The Copper Sputtering Target Market is Anticipated to Witness High Growth Owing to Wide Applications in Electronics Devices
The copper sputtering target market has witnessed significant growth over the past few years owing to the wide applications of copper in manufacturing electronic products such as PCBs, Semiconductors, flat panels displays. Copper offers high electrical and thermal conductivity and resistance to corrosion which makes it a preferred material in various electronic components. The growing requirement of display panels for smartphones, televisions and other consumer electronics has propelled the demand for copper sputtering targets in recent times.
Global copper sputtering target market is estimated to be valued at US$ 4.26 Bn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 to 2031.
Extensive use of copper in manufacturing semiconductors, printed circuit boards (PCBs), flat panel displays (FPDs), and other electronic components has been a major factor driving the market growth. Copper is preferred as a sputtering target owing to its high conductivity, high resistance to corrosion and low contact resistivity.
Key Takeaways
Key players operating in The Copper Sputtering Target Market are YINYAN Model Tech MFT., Tian Yu Hi-tech Co. Ltd, Eachine, Hubsan. These players account for a significant share of the market. YINYAN Model Tech MFT. specializes in manufacturing sputtering targets for semiconductors and flat panel displays.
There is huge potential for growth in demand for displays used in laptops, smartphones, televisions and other consumer electronics which offer opportunities for copper sputtering target manufacturers to expand. Leading players are investing in expanding their production facilities across major markets like China, South Korea and Taiwan to leverage the demand from display and semiconductor fabricators located in these regions.
The copper sputtering target market is expanding globally with players focusing on developing economies for further business opportunities. Regions like Asia Pacific and Middle East & Africa are anticipated to witness high YOY growth in demand for copper sputtering targets. Key companies have entered into long term agreements with local fabricators to establish a local presence and better address customer requirements.
Market drivers: Growing demand for high-performance computing and advanced semiconductor chips will drive the demand for copper sputtering targets over the forecast period. Copper helps in increasing transistor speed and lowering power consumption making it ideal for next generation semiconductor fabriction.
Market restraints: Volatility in copper prices poses a major challenge for manufacturers and can hamper market growth. Nearly 80% of the cost of a sputtering target is attributed to the raw material which is copper. Significant fluctuations in copper prices increase uncertainty and negatively impact producer margins.
Segment Analysis
Copper sputtering targets dominate the market as copper is extensively used for depositing conductive layers in the manufacturing of interconnects, diffusion barriers, seed layers, wirings at the front-end and back-end of integrated circuits due to its high conductivity and corrosion resistance properties. The semiconductor manufacturing application segment holds the largest share as copper sputtering targets are used in the deposition of copper thin films in semiconductor devices. Integrated circuits manufacturing consumes major quantity of copper sputtering targets.
Global Analysis
The Asia Pacific region dominates the global copper sputtering target market and is expected to maintain its dominance during the forecast period. This is attributed to the rise in number of foundries and fabless semiconductor manufacturing facilities in China, Taiwan, South Korea, and Japan. These countries are the major hubs for electronics and semiconductor manufacturing. China holds more than 50% of total global foundry capacity. The growing fabless semiconductor industry along with rising outsourcing of IC manufacturing is driving the demand for copper sputtering targets in Asia Pacific. North America is also a significant consumer owing to presence of semiconductor wafer fabs of large companies.
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