[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

High Purity Tungsten Sputtering Target Market Report: Trends, Forecast and Competitive Analysis to 2030

September 2024 | 150 pages | ID: H075E538966EEN
Lucintel

US$ 4,850.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
2 – 3 business days after placing order

High Purity Tungsten Sputtering Target Trends and Forecast

The future of the global high purity tungsten sputtering target market looks promising with opportunities in the memory chip and logic chip markets. The global high purity tungsten sputtering target market is expected to reach an estimated $89 million by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increasing adoption in the semiconductor and solar cell manufacturing, increasing demand for electronic devices, and on-going advancements in nanotechnology.

Lucintel forecasts that 12 inch is expected to witness the higher growth over the forecast period due to growing demand for advanced electronic devices, including AI, IoT, and 5G technology applications.

Within this market, memory chip is expected to witness the highest growth due to ITS high melting point, low resistivity, and excellent diffusion barrier properties.

APAC is expected to witness highest growth over the forecast period due to rapid industralization, significantly growing solar industry, and the presence of major semiconductor manufacturing hubs in the region.

Emerging Trends in the High Purity Tungsten Sputtering Target Market

The high-purity tungsten sputtering target market is experiencing some emerging trends that are bringing changes in technology, application, and market dynamics. Identification of these trends will be an essential prerequisite for stakeholders who are either intent on adapting or surviving in the changing contours of the marketplace.
  • Increased Emphasis on Purity and Quality: More importance is now attached to the purification and quality enhancement of the tungsten sputtering target to meet the high-temperature, rigid specifications set by industries. Purification processes that are more effective have been employed in order to achieve the high performance and reliability needed in semiconductor and thin-film applications.
  • Semiconductor Applications Continue to Grow: Besides, the growth of the semiconductor industry propels the high-purity tungsten sputtering targets demand. Along with technological evolution, there is a need for high-quality targets in advanced coating and manufacturing processes of semiconductors, which drives the market's growth.
  • Development of Advanced Sputtering Techniques: The trends in sputtering techniques, including but not limited to HiPIMS, are highly evolving in nature and hence attract the interest of participants in this market. These advanced techniques result in higher quality and greater effectiveness of deposition and hence improved performance in thin-film applications.
  • Rising Demand in Renewable Energy: High-purity tungsten sputtering targets represent an increasing need related to new applications within the renewable energy segment, especially solar photovoltaics. These targets are employed in thin-film solar cell manufacturing; hence, their growth in the market increases for the energy segment.
  • Local Manufacturing Capabilities Expansion: The increasing investments into the local manufacturing facilities in countries such as China and India contribute to the dynamic impact of the market. It is beneficial for improving the reliability of the supply chain, while at the same time, it reduces costs, which positively influences the ability to meet the increasing demand for high-purity tungsten sputtering targets.
They have not only driven the improvement in purity but also expanded the use in application fields and promoted the development of sputtering technologies. Thus, the market is shifting in a direction that will involve more innovations and local productions in order to meet demands.

Recent Developments in the High Purity Tungsten Sputtering Target Market

Technological advancements and growing application needs are reflected in some recent developments in the market for high-purity tungsten sputtering targets. Some such key happenings are shaping the industry and influencing market dynamics.
  • Advanced Purification Techniques: Recent advancements in the development of various purification techniques have taken it to new heights in the tungsten sputtering target segment. New processing techniques reduce impurities within the sputtered material and ensure higher performance in a better manner. This helps in achieving the desired quality for semiconductors and thin-film applications.
  • Growth in Semiconductor Segment: The growth of the semiconductor industry increases the demand on leading companies supplying high-purity tungsten sputtering targets. Increased capacity in production and enhancements in technological innovation within semiconductors pushed the market for volume and innovation.
  • Sputtering Technology Developments: Innovations such as HiPIMS are advancing sputtering technology. Advancing coating quality and efficiency with such technologies also contributes to the fabrication of advanced electronic and thin-film devices.
  • Higher Degree of Local Production: Investments in local production facilities in countries like China and India raise market capacity. Local production reduces reliance on imports and enhances stability in the supply chain to meet the growing demand.
  • Growth in Renewable Energy Applications: Applications of high-purity tungsten sputtering targets are extending into renewable energy applications, particularly solar photovoltaics, which has created more market opportunities and driven further demand for high-quality sputtering targets.
This shows a dynamic shift in the market for high-purity tungsten sputtering targets due to changes in technological development, demand for semiconductors, and the growth of renewable energy applications. Such factors have given way to market strategies and opportunities.

