New York, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The Global Complex Oxide Sputtering Target Market Size Was Valued At USD 2.2 Billion In 2021. The Market Is Projected To Grow USD 6.7 Billion In 2030, At A CAGR Of 5.5%. as per the latest research report by Spherical Insights & Consulting.
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Companies in the sputtering target market are increasing their production capacity for optical film goods. JX Nippon Mining & Metals, a provider of consumable electronic materials, is increasing production of sputtering targets for optical films used to make Blue-ray Discs, DVDs, and other optical discs. Stakeholders in the sputtering target market are recognizing the value of R&D in developing goods that meet consumer needs in terms of environmental resistance, refractive index, thermal conductivity, and other factors. Optical disc material innovations are being applied to a wide range of optical devices, including OLED (Organic Light-Emitting Diode) screens, optical films, and optical sensors. Manufacturers are honing their quality-control skills in order to provide sputtering targets.
Manufacturers produce increased sputtering targets using sintering technology such as sintered glass and thoroughly treated glass. Sintering is the process of compacting and producing a solid mass of material without melting it to the point of liquefaction using heat or pressure. Deep-glass firms and glass producers, in particular, are focusing on expanding their coated glass manufacturing lines. In the electronics business, precious metal thin film materials made with sintering technique are highly valued, notably in the semiconductor and magnetic disc industries. The sputtering target market is being pushed by an increase in coating demand as a result of the adoption of new technologies. Moreover, over the forecast period, the worldwide sputtering target market is likely to be driven by an increase in research and development spending to create innovative products.
The microelectronic target segment has dominated the market share in 2020 owing to achieve homogeneous thin film coatings, each thin film coating application requires a unique combination of technique and material. The source material is precisely designed with a precise alloy composition, refined grain size, and consistent phase content to ensure coatings with predictable, repeatable qualities. The semiconductors held the largest market share of the global complex oxide sputtering target market attributing to the increasing number of electronics manufacturer and in turn growing usage of smartphones which is fueling the growth of the global complex oxide sputtering target market.
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North America region is dominating the market share of global complex oxide sputtering target market owing to the high product demand in major end-use industries coupled with the presence of key market players such as American Elements (US) and ASM International (US). However, Asia Pacific is expected to witness highest growth rate during the forecast period of complex oxide sputtering target market due to the rising population and urbanization activities. Rising industrial growth, environmental concerns, increased disposable income, and increasing adoption of complex oxide sputtering targets in the end-use industries in developing countries particularly China and India are driving consequently fueling the demand for global complex oxide sputtering target market.
Browse key industry insights spread across 200 pages with 119 market data tables and figures & charts from the report “Global Complex Oxide Sputtering Target Market Size, Share, And COVID-19 Impact Analysis, By Type (Microelectronic Target, Magnetic Recording Target, Optical Disk Target, & Others), By Application (Semiconductors, Optical Films, Photovoltaic Cells, Glass Coatings & Others), And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East And Africa) Analysis And Forecast 2021 – 2030” in detail along with the table of contents
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Key Companies & Recent Developments
Companies Covered: American Elements, Hitachi Metals, Ltd, Heraeus, Admat Inc., Materion Corporation, RHP-Technology GmbH, Plansee SE, Kurt J. Lesker Company, Otto Chemie Pvt. Ltd., Testbourne Ltd, Morgan Advanced Materials, Plasmaterials, EVOCHEM Advanced Materials and Others.
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