, and power generation applications is the primary application for PVD coatings based on electron beams. As global healthcare spending increases, so will medical equipment and devices demand.

Market Dynamics

The Rise in Healthcare Expenditure

Medical devices and biomedical implants are coated with EB-PVD coating systems to improve the biocompatibility of the substrate, achieve sterilization, and stop corrosion. Dental tools, orthopedic implants, pacemakers, and surgical instruments have their surface properties altered by thin film coating without affecting the substrate's characteristics or biomechanical functionality. According to the WHO, the number of older people will rise across several countries, including Saudi Arabia, China, and Brazil. Over-60s are the age group with the fastest growth rate in the area. Better healthcare facilities and improved lifestyles are the factors that have increased life expectancy. As a result, it is anticipated that demand for medical equipment and devices will rise during the forecast period—the WHO also reports an increase in global healthcare spending. Most countries are increasing the GDP share of healthcare spending to provide their citizens with better facilities.

Development Of Plasma Spray-Physical Vapor Deposition (PS-PVD)

EB-PVD coatings create thin films with anti-corrosion and substrate durability. Additionally, newly developed coatings are highly resilient to thermal shocks. The high investment cost and low deposition rate are two drawbacks, however. A hybrid of atmospheric plasma spraying (APS) and EB-PVD systems has been developed to overcome this limitation. With plasma-activated EB-PVD, also referred to as PS-PVD or plasma spray-physical vapor deposition (PS-PVD), coatings can be made at high deposition rates and over large surfaces. Manufacturers can change the process parameters and alter the coating microstructure with a shorter deposition time and cheaper coating cost. According to a 2018 paper, PS-PVD has recently attracted much interest because of its ability to produce a variety of specially designed coating microstructures and to satisfy present functional coating requirements.

Regional Analysis

Asia Pacific is the highest contributor to the global electron beam physical vapor deposition coating market and is anticipated to grow at a CAGR of 5.7% during the forecast period. The local demand for smartphones, tablets, network hardware, communication infrastructure, and medical devices is driving up the price of semiconductors in these countries. Additionally, the increased demand for automobiles like transport and passenger vehicles may present growth opportunities for the EB-PVD coatings market in these regions. Most of the remaining APAC region comprises major ASEAN nations like Singapore, Thailand, Malaysia, Indonesia, Singapore, and others. Malaysia, Indonesia, and Singapore are particularly significant to the electron beam PVD coatings market because of their well-established electronics industries. China has made significant investments to become a leader in developing semiconductor silicon chips, including DRAM, CPUs, and GPUs.

Europe is expected to grow at the fastest CAGR of 6.6% during the forecast period. The UK, Germany, France, Italy, Spain, and the rest of Europe are all included in the analysis of Europe's electron beam physical vapor deposition coating market. Germany is regarded as a leading hub for microelectronics research and production. One in three of the chips made in Europe is produced in Germany. Germany is now in a position to significantly contribute to the growth of the market for electron beam PVD coatings. The Society of Motor Manufacturers and Traders, one of the most important trade associations in the UK, asserts that the UK automotive industry generates more than £82 billion in annual revenue and contributes £18.6 billion to the country's economy. To create more than 70 vehicle models, more than 30 manufacturers in the UK collaborate with 2,500 component suppliers and some of the best engineers.

Key Highlights

• The global electron beam physical vapor deposition coating market was valued at USD 2.02 billion in 2022. It is projected to reach USD 3.44 billion by 2031, growing at a CAGR of 6.1% during the forecast period (2023–2031).
• Based on the source, the global electron beam physical vapor deposition coating market is bifurcated into single and multiple. The multiples segment is the highest contributor to the market and is anticipated to grow at a CAGR of 5.3% during the forecast period.
• Based on application, the global electron beam physical vapor deposition coating market is bifurcated into thermal barrier coatings, anti-corrosive coating, and others. The thermal barrier coatings segment owns the highest market share and is forecasted to grow at a CAGR of 5.5% during the forecast period.
• Based on end users, the global electron beam physical vapor deposition coating market is bifurcated into automotive, medical, electrical & electronics, power, optical, and others. The medical segment is the highest contributor to the market and is expected to grow at a CAGR of 7.1% during the forecast period.
• Asia Pacific is the highest contributor to the global electron beam physical vapor deposition coating market and is expected to grow at a CAGR of 5.7% during the forecast period.

Competitive Players

1. OC Oerlikon Corporation AG
2. Denton Vacuum LLC
3. IHI HAUSER Techno Coating B.V.
4. Impact Coatings AB
5. Kurt J. Lesker Company
6. Plasma Quest Limited
7. PLATIT AG
8. Richter Precision, Inc.
9. Sulzer Ltd.
10. Tokyo Electron Limited
11. Applied Materials, Inc.
12. Advanced Energy Industries, Inc.
13. Angstrom Engineering Inc

 

Recent Developments

• December 2022, In addition to announcing new products that will speed up chipmakers' development of the most cutting-edge process nodes in the market, Applied Materials will also discuss its most recent advancement in eBeam technology. We will also discuss how the eBeam market is expanding due to rising chip complexity.

• In May 2022, Oerlikon Metco expanded its online ordering platform to its European customers after the launch and customer adoption of its US-focused e-commerce site.

Segmentation

1. By Source
   
   1. Single
   2. Multiple
2. By Application
   1. Thermal Barrier Coatings
   2. Anticorrosive Coating
   3. Others
3. By End User
   1. Automotive
   2. Medical
   3. Electrical & Electronics
   4. Power
   5. Optical
   6. Others