Global Ytterbium Sputtering Target Market Size, Share, and COVID-19 Impact Analysis, By Type (Long Target, Square Target, Circle Target, Special-shaped Target), By Application (Integrated Circuit, Information Storage, LCD Screen, Laser Memory), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The Ytterbium Sputtering Target Market was valued at USD 28.4 Bn in 2021. The market is projected to grow USD 37.2 Bn in 2028, at a CAGR of 5.2%. A sputtering target is a material that is used to create thin films in a technique known as sputter deposition, or thin film deposition. Arc-melting or radio-frequency melting of a mixture of metals in a vacuum or inert-gas atmosphere can easily produce multielemental alloy sputtering targets. Chipmakers in the global sputtering target market are shifting production capacity to healthcare applications in order to keep their firms afloat. Asian companies are projected to profit because there would be less direct influence on their home operations and markets. Manufacturers are progressively altering their product portfolios by assessing which applications and customer groups are likely to see significant changes in the near future. Sputtering target, in comparison to evaporation materials, is a relatively new type of coating material used in the solar industry for thin-film solar cell coatings. A thin-film solar cell is a second-generation solar cell made by layering tiny layers of thin-film (TF) or photovoltaic material over a substrate like metal, plastic, or glass. Controlling the removal and conversion of the target material into a directed plasma/gaseous phase through ionic bombardment, sputtering allows for thin layer deposition of an ultra-high purity sputtering metallic or oxide material onto another solid substrate. Chemical vapour deposition, semiconductors, and optical applications require ytterbium sputtering targets with the smallest feasible average grain sizes and the highest possible density.

COVID-19 ANALYSIS

The COVID-19 has a significant impact on the beverage can market's performance. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of high performance composites, influencing the management of the high performance composites supply chain. the COVID-19 outbreak's protracted length will have a substantial impact on the region's airport connectivity and economic sustainability, limiting the region's ability to achieve previously estimated growth possibilities. This chain of occurrences is expected to have a negative influence on the growth of the high performance composites market in the future years.

LATEST TREND

Shifting Manufacturing Capabilities to Healthcare Operations

Operating economies for the chipmakers in the sputtering target market are moving their resources to healthcare applications. Because there will be less immediate impact to their domestic operations and markets, Asian players are expected to benefit. Manufacturers are increasingly rebalancing their product portfolios by assessing which applications and client segments are likely to see significant changes in the near future.

DRIVING FACTORS

Increasing Usage of High Performance Materials to Lead Sputtering Targets for Photovoltaic

Manufacturers in the sputtering target market are unlocking development prospects in solar applications in addition to semiconductor and flat panel displays. By delivering high performance sputtering targets, H.C. Starck Solutions, a developer of high performance metal solutions, is capturing incremental opportunities in photovoltaic, touch screen, and electro-chromic glass applications. Companies who have extensive experience producing a unique combination of high-performance materials have a competitive advantage over their competitors. Improving the efficiency of refractory metals like tungsten, tantalum, and molybdenum.

R&D Accomplishments Help Excel in Production of Optical Devices

Companies in the sputtering target market are increasing their production capacity for optical film products. 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 recognising 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 that can be relied on.

RESTRAINTS

Fluctuating Price of Raw Materials Will Hamper the Growth of Ytterbium Sputtering Target Market

One of the major problems limiting market growth is the rising costs of raw materials. Despite these constraints, growing economies offer solid wire market players a plethora of fresh sales opportunities for future expansion is limiting the growth of the global ytterbium sputtering target market. The prices increased due to some factors such as sustainable green energy stimuluses, China’s economic recovery from the pandemic, and supply disruptions.

SEGMENTATION

The global ytterbium sputtering target market is segmented by Type (Long Target, Square Target, Circle Target, Special-shaped Target), By Application (Integrated Circuit, Information Storage, LCD Screen & Laser Memory) and Region. Based on the material, the market is categorized into long target, square target, target, special-shaped target. Based on application, the market is categorized into integrated circuit, information storage, lcd screen & laser memory. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

By Type

Based on the material segment, the global ytterbium sputtering target market is categorized into long target, square target, target, special-shaped target. The long target segment has dominated the market share in 2020 owing to the high usage of long target due to its long lasting shelf life to ytterbium sputtering target. The rise of sputtering targets manufacturers for their end customers involved in fabrication of components connected to the end use sectors would be aided by demand from automotive electronics, consumer electronics, and solar panels.

By Application

Based on the application segment, the global ytterbium sputtering target market is categorized into integrated circuit, information storage, lcd screen & laser memory. The integrated circuit held the largest market share of the global ytterbium sputtering target market attributing due to growing demand for thin-film manufacturing methods in the semiconductor sector and digital devices. Furthermore, during the review period, the ytterbium sputtering target finds enormous growth prospects in vapour deposition and optoelectronics.

REGIONAL INSIGHTS

The global Ytterbium Sputtering Target market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global ytterbium sputtering target market owing to the demand for stuttered thin film coating has increased due to the increased use of high-performance electronics. The need for sputtering targets has been spurred by the increased adoption of integrated circuits and other modern technologies like as mobile computing, IoT, and smart gadgets. However, Asia Pacific is expected to witness highest growth rate during the forecast period of ytterbium sputtering target market due to the rising population and urbanization activities. Rising industrial growth, environmental concerns, increased disposable income, and increasing adoption of advanced technology fueling the demand for global ytterbium sputtering target market.

INDUSTRY PLAYERS

• Kurt J. Lesker Company
• American Elements
• ALB Materials
• Heeger Materials
• SCI Engineered Materials
• Princeton Scientific Corp
• Konfoong Materials International Co., Ltd.
• JX Nippon Mining & Metals Corporation
• Vacuum Engineering and Materials Co.
• Sumitomo Chemicals Co., Ltd.
• Matsurf Technologies Inc.
• Honeywell International, Inc.
• NewFlex Technology
• Fujikura
• Daeduck GDS

SEGMENTATION

By Type

• Long Target
• Square Target
• Circle Target
• Special-shaped Target

By Application

• Integrated Circuit
• Information Storage
• LCD Screen
• Laser Memory

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa