Press release
Tantalum Sputtering Target Market Report, Size, Share, Growth, Trends, Competitive Landscape to 2033
Tantalum Sputtering Target Market
The new report published by The Business Research Company, titled Tantalum Sputtering Target Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the tantalum sputtering target market size has grown strongly in recent years. It will grow from $5 billion in 2023 to $5.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The tantalum sputtering target market size is expected to see strong growth in the next few years. It will grow to $7.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
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What Is Driving The Growth Of The Global Tantalum Sputtering Target Market?
Rising Consumer Demand Fuels Growth In Electronic Device Manufacturing
The growth of the electronic device manufacturing industry is expected to propel the growth of the tantalum sputtering target market going forward. The electronic device manufacturing sector is an industry that produces electronic components and devices such as semiconductors, circuit boards, and consumer electronics. The expansion of the electronic device manufacturing industry is due to rising demand for electronics, rise in IoT-based products, and increased uses of consumer electronics goods in various sectors. Tantalum sputtering targets are crucial for producing thin films and coatings in electronics, enhancing the performance and reliability of electronic devices. For instance, in May 2023, according to a report published by the Japan Electronics and Information Technology Industries Association, a Japan-based trade association for the electronics and IT industries, electronic device production in May 2023 reached 272,154 million Japanese Yen ($1743.74 million), marking a 92.6% increase from the previous year. Therefore, the growth of the electronic device manufacturing industry is driving the growth of the tantalum sputtering target.
What Is The Key Trend In The Global Tantalum Sputtering Target Market?
Advancements in Tantalum Sputtering Targets and Fast-Charging Li-ion Batteries for Clean Energy Solutions
Major companies operating in the tantalum sputtering target market are advancing innovation for fast-charging Li-ion batteries to enhance performance and efficiency. A fast-charging lithium-ion (Li-ion) battery is a rechargeable battery designed to charge at a significantly higher rate than traditional Li-ion batteries. For instance, in February 2023, H.C. Starck, a Germany-based advanced materials company, launched tungsten powders for manufacturing fast-charging and safe Li-ion batteries. This powder includes applications in electric vehicles (EVs), grid storage systems for renewable energy, portable electronic devices such as smartphones and laptops, and various industrial applications requiring efficient energy storage solutions. Tungsten powders aim to enhance Li-ion batteries' performance, safety, and efficiency, enabling faster charging times, increased energy density, and an improved overall battery lifespan.
How Is The Global Tantalum Sputtering Target Market Segmented?
The tantalum sputtering target market covered in this report is segmented -
1) By Type: Low Purity Tantalum Sputtering Targets, High Purity Tantalum Sputtering Targets, Ultra-High Purity Tantalum Sputtering Targets
2) By Material: Pure Metal Targets, Alloy Targets, Compound Targets
3) By Application: Optical Disk, Solar Cells, Hard Coatings, Flat Panel Displays, Semiconductor, Optical Communications
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How Is The Competitive Landscape Of The Global Tantalum Sputtering Target Market?
Major companies operating in the tantalum sputtering target market are Honeywell International Inc., Plansee SE, Materion Corporation, H.C. Starck, Tosoh SMD Inc., Kurt J. Lesker Company, Stanford Advanced Materials, Metalysis, American Elements, Baoji Fitow Metal Co. Ltd., Nanoshel LLC, PLASMATERIALS, ACI Alloys, Admat Inc., Praxair Technology Inc., Shanghai Jiangxi Metals Co. Ltd., Vital Group, Advanced Engineering Materials Limited, ATT Advanced elemental materials Co. Ltd., Zhuzhou Xin Century New Material Co. Ltd., Tantalum India
Contents Of The Global Tantalum Sputtering Target Market
1. Executive Summary
2. Tantalum Sputtering Target Market Report Structure
3. Tantalum Sputtering Target Market Trends And Strategies
4. Tantalum Sputtering Target Market - Macro Economic Scenario
5. Tantalum Sputtering Target Market Size And Growth
…..
27. Tantalum Sputtering Target Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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