In 2015, Asia Pacific excluding Japan (APEJ) possessed the maximum share of 59.6% (in terms of volume) of the global sputter coatings market and is expected to dominate it over the forecast period, registering a CAGR of 4.4% between 2016 and 2026.
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In terms of consumption, Taiwan is a major consumer of sputter targets with a volume share of 35% and is expected to dominate the boost the demand during the forecast period. South Korea and China are other major consumers after Taiwan and it is expected that both countries will witness a healthy growth with collective incremental opportunity of USD 1.04 Billion over the forecast period.
In China, demand for sputter targets is expected to grow substantially owing to a rise in demand from the solar industry, glass industry, and electronics industry among others. After APEJ, Japan is the major consumer of sputter targets and is expected to register a CAGR of 4.4% over the forecast period.
The demand for sputter coatings in North America and Western Europe is growing due to a rise in demand for solar panels, architectural glass, and optics coating among others. Thus, North America and Western Europe is expected to register a CAGR of 3.7% and 3.2% respectively.
Some of the major players operating in the global sputter coatings market are Materion Corporation, ULVAC, Inc., JX Nippon Mining & Metal Corporation, Heraeus Holding, Honeywell International Inc., Umicore Group, Praxair S.T. Technology, Inc., Tosoh SMD, Inc., Soleras Advanced Coatings, China Rare Metal Material Co. Ltd., JIANGYIN ENTRET COATING TECHNOLOGY CO. LTD., and GRIKIN Advanced Materials Co. Ltd. Strategic collaborations to enhance their foothold in prominent countries and development of new sputtering methods are the important strategies adopted by key players.
The sputter coatings market is likely to secure a CAGR of 4.2% through 2032.
The sputter coatings market size is estimated to cross USD 8.72 Billion by 2032.
The sputter coatings market is likely to record a value of USD 5.54 Billion in 2022.
Asia Pacific excluding Japan (APEJ) region is likely to lead the sputter coatings market.
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