Strategic Growth Opportunities for High Purity Tungsten Sputtering Target Market

The high-purity tungsen sputtering target market has a number of strategic growth opportunities in different applications. This is prompted by various technological innovations, with increasing demands coming from various key industries.
  • Semiconductor Manufacturing: The huge opportunity created by increased semiconductor manufacturing is another reason for a rise. Advanced semiconductor devices require high-purity tungsten sputtering targets, hence opening an opportunity for companies to better their presence in the market and develop more products.
  • Development of Thin-Film Technology: The development of thin-film technology in the area of electronics and coatings has created the opportunity to require high-purity tungsten sputtering targets. Such growth will be realized through target production responding to high-performance needs of advanced thin-film applications.
  • Renewable Energy Sector Diversification: The renewable energy sector, specifically solar photovoltaic, represents a growth field in its own right. High-purity tungsten sputtering targets find their application in the fabrication process of thin-film solar cells, thereby ensuring high demand and segment growth.
  • Development of High-Purity Material: There is a number of applications that require high-purity material. In short, companies prepared to make the highest-quality tungsten sputtering targets can find emerging markets requiring close tolerances and reliability in sophisticated technologies.
  • Investment in Local Manufacturing: Investment in regional production facilities can be another driver for market opportunities. The placing of manufacturing capability in strategic locations allows a company to reduce costs, secure the supply chain, and supply more to the local demand.
These emerging opportunities demonstrate the dynamism of the high-purity tungsten sputtering target market. Semiconductor manufacturing, thin-film technology, renewable energy, and local production-these are just some of the strategic focuses that fuel growth and innovation within the market.

High Purity Tungsten Sputtering Target Market Driver and Challenges

The high-purity tungsten sputtering target market corresponds to a series of drivers and challenges. Technological, economic, and regulatory factors play a great role in shaping market dynamics and strategies in the market.

The factors responsible for driving the high purity tungsten sputtering target market include:

1. Technological Advances: Continuous improvement in sputtering technology and the purification process has been increasing the yield and quality of tungsten sputtering targets. This will, in turn, spur market growth due to the fact that such changes enable the fabrication of high-performance semiconductor and thin-film devices.

2. Growing Demand for Semiconductors: The semiconductor industry is growing with the growing demand for high-purity tungsten sputtering targets. As semiconductor technologies are getting advanced, the requirements for accurate and reliable sputtering materials have increased, thus enhancing the opportunities in the respective market segment.

3. Growth in Use within the Electronics Sector: The increasing use of high-purity tungsten sputtering targets in electronic applications, especially in highly sophisticated devices and thin-film coatings, has proven to be a growth factor for the market. This helps in developing new applications and technologies also.

Challenges in the high purity tungsten sputtering target market are:

1. High Production Cost: One of the major entry barriers for new entrants in this market, high production cost in preparing high-purity tungsten sputtering targets remains a challenge. The process would involve cost regarding raw material, manufacturing, and quality control.

2. Adherence to Regulations: While strict regulation related to material purity and environmental standards poses a challenge, the need for added investment and modification of manufacturing processes to meet these regulations creates a factor in market dynamics.

3. Market Competition: Strong competition amongst manufacturers due to low profitability and low market share for each. The firms have to keep attempting innovative products with unique features continuously in order to keep their viability and respond to price pressures

Drivers and challenges are an intricate ecology for technological, industrial, and regulatory factors that are deeply interwoven in the value chain of the high-purity tungsten sputtering target market. Capturing these drivers and surmounting such obstacles are the most viable means whereby any firm can try to find its way to success and growth in the ever-changing contours of a market.

