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. Hence, the growth in the advanced semiconductors manufacturing aids consumer electronic product integration, which will expand the sputter targets market size. Currently, sputter targets are majorly available in terms of metals, alloys, ceramic materials, silicide, and oxides. Manufacturers are using varied melting, sintering, synthesis, and mechanical processing technologies to produce sputter targets with different purities, shapes, and materials in order to increase their sputter targets market share in APAC. Direct current (DC) sputtering, radio frequency (RF) sputtering, reactive sputtering, magnetron sputtering, ion-assisted sputtering, and gas flow sputtering are the various fabrication methods in use today, to obtain optimized customization. Selection of optimal fabrication method according to the purpose of use, results in the production of an effective target.
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. China is the largest manufacturer of consumer electronics in the APAC region. Additionally, China is representing as the top exporter of light-emitting devices, as of 2018. Growing demand for semiconductor and electronic devices in the consumer electronics industry along with the increasing penetration of thin-film technologies in digital electronics are boosting the APAC sputter targets market revenue. China, Japan, and India are the eminent countries of the APAC region, which are assisting for an increment in the APAC sputter targets market revenue.
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. Recently, developments in the aerospace and automotive industries are replicating the progression in the manufacturing industry coupled with the rise in the demand for high-performance tools and molds. Japan is representing one of the major shares in the global tool and die coating market. It is due to the application of an increased proportion of coatings for machining tools. TiAl, chromium aluminum (CrAl), Cr, and Ti are some of the main types of targets experiencing demand in the tooling coatings segment. Moreover, the prominence of sputter gutters, especially in the glass coating application to produce low-emission coated glass is also augmenting the APAC sputter targets market revenues. 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.