Sputtering Target Market Size & Share, by Material (Pure Metal, Alloy, Compound, Oxide, Isotope); Application (Aerospace & Defense, Electronics & Semiconductors, Glass Coating, Solar Cell Coating, Solid Oxide Fuel Cells); Sputtering Method (Radio Frequency, Direct Current, Reactive, Magnetron, Gas Flow, Ion-Assisted Sputtering) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5018
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Sputtering Target Market size is set to reach more than USD 8 Billion by the end of 2035, growing at a 2% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of sputtering target was about USD 6 Billion. This growth of the market is projected to be influenced by the growing demand for renewable energy. Hence, in 2022, the capacity of renewable energy was increased to about 7% globally. Hence, the use of sputtering target is on the rise, since it is extensively utilized in preparing thin-film solar cells. Moreover, sputtering is a technique used to coat materials to increase their durability. The magnetron sputtering technology is applied to the hardening of drill bits as well as anti-corrosion and anti-seize coatings, tools, and other procedures.

Additionally, the surge in construction activities is also set to have an influence on the sputtering target market. This is owing to the ability of sputtering target to manufacture low-radiation coating glass which is also known as Low-E glass. Further, this glass aims at saving energy, controlling light, and giving an aesthetic look to the house. Hence, construction industries highly prefer this glass which further boosts the demand for supporting targets. Moreover, in X-ray optics, multilayers are crucial since they are utilized in many different fields, such as synchrotron radiation, free electron lasers (FELs), medical optics, and space-borne X-ray telescopes. Hence, the demand for sputtering target is growing. Furthermore, in many data storage devices, magnetron sputtering is employed. The production of CDs, DVDs, laser discs, hard discs, floppy discs, and micro-electric flash memory is all possible with it. Additionally, it can be applied to the production of nanostructured materials.

Sputtering Target Market
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Sputtering Target Market: Growth Drivers and Challenges

Growth Drivers

  • Growth in Demand for Consumer Electronics

Various consumer electronics such as smartphones, laptops, and more are experiencing a drive in their demand. For instance, in 2023, the total number of smartphone users in the globe is set to be about 5 billion, representing approximately 85% of the global population. Due to this, the demand for sputtering target is also anticipated to grow. This is since, integrated circuits and thin-film transistors, that are utilized in electronic devices such as smartphones, laptops, and televisions, are produced utilizing sputtering target in large quantities.

  • Rising Demand for Rare Earth Materials

Over the few decades from 2023, the rare earth material demand is poised to grow to about 500% or more globally. Rare earth elements typically have unique electrical and optical properties, and hence they are frequently utilized as sputter targets.

  • Surge in the Use of Sputtering Target in Automotive Production

Various automotive components such as auto headlights & taillights, drive train components, and auto trim components make use of sputtering target technology to be manufactured. Hence, with the growing production of these components, the utilization of this technology by automotive industries is also projected to be influenced.


  • High Price of Sputtering Target - The price of the final product is directly correlated with the costs of technical development, the intricate production process, and the targets used in the machinery, tools, or systems. The price final product is estimated to rise owing to this increase. These limitations might therefore prevent the sputtering target market from expanding.
  • Damage to Some Plasma
  • Surge in the Use of Alternative

Sputtering Target Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 6 Billion

Forecast Year Market Size (2035)

~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Sputtering Target Segmentation

Material (Pure Metal, Compound, Alloy, Isotope, Oxide Targets)

Sputtering target market from the pure metal targets segment is set to generate the highest revenue by the end of 2035. This growth is poised to be influenced by a surge in the use of pure metal targets in different configurations including planar, circular, rectangular, and more for the process of sputter and evaporation. The rise in the production of high-index films for infrared filters, ferromagnetic thin films, semiconducting films, photoconductive films, and lubricating films using these targets also contributes to this segment’s revenue gain.

Sputtering Method (Radio Frequency, Direct Current, Reactive, Magnetron, Gas Flow, Ion-assisted Sputtering)

The magnetron sputtering segment in the sputtering target market is expected to have significant growth shortly. This is owing to the use of magnetron sputtering methods in various industrial applications including the production of corrosion-resistant and low-friction coatings.

Our in-depth analysis of the global market includes the following segments: 


  • Pure Metal Targets
  • Alloy Targets
  • Compound Targets
  • Oxide Targets
  • Isotope Targets


  • Aerospace & Defense
  • Electronics & Semiconductors
  • Glass Coating
  • Solar Cell Coating
  • Solid Oxide Fuel Cells

             Sputtering Method

  • Radio Frequency Sputtering
  • Direct Current Sputtering
  • Reactive Sputtering
  • Magnetron Sputtering
  • Gas Flow Sputtering
  • Ion-assisted Sputtering


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Sputtering Target Industry- Regional Synopsis

North American Market Forecast

North America sputtering target market is poised to have the largest growth by the end of 2035, backed by the growing production of aircraft. For instance, the general aviation fleet was projected to have about 204,404 aircraft in the United States in 2021, a growth from the previous year. Hence, the market demand in this region growing since sputter targets is been used as a coating application in aerospace.

APAC Market Statistics

The sputtering target market in the Asia Pacific region is slated to have noteworthy expansion over the forecast period. The major factor driving the growth of the market in this region is the growing public interest in consumer electronics. Moreover, in the Asia Pacific region, the market in China is estimated to be dominating since the demand for automotive, significantly electric vehicles are high.

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Sputtering Target Market Size
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Top Featured Companies Dominating the Sputtering Target Market

    • JX Nippon Mining & Metals Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Praxair Technology, Inc.
    • Plansee SE
    • Mitsui Mining & Smelting Co, Ltd.
    • Hitachi, Ltd.
    • Honeywell International Inc.
    • Sumitomo Chemical Co., Ltd.
    • ULVAC, Inc.
    • Materion Corporation
    • GRIKIN Advanced Material Co., Ltd.


In The News

  • Hannover 96 of the German Bundesliga and Mito HollyHock of the Japan Professional Football League (J. League) have inked partnership agreements with TANIOBIS GmbH, a group company of JX Nippon Mining & Metals Corporation.
  • Hitachi, Ltd. in India announced a partnership with M/s NASH INDUSTRIES, a pioneer in providing solutions with distinctiveness in Design, Precision Sheet Metal Stamping, Fabrication, and Assemblies, to provide controllers for Brushless DC motors with Integrated Single Chip ICs produced at Hitachi Power Semiconductor Device, Ltd. Japan.

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 5018
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growth in demand for consumer electronics, rise in demand for rare earth materials, and surge in the use of sputtering target in automotive production.

The market size of sputtering target is anticipated to attain a CAGR of ~2% over the forecast period, i.e., 2023 – 2035.

The major players in the market are JX Nippon Mining & Metals Corporation, Praxair Technology, Inc., Plansee SE, Mitsui Mining & Smelting Co, Ltd., and more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by material, application, sputtering method, and by region.

The pure metal targets segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The surge in the use of alternatives, the high price of sputtering target, and damage of some plasma are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Sputtering Target Market Report Scope

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