China's PV Market Set for Explosive Growth, Driven by Tech Giants
Beijing, Wednesday, 13 November 2024.
China’s physical vapor deposition market is projected to reach $1.1 billion by 2030, growing at 8.4% annually from 2025. This surge, led by companies like Advanced Energy Industries and Applied Materials, is fueled by increasing demand in medical equipment, solar products, and data storage sectors.
Strong Growth in PVD Market
The Chinese physical vapor deposition (PVD) market is poised to achieve remarkable growth over the next six years, driven by a compound annual growth rate (CAGR) of 8.4% from 2025 to 2030. The market, which is expected to reach USD 1.1 billion by 2030, is buoyed by significant contributions from industry leaders such as Advanced Energy Industries (NASDAQ: AEIS) and Applied Materials (NASDAQ: AMAT)[1]. This expansion is closely linked to a burgeoning demand for advanced coatings in various sectors, including medical equipment, solar technology, and data storage.
Key Market Drivers
Much of the anticipated growth in China’s PVD market is attributed to the rising need for high-performance coatings, particularly in the microelectronics segment, which remains the largest application sector. The sputter deposition technique, accounting for 47.3% of market revenue in 2024, plays a crucial role across the electronics, automotive, and aerospace industries. Additionally, the arc vapor deposition segment is projected to grow at a CAGR of 9.0%, driven by its effectiveness in producing hard, wear-resistant coatings[1].
Impact on Global Technology Markets
As China continues to dominate the PVD landscape, the implications for global technology markets are profound. The semiconductor and electronics segments, which led market dominance in 2024, are expected to benefit from increased demand for advanced microelectronics, including integrated circuits and memory devices. This trend aligns with the broader global push towards technological innovation and sustainability[1][2].
Future Prospects
Looking ahead, the expansion of China’s PVD market is set to enhance the country’s role as a leader in the global technology sector. As the demand for coatings in medical equipment and solar products continues to rise, companies like Advanced Energy Industries and Applied Materials are well-positioned to capitalize on these opportunities. With ongoing advancements and investments in technology, the market outlook remains robust, promising sustained growth and innovation through 2030 and beyond[1].