The growing electronics sector is anticipated to boost the sputtering targets and evaporation materials market during the forecast period 2020-2025. Sputtering Targets & Evaporation Materials Market is forecast to reach $3.5 billion by 2025, after growing at a CAGR of 4.0% during 2020-2025.
With rise in electronic industries and growing production of electronic products such as semiconductors and computer chips to create hard-edged thin coatings for a variety of tools using alloys and ceramic targets, the sputtering targets & evaporation materials market is witnessing an increase in demand. Growing public interest towards electronics products will further enhance the overall market demand for sputtering targets and evaporation materials market during the forecast period.
Electronics sector has been the primary market for sputtering targets and evaporation materials market. Electronics segment consists of magnetic data storage, displays, semiconductors, sensors for sputtering targets and evaporation materials market. Owing to the benefits, the sputtering and evaporation technologies have various applications in semiconductor industries. These thin film deposition technologies are used for diffusion barriers, adhesion or seed layers, etching, antireflection coatings and primary conductors. The wiring and touch sensor electrodes in touch screen devices are created, by sputtering thin layers of Molybdenum (Mo) alloys using physical vapor deposition techniques. Whereas almost all the magnetic storage data devices undergo sputtering or thin film deposition by different methods. The thin film deposition by sputtering and/or other deposition methods enhance the magnetic storage density and data transfer rates.
APAC has dominated the sputtering targets & evaporation materials market. Major countries in this region are China, Japan, South Korea and Others. According to Boeing (Commercial Market Outlook 2018-2037), China will need 7,690 new aircraft over the next 20 years valued at US$1.2 trillion. Around 74 percent of the demand for single-aisle aircraft will be during this period, while for wide-body, the demand will be 21 percent. China also accounts for 15 % of the world's commercial aircraft fleet at present, and by 2037 it will be nearly 20%. In Japan, according to japan automobile manufacturers association, Inc. (JAMA), total number of motor vehicle production was 5,272,068 in 2018 and 3,601,475 in 2019. With the increasing automobile production, sputtering targets & evaporation materials will see an upsurge in its demand, which will then drive the sputtering targets & evaporation materials market during the forecast period.
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Sputtering Targets and Evaporation Materials Market Growth Drivers:
- Increasing demand for electronic products
Sputtering targets and evaporation materials are used in a wide range of applications in semiconductors and electronic devices. According to China’s National Integrated Circuit Development Promotion Outline, the Chinese government will make significant efforts to support the electronics industry, especially the IC manufacturing and design industry. Production of ICs in China will increase at an average annual pace of over 14 percent by 2022. Sputtering targets and evaporation materials are 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. Targets such as NiCr, nickel-chromium (NiCrSi), chromium silicon (CrSi), tantalum, and nickel-chromium-aluminum (NiCrAl) are mostly used in the electronic device coating to manufacture thin-film resistors and film capacitors. The growth in the electronics industry thus supports the sputtering targets & evaporation materials market growth
- Implementation of governments regulations towards solar energy
Sputtering and evaporation are the two most common methods used in thin-film solar panels and photovoltaics (PV) manufacturing. Globally, various governments have set clean energy targets, and are trying to achieve them by switching over to renewable energies such as solar. Thus, loads of developments are taking place at the global level, for instance, European countries are focusing the most on both, PV and CSP (Concentrated Solar Power) technology, whereas Asian countries have shown substantial growth in terms of PV installation. In 2018, China installed about 43 GW of solar power generation capacity. India installed 7.3 GW of solar power in the country in 2019, establishing its position as the world's third largest solar market.
The Major Players in this Market Include:
Major players in the sputtering targets and evaporation materials market are Materion Corporation, SCI Engineered Materials, Inc., Hitachi Metals Ltd., Ulvac, Inc., Treibachner industrie AG, Umicore Thin Film Products AG, Kurt J. Lesker Company, PLANSEE SE, Furuya Metal Co., Ltd., Able Target Ltd, among others. In April 2015, ULVAC, Inc. and Robert Bosch GmbH signed an agreement to develop piezoelectric device (PZT) for MEMS. ULVAC‘s SME-200 sputtering system was selected by Bosch for the development of upcoming leading edge MEMS.. In previous years, with the growth of MEMS technology, sensors and actuators were produced and marketed using piezoelectric devices.
Due to the COVID-19 pandemic. The production facilities of the electronics parts have been halted owing to the logistics slowdown and unavailability of the workforce across the globe. On the other hand, various e-commerce companies all across the globe have discontinued the delivery of non-essential items (including most of the electronics products), which is affecting the electronics industry. This will be led to a massive decline in sputtering targets and evaporation materials market in the electronics sector, as this is the major sector for sputtering targets and evaporation materials market.
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