Increasing urbanization and support from the government in the construction sector are driving the demand for the market.
PVD Faucet Finishes Market Size – USD 11.14 Billion in 2019, Growth - CAGR of 7.2%, Trends – High demand from the hotel sector.
The Global PVD Faucet Finishes Market is projected to reach USD 19.51 billion in 2027. Growing expenditure on hotel community renovation and an increase in home construction is expected to boost demand for PVD faucet finishes. Another factor fueling the market growth is the rapid growth in urbanization.
PVD refers to a method of applying a finish to a faucet. This is superior to powder coating, deposition of atomic layers, and electroplating since PVD faucets have scratch resistance, wear tear resistance, and corrosion resistance and enhance life. In place of conventional electroplating processes, several manufacturing companies used this process.
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Top Companies: Kohler Co., Delta Faucet Company, Moen, Inc., American Faucets Coatings Corporation, Hansgrohe S.E., California Faucets, Inc., GROHE AG, Jomoo, Arrow, and Roca, among others.
Further Key Finding from the Report Suggestion:
- It is estimated that China, followed by the United States, is the largest market. The greatest demand for faucets was rendered both in terms of volume and revenue by the hotel industry in China. The industry was a major part of the total volume market.
- International multi-chain hotels expand into tier II and tier III cities in China to take advantage of the growth opportunities provided by the growing population of the middle class. In recent times this segment of society has pursued premium accommodation in the region.
- In the United States, the residential homes segment dominated the physical vapor deposition faucets market, which is expected to expand.
- In Germany, the market for physical vapor deposition faucets in the domestic sector is strong. The number of new residences is growing progressively as government support is rising, and finances are readily available.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global PVD Faucet Finishes Market is segmented into:
Product Color Outlook (Revenue: USD Billion; 2017-2027)
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Thermal Evaporation
Application Outlook (Revenue: USD Billion; 2017-2027)
- Hotel Use
- Home Use
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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