Metal Sputtering Target Material Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Sputtering targets and evaporation material coatings are used to improve the properties of metal, semiconducting, and insulating targets in semiconductor components, displays, sensors, data storage devices, photovoltaic cells, batteries, industrial tools, optics, automobile mirrors, decorative, and many other materials. 

Global Metal Sputtering Target Material Market is projected to make a forward leap in its revenue from US$ 3,153.9 Mn in 2021 to US$ 5,472.7 Mn by 2030. The market is registering a CAGR of 6.56% during the forecast period. In terms of volume, the market registers a CAGR of 6.19% over the projected period. Metal sputtering targets are usually made of highly pure metals and fundamental coating materials for other sputter deposition technology. Sputtering targets such as ultra-pure aluminum, copper, silver, and gold are common in modern industry.

The market is majorly driven by the growing application of sputtering targets. Sputtering targets come in a variety of shapes and sizes, including bespoke alloys, ceramic sputtering targets with a unique chemistry, and precious and non-precious metal sputtering targets. To achieve the desired features in sputtered thin films, the manufacturing procedure of precious metal reclamation materials is used to create the sputtering target. Further, sputtering target, in comparison to evaporation materials, is a relatively new type of coating material used in the solar industry for thin-film solar cell coatings. However, the presence of impurities affects the performance of sputtering targets. 

Report Summary

The study of the global metal sputtering target material market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the metal sputtering target material industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the Global Metal Sputtering Target Material Market across 11 Chapters and 177 pages. The report includes data presentation across 36 tables and 80 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of sellers and intensity of rivalry is high. 

The subsequent section provides details of the market analysis based on different segments such as type, application, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, metal sputtering target material manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the market for metal sputtering target material. 

Key Takeaways from the Global Metal Sputtering Target Material Market Report:

• Based on type, the pure metal segments hold the highest market share in 2021. Most of the metal sputtering targets are constructed of extremely pure metals. For various sputter deposition technologies, they are the most extensively utilized and fundamental coating materials. In today's business, ultrapure aluminum, copper, silver, and gold are frequent sputtering targets. However, the alloys segment is projected to record the highest CAGR over the projection period as alloys offer a wider range of industrial applications than pure metals. 
• In terms of application, the flat panel display segment dominates the metal sputtering target material market in 2021. The display panel and touch screen panel are primarily made by sputtering target coating. It is primarily employed in the production of ITO glass and touch screen electrodes. The most common sputtering target is indium tin oxide (ITO), which is followed by molybdenum, aluminum, silicon, and other metal targets. ITO glass is generated by sputtering and coating on a glass substrate multiple times during the manufacturing of a flat panel display. However, the solar energy segment holds the highest CAGR during the forecast period. 
• Asia Pacific is the highest shareholder region in the Global Metal Sputtering Target Material Market in 2021 and further registers the highest CAGR during the forecast period. In the near future, rising consumption of sputtering target products in semiconductor and digital electronics is predicted to enhance the regional market growth. Southeast 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. In terms of cumulative solar PV capacity, the Asia Pacific area has been the global leader. Rapid solar PV plant construction in developing nations like India and Vietnam is likely to aid the region's dominance in the metal sputtering target material market. 

Impact of COVID-19 on the Global Metal Sputtering Target Material Market

During the COVID-19 pandemic, manufacturing units and industries across various regions were halted because of lock-down, which further impacted the demand for metal sputtering target Materials. Since the demand decreased drastically, there was a heavy crisis in producing and distributing metal sputtering target material globally. Additionally, in countries in North America and the Asia Pacific, leading producers faced various challenges due to a significant drop in demand. Further, several plant implementations have gone on hold as there was a severe shortage of raw materials. Moreover, since metal sputtering target materials are used mostly in semiconductors, among others the manufacturers suffered a heavy loss due to a decrease in semiconductor production globally. However, when the lockdown in various regions of the planet is lifted, things are progressively improving.

Competitive Dashboard:

The key players in the global metal sputtering target material market are JX Nippon Mining and Metals Corporation, Praxair, Plansee SE, Mitsui Mining and Smelting, Mitsui Mining and Smelting, Honeywell, Sumitomo Chemical, and GRIKIN Advanced Material Co. Ltd. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

The following are the various segments of the Global Metal Sputtering Target Material Market: 

By Type segment of the Global Metal Sputtering Target Material Market is sub-segmented into:

• Pure Metal
•  Alloy

By Application segment of the Global Metal Sputtering Target Material Market is sub-segmented into: 

•  Semiconductor
• Solar Energy
•  Flat Panel Display

By Region segment of the Global Metal Sputtering Target Material Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland 
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America