The vital role of sputter targets in the preparation of integrated circuits for many industries such as aerospace & defense, automotive, wear resistance, electronics, and agriculture is creating a demand influx in the APAC sputter targets market. APAC sputter targets marketplace is proving to be lucrative, especially due to the abundant industrial scope. Furthermore, the Continuous development in the information technology is enabling the prominence of integration, especially in case of integrated circuits and smaller devices in circuits. In addition to this, the component size has transformed from millimeters to nanometers, which is highlighting the necessity of film coating in the internal composition of each unit. Thus, sputtering target is acting as the core material in the preparation of an integrated circuit. Tungsten (W), tungsten-titanium (WTi), titanium, tantalum (Ta), aluminum (Al), and copper (Cu) targets provide high target purity as required for the semiconductor coating.
Owing to its indispensable application in a gamut of industries, the APAC sputter targets market size stood at $147.7 million in 2018 and is estimated to grow at a CAGR of 5.2% during the forecast period 2019-2025, according to the APAC sputter targets market report.
The report evaluates sputter targets market size based on the sputtering method, material type, and application. Furthermore, it provides a detailed analysis of noticeable players and startups with their sputter targets market share in the APAC region.
Sputter Targets Market Driven by the Increased Demand for Electronic Products in APAC Region:
Electronics application of sputter targets market is set to grow at the fastest CAGR of 4.5% over the forecast period. Wide range application of sputtering targets is evident in semiconductors, electronic devices, solar cells, glass, tooling, and decoration fields. Sputter deposition is highly adopted in the production of semiconductors and computer chips to create hard-edged thin coatings for a variety of tools using alloys and ceramic targets. This growing adoption is increasing the sputter targets market size. NiCr, nickel-chromium (NiCrSi), chromium silicon (CrSi), tantalum, and nickel-chromium-aluminum (NiCrAl) targets are mostly used in the electronic device coating to manufacture thin-film resistors and film capacitors.
Prevalence of Sputter Target in Coating Applications:
A shift in the people’s living standards has led to the growth of the decorating coatings market, which is supporting the sputter targets market. This is because of the preference for these coatings to coat the surface of mobile phones, glasses, sanitary ware, hardware parts, and watches, as it beautifies the color of the substrate, and also provides improved functionalities such as wear-resistance and corrosion resistance for the same. Chromium (Cr), titanium (Ti), zirconium (Zr), nickel (Ni), tungsten, and titanium aluminum (TiAl) are the primary types of sputter targets increasing the demand for decorative coatings. Therefore, this application is acting as the growth promoter for the sputter targets market. Tooling coatings is one of the main applications of sputter targets as it is used to strengthen the surface of tools and molds involved in the manufacturing industry. This coating is efficient in enhancing the quality life of processed parts, tools, and molds.
In the current scenario, the growing necessity for energy conservation and CO2 emission reduction to improve people’s quality of life has been resulting in the increasing production of energy-saving glasses. Magnetron sputtering method is used to produce a multi-layer film on the glass with energy-saving, light control, and decoration functionalities. Most of the major glass deep-processing companies are focusing to increase the coated glass production line, and therefore, there is an increase in sputtering targets market demand. Silver (Ag) target, Cr, Ti, NiCr, zinc-tin (ZnSn), silicon-aluminum (SiAl), and titanium oxide (TixOy) are the chief targets used for glass coating. All the above-mentioned factors are driving the APAC sputter targets market demand.
Trends in APAC Sputter Targets Marketplace:
Solar Cell Coating: In this modern world, shrinkage in traditional fossil fuel energy has increased the focus on renewable energy. Solar energy has grabbed the entire focus of attention of the world, and this is because of the solar cells conversion of light energy into electrical energy. Thin-film solar cells are the third generation solar cells which prefer the novel coating material, “sputter targets”, for solar cells coating in the solar industry. It is important to note that the growth in the low-carbon economy providing an opportunity to deliver at least $26 trillion in economic benefits by 2030. Hence, the rise in the low-carbon economy worldwide has resulted in creating a significant number of opportunities for the development of new energy and new materials. The solar cell coating targets is identified as an important research and development product, thereby contributing to the growth of solar cell coatings at a rapid pace. Generally, zinc oxide aluminum (AZO), zinc oxide (ZnO), zinc-aluminum (ZnAl), molybdenum (Mo), cadmium sulfide (CdS), and copper indium gallium selenide ( CuInGaSe) targets are mainly used for solar cell coating. But, cadmium telluride, gallium arsenide, and copper indium gallium diselenide sputtering targets are particularly applied in the preparation of thin-film solar cells.
LED Market Growth: The rapid development in the LED industry is reflecting in the form of LED-backlit TVs and laptops. An LED semiconductor chip is one of the key functional components of LED. Presently, gold sputtering targets are applied in the manufacturing of these chips, specifically in the thin-film deposition. On the other hand, the growing usage of the LED lighting systems because of their energy efficiency and longevity in backlight, automotive, emergency, and indoor & outdoor applications are contributing to the growth of the LED lighting market. Thus, the growth in the LED industry is positively impacting the sputter targets revenue in the APAC region.
Major Players in the APAC Sputter Targets Market – Competitive Landscape:
Tosoh Corporation, Honeywell International Inc., JX Nippon Mining & Metals Corporation, Konfoong Materials International Co., Ltd (KFMI), Praxair, Inc., Sumitomo Chemical Co., Ltd., Plansee India High Performance Materials Pvt.Ltd., Kurt J. Lesker Company (KJLC), China New Metal Materials Technology Co., Ltd., and Baoji ChuangXin Metal Materials Co., Ltd. (CXMET) are the major players manufacturing sputter targets. These companies are focusing on implementing business strategies to mark their brand name by increasing their sputter targets market share for the same in the APAC region.
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