The copper sputtering target market comprises of products that are used in sputtering processes to deposit a thin film of copper onto substrates such as semiconductors and electronic components. Sputtering targets made of copper are highly conductive and their properties make them ideal for applications in circuits, microchips and printed circuit boards.
The global copper sputtering target market is estimated to be valued at US$ 4.26 Billion in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the copper sputtering target market are YINYAN Model Tech MFT., Tian Yu Hi-tech Co. Ltd, Eachine, HubsanThe FAA, DroneLife, Drone business center, Inside Drones, Bard Center for the Study of the Drone. These companies collectively account for over 35% of the global market share.
The growing demand for electronic devices such as smartphones, computers, wearables and more has led to an increase in the consumption of Copper Sputtering Target Market Demand over the past few years. The advanced electronic technologies and miniaturization of devices require thin film deposition which is fueling the demand.
With the rising global sales of consumer electronics, key manufacturers are expanding their production facilities across different geographic regions. Investments in new sputtering target manufacturing plants in Asia Pacific and North America are expected to cater to the growing regional demand.
Market Key Trends
One of the major trends in the Copper Sputtering Target Market Size And Trends is the increased adoption of green sputtering targets. Conventional sputtering targets contain toxic elements like lead which can negatively impact the environment. Green sputtering targets are lead-free and manufactured using eco-friendly processes. They allow electronics manufacturers to comply with stringent environmental regulations. This trend is expected to gain more traction in the coming years supported by initiatives to reduce electronic waste.
Porter’s Analysis
Threat of new entrants: High capital investments limit new players to enter this market. Bargaining power of buyers: Large buyers can negotiate prices lowering the margins for manufacturers. Bargaining power of suppliers: The availability of raw materials ensures low bargaining power of suppliers. Threat of new substitutes: Substitution threat is moderate due to lack of cost-effective alternatives. Competitive rivalry: Fragmented nature of market ensures fierce competition among existing players to increase their market share.
The Asia Pacific region accounts for the major share of the global Copper Sputtering Target Market in terms of value, with China being the largest consumer. North America also consumes notable quantities primarily due to increasing semiconductor fabrication activities in the US and Canada.
The copper sputtering target market in Asia Pacific region is estimated to witness the highest CAGR during the forecast period. This is attributed to surging foreign investments for setting up semiconductor wafer fabs and display panel plants in various countries such as China, South Korea, and India. Continuous capacity expansions by leading manufacturers to cater growing regional demand will further support the market growth.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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