Global Precious Metal Sputtering Targets Market Report 2021-2030 - Precious Metal Sputtering Targets Usage in Medical Devices and Products - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Precious Metal Sputtering Targets Market - Market Size & Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global precious metal sputtering targets market was valued at USD 1,044.7 million in 2021 and is expected to reach USD 1,576.7 million by 2030 at a CAGR of 4.68% during the forecast period. However, without the COVID-19 impact, the global precious metal sputtering targets market was estimated to value at USD 1,187.8 million in 2021 and reach USD 1,891.2 million by 2030 at a CAGR of 5.30% during the forecast period.

The precious metal sputtering targets are used for the preparation of thin films in electronics devices, solar cell coating in solar industry, conductor & protective layer in semiconductors, low emission coated glass in glass industry, surface strengthening of tools & molds in tooling and coating of mobiles, watches & hardware products as a decoration. These are the main applications of sputtering targets, which are also driving the market growth during the forecast period.

Gold, Silver, Platinum, and other precious metal materials are broadly used in the semiconductor as well as microelectronics industries due to their good performance characteristics. Integrated circuits, liquid crystal display screens, information storage, electronic control devices, laser memory, and other electronic and information industries use precious metal sputtering targets. Thus, the growth of electronic industry is enhancing the market growth.

The automobile industry has positively influenced the Platinum group metals. The metals like Platinum, Palladium, and Rhodium are extensively used as catalytic converters in the vehicle as they filter out harmful gases. Thus, growing industrialization, urbanization, and increasing demand for vehicles are driving the market growth during the forecast period.

The increasing use of precious metal sputtering targets in wear-resistant materials, high-grade decorative products, high-temperature corrosion resistance, and other industries are boosting the market growth. However, high costs of maintaining precious metal sputtering targets, as well as unfavorable conditions resulting from COVID-19's impact, are limiting the market's growth.

Although, growing R&D activities in the electronics sector, as well as increased investment in the field of precious metal sputtering targets in African countries, are expected to create opportunities for the market during the forecast period.

Market Dynamics

Key Industry Trends

• Precious Metal Sputtering Targets Usage in Medical Devices and Products
• Precision Optical Coatings
• Electronics and Semiconductors
• Ruthenium Sputtering Targets, (Ru) Use in Chemical and Electronic Industry
• Precious Metal Sputtering Targets Used in Decorative Coatings

Drivers

• Growing Demand for Catalytic Converters from the Automotive Industry
• Increasing Demand for Precious Metal Sputtering Targets from Electronics Industry

Restraints

• High Costs Involved in Maintenance

Opportunities

• Growing Demand for Jewellery in Asia-Pacific Countries

Challenges

• Threat of Substitutes

Technological Advancement

• Developing High Quality Pvd
• Magnetron Sputtering
• Sintering Technology
• Thermal Spray as a Sputter Target Production Method

Guidelines & Regulations

• Astm (American Society of Testing and Materials) Specification

Competitive Analysis for Platinum Group (Pgm) Targets

Companies Mentioned

• Furuya Metal Co Ltd
• Umicore
• Materion Corporation
• Praxair Technology Inc
• Tanaka Holdings Co Ltd
• Ulvac Technologies Inc
• Grikin Advanced Material Co Ltd
• Stanford Advanced Material
• Reliable Corporation
• Vacuum Engineering & Materials
• Plasmaterials Inc
• China Rare Metal Material Co Ltd
• Heesung Pmtech
• Kurt J
• Lesker Company
• Jx Nippon Mining & Metals Corporation
• Angstrom Sciences Inc
• American Elements
• Able Target Limited
• Alb Materials Inc
• Fushel
• Xi 'An Function Material Group Co.

For more information about this report visit https://www.researchandmarkets.com/r/ocf4lc

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