As per Future Market Insights, the sputtering targets market is anticipated to attain a value pool of US$ 5,800 million by 2023-end. Global demand for sputtering targets is expected to rise at a CAGR of 0.7% to US$ 6,200 Million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 5,800 million |
| Projected Market Value in 2033 | US$ 6,200 million |
| Growth Rate (2023 to 2033) | 0.7% CAGR |
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The sputtering targets market is witnessing significant growth due to several drivers, which are expected to shape the growth of the market in the coming years. Some of the prominent drivers for the sputtering targets market include:
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Europe is expected to be a prominent growth market for sputtering targets due to the expanding electronics industry, the growth of the solar energy sector, increasing demand for advanced materials, government support for renewable energy, and growing demand for energy-efficient technologies.
The demand for sputtering targets used in the production of electronic devices, solar panels, and energy-efficient technologies is expected to increase, driving the development of the sputtering targets market in Europe. The region's well-established infrastructure and technology base is expected to provide a conducive environment for the growth of the sputtering targets market.
The semiconductor and electronics industry is one of the most lucrative applications for sputtering targets. The increasing demand for advanced electronics devices, such as smartphones, laptops, and other consumer electronics, drives the demand for sputtering targets used in the production of semiconductors and other electronic components. The demand for sputtering targets in the production of flat-screen displays, particularly LCD and OLED displays is also expected to increase, providing a lucrative opportunity for the sputtering targets market.
Sputtering Targets are materials which are used for vapor deposition technique to get thin film on the substrate material. Substrate materials are objects to be get coated and they can be anything such as solar cells, semiconductor wafers, and optical components.
Whereas thin film formed on the substrate material improves mechanical properties of it and this achieved mechanical properties depends on used targeted material. To achieve desirable properties on the substrate material, sputtering targets should be manufactured with very well predefined condition and Ideal fabrication method.
Sputtering technique is carried out in enclosed vacuum chamber with filled plasma gas, cathode, and anode. Whereas cathode is used for producing plasma gas and also act as target material.
On the other hand this target material is bring into play for getting coating on substrate. When gas atoms become positive charged ions then they get adhered on the targeted material with high speed results in generation of vapor stream which forms a thin film on substrate material.
For getting uniformed thickness on substrate material it is very necessary that prior to the starting substrate material should be very clean. Apart from getting uniform thickness over the substrate material sputtering targets are used for getting high adhesive strength and improved mechanical properties.
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Sputtering technique which is used for vapor deposition is less costly as compared to other methods such as electroplating, galvanizing, and thermal spraying. This key factor supports for expecting growth of sputtering targets global market in forecast period.
With sputtering process being environment friendly process end use industries i.e. microelectronics and photovoltaics have shown inclination to use this process as much as possible which proportionally might take a peak growth in sputtering targets markets.
Demand from automotive electronics, consumer electronics and solar panels in turn will benefit the growth of sputtering targets manufacturers for their end customers involved in fabrication of components related to the end use industries.
Conversely, the issues related to thin film deposition on substrate material as well as soaring coatings because of high residual stress for complex shape has limited use of sputtering targets. Furthermore, alternatives for using sputtering targets like Thermal evaporation, EMI shielding process, and Laser cladding processes may prove to be a restraint on the growth of global sputtering targets market.
With manufacturing sector productivity rate and sales being hit by covid-19 pandemic, the sputtering targets market growth will also be retarded to a substantial extent in the current year. The recovery is expected to be witnessed post 4 to 6 financial quarters from the current year depending on the threshold of resumption in full scale production and investments in capital by the end use industries.
South East Asia is identified to be a major regional market consisting of electronic hubs in Mainland China, Taiwan, Japan and South Korea. India is being touted as an emerging market in the subsequent years. Apart from the region, Europe also holds a significant share with countries Western Europe contributing to the same. North America is projected to be a market of decent growth along with South East Asia and Europe.
Major companies who are key participants in the global Sputtering Targets market, identified across the world are:
Companies like Tosoh Corporation which are global leader in sputtering targets market anticipated to have a huge impact in forecast years following by Mitsui Mining and Smelting, Sino Santech Materials Technology Co., Ltd, Testbourne Ltd industries.
This research report involves historic, contemporary data about sputtering targets global market. This report evaluates all necessary information regarding sputtering targets global market by Region wise, Dynamics, Segmentation, and others. Also, this report maps key participants which may supports in sputtering targets global market for forecast years.
The global Sputtering Targets market can be segmented on the basis of types of material, application, shapes, Depending on processing technique, Thickness
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Sputtering Targets Market
