The global Sputtering Target market gathered revenue around USD 6.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5% during the prediction period 2021 to 2027.
The global sputtering target market is broadly affected by several factors, including increase in the adoption of sputtering target in solar panels.
sputtering target in coating solar cell, increase in demand for sputtering targets in the automobile industry, and surge in the demand from consumer electronics are expected to boost the global sputtering target market during the forecast period
Sputtering target is a new type of coating material (compared to evaporation materials) that is critical for thin-film solar cell coatings in the solar industry.
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A thin-film solar cell is a second-generation solar cell that is made by depositing one or more thin layers, or thin-film (TF) of photovoltaic material on a substrate, such as glass, plastic, or metal. Sputtering targets are important source materials in the deposition process. CdTe (cadmium telluride) sputtering target, CIGS (copper indium gallium diselenide) sputtering target, and silicon sputtering target are used in the solar cell thin-film coating.
According to SEIA (Solar Energy Industries Association) in the U.S., in the last decade alone, solar has experienced an average annual growth rate of 43%. Presently, more than 97 gigawatts (GW) of solar capacity is present due to strong federal policies such as the Solar Investment Tax Credit, rapidly declining costs, and increasing demand across the private and public sector for clean electricity. This, in turn, is boosting the adoption of sputtering target in coating solar cells.
|Market Size||USD 6.0 Billion by 2027|
|Growth Rate||CAGR of 5% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||by Application, Type, by Material, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Honeywell International, Inc., Heraeus Holding GmbH, Hitachi Metals, JX Nippon Mining & Metals Corporation, Kamis Incorporated, Konfoong Materials International Co., Ltd., Buhler Leybold Optics, Matsurf Technologies Inc., Mitsubishi Corporation, Praxair International, Inc., Sumitomo Chemicals Co., Ltd., Testbourne Ltd., Tosoh Corporation, ULVAC, Inc., and Vacuum Engineering and Materials Co.|
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Sputtering Target Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Sputtering Target market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The report includes thorough compilation of the quantitative analysis of the industry for the period of 7 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the global Sputtering Target market.
Highlights of the Report:
In-depth analysis of various insights, namely, Sputtering Target Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Sputtering Target Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Sputtering Target market are included as given below:
Some of the prominent players in the Sputtering Target Market include: Honeywell International, Inc., Heraeus Holding GmbH, Hitachi Metals, JX Nippon Mining & Metals Corporation, Kamis Incorporated, Konfoong Materials International Co., Ltd., Buhler Leybold Optics, Matsurf Technologies Inc., Mitsubishi Corporation, Praxair International, Inc., Sumitomo Chemicals Co., Ltd., Testbourne Ltd., Tosoh Corporation, ULVAC, Inc., and Vacuum Engineering and Materials Co.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Sputtering Target Market: Segmentation
Sputtering Target Market, by Application
- Optical Disk
- All Other Materials
- Solar Cells
- All Other Materials
- Hard Coatings
- All Other Materials
- Flat Panel Displays
- All Other Materials
- All Other Materials
- Optical Communications
- All Other Materials
Sputtering Target Market, by Type
- Single-pole Sputtering Target
- Multi-pole Sputtering Target
Sputtering Target Market, by Material
- Pure Metal Targets
- Alloy Targets
- Compound Targets
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
COVID-19 Impact on Sputtering Target Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Sputtering Target market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Sputtering Target market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments :
The expansion of various industries across India, China, Brazil, and other emerging countries will help the Sputtering Target market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the Sputtering Target market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the Sputtering Target market.
Key Points of the Global Sputtering Target Market Report:
The report provides a basic overview of the Sputtering Target industry including its definition, applications, and manufacturing technology.
The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value up to 2027 year along with the market shares for each company.
Through the statistical analysis, the study depicts the global market for Sputtering Target including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
The report then estimates the market development and trends of the Sputtering Target industry up to 2027.
The report hints at crucial information associated with new market developments being undertaken in the Sputtering Target industry before evaluating its feasibility.
Reasons to Purchase this Report:
- Estimates Sputtering Target development trends with SWOT analysis
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
- Market dynamics scenario, along with growth opportunities for players in the years to come
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Final Report will add the analysis of the impact of COVID-19 on this industry.
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