List of High Purity Tungsten Sputtering Target Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies high purity tungsten sputtering target companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the high purity tungsten sputtering target companies profiled in this report include-
  • JX Metals
  • Tosoh
  • Honeywell
  • Linde
  • ULVAC
  • Materion
  • Umicore Materials
High Purity Tungsten Sputtering Target by Segment

The study includes a forecast for the global high purity tungsten sputtering target by type, application, and region.

High Purity Tungsten Sputtering Target Market by Type [Analysis by Value from 2018 to 2030]:
  • 8 Inch
  • 12 Inch
High Purity Tungsten Sputtering Target Market by Application [Analysis by Value from 2018 to 2030]:
  • Memory Chips
  • Logic Chips
  • Others
High Purity Tungsten Sputtering Target Market by Region [Analysis by Value from 2018 to 2030]:
  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World
Country Wise Outlook for the High Purity Tungsten Sputtering Target Market

In the recent past, the high purity tungsten sputtering target market has gone through remarkable changes owing to continuous improvement in technologies, growing demand of its end use industry like electronics and manufacturing, and regional dynamics. The dramatic changes indicate fluctuating demands of high-performance material applications in the semiconductor and thin film application areas.
  • United States: It finds applications in the U.S. due to a surge in demand for high-purity tungsten sputtering targets with advances in semiconductor manufacturing and electronics. Additional investments have gone toward advanced and upgraded processes in order to develop these targets with better quality to meet standards within an industry that is strictly demanding for the growing electronics industry.
  • China: The demand for high-purity tungsten sputtering targets in China is on the rise due to its leading semiconductor industry. The country's reduced reliance on imported materials can be attributed, in part, to investments in domestic production, yielding higher quality targets. Emphasis shifts to the production of more output at lower costs.
  • Germany: Other current focuses of Germany in the high-purity tungsten sputtering target market involve further improvement of the quality and performance of such targets in order to accommodate/support the advanced manufacturing and automotive industries. Companies in Germany are investing in R&D to innovate new materials and develop better durability and efficiency in sputtering targets.
  • India: All the growth in the electronics and photovoltaic sectors in India has created overwhelming demand for the tungsten sputtering targets of high purity. Besides target quality improvement, local manufacturing of the targets has been in development to supply this emerging semiconductor and solar energy market.
  • Japan: Japan remains a leading country in supplying high-purity tungsten sputtering targets for use in high-tech electronics and aerospace applications. Japanese manufacturers continue to be involved in the further development of sputtering target technology to achieve the incredibly high standards required by newer technologies and to be competitive.
Features of the Global High Purity Tungsten Sputtering Target Market

Market Size Estimates: High purity tungsten sputtering target market size estimation in terms of value ($M).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: High purity tungsten sputtering target market size by type, application, and region in terms of value ($M).

Regional Analysis: High purity tungsten sputtering target market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the high purity tungsten sputtering target market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the high purity tungsten sputtering target market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

If you are looking to expand your business in this market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

FAQ

Q1. What is the high purity tungsten sputtering target market size?

Answer: The global high purity tungsten sputtering target market is expected to reach an estimated $89 million by 2030.

Q2. What is the growth forecast for high purity tungsten sputtering target market?

Answer: The global high purity tungsten sputtering target market is expected to grow with a CAGR of 4.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the high purity tungsten sputtering target market?

Answer: The major drivers for this market are increasing adoption in the semiconductor and solar cell manufacturing, increasing demand for electronic devices, and on-going advancements in nanotechnology.

Q4. What are the major segments for high purity tungsten sputtering target market?

Answer: The future of the high purity tungsten sputtering target market looks promising with opportunities in the memory chip and logic chip markets.

Q5. Who are the key high purity tungsten sputtering target market companies?

Answer: Some of the key high purity tungsten sputtering target companies are as follows:
  • JX Metals
  • Tosoh
  • Honeywell
  • Linde
  • ULVAC
  • Materion
  • Umicore Materials
Q6. Which high purity tungsten sputtering target market segment will be the largest in future?

