According to the research report titled ‘Global PVD Coating Services market Size study with COVID Impact, by Types (Thermal Evaporation, Sputter, Deposition, Arc Vapor Deposition) Downstream fields (Mechanical, Medical Device, Aerospace, Automobile, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global PVD coating services market was valued at USD 18.9 billion in 2019 and is expected to witness a CAGR of 6.1% during 2020-2027.
 

Rise in sales of medical equipment and increasing preference for physical vapor deposition (PVD) over other coating techniques are expected to drive global PVD coating services industry during the forecast period. According to Statista, medical device production across the globe was estimated to reach USD 786 billion in 2018. Moreover, hexavalent chromium used in electroplating has hazardous effects on environment, which is further shifting preference towards PVD coating.
 

Physical vapor deposition encapsulates several methods for vacuum deposition that can be used for making thin films and coatings. PVD is eco-friendly nature as compared to other chemical deposition methods, doesn’t involve hazardous material, and does not generate chemical waste or pollution; benefits which are contributing to global PVD coating services industry outlook.
 

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As per type, global PVD coating services industry is segmented into arc vapor deposition, thermal evaporation, and sputter deposition. With regards to downstream fields, the industry is bifurcated into medical device, mechanical, automobile, aerospace, and others.
 

From regional perspective, worldwide PVD coating services market is segmented into Asia Pacific, North America, Europe, Latin America, and rest of the world. Among these, Asia-Pacific market is expected to witness high growth rate during 2020-2027, due to fast-growing economies like China, India, and Southeast Asia.
 

Meanwhile, North America PVD coating services industry is also projected to accrue massive revenues by the year 2027, with the U.S. being major contributor. Cognizance about benefits of PVD coatings and rising popularity of these services are impelling the market share in North America. 
 

Major players operating in global PVD coating services industry include ASSAB Global, Sputtek Coatings Inc., PVD Coatings, Techmart Industrial Limited, Aurora Scientific Corp., Southern PVD Co. Ltd., Vergason Technology Inc., Coating Services Group, Tanury Industries Inc., Hauck Heat Treatment, Double Stone Steel, Master Finish Company, Richter Precision Inc., Advanced Coating Service (ACS), North Star Coating, Sutton Tools Pty. Lt.d, Oerlikon Balzers Coating AG, and DME Europe.