Wilmington, Delaware, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Global Sputtering Target Material Market size is estimated at a market valued of US$ 1.4 billion in 2023 and is predicted to rise at a substantial CAGR of 4.6% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
The sputtering target material market is driven by several key factors that contribute to its growth and demand. The increasing demand for electronic devices, such as smartphones, tablets, laptops, and wearable devices, is a significant driver for the sputtering target material market. Sputtering target materials are essential for depositing thin films in the fabrication of semiconductor devices, integrated circuits, and other electronic components.
Further, the evolution of display technologies, such as LCD (liquid crystal display), OLED (organic light-emitting diode), and flexible displays, has significantly fueled the demand for sputtering target materials. These materials are critical for depositing thin films used in the production of high-resolution displays with enhanced performance and efficiency.
- According to a deep-dive market assessment by RationalStat, the sputtering target material market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the sputtering target material market covers market sizes based on market value (US$/EUR Million) and volume (Units/Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the sputtering target material market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Sputtering Target Material Market: Segmental and Market Share Analysis
- Based on the Application, the semiconductor segment is expected to dominate the market as it is the most lucrative application for sputtering targets. Moreover, the increasing demand for advanced electronic devices, and consumer electronics drives the demand for sputtering target.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1.4 billion |
| Market Size Forecast | US$ 2.0 billion |
| Growth Rate | 4.6% |
| Dominant Segment | Semiconductor Segment |
| Leading Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the sputtering target material market include,
- In January 2021, Mitsubishi Corp. developed a new sputtering target (DIABLA) for blackening films and started mass production.
Some of the prominent players and suppliers operating and contributing significantly to the sputtering target material market growth include JX Nippon Mining & Metals Corporation, Praxair, Plansee SE, Mitsui Mining & Smelting, Hitachi Metals, Honeywell, Sumitomo Chemical, GRIKIN Advanced Material Co., Ltd., Fujian Acetron New Materials Co., Ltd, and FURAYA Metals Co., Ltd., among others.
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RationalStat has segmented the sputtering target material market based on type, application, and region
- Global Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Type
- Metal Target
- Alloy Target
- Ceramic Compound Target
- Global Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Application
- Semiconductor
- Solar Energy
- LCD Flat Panel Display
- Others
- Global Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Region
- North America Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Sputtering Target Material Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
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Key Questions Answered in the Sputtering Target Material Report:
- What will be the market value of the sputtering target material market by 2030?
- What is the market size of the sputtering target material market?
- What are the market drivers of the sputtering target material market?
- What are the key trends in the sputtering target material market?
- Which is the leading region in the sputtering target material market?
- What are the major companies operating in the sputtering target material market?
- What are the market shares by key segments in the sputtering target material market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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