KEY MARKET INSIGHTS

The complex oxide sputtering target market was valued at USD 2.2 Billion in 2021. The market is projected to grow USD 6.7 Billion in 2030, at a CAGR of 5.5%. A sputtering target is a material that is used to create thin films in a technique known as sputter deposition, or thin film deposition. Arc-melting or radio-frequency melting of a mixture of metals in a vacuum or inert-gas atmosphere can easily produce multielemental alloy sputtering targets. Sputtering is a method of depositing thin films of various materials in semiconductors fabrication that is widely utilised in the semiconductor industry. Sputtering is also used to produce thin antireflection coatings on glass for optical applications. Ion beam sputtering, like other physical vapour deposition processes, offers benefits such deposition rate, homogeneity, composition, thickness control, adhesion, and material characteristics. If strains are modest, higher energy sputtering produces larger packing densities and better adhesion. Rising demand for electronic products along with the awareness regarding the environmental consciousness will drive the market growth of complex oxide sputtering target market. Furthermore, rising demand for complex oxide sputtering target with improved thermal conductivity, which aids in streamline workflow is likely to propel the market's revenue growth. The adoption of complex oxide sputtering target is expanding due to growing applications are likely to increase market growth of global complex oxide sputtering target market.
 

The COVID-19 outbreak has impacted negatively on the semiconductor industry's ecosystem, which is built on a complex web of interconnections between suppliers and end customers of high-tech services. Companies in the sputtering target market are proving robust to these challenges by focusing on areas with low or no negative impact, including as optical communication, data centers, and wireless communications. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of uninsulated conductor, influencing the management of the uninsulated conductor supply chain. The unanticipated increase in demand for beverages has boosted the global complex oxide sputtering target market.
 

Operating economies for the chipmakers in the sputtering target market are moving their resources to healthcare applications. Because there will be less immediate impact to their domestic operations and markets, Asian players are expected to benefit. Manufacturers are increasingly rebalancing their product portfolios by assessing which applications and client segments are likely to see significant changes in the near future.
 

Alternatives for using sputtering targets like EMI shielding process, thermal evaporation, and laser cladding processes will hamper on the growth of global complex oxide sputtering target market.
 

By Type

Based on the type segment, the global complex oxide sputtering target market is categorized into microelectronic target, magnetic recording target, optical disk target, & others. The microelectronic target segment has dominated the market share in 2020 owing to achieve homogeneous thin film coatings, each thin film coating application requires a unique combination of technique and material. The source material is precisely designed with a precise alloy composition, refined grain size, and consistent phase content to ensure coatings with predictable, repeatable qualities. For instance, Materion Corp., a multinational corporation specialising in high-performance engineered materials, is working on a high-quality physical vapour deposition (PVD) coating that will be utilised to create unique precious metal sputter target designs.
 

By Application

Based on the application segment, the global complex oxide sputtering target market is categorized into semiconductors, optical films, photovoltaic cells, glass coatings & others. The semiconductors held the largest market share of the global complex oxide sputtering target market attributing to the increasing number of electronics manufacturer and in turn growing usage of smartphones which is fueling the growth of the global complex oxide sputtering target market.
 

REGIONAL INSIGHTS

The global Complex Oxide Sputtering Target market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
 

North America region is dominating the market share of global complex oxide sputtering target market owing to the high product demand in major end-use industries coupled with the presence of key market players such as American Elements (US) and ASM International (US). However, Asia Pacific is expected to witness highest growth rate during the forecast period of complex oxide sputtering target market due to the rising population and urbanization activities. Rising industrial growth, environmental concerns, increased disposable income, and increasing adoption of complex oxide sputtering targets in the end-use industries in developing countries particularly China and India are driving consequently fueling the demand for global complex oxide sputtering target market.
 

INDUSTRY PLAYERS

• American Elements
• Hitachi Metals, Ltd.
• Heraeus
• Admat Inc.
• Materion Corporation
• RHP-Technology GmbH
• Plansee SE
• Kurt J. Lesker Company
• Otto Chemie Pvt. Ltd.
• Testbourne Ltd
• Morgan Advanced Materials
• Plasmaterials
• EVOCHEM Advanced Materials

KEY INDUSTRY DEVELOPMENTS:

 January 2021- The Mitsubishi Corp. launched a new sputtering target (DIABLA) for blackening films and started mass production.
 

August 2019- ULVAC, Inc. successfully launched PZT piezoelectric thin-film sputtering technology and a high volume manufacturing (HVM) solution for the development of actuators and MEMS sensors for high-quality film and reliable production for next-generation devices.
 

SEGMENTATION

By Type

• Microelectronic Target
• Magnetic Recording Target
• Optical Disk Target
• Others

By Application

• Semiconductors
• Optical Films
• Photovoltaic Cells
• Glass Coatings
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia