Sputtering is the process of forming a thin film when the object is attached to the target substrate by the sputtering and scattering, and the sputtering target is the material for high-speed particle bombardment. The high purity sputtering target means targets with purity more than 4N (purity≥99.99%).
The global High Purity Sputtering Target Material market size is projected to reach US$ 2.90 billion by 2027, from US$ 2.17 billion in 2020, at a CAGR of 2.07% during 2021-2027.
The Asia-Pacific will occupy for more market share in following years, especially in China, Japan, Korea and Taiwan. North America, especially The United States, will still play an important role, which cannot be ignored. Any changes from United States might affect the development trend of High Purity Sputtering Target Material.
For a long time, the global High Purity Sputtering Target Material development and production mainly concentrated in the United States and Japan, and the industry concentration is quite high. Manufactures of High Purity Sputtering Target Material, represented by Linde, Mitsui Mining & Smelting, JX Nippon Mining & Metals Corporation, Materion, Honeywell and other multinational groups, have been involved in this field earlier. After decades of technical accumulation, they occupy the vast majority of market share.
Semiconductor, flat panel displays, solar cells and other downstream industries have a higher demand on the product quality and stability. When the downstream customers, especially the world's leading companies select suppliers, the supplier qualification barriers are higher, and the certification cycle is longer.
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