New York, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vacuum Coating Equipment Global Market Report 2022" - https://www.reportlinker.com/p06228514/?utm_source=GNW
, Izovac Ltd., IHI Corporation, PVD Products Inc., T-M Vacuum Products Inc., Lanzhou Vacuum Equipment Liability Co. Ltd., and HEF USA., Izovac Ltd., IHI Corporation, PVD Products Inc., T-M Vacuum Products Inc., Lanzhou Vacuum Equipment Liability Co. Ltd. and HEF USA.
The global vacuum coating equipment market is expected to grow from $27.75 billion in 2021 to $30.95 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $40.65 billion in 2026 at a CAGR of 7.1%.
The vacuum coating equipment market consists of sales of vacuum coating equipment by entities (organizations, sole traders, and partnerships) that include the application of vacuum technology, which entails a sub-atmospheric pressure environment and an atomic or molecular combustible vapor. Vacuum coating also referred to as thin-film deposition, is a vacuum chamber method that involves applying a very thin and consistent layer of coating to the surface of a substrate to safeguard it from forces that could wear it down or reduce its efficiency.
The main product types of vacuum coating equipment are physical vapor deposition (PVD), magnetron sputtering, and chemical vapor deposition (CVD).Physical vapor deposit, also known as thin-film coating, is a method in which a solid material is vaporized in a vacuum and placed on the surface of a part, allowing a solid material such as aluminum, a metallic oxide such as titanium oxide (TiOx), or a ceramic material such as titanium nitride to be applied to a surface (TiNx).
Vacuum coating equipment is used in various applications including electronics and panel display, optics and glass, automotive, tools, and hardware.
Asia Pacific was the largest region in the vacuum coating equipment market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing demand for electric vehicles is expected to drive the growth of the vacuum coating equipment market in the forecast period.Coatings play an important role in protecting the substrates of electric vehicles and their components from rust and damages.
The increasing popularity and demand for electric vehicles would lead to an increase in demand for vacuum coating equipment.For instance, according to Bloomberg New Energy Finance (BNEF), EVs are expected to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040.
Therefore, increasing demand for electric vehicles propels the growth of the vacuum coating equipment market.
Technological advancement is a key trend gaining popularity in the vacuum coating equipment market.Major companies operating in the vacuum coating equipment sector are focused on developing technological solutions for vacuum coating equipment to strengthen their position.
For instance, in May 2021, Singulus Technologies, a Germany-based manufacturing company partnered with China National Building Material Co., Ltd, a China-based building material company to develop New Vacuum Coating Machines based on CdTe Thin-Film Technology. SINGULUS TECHNOLOGIES and CNBM have agreed to collaborate on the development and delivery of new coating equipment to lower manufacturing costs, enhance cell performance, and boost output.
In October 2021, YES (Yield Engineering Systems, Inc.), a US-based producer of process equipment acquired Kanthal for an undisclosed amount. Through this acquisition, Kanthal’s high-temperature (>800°C) furnace expertise, as well as Low-Pressure Chemical Vapor Deposition (LPCVD) technologies, will be added to YES’s developing thermal processing capacity. Kanthal Corporation is a US-based company that produces vacuum coating equipment.
The countries covered in the vacuum coating equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06228514/?utm_source=GNW
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