SAN FRANCISCO, Dec. 3, 2019 /PRNewswire/ -- The global physical vapor deposition on plastics market is anticipated to reach USD 10.33 billion by 2025, according to a new report by Grand View Research, Inc. Developments in medical equipment and solar product application are projected to impact demand positively. Physical vapor deposition (PVD) on plastic improves the properties such as surface finish, and chemical & wear resistance in various end-use plastic products, thus improving their performance and reducing the overall maintenance cost.
Key suggestions from the report:
- The physical vapor deposition on plastics market was valued at USD 6.79 billion in 2018 and is expected to grow at a CAGR of 6.2% from 2019 to 2025
- Medical equipment occupied the largest revenue share on account of its higher price and increasing demand due to increasing chronic diseases and rising old age.
- Solar products emerged as the fastest growing application segment globally as it is a step towards reducing carbon footprint of the countries form power generation sector
- Rising demand for environment-friendly and energy saving power generation equipment & solutions is expected to drive this market
- The medical equipment accounted for 26.61% of the global market in 2018 and is projected to grow at the second highest CAGR over forecast period
- Increasing investment from government & private institutions in the solar power generation sector is projected to contribute to the demand for these physical vapor deposition on plastic products
- Key players include Applied Materials, Inc., Advanced Energy Industries Inc., IHI HAUZER B.V., Oerlikon Balzers, and Intevac, Inc.
Read 97 page research report with ToC on "Physical Vapor Deposition On Plastics Market Size, Share and Trend Analysis Report, by Application (Microelectronics, Data Storage, Solar Product, Medical), And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/physical-vapor-deposition-plastics-market
Favorable government regulations and initiatives to strengthen the manufacturing industry, such as the provisions for subsidy, increasing foreign investments and trade promotion are projected to augment PVD on plastic product demand over the forecast period. Some of the initiatives are Belt and Road initiative in China, Make in India initiative by the Indian government, and Buy American Hire American initiative in the U.S, etc.
Physical vapor deposition on plastics market is expected to be driven by the rapidly growing automotive and solar products industries, especially in the developing countries, and the rising application of PVD on plastics in various industries. Physical vapor deposition (PVD) on plastics is characterized by widespread applications including enhanced surface finish and impact absorption on account of the improved chemical & mechanical properties, light weight, and non-toxicity of the coatings.
Grand View Research has segmented the global physical vapor deposition on plastics market based on application and region:
- Physical Vapor Deposition On Plastics Application Outlook (Revenue, USD Million, 2014 - 2025)
- Data Storage
- Solar Products
- Medical Equipment
- Physical Vapor Deposition On Plastics Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Central and South America
- Middle East & Africa
- Saudi Arabia
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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