Global Metal Sputtering Target Material Market Report 2023: Demand from the Semiconductor Industry Bolsters Sector

DUBLIN, March 2, 2023 /PRNewswire/ -- The "Global Metal Sputtering Target Material Market, by Type, by Application, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

Global metal sputtering target material market is valued at $3153.9 million in 2021 and is projected to generate sales revenue of $5472.7 million by 2030 at a CAGR of 6.56% during the forecast period, 2022-2030.

As per the latest report, the global metal sputtering target market volume was pegged at 1,39,214 metric tons in 2021 and is projected to grow at a CAGR of 6.19% in the years to come.

From the last few years, there has been a growing demand for metal sputtering target material, as it is a fast and clean process for producing thin films. Metal sputtering also offers attractive options for synthesis of high-quality films with tailored properties. Wherein, Copper is one of the most commonly used metals for sputtering targets, due to its high electrical conductivity and ability to form very small defects. Materials used for sputtering can include plastics and other polymers, zinc, aluminum, magnesium, and tin.

Investments in metal sputtering technology are booming, as materials scientists and engineers explore new ways to produce fine, high-quality texture films and particles. One such material is nickel-titanium alloy (NiTi), which has exceptional mechanical properties and can be used to fabricate aircraft parts, among other applications.

In today's market, there are many factors driving demand for metal sputtering target material. Some of the key drivers of demand include the increasing popularity of 3D printing, the need for customized materials, and the demands of research and development. In addition to this, rapid expansion of the semiconductor and MEMS industries, the increasing popularity of nanoscience and nanotechnology research, and the increased importance of metal-air plasma deposition (MAPD) for production of thin films are driving the global metal sputtering target material market growth.

Market Dynamics of Global Sputtering Target Material Market
Drivers

• Ever-growing semiconductor industry is one of the main drivers of demand for metal sputtering targets. As of 2021, the global semiconductor market is valued at over $526.8 billion and is projected to grow at a CAGR of over 13.3% in the years to come. As a result, there is a high demand among semiconductor manufacturers for an ultra-pure, highly homogeneous film on their wafers, and sputtering is one of the most effective ways to achieve this. Wherein, metal sputtering targets are often used to create these films.
• Growing demand for metal sputtering target materials in solar cells and other energy applications. In order to be efficient, solar cells need to have a very smooth surface with few defects. Sputter deposition is an ideal way to create such a surface, and so metal sputter targets are in high demand for this application.
• The optical properties of thin films created by sputter deposition can be superior to those of thicker films deposited by other methods, making metal sputter targets increasingly attractive for optoelectronic applications such as light-emitting diodes (LEDs).

Restraints

Metal sputtering is a chemical vapor deposition process that uses metal atoms to create thin films and Nanostructures. Metal sputtering is an expensive technique and there are many factors that restrain the demand for metal sputtering.

The following are the top 5 factors that restrain the demand for metal sputtering target material market:

• High capital outlay requirements
• Specialty needs for different materials
• Technical limitations
• Cost of consumables
• Easily availability of counterfeit products supply

Segment Overview

Global metal sputtering target materials market is segmented by type, application, and region.

By Type

• Pure Metal
• Alloy

By type, pure metal segment is holding more than 50% share of the global metal sputtering target materials. Currently, there is a high demand for pure metal in metal sputtering target materials. Not only because of the increasing popularity of 3D printing and other manufacturing processes using metals, but also because metals are great sources of electrical and thermal conductivity. Moreover, the ever-growing demand for pure metal in metal sputtering target materials is driving manufacturers to develop new and improved production methods. Pure metals such as platinum, gold, and tungsten are essential for creating electronic and photonic devices, so manufacturers are constantly on the lookout for new sources of these elements.

By Application

• Semiconductor
• Solar Energy
• Flat Panel Display

By application, flat panel display is projected to generate revenue of more than $1.5 billion by 2025. As per our findings, the flat panel display (FPD) market is experiencing high demand for metal sputtering target materials. The market for FPDs is projected to attain a value of $269 billion by 2030, at a CAGR of 7.2%. Metal sputtering target materials are essential to the development of next-generation FPDs. These products help reduce reliance on silicon as the primary light-emitting diode material and provide performance benefits such as increased brightness and reliability.

By Region

By region, the market is categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Wherein, Asia Pacific is expected to continue dominating the global metal sputtering target market with market share of more than 45%. Our research also suggest that the region is expected to exhibit fastest growth at a CAGR of over 7% during the forecast period, 2022-2030. China is the top performer in this area, accounting for almost one-third of all target material produced.

The main drivers of this growth are likely to be increasing demand from the electronics and optoelectronics industries in China and Japan, as well as increasing demand from the aerospace and defense sectors in countries such as India and South Korea.

However, Asia Pacific's dominance is set to change in the near future as European countries are planning to ramp up their production.

Competitive Landscape

As per this market study, top 5 players are currently holding more than 60% market share. Smaller companies are entering the metal sputtering target materials market as the technology continues to evolve. By specializing in certain types of targets, these companies can capitalize on the growing interest in metal-based fabrication. Some of the smaller competitors are focusing on nanoscale targets, whereas others are catering to more traditional applications.

The biggest players in the metal sputtering target materials market are primarily large conglomerates that have a presence in many different industries. They are able to bring a wide range of resources and technologies to bear on their products, giving them an edge over their smaller competitors. This makes it challenging for small businesses to break into this market, which is why they are increasingly focusing on niche applications.

A selection of companies mentioned in this report includes

• Plansee SE
• Mitsui Mining & Smelting
• Hitachi Metals
• Honeywell
• Sumitomo Chemical
• ULVAC
• Materion (Heraeus)
• GRIKIN Advanced Material Co., Ltd.
• TOSOH
• Ningbo Jiangfeng
• Heesung
• Luvata
• Fujian Acetron New Materials Co., Ltd
• Changzhou Sujing Electronic Material
• Luoyang Sifon Electronic Materials
• FURAYA Metals Co., Ltd
• Advantec
• Angstrom Sciences
• Umicore Thin Film Products

For more information about this report visit https://www.researchandmarkets.com/r/w8m3io-metal?w=5

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