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    APAC Sputter Targets Market Forecast to Reach $1.2 Billion by 2026
    (I-BusinessNews.Com, January 13, 2022 ) APAC sputter targets market is forecast to reach $1.2 billion by 2026, after growing at a CAGR of 5.9% during 2021-2026. Sputtering is an advanced physical vapour deposition and hot isostatic pressing technology that is mainly used to deposit very thin layers of 3-5 mm for a wide variety of commercial and scientific purposes. This technology is mainly used into electronics and semiconductor manufacturing where coating layers plays an important role in the performance of the final products. Growing microelectronics industry and regulations over controlled hexavalent chrome (cr6) emission is expected to act as a key growth driver during the period of study. With rise in electronics industries and growing production of electronic products such as Semiconductors and computer chips to create hard-edged thin film deposition and sputter deposition coatings for a variety of tools using alloys and ceramic targets, the APAC Sputter Targets 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.



    APAC Sputter Targets Market Segment Analysis – By Material Type



    Pure metals are highly used for sputtering as well as evaporation processes. In all popular geometries, including planar, circular, rectangular, ring, delta, conical, and custom configurations, high purity sputtering targets are manufactured. Pure metal sputtering targets and evaporation materials are used in various thin-film applications which include ferromagnetic thin films, high index films in infrared filters, semiconducting films, capacitor dielectric films, photoconductive films, lubricant films, magnetic films, and many others. Some of the commonly used metal sputtering targets are aluminum, bismuth, iron, lead, lithium, cadmium, boron, indium, silicon, tantalum, and many more.



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    APAC Sputter Targets Market Segment Analysis – By Sputtering Targets



    Metallic & elemental sputtering targets includes a variety of metals, such as niobium, tantalum, tungsten, and molybdenum metals with a strong vertically integrated supply chain to deliver sputter targets for thin film coatings applications. Tantalum is used as a barrier layer on silicon wafers for semiconductor production, it is used in all modern electronics such as in cell phones, DVD and Blu-ray players, laptops and even gaming consoles contain tantalum. Niobium is commonly used in electronics applications and has similar properties to tantalum. It is corrosion resistant due to its oxide film and is considered as superconductor. Titanium is also found in wide variety of conventional products such as watches, laptops, and bicycles, as they are light-weighted and corrosion resistant. This material is also used for wear-resistance and aesthetic design, semiconductors and optical coatings.



    APAC Sputter Targets Market Segment Analysis – By Application



    Electronics sector has been the primary market for sputtering targets and evaporation materials market. Electronics segment includes magnetic data storage, displays, semiconductors, sensors for sputtering targets and evaporation materials market. Sputtering and evaporation technologies have varied applications in semiconductor industries owing to its benefits. These thin film deposition technologies are used for diffusion barriers, adhesion or seed layers, etching, anti-reflection coatings and primary conductors. By sputtering thin layers of Molybdenum (Mo) alloys using physical vapor deposition techniques the wiring and touch sensor electrodes in touch screen devices are created. 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 Sputter Targets Market Segment Analysis – By Geography



    China has dominated the APAC Sputter Targets 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% of the demand for single-aisle aircraft will be during this period, while for wide-body, the demand will be 21%. 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, APAC Sputter Targets will see an upsurge in its demand, which will then drive the APAC Sputter Targets market during the forecast period.



    APAC Sputter Targets Market 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 APAC Sputter Targets market growth



    Prevalence of APAC Sputter Targets in coating applications



    The shift in the people’s living standards has led to the growth of the decorating coatings market, which is supporting the APAC 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. Tooling coatings is one of the main applications of APAC 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 of life of processed parts, tools, and molds.



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    APAC Sputter Targets Market Challenges



    Volatile materials prices



    The prices of evaporation materials are relatively more volatile. The price of the end product is directly proportional to the cost involved in their technology development, complex manufacturing process, and targets used in the machine, equipment, or systems. Aluminum, copper, and titanium are the widely used material targets. According to the International Monetary Fund (IMF) aluminum price will rise to $1908/mt in 2021 and correspondingly reach $2,159/mt by 2024. Whereas, the price of copper is expected to rise up to $6838/mt by 2024. This increase will lead to price rise of the end product. Thus, these factors may restrict the sputtering target and evaporation materials market growth.



    Impact of COVID-19



    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 lead 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.



    APAC Sputter Targets Market Landscape



    Technology launches, acquisitions and R&D activities are key strategies adopted by players in the APAC Sputter Targets market. In 2020, the market of fuel additives has been consolidated by the top five players accounting for 36% of the share. Major players in the APAC Sputter Targets 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.



    Acquisitions/Technology Launches



    In October 2019, Vital acquired high performance sputtering targets production facility from Heraeus



    Key Takeaways



    China dominates the APAC Sputter Targets market owing to increasing demand from various end use such as aerospace & defense, electronics and others.



    The growing popularity for sputtering targets made coatings, is likely to aid in the market growth of sputtering targets and evaporation materials market.



    Implementation of governments regulations towards electronics industries will increase the market demand for sputtering targets and evaporation materials market in the near future.



    COVID-19 pandemic will create hurdles for the APAC Sputter Targets market.



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