Precious Metal Sputtering Targets Market Size, Share, Growth and Industry analysis, By Type (Silver Target, Gold Target, Platinum Target, Others), By Application (Semiconductor, Solar Energy, LCD Flat Panel Display, Others Flat Panel Display) and Regional Forecast to 2034

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PRECIOUS METAL SPUTTERING TARGETS MARKET OVERVIEW

The global precious metal sputtering targets market size was valued at USD 0.41 billion in 2025 and is expected to reach USD 1.03 billion by 2034, growing at a compound annual growth rate (CAGR) of about 10.83% from 2025 to 2034.

The United States Precious Metal Sputtering Targets Market size is projected at USD 0.13 Billion in 2025, the Europe Precious Metal Sputtering Targets Market size is projected at USD 0.11 Billion in 2025, and the China Precious Metal Sputtering Targets Market size is projected at USD 0.11 Billion in 2025.

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.

KEY FINDINGS

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.

• Over 60 metric tons of gold were consumed in sputtering‐target form in 2024, with semiconductor fabrication alone accounting for more than 45% of this volume.

• Worldwide OLED panel unit shipments rose from 190 million in 2022 to 225 million in 2023, an 18.4% increase that has driven heightened demand for silver-based sputtering targets in display manufacturing.

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PRECIOUS METAL SPUTTERING TARGETS MARKET SEGMENTATION

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.

• Global capacity for sub-5 nm process nodes is projected to grow 13% in 2024—driven largely by AI-accelerated chip demand—which in turn boosts usage of platinum, palladium and gold targets in advanced deposition tools

• Installed wafer fab capacity rose 1.2% quarter-over-quarter in Q1 2024 to exceed 40 million wafers/quarter (300 mm-equivalent), underpinning renewed sputtering-target orders for both logic and memory fabs

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.

• In its 2024 Forecast Survey, the London Bullion Market Association reported silver’s trading range of $18–$32/oz (a 78% swing), complicating cost forecasts for silver-based sputtering target manufacturers

• Short-term gold lending rates in London surged to about 10% annualized in April 2025—up from 2–3% previously—reflecting strained physical stocks and pressuring lead times for gold target production

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PRECIOUS METAL SPUTTERING TARGETS MARKET REGIONAL INSIGHTS

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.

• Plansee operates over 50 sites worldwide and manufactures more than 100 tons of molybdenum, tungsten, and precious metal targets annually for semiconductor and display sputtering systems.

• Luvata’s facilities produce over 10,000 km of copper and silver-based alloy products annually, a portion of which is precision-machined into sputtering targets for medical imaging and photovoltaics.

List of Top Precious Metal Sputtering Targets Companies

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

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.