Wellesley, Mass, March 09, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research predicts very modest growth in the global market for sputtered films and sputtering targets. Nudged by the trend toward larger sputtering targets, along with falling unit prices due to rising competition from Asian countries, the market should reach an estimated $3.2 billion in 2021, up from about $2.9 billion in 2016.
BCC Research's sputtered films and sputtering targets reports that the electronics sector (including ICs and other circuit devices, passive components and data storage devices) continues to represent a significant share of the market, at 27.9% of the total in 2016, although utilization of sputtering targets in this sector is declining.
Research Highlights
- On-going expansion of the advanced display market and rising sales of light-emitting devices, lasers and optical waveguides are making optoelectronics the third-largest sector in terms of revenues.
- High-efficiency thin-film solar cells are seeing increased commercialization.
- Sputtering targets global market is expected to reach 1,068,000 units in 2021 (2.0% CAGR)
"The lower growth rate in units compared with the higher CAGR of 6.6% for target material consumed is due to the trend toward the use of larger targets. In other words, fewer but larger targets," says Kevin Fitzgerald, BCC Research Editorial Director. "This reflects a change in the product mix related to the growth of applications such as flat panel displays, optical coatings and solar cells, as well as declining demand for small targets used in manufacturing circuit devices and data-storage media."
Miniaturization Trend Driving Growth in Thin-Film Markets
On-going miniaturization trends in electronics, optoelectronics and other industry sectors (e.g., life sciences, energy, sensors and instrumentation) are driving the growth of the thin-film industry.
"But the trend toward miniaturization is not without consequence," notes Fitzgerald. "The need to produce devices that can target mass markets and compete on price is increasing the pressure to utilize lower-cost manufacturing processes."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.