Answer: Lucintel forecasts that 12 inch is expected to witness the higher growth over the forecast period due to growing demand for advanced electronic devices, including AI, IoT, and 5G technology applications.

Q7. In high purity tungsten sputtering target market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rapid industralization, significantly growing solar industry, and the presence of major semiconductor manufacturing hubs in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the high purity tungsten sputtering target market by type (8 inch and 12 inch), application (memory chip, logic chip, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

For any questions related to High Purity Tungsten Sputtering Target Market, High Purity Tungsten Sputtering Target Market Size, High Purity Tungsten Sputtering Target Market Growth, High Purity Tungsten Sputtering Target Market Analysis, High Purity Tungsten Sputtering Target Market Report, High Purity Tungsten Sputtering Target Market Share, High Purity Tungsten Sputtering Target Market Trends, High Purity Tungsten Sputtering Target Market Forecast, High Purity Tungsten Sputtering Target Companies, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.

Market Report
1. EXECUTIVE SUMMARY

2. GLOBAL HIGH PURITY TUNGSTEN SPUTTERING TARGET MARKET : MARKET DYNAMICS

2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. MARKET TRENDS AND FORECAST ANALYSIS FROM 2018 TO 2030

3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global High Purity Tungsten Sputtering Target Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global High Purity Tungsten Sputtering Target Market by Type
  3.3.1: 8 Inch
  3.3.2: 12 Inch
3.4: Global High Purity Tungsten Sputtering Target Market by Application
  3.4.1: Memory Chips
  3.4.2: Logic Chips
  3.4.3: Others

4. MARKET TRENDS AND FORECAST ANALYSIS BY REGION FROM 2018 TO 2030

4.1: Global High Purity Tungsten Sputtering Target Market by Region
4.2: North American High Purity Tungsten Sputtering Target Market
  4.2.1: North American High Purity Tungsten Sputtering Target Market by Type: 8 Inch and 12 Inch
  4.2.2: North American High Purity Tungsten Sputtering Target Market by Application: Memory Chip, Logic Chip, and Others
4.3: European High Purity Tungsten Sputtering Target Market
  4.3.1: European High Purity Tungsten Sputtering Target Market by Type: 8 Inch and 12 Inch
  4.3.2: European High Purity Tungsten Sputtering Target Market by Application: Memory Chip, Logic Chip, and Others
4.4: APAC High Purity Tungsten Sputtering Target Market
  4.4.1: APAC High Purity Tungsten Sputtering Target Market by Type: 8 Inch and 12 Inch
  4.4.2: APAC High Purity Tungsten Sputtering Target Market by Application: Memory Chip, Logic Chip, and Others
4.5: ROW High Purity Tungsten Sputtering Target Market
  4.5.1: ROW High Purity Tungsten Sputtering Target Market by Type: 8 Inch and 12 Inch
  4.5.2: ROW High Purity Tungsten Sputtering Target Market by Application: Memory Chip, Logic Chip, and Others

5. COMPETITOR ANALYSIS

5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis

6. GROWTH OPPORTUNITIES AND STRATEGIC ANALYSIS

6.1: Growth Opportunity Analysis
  6.1.1: Growth Opportunities for the Global High Purity Tungsten Sputtering Target Market by Type
  6.1.2: Growth Opportunities for the Global High Purity Tungsten Sputtering Target Market by Application
  6.1.3: Growth Opportunities for the Global High Purity Tungsten Sputtering Target Market by Region
6.2: Emerging Trends in the Global High Purity Tungsten Sputtering Target Market
6.3: Strategic Analysis
  6.3.1: New Product Development
  6.3.2: Capacity Expansion of the Global High Purity Tungsten Sputtering Target Market
  6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global High Purity Tungsten Sputtering Target Market
  6.3.4: Certification and Licensing

7. COMPANY PROFILES OF LEADING PLAYERS

7.1: JX Metals
7.2: Tosoh
7.3: Honeywell
7.4: Linde
7.5: ULVAC
7.6: Materion
7.7: Umicore Materials


More Publications