Sputtering Target Market Trends

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.

Challenges

• 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