Precious Metal Sputtering Targets Market Size, Share, Growth, and Industry Analysis by Type (Gold Target, Sliver Target, Platinum Target, and Others) By Application (Semiconductor, Solar Energy, LCD Flat Panel Display, and Others Flat Panel Display), Regional Forecast To 2031

Updated On: 08 April 2024

Precious Metal Sputtering Targets Market REPORT OVERVIEW

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global precious metal sputtering targets market size was USD  303.6 million in 2022 and market is projected to touch 601.853 Million by 2031, exhibiting a CAGR of 7.9% during the forecast period.

Precious metal sputtering targets are used in several industries such as automotive, aerospace, medical devices, glass, semiconductor, and others. It is typically used in the vacuum coating process to manufacture products.

Precious metals such as Gold, Silver, Platinum, and others are precious metals. The growing need for the metals in semiconductor sector coupled with microelectronics sector. The metals are used in several applications for its good performance characteristics. Growth in electronic sector and rapid industrialization is predicted to fuel market progress in the coming years. Growing developments in automobile sector and preparation of thin films in solar cell coating in solar sector, electronics devices, and conductor & protective layer in semiconductor is anticipated to show lucrative growth opportunities in market progress. Also, precious metal targets vacuum coating process for new generation of innovative products. Rapid development in aerospace sector and adoption of the product in aviation electronics is expected to fuel market growth in the coming years. The advanced features of precious metals such as liquid crystal display screens, integrated circuits, electronic control devices, information storage, laser memory and other features is anticipated to boost the metals adoption in electronic sector. On the contrary, higher cost of the product is estimated to limit market progress in the coming years.

COVID-19 Impact: Economic Crisis and Lower Availability of Resources to Limit Market Growth

The closing of several business operation and shutting of manufacturing units to hamper market growth. Lack of availability of resources and travel ban across the globe to hamper market growth. Economic crisis and strict regulations by governments to hinder market progress.

LATEST TRENDS

"Several Advantages of Equipment to Fuel Market Growth "

The several advantages associated with the equipment such as purity, dimensions, density. Growing need for advanced equipment among end-user sector. The equipment has density, outgassing rate, and residual stress, which is anticipated to fuel market growth in the coming years. Rise in need for bonding material and method is predicted to boost market progress.

Precious Metal Sputtering Targets Market SEGMENTATION

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• By Type

Based on type, the market is divided gold target, sliver target, platinum target, and others.

Gold target is expected to be the top part of type segmentation.

•  By Application

Based on the application, the market is divided into semiconductor, solar energy, LCD flat panel display, and others flat panel display.

Semiconductor is expected to be the top part of application segmentation.

DRIVING FACTORS

"Rapid Development in Semiconductor to Boost Market Progress"

Precious metals such as Gold, Silver, Platinum, and others are precious metals. The growing need for the metals in semiconductor sector coupled with microelectronics sector. The metals are used in several applications for its good performance characteristics. Growth in electronic sector and rapid industrialization is predicted to fuel market progress in the coming years. Growing developments in automobile sector and preparation of thin films in solar cell coating in solar sector, electronics devices, and conductor & protective layer in semiconductor is anticipated to show lucrative growth opportunities in market progress in the coming years.

"Rapid Development in Aerospace Sector to Foster Market Progress "

precious metal targets vacuum coating process for new generation of innovative products. Rapid development in aerospace sector and adoption of the product in aviation electronics is expected to fuel market growth in the coming years. The advanced features of precious metals such as liquid crystal display screens, integrated circuits, electronic control devices, information storage, laser memory and other features is anticipated to boost the metals adoption in electronic sector.

RESTRAINING FACTORS

"High Cost of Metals to Hamper Market Growth "

The higher cost of the product is estimated to limit market progress in the coming years.

Precious Metal Sputtering Targets Market REGIONAL INSIGHTS

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"Growing Developments in Electrical and Electronic Sector in Asia Pacific to Drive Market Share" 

Asia Pacific is anticipated to hold prominent precious metal sputtering targets market share owing to growing electrical & electronics and power & energy sector. Presence of developed economic in China, Japan, and India is anticipated to boost market growth. The metals are used in several applications for its good performance characteristics. Growth in electronic sector and rapid industrialization is predicted to fuel market progress in the coming years. Growing developments in automobile sector and preparation of thin films in solar cell coating in solar sector, electronics devices, and conductor & protective layer in semiconductor is anticipated to show lucrative growth opportunities in market progress. Also, precious metal targets vacuum coating process for new generation of innovative products. Rapid development in aerospace sector and adoption of the product in aviation electronics is expected to fuel market growth in the coming years. The advanced features of precious metals such as liquid crystal display screens, integrated circuits, electronic control devices, information storage, laser memory and other features is anticipated to boost the metals adoption in electronic sector.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• JX Nippon Mining & Metals Corporation
• Praxair
• Plansee SE
• Mitsui Mining & Smelting
• Hitachi Metals
• Honeywell
• Sumitomo Chemical
• ULVAC
• Materion (Heraeus)
• GRIKIN Advanced Material Co., Ltd.
• TOSOH
• Ningbo Jiangfeng
• Heesung
• Luvata
• Fujian Acetron New Materials Co., Ltd
• Changzhou Sujing Electronic Material
• Luoyang Sifon Electronic Materials
• FURAYA Metals Co., Ltd
• Advantec
• Angstrom Sciences
• Umicore Thin Film Products

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.