PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629292
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629292
Sputtering Targets Market, By Material, By Application, By Technique, By Country, and By Region: Industry Analysis, Market Size, Market Share, and Forecast from 2024 to 2032
REPORT HIGHLIGHT
Sputtering Targets Market size was evaluated at USD 5,945.5 million in 2023, rising at a CAGR of 1.60% between 2024 and 2032.
The Sputtering Targets Market refers to the industry engaged in the manufacture and distribution of sputtering targets; it is materials used for sputtering in a thin film deposition process. Sputtering is the technique of physical vapor deposition in which atoms are ejected from the target material of a solid by energetic bombardment, generally with ions. These then deposit on a substrate, forming the thin film. This market comprises various types of materials such as metals, alloys, and compounds used for various applications in numerous industries including electronics, semiconductor, aerospace, and renewable energy based on the growing requirements of advanced coatings and functional material.
Sputtering Targets Market- Market Dynamics
Growth in Demand for Consumer Electronics
Consumer electronics demand is one of the key growth factors in the sputtering targets market as technology progresses, and there is a greater requirement for high-performance materials used in electronic component production. The use of smartphones, tablets, and laptops will necessitate thin films of metals and other materials in screen applications, semiconductors, and circuits, all of which are created utilizing sputtering targets during the physical vapor deposition process. Furthermore, technologies such as 5G technology, IoT, and wearables drive demand. More sophisticated sputtering material is required to produce compact and efficient goods. For instance, in 2023, the total number of smartphone users worldwide is expected to be around 5 billion, accounting for approximately 85% of the global population. As a result, demand for sputtering targets is expected to increase. This is because integrated circuits and thin-film transistors, which are used in electronic devices such as cellphones, laptop computers, and televisions, are mass-produced using sputtering targets.
Sputtering Targets Market- Key Insights
According to our research analyst, the global market is expected to increase at a CAGR of approximately 1.60% between 2024-2032.
Based on Material segmentation, The pure metal targets category had the highest income.
Based on Application segmentation, Electronics & Semiconductors is the fastest-growing segment in the sputtering targets market.
According to region, North America had the most revenue in 2023.
Sputtering Targets Market- Segmentation Analysis:
The Sputtering Targets Market is divided into four groups: Material, Application, Technique, and geography.
The market is segmented into five divisions based on the Material: Pure Metal Targets, Alloy Targets, Oxide Targets, Compound Targets, and Isotope Targets. The sputtering target market under the pure metal targets segment is expected to create the most revenue by the end of 2032. This expansion is expected to be affected by an increase in the usage of pure metal targets in various forms such as planar, circular, rectangular, and more for the sputter and evaporation processes. The increased manufacture of high-index films for infrared filters, ferromagnetic thin films, semiconducting films, photoconductive films, and lubricating films employing these targets also contributes to the segment's revenue growth.
The market is classified into six segments depending on the Application: Aerospace and Defense, Solar Cell Coating, Glass Coating, Solid oxide fuel cells, Electronics and Semiconductors, and Data Storage. The Electronics and Semiconductors segment is the fastest-growing segment in the sputtering targets market. The growth in this segment is mainly because of the fast pace of consumer electronics advancement, growing demand for high-performance semiconductors, and the proliferation of technologies such as 5G, IoT, and artificial intelligence. As electronic devices become increasingly complex and compact, the demand for high-quality sputtering targets for thin film deposition in semiconductors and other electronic components is rising substantially.
Sputtering Targets Market- Competitive Landscape:
Recent Developments:
SCOPE OF THE REPORT
This report's scope includes the following important market segments:
GLOBAL SPUTTERING TARGETS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
GLOBAL SPUTTERING TARGETS MARKET, BY MATERIAL- MARKET ANALYSIS, 2019 - 2032
GLOBAL SPUTTERING TARGETS MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
GLOBAL SPUTTERING TARGETS MARKET, BY TECHNIQUE- MARKET ANALYSIS, 2019 - 2032
GLOBAL SPUTTERING TARGETS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
Table of Contents
1. Sputtering Targets Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Sputtering Targets Market Snippet by Material
- 2.1.2. Sputtering Targets Market Snippet by Application
- 2.1.3. Sputtering Targets Market Snippet by Technique
- 2.1.4. Sputtering Targets Market Snippet by Country
- 2.1.5. Sputtering Targets Market Snippet by Region
3. Sputtering Targets Key Market Trends
4. Sputtering Targets Industry Study
5. Sputtering Targets Market: COVID-19 Impact Analysis
6. Sputtering Targets Market Landscape
7. Sputtering Targets Market - By Material
8. Sputtering Targets Market - By Application
9. Sputtering Targets Market - By Technique
10. Sputtering Targets Market- By Geography
11. Key Vendor Analysis- Sputtering Targets Industry
12. 360 Degree Analyst View
13. Appendix
