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:
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:
By Application segment of the Global Metal Sputtering Target Material Market is sub-segmented into:
By Region segment of the Global Metal Sputtering Target Material Market is sub-segmented into:
Global Metal Sputtering Target Material Market was valued at US$ 3,153.9 Mn in 2021.
Sputtering targets and evaporation material coatings are used to improve the properties of metal, semiconducting, and insulating targets in semiconductor components, displays, sensors, optics, and many other materials.
The sputtering target market is predicted to rise due to a surge in the integration of thin-film manufacturing technologies in the digital electronics and semiconductor sectors.
Global Metal Sputtering Target Material Market is projected to expand at a CAGR of 6.56% during the forecast period.
The growing impetus of the market is attributed to the increasing application of sputtering targets in many end-use industries.
The presence of impurities affects the performance of sputtering targets.
The various segmentations considered to analyze the global metal sputtering target material market are based on type, application, and region.
The pure metals segment dominates the market in 2021.
Flat panel display is the highest application segment in the Global Metal Sputtering Target Material Market.
Asia Pacific dominates the Global Metal Sputtering Target Material Market.
The key players in the Global Metal Sputtering Target Material Market are JX Nippon Mining and Metals Corporation, Praxair, Plansee SE, Sumitomo Chemical, and GRIKIN Advanced Material Co. Ltd. among others.