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Complex Oxide Sputtering Target Market Report
Complex Oxide Sputtering Target Market Trends, Dynamics & Market Insights
The Complex Oxide Sputtering Target market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x% during the forecast period.
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Complex oxide sputtering targets are used to produce low-radiation coated glass also known as Low-E glass. It is being primarily used in the construction industry to save energy and control light. Based on type, complex oxide sputtering targets can be categorized as the microelectronic target, magnetic recording target, optical disk target, and others.
Key players operating in the Complex Oxide Sputtering Target market are-
The growth of complex oxide sputtering target market is primarily driven by widespread product use in numerous applications including telecommunications, defense & