Sputtering Targets And Evaporation Materials Market
Sputtering Targets & Evaporation Materials Market Forecasts to 2030 - Global Analysis By Product Type (Sputtering Targets and Evaporation Materials), Material (Metal, Ceramic, Alloy and Advanced Materials), Technology, Application and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $3.1 BN |
|
Projected Year Value (2030) |
US $4.3 BN |
|
CAGR (2024-2030) |
5.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Sputtering Targets & Evaporation Materials Market is accounted for $3.1 billion in 2024 and is expected to reach $4.3 billion by 2030 growing at a CAGR of 5.1% during the forecast period. A solid substance used in physical vapor deposition that is subjected to high-energy ion bombardment in a vacuum chamber is called a sputtering target. Atoms that have been dislodged from the target surface by the bombardment move and deposit onto a substrate to create thin films. One kind of vaporization that takes place on liquid surfaces is evaporation. Molecules close to the surface that acquire sufficient energy to overcome vapor pressure escape into the surrounding air as gas when liquid molecules collide and exchange energy.
According to Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was estimated at USD 3,436.8 billion in 2022.
Market Dynamics:
Driver:
Growing demand for electronics
The increasing demand for electronics is a key driver for the sputtering targets and evaporation materials market. With advancements in consumer electronics such as smartphones, tablets, and wearables, there is a rising need for high-performance materials that enhance device reliability and efficiency. The push for miniaturization and multifunctionality in electronics necessitates thin-film deposition processes using sputtering targets and evaporation materials. Additionally, the growth of semiconductor manufacturing and renewable energy technologies further boosts market demand.
Restraint:
Price volatility
The costs of technological development, complex manufacturing processes, and raw material procurement directly impact the end product's price. Fluctuating global supply-demand dynamics exacerbate this issue, making it challenging for manufacturers to maintain profitability. This cost variability restricts market growth by limiting accessibility for smaller players and increasing pressure on pricing strategies across the value chain.
Opportunity:
Strategic collaborations
Partnerships between manufacturers, research institutions, and technology providers facilitate innovation in material formulations and deposition techniques. These collaborations help address challenges such as cost efficiency, material purity, and sustainability. Moreover, joint ventures enable companies to expand their geographic reach and cater to emerging markets like Asia-Pacific, where demand for advanced electronics and renewable energy solutions is rapidly growing.
Threat:
Technological challenges
Technological challenges in achieving uniform thin-film deposition and optimizing material utilization threaten the growth of the sputtering targets and evaporation materials market. Issues such as low deposition efficiency, high wastage rates, and limitations in scaling up production hinder advancements in applications like semiconductors and solar panels. Additionally, rapid technological evolution requires continuous R&D investments to stay competitive. These challenges can delay adoption rates and limit market expansion if not addressed effectively.
Covid-19 Impact:
The COVID-19 pandemic disrupted global supply chains, causing delays in production and procurement of sputtering targets and evaporation materials. Lockdowns led to reduced workforce availability and halted manufacturing activities in key sectors like electronics. Additionally, restrictions on non-essential goods affected demand temporarily. However, the pandemic accelerated digitalization trends, increasing long-term demand for semiconductors and electronic devices. As industries adapted through remote operations and supply chain diversification, the market began recovering steadily post-pandemic.
The sputtering targets segment is expected to be the largest during the forecast period
The sputtering targets segment is expected to account for the largest market share during the forecast period due to its extensive use in thin-film deposition processes across industries like semiconductors, electronics, and solar energy. High-purity metal targets enable precise coatings critical for microchips, displays, and photovoltaic cells. The segment's growth is driven by increasing investments in advanced manufacturing technologies and rising demand for miniaturized electronic components. Sputtering targets' versatility in creating uniform films with superior properties ensures their leading position in the market.
The metal segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the metal segment is predicted to witness the highest growth rate owing to its widespread application in semiconductors, electronics, and renewable energy industries. Metals like aluminum, copper and gold are valued for their excellent conductivity, thermal stability, and ability to form homogeneous thin films. The growing adoption of advanced technologies such as 5G networks and solar panels further drives demand for metal-based sputtering targets. Innovations in material science also contribute to this segment's rapid growth.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to its dominance in semiconductor manufacturing and electronics production. Countries like China, Japan, South Korea, and Taiwan lead in technological advancements and R&D investments. The region's strong industrial base supports high-volume production of sputtering targets and evaporation materials used in consumer electronics, solar panels, and automotive applications. This robust ecosystem solidifies Asia Pacific's leadership position.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR due to increasing investments in renewable energy projects and semiconductor manufacturing facilities. Governments across countries like India are promoting domestic production through favorable policies under initiatives like ""Make in India."" Additionally, rising consumer demand for advanced electronic devices drives regional growth further. The combination of expanding infrastructure and strategic investments ensures Asia Pacific's rapid market expansion.
Key players in the market
Some of the key players in Sputtering Targets & Evaporation Materials Market include Materion Corporation, ULVAC, Inc., Plansee SE, Tosoh Corporation, Hitachi Metals Ltd., JX Nippon Mining & Metals Corporation, Praxair Surface Technologies, Honeywell International, Inc., Heraeus Holding GmbH, Kurt J. Lesker Company, SCI Engineered Materials, Konfoong Materials International Co., Ltd., Soleras Advanced Coatings, Nichia Corporation, Umicore, Treibachner Industrie AG, Furuya Metal Co., Ltd. and Grinm Advanced Materials Co., Ltd.
Key Developments:
In November 2024, Tosoh Corporation has unveiled its development of a gallium nitride (GaN) sputtering target, a new product being manufactured at Tosoh Specialty Materials Corporation, a subsidiary based in Yamagata City, Japan. GaN, a thin film semiconductor material, is widely used in applications like LED lighting and compact rapid chargers due to its lower energy loss compared to other materials. GaN thin films are gaining traction in energy-efficient power semiconductors, especially for data centers, as well as in micro-LED technology for wearable displays.
In April 2024, JX Nippon Mining & Metals USA, Inc., an industry leader in semiconductor materials, announced the completion of a $29 Million land acquisition deal in Mesa, Arizona. The 65-acre greenfield site will serve as JX’s new base of operations for its semiconductor sputtering target business serving the North American and European markets. Furthermore, it will propel JX’s business development and become the center for advanced materials in North America.
Product Types Covered:
• Sputtering Targets
• Evaporation Materials
Materials Covered:
• Metal
• Ceramic
• Alloy
• Advanced Materials
Technologies Covered:
• Sputtering
• Evaporation
Applications Covered:
• Semiconductors
• Display
• Data Storage
• Solar Cells
• Optical Coatings
• Wear-Resistant Coatings
• Decorative Coatings
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Sputtering Targets & Evaporation Materials Market, By Product Type
5.1 Introduction
5.2 Sputtering Targets
5.2.1 Planar Targets
5.2.2 Rotary Targets
5.2.3 Bonding Techniques
5.2.4 Target Dimensions and Geometries
5.2.5 Target Purity and Microstructure
5.3 Evaporation Materials
5.3.1 Wires
5.3.2 Rods
5.3.3 Ingots
5.3.4 Granules/Powders
5.3.5 Crucibles and Boats
6 Global Sputtering Targets & Evaporation Materials Market, By Material
6.1 Introduction
6.2 Metal
6.2.1 Aluminum
6.2.2 Copper
6.2.3 Gold
6.2.4 Titanium
6.2.5 Other Metals
6.3 Ceramic
6.3.1 Silica
6.3.2 Zirconia
6.3.3 Other Ceramics
6.4 Alloy
6.4.1 Stainless Steel
6.4.2 Nickel Alloys
6.4.3 Other Alloys
6.5 Advanced Materials
7 Global Sputtering Targets & Evaporation Materials Market, By Technology
7.1 Introduction
7.2 Sputtering
7.2.1 Magnetron Sputtering
7.2.2 RF Sputtering
7.2.3 DC Sputtering
7.2.4 Ion Beam Sputtering
7.2.5 Other Sputtering Techniques
7.3 Evaporation
7.3.1 Thermal Evaporation
7.3.2 E-beam Evaporation
7.3.3 Other Evaporation Techniques
8 Global Sputtering Targets & Evaporation Materials Market, By Application
8.1 Introduction
8.2 Semiconductors
8.3 Display
8.4 Data Storage
8.5 Solar Cells
8.6 Optical Coatings
8.7 Wear-Resistant Coatings
8.8 Decorative Coatings
8.9 Other Applications
9 Global Sputtering Targets & Evaporation Materials Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Materion Corporation
11.2 ULVAC, Inc.
11.3 Plansee SE
11.4 Tosoh Corporation
11.5 Hitachi Metals Ltd.
11.6 JX Nippon Mining & Metals Corporation
11.7 Praxair Surface Technologies
11.8 Honeywell International, Inc.
11.9 Heraeus Holding GmbH
11.10 Kurt J. Lesker Company
11.11 SCI Engineered Materials
11.12 Konfoong Materials International Co., Ltd.
11.13 Soleras Advanced Coatings
11.14 Nichia Corporation
11.15 Umicore
11.16 Treibachner Industrie AG
11.17 Furuya Metal Co., Ltd.
11.18 Grinm Advanced Materials Co., Ltd.
List of Tables
1 Global Sputtering Targets & Evaporation Materials Market Outlook, By Region (2022-2030) ($MN)
2 Global Sputtering Targets & Evaporation Materials Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Sputtering Targets & Evaporation Materials Market Outlook, By Sputtering Targets (2022-2030) ($MN)
4 Global Sputtering Targets & Evaporation Materials Market Outlook, By Planar Targets (2022-2030) ($MN)
5 Global Sputtering Targets & Evaporation Materials Market Outlook, By Rotary Targets (2022-2030) ($MN)
6 Global Sputtering Targets & Evaporation Materials Market Outlook, By Bonding Techniques (2022-2030) ($MN)
7 Global Sputtering Targets & Evaporation Materials Market Outlook, By Target Dimensions and Geometries (2022-2030) ($MN)
8 Global Sputtering Targets & Evaporation Materials Market Outlook, By Target Purity and Microstructure (2022-2030) ($MN)
9 Global Sputtering Targets & Evaporation Materials Market Outlook, By Evaporation Materials (2022-2030) ($MN)
10 Global Sputtering Targets & Evaporation Materials Market Outlook, By Wires (2022-2030) ($MN)
11 Global Sputtering Targets & Evaporation Materials Market Outlook, By Rods (2022-2030) ($MN)
12 Global Sputtering Targets & Evaporation Materials Market Outlook, By Ingots (2022-2030) ($MN)
13 Global Sputtering Targets & Evaporation Materials Market Outlook, By Granules/Powders (2022-2030) ($MN)
14 Global Sputtering Targets & Evaporation Materials Market Outlook, By Crucibles and Boats (2022-2030) ($MN)
15 Global Sputtering Targets & Evaporation Materials Market Outlook, By Material (2022-2030) ($MN)
16 Global Sputtering Targets & Evaporation Materials Market Outlook, By Metal (2022-2030) ($MN)
17 Global Sputtering Targets & Evaporation Materials Market Outlook, By Aluminum (2022-2030) ($MN)
18 Global Sputtering Targets & Evaporation Materials Market Outlook, By Copper (2022-2030) ($MN)
19 Global Sputtering Targets & Evaporation Materials Market Outlook, By Gold (2022-2030) ($MN)
20 Global Sputtering Targets & Evaporation Materials Market Outlook, By Titanium (2022-2030) ($MN)
21 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Metals (2022-2030) ($MN)
22 Global Sputtering Targets & Evaporation Materials Market Outlook, By Ceramic (2022-2030) ($MN)
23 Global Sputtering Targets & Evaporation Materials Market Outlook, By Silica (2022-2030) ($MN)
24 Global Sputtering Targets & Evaporation Materials Market Outlook, By Zirconia (2022-2030) ($MN)
25 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Ceramics (2022-2030) ($MN)
26 Global Sputtering Targets & Evaporation Materials Market Outlook, By Alloy (2022-2030) ($MN)
27 Global Sputtering Targets & Evaporation Materials Market Outlook, By Stainless Steel (2022-2030) ($MN)
28 Global Sputtering Targets & Evaporation Materials Market Outlook, By Nickel Alloys (2022-2030) ($MN)
29 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Alloys (2022-2030) ($MN)
30 Global Sputtering Targets & Evaporation Materials Market Outlook, By Advanced Materials (2022-2030) ($MN)
31 Global Sputtering Targets & Evaporation Materials Market Outlook, By Technology (2022-2030) ($MN)
32 Global Sputtering Targets & Evaporation Materials Market Outlook, By Sputtering (2022-2030) ($MN)
33 Global Sputtering Targets & Evaporation Materials Market Outlook, By Magnetron Sputtering (2022-2030) ($MN)
34 Global Sputtering Targets & Evaporation Materials Market Outlook, By RF Sputtering (2022-2030) ($MN)
35 Global Sputtering Targets & Evaporation Materials Market Outlook, By DC Sputtering (2022-2030) ($MN)
36 Global Sputtering Targets & Evaporation Materials Market Outlook, By Ion Beam Sputtering (2022-2030) ($MN)
37 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Sputtering Techniques (2022-2030) ($MN)
38 Global Sputtering Targets & Evaporation Materials Market Outlook, By Evaporation (2022-2030) ($MN)
39 Global Sputtering Targets & Evaporation Materials Market Outlook, By Thermal Evaporation (2022-2030) ($MN)
40 Global Sputtering Targets & Evaporation Materials Market Outlook, By E-beam Evaporation (2022-2030) ($MN)
41 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Evaporation Techniques (2022-2030) ($MN)
42 Global Sputtering Targets & Evaporation Materials Market Outlook, By Application (2022-2030) ($MN)
43 Global Sputtering Targets & Evaporation Materials Market Outlook, By Semiconductors (2022-2030) ($MN)
44 Global Sputtering Targets & Evaporation Materials Market Outlook, By Display (2022-2030) ($MN)
45 Global Sputtering Targets & Evaporation Materials Market Outlook, By Data Storage (2022-2030) ($MN)
46 Global Sputtering Targets & Evaporation Materials Market Outlook, By Solar Cells (2022-2030) ($MN)
47 Global Sputtering Targets & Evaporation Materials Market Outlook, By Optical Coatings (2022-2030) ($MN)
48 Global Sputtering Targets & Evaporation Materials Market Outlook, By Wear-Resistant Coatings (2022-2030) ($MN)
49 Global Sputtering Targets & Evaporation Materials Market Outlook, By Decorative Coatings (2022-2030) ($MN)
50 Global Sputtering Targets & Evaporation Materials Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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