PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485724
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485724
The Copper Sputtering Target Market size was valued at USD 1,312.23 million in 2023, expanding at a CAGR of 7.6% from 2024 to 2032.
Copper sputtering targets play a vital role in the vacuum coating industry as they are considered excellent materials for sputtering. These targets are specifically designed for thin film coating applications, with the copper sputter target being a result of refining high-purity copper metal through a series of meticulous processes. With precise dimensions and shapes, copper sputtering targets find widespread use across various sectors such as semiconductor manufacturing, thin film solar cells, and architectural glass coatings. The quality and purity of the copper target are paramount in achieving the desired film properties and ensuring the reliability of the sputtering process. To meet these requirements, manufacturers employ advanced purification techniques to produce top-notch copper sputtering targets with the necessary level of purity.
Copper Sputtering Target Market- Market Dynamics
The growing utilization of copper as a sputtering target in the production of semiconductor chips is expected to drive the expansion of the Copper Sputtering Target industry.
Copper has become the primary choice over aluminum for interconnects in semiconductor chips due to its superior conductivity and lower resistance. With semiconductor companies striving to create smaller, faster, and more efficient chips, the demand for copper sputtering targets is expected to rise for depositing copper interconnect layers during chip production. The Semiconductor Industry Association (SIA) reported that global semiconductor industry sales reached USD 526.8 billion in 2023, marking an 8.2% decrease from the record high of USD 574.1 billion in 2022. Sales saw an uptick in the latter half of 2023, with fourth-quarter sales totaling USD146.0 billion, an 11.6% increase from the same period in 2022 and 8.4% higher than the third quarter of 2023. Ongoing investments in research and development by semiconductor manufacturers and equipment suppliers are driving advancements in sputtering technology and target materials. However, market growth may be hindered by Environmental Regulations.
Copper Sputtering Target Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.6% over the forecast period (2024-2032)
Based on product type segmentation, High Purity Copper Sputtering Target was predicted to show maximum market share in the year 2023
Based on application segmentation, Semiconductors was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Copper Sputtering Target Market is segmented based on Product Type, Application, End-User, and Region.'
The market is segmented into three categories according to product type: Low Purity Copper Sputtering Target, High Purity Copper Sputtering Target, and Ultra High Purity Copper Sputtering Target. The High Purity Copper Sputtering Target segment holds the largest market share. Copper sputtering targets play a crucial role in the physical vapor deposition (PVD) process, which is extensively utilized in the manufacturing of integrated circuits, flat panel displays, solar cells, and various other electronic applications.
The market is segmented into two categories according to their application: Semiconductors, Solar Cell, LCD Displays, and Others. The Semiconductors segment holds the largest market share. Copper sputtering targets play a crucial role in the semiconductor manufacturing process, especially in the physical vapor deposition (PVD) technique. In PVD, a copper thin film is applied to a substrate (usually a silicon wafer) to produce conductive interconnects and various components in integrated circuits.
The market is segmented into six sectors according to End-user: Electrical and Electronics, Automotive, Aerospace and Defence, Medical, Renewable Energy, Decorative Coatings, and Other industries. The copper-sputtering target market caters to a variety of end-user sectors, providing materials that are essential for cutting-edge technological solutions that demand accuracy, dependability, and top-notch performance.
Copper Sputtering Target Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented based on the countries involved in business activities. The market is primarily dominated by North America, driven by the rising demand in the electrical and electronic industry. Particularly, the United States stands out as a center for technological advancements in the semiconductor and electronics sectors. The region boasts a strong electronics manufacturing industry, catering to various sectors such as consumer electronics, automotive electronics, aerospace, defense, and healthcare. In 2022, the manufacturing sector in the U.S. contributed USD 2.3 trillion to the country's GDP, representing 11.4% of the total GDP when measured in chained 2012 dollars. Taking into account both direct and indirect value-added, manufacturing contributed approximately 24% of the GDP, as reported by the National Institute of Standards and Technology. On the other hand, Europe leads in market growth, attributed to the increasing utilization of copper in solar photovoltaics.
The market for copper sputtering targets is characterized by fierce competition among suppliers, with key factors including product quality, purity levels, technological capabilities, pricing, and customer service driving this intensity. Companies that possess a robust global presence and a well-established distribution network are better positioned to cater to semiconductor manufacturers and other end-users on a global scale. Additionally, being near major semiconductor manufacturing hubs and forming strategic partnerships with distributors can further bolster market reach and competitiveness.
In the past few years, there has been a growing interest in thin-film photovoltaics that make use of Sb2Se3 as a highly suitable absorber layer. This particular compound is preferred because of its abundance, non-toxic properties, long-term stability, and ability to utilize cost-effective and scalable vapor deposition (PVD) methods.
GLOBAL COPPER SPUTTERING TARGET MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Materion Corporation
Kurt J. Lesker Company
Hitachi Metals, Ltd.
Honeywell International Inc.
Plansee SE
ULVAC, Inc.
Mitsui Mining & Smelting Co., Ltd.
Sumitomo Chemical Co., Ltd.
TOSOH Corporation
Angstrom Sciences, Inc.
ACI Alloys, Inc.
Testbourne Ltd.
Lesker Corporation
China Rare Metal Material Co., Ltd. (CRM)
China New Metal Materials Technology Co., Ltd.
FDC Copper
NanoAmor
Pure Tech Inc.
Beijing Guanli
China Sputtering Target
Others