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Sputter coating is widely used for manufacturing thin films across different applications; it has experienced significant growth owing to technological advancements coupled with increasing demand from different industries. For example in automotive sector where manufacturers are looking for enhanced durability and performance on components from sputter-coated thin films.The electronics sector has favored sputter coatings due to its ability to apply precise uniform coat on various substrates hence perpetuating further growth in this field.
Among other factors shaping the future of the sputter coatings market are innovation as well as research and development activities. This is made possible by continuous efforts to increase coating efficiency, lower production costs and find new applications for these products. The industry better competitiveness is enhanced through the use of novel materials for sputter coatings coupled with improved deposition techniques. Further innovations are driven by partnerships between researchers and players in the field accelerating the creation of high-end sputter coating technologies.
Market dynamics are mainly shaped by customer preferences on one hand and end-user industries on another. Manufacturers are forced to change their offerings when industries change or demand for specialized coatings increases. In particular, customization and flexibility in sputter coating processes have become vital so that manufacturers can adjust their specifications to suit different uses. There has been an upward trend for biocompatible coatings in medical devices thus prompting a need for specialized solutions among sputter coating providers serving the health sector.
Also, the dynamics of the market are affected by competitive landscape that comprises of established players and new entrants. Intense competition forces companies to distinguish themselves through developing innovative technology, delivering quality products, and entering into strategic alliances. Mergers and acquisitions often feature in the expansion plans of key players who desire to increase their market shares as well as upgrade their technical capabilities. The global nature of the sputter coatings market makes strategic alliances and partnerships highly important to deal with regional differentiation in demand and regulatory concerns.
Technological advancements, economic factors, regulations/legislation governing it’s functioning across different jurisdictions, customer tastes & preferences alongside environment issues drive the complex dynamics underpinning sputter coatings industry globally. In order to leverage on opportunities that may arise while at same time confronting challenges faced today or tomorrow so that growth will be sustained and relevance maintained within global marketplace which is constant ever changing environment.
Sputter Coatings Market Highlights:
Global Sputter Coatings Market Overview
The global sputter coatings market was valued at USD 4.9 billion in 2018 and is expected to register a CAGR of 5.1% during the forecast period, 2019–2025. Sputtering is a technology involving the deposition of very thin film of electrically conductive materials with 3-5 µm thickness onto a substrate. Sputter coatings generate a transparent conductive oxide (TCO) film on the material. The electrically conductive materials or metals used are generally gold, silver, platinum, and palladium, among others. The range of substrates on which these coatings can be applied are insulators (glass, plastic), metals & dielectric, and semiconductors, among others. The material which is to be coated is called as sputter target, which is placed in a rotary or in a planar form. Sputter coating is a commonly employed for coating architectural glass, solar panels, consumer electronics displays, and automotive glasses, among others.
The escalating growth of the electricals & electronics industry in the developing economies due to the rising per-capita income, increasing consumer purchasing power, and lowering prices of electronics devices is fueling the growth of the sputter coatings market. The growth in the architectural construction in countries of Asia-Pacific and the Middle East & Africa are incorporating glass to a large extent, which in turn drives the demand for glass coatings, thus boosts the market for sputter coatings in these regions. The rising demand for functional and decorative coatings in the automotive & transportation industry is also contributing to the growth of the product market. Furthermore, the technological advances in healthcare are expected to provide growth impetus to the market in the coming years.
However, the high cost of electrically conductive material may restrain the market growth during the forecast period. Also, the technological barriers of sputter coating technology are challenging the market growth.
Market Segmentation The global sputter coatings market has been segmented based on target material, substrate,application, and region. Based on the target material, the market has been segmented into pure material, alloys, compounds, and others. On the basis of the substrate, the global sputter coatings market has been categorized into ceramic, metals & dielectric, glass, plastic, semiconductors, and others. By application, the market has been bifurcated into automotive & transportation, architecture, electrical & electronics, energy, and others.
Regional Analysis
Geographically, the global sputter coatings market has been studied with respect to five key regions, namely North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
Asia-Pacific dominated the global sputter coatings market in 2018 and is projected to continue its dominance during the forecast period. Some of the major electronics hubs, such as Japan, South Korea, and Taiwan, as well as due to the growing electronics demand from the emerging economies, such as China and India are driving the growth of the sputter coatings market in the region. Rising per capita disposable income, increasing consumer purchasing power, rising need for smart built up and thinner electronics, decreasing prices of electronics items, and lucrative government initiatives are some of the factors contributing to the growth of the electronics industry in the region. The continuous population expansion in countries such as India and China are propelling the demand for energy at a rapid pace, which, in turn, is fueling the demand for solar energy in the region. The rapid urbanization in the countries in Asia-Pacific are driving the demand for architectural glass coatings, thereby supporting the growth sputter coatings market. The growing automotive production and sales in the region due to the rising per-capita income and improving standards of living are also contributing to the product market growth.
North America accounted for the second-largest market share of the global sputter coatings market. The developed end-user industries such as automotive & transportation, electricals & electronics, solar energy sector, among others are significantly contributing to the growth of the product market. Moreover, the strict government regulation relating to the use of low emitting glass is a major boost to the market growth in the region. The US is majorly contributing to the regional market growth.
The European market is expected to show surge in demand for sputter coatings during the forecast period due to the growing encouragement by the government for the use of low emission glass.
The market in the Middle East & Africa and Latin America held the least market shares of the global market and are likely to show slow growth during the forecast period due to the slow economic growth in the regions.
Key Players
Some of the prominent players operating in the global sputter coatings market are JX Nippon Mining & Metals Corporation (Japan), Tosoh SMD, Inc. (US), Hitachi Metals, Ltd. (Japan), Mitsui Mining & Smelting Co., Ltd (Japan), Umicore (Belgium), Hereaus Deutschland Gmbh & Co. Kg. (Germany), Materion Corporation (US), IANGYIN ENTRET COATING TECHNOLOGY CO. LTD (China), Honeywell International Inc (US), and GRIKIN Advanced Materials Co. Ltd (China).Recent DevelopmentJan 2022 SDI Group PLC hardened 5.5% to 211p after it announced the acquisition of a UK manufacturer of physical vapor deposition equipment. The technology products firm paid roughly £4.9mln for Scientific Vacuum Systems (SVS), a market leader in the manufacture of sputter coaters for top brand razor blade coating. SVS is expected to make earnings before interest and tax of £700,000 or so in the year to the end of September 2021 on revenues of about £2.5mln. As a result of continued strong customer demand throughout December, the board now expects that underlying profit prior to tax for the 12 months to 31 January 2022 will be substantially ahead of existing market outlooks.
Intended Audience
- Sputter coatings market manufacturers
- Traders and distributors of sputter coatings
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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