Global Ytterbium Sputtering Target Market Size, Share, and COVID-19 Impact Analysis, By Type (Long Target, Square Target, Circle Target, Special-shaped Target), By Application (Integrated Circuit, Information Storage, LCD Screen, Laser Memory), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2021 – 2030Industry: Chemicals & Materials
KEY MARKET INSIGHTS
The Global Ytterbium Sputtering Target Market was valued at USD 28.4 Billion in 2021. The market is projected to grow USD 37.2 Billion in 2030, at a CAGR of 5.2%. A sputtering target is a substance used in the technique of sputter deposition, also known as thin film deposition. In a vacuum or inert-gas atmosphere, arc-melting or radio-frequency melting of a metal mixture can easily make multielement alloy sputtering targets.
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To stay alive, chipmakers in the worldwide sputtering target industry are transferring production capacity to healthcare applications. Asian firms are expected to thrive because they will have less direct influence over their domestic operations and markets. Manufacturers are gradually changing their product portfolios by determining which applications and consumer groups are likely to undergo significant changes soon. In comparison to evaporation materials, sputtering targets are a relatively new type of coating material utilized in the solar industry for thin-film solar cell coatings.
Global Ytterbium Sputtering Target Market Report Coverage
|Market Size in 2021:||USD 28.4 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||5.2%|
|2030 Value Projection:||USD 37.2 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||189|
|Tables, Charts & Figures:||121|
|Segments covered:||COVID-19 Impact Analysis, By Type, By Application, By Region|
|Companies Covered:||Kurt J. Lesker Company, American Elements, ALB Materials, Heeger Materials, SCI Engineered Materials, Princeton Scientific Corp, Konfoong Materials International Co., Ltd, JX Nippon Mining & Metals Corporation, Vacuum Engineering and Materials Co., Sumitomo Chemicals Co., Ltd., Matsurf Technologies Inc., Honeywell International, Inc., NewFlex Technology, Fujikura, Daeduck GDS.|
|Pitfalls & Challenges:||The COVID-19 has a substantial impact on the performance of the manufacturing industry.|
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The COVID-19 has a substantial impact on the performance of the manufacturing industry. The repercussions and impact of the outbreak are projected to worsen in the coming months as the virus spreads. A few governments are contemplating national-level lockdowns as a potential method of curbing virus transmission. The outbreak of Covid-19 has forced governments around the world to impose drastic measures such as lockdown, temporary shutdown, and social separation, causing interruption in raw material production and, as a result, higher raw material costs. Raw material shipments and income generated have both decreased. Furthermore, limited raw material supply will limit the rate of high-performance composites, influencing supply chain management of high-performance composites.
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.
Manufacturers in the sputtering target market are unlocking development prospects in solar applications in addition to semiconductor and flat panel displays. By delivering high performance sputtering targets, H.C. Starck Solutions, a developer of high performance metal solutions, is capturing incremental opportunities in photovoltaic, touch screen, and electro-chromic glass applications. Companies who have extensive experience producing a unique combination of high-performance materials have a competitive advantage over their competitors. Improving the efficiency of refractory metals like tungsten, tantalum, and molybdenum.
One of the major problems limiting market growth is the rising costs of raw materials. Despite these constraints, growing economies offer solid wire market players a plethora of fresh sales opportunities for future expansion is limiting the growth of the global ytterbium sputtering target market. The prices increased due to some factors such as sustainable green energy stimuluses, China’s economic recovery from the pandemic, and supply disruptions.
Based on the material segment, the global ytterbium sputtering target market is categorized into long target, square target, target, special-shaped target. The long target segment has dominated the market share in 2020 owing to the high usage of long target due to its long lasting shelf life to ytterbium sputtering target. The rise of sputtering targets manufacturers for their end customers involved in fabrication of components connected to the end use sectors would be aided by demand from automotive electronics, consumer electronics, and solar panels.
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Based on the application segment, the global ytterbium sputtering target market is categorized into integrated circuit, information storage, lcd screen & laser memory. The integrated circuit held the largest market share of the global ytterbium sputtering target market attributing due to growing demand for thin-film manufacturing methods in the semiconductor sector and digital devices. Furthermore, during the review period, the ytterbium sputtering target finds enormous growth prospects in vapour deposition and optoelectronics.
The global Ytterbium 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 ytterbium sputtering target market owing to the demand for stuttered thin film coating has increased due to the increased use of high-performance electronics. The need for sputtering targets has been spurred by the increased adoption of integrated circuits and other modern technologies like as mobile computing, IoT, and smart gadgets. However, Asia Pacific is expected to witness highest growth rate during the forecast period of ytterbium sputtering target market due to the rising population and urbanization activities. Rising industrial growth, environmental concerns, increased disposable income, and increasing adoption of advanced technology fueling the demand for global ytterbium sputtering target market.
- Kurt J. Lesker Company
- American Elements
- ALB Materials
- Heeger Materials
- SCI Engineered Materials
- Princeton Scientific Corp
- Konfoong Materials International Co., Ltd.
- JX Nippon Mining & Metals Corporation
- Vacuum Engineering and Materials Co.
- Sumitomo Chemicals Co., Ltd.
- Matsurf Technologies Inc.
- Honeywell International, Inc.
- NewFlex Technology
- Daeduck GDS
- Long Target
- Square Target
- Circle Target
- Special-shaped Target
- Integrated Circuit
- Information Storage
- LCD Screen
- Laser Memory
- 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
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