Albany, NY -- (SBWIRE) -- 04/24/2017 -- Sputtering is an advanced technology prominently used in electronics manufacturing wherein coatings of thickness in the range of 3–5 micro meter are obtained. The material that is to be coated exists either in planar or rotary form—termed as sputter target, while the product surface on to which the coating is to be obtained is called "substrate". Sputter targets Market are made up of Metal and Elements, Alloys and Compounds. There are over 200 types of sputter targets used across diverse industries. Sputter coating is mainly used for generating transparent conductive oxide (TCO) film on the substrate, which is used in various applications such as flat panel displays, solar panels, and semiconductors among others. The global consumption of sputter coating targets is expected to be pegged at 16,106.0 MT by 2026 end.

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Sputter coating is prominently used in flat panel displays and this is expected to drive the global sputter coatings market owing to a rise in demand across the globe. Growing demand for smartphones, OLED, and LED screens among others in turn is expected to drive the demand for sputter targets over the forecast period. Along with this, growing demand for semiconductors and microelectronics has also stimulated the sputter targets demand over the forecast period. Global semiconductor production is forecast to witness a steady growth of around 6% over 2016–2026, which is anticipated to boost the global sputter coatings market. Furthermore, government investment in solar energy projects helps increase the demand for solar panels. Owing to a rise in demand for high efficiency thin film solar panels across the globe, there is an increase in the demand for sputter targets. Government regulations in developed regions such as North America and Europe pertaining to infrastructure development i.e. zero energy buildings will lead to an increased demand of the low-e glass that will in turn increase the demand for sputter targets. These factors are expected to boost growth of the global sputter coatings market over the forecast period (2016 – 2026).

However, many industries are focussed on the development of alternative methods for effective coatings, and this is likely to adversely impact the demand for sputter targets. The variation in efficiency of coating and price fluctuation are other factors that are expected to restrict the growth of the global sputter coatings market.

APEJ region is leading the global sputter coatings market

In 2015, Asia Pacific excluding Japan (APEJ) possessed the maximum share of 59.6% (in terms of volume) of the global sputter coatings market and is expected to dominate the market over the forecast period, registering a CAGR of 4.4% between 2016 and 2026.

Taiwan is set to remain a major consumer of sputter targets

In terms of consumption, Taiwan is a major consumer of sputter targets with a volume share of 35% and is expected to dominate the market during the forecast period. South Korea and China are other major consumer markets after Taiwan and it is expected that both countries will witness a healthy growth with collective incremental opportunity of US$ 1.04 Bn over the forecast period.

Solar industry to contribute in the demand for sputter targets in China

In China, demand for sputter targets is expected to grow substantially owing to a rise in demand from the solar industry, glass industry, and electronics industry among others. After APEJ, Japan is the major consumer of sputter targets and is expected to register a CAGR of 4.4% over the forecast period. The demand for sputter coatings in North America and Western Europe is growing due to a rise in demand for solar panels, architectural glass, and optics coating among others. The sputter coatings market in North America and Western Europe is expected to register a CAGR of 3.7% and 3.2% respectively.

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Some of the major players operating in the global sputter coatings market are Materion Corporation, ULVAC, Inc., JX Nippon Mining & Metal Corporation, Heraeus Holding, Honeywell International Inc., Umicore Group, Praxair S.T. Technology, Inc., Tosoh SMD, Inc., Soleras Advanced Coatings, China Rare Metal Material Co. Ltd., JIANGYIN ENTRET COATING TECHNOLOGY CO. LTD., and GRIKIN Advanced Materials Co. Ltd. Strategic collaborations to enhance their foothold in prominent countries and development of new sputtering methods are the important strategies adopted by key players in the global sputter coatings market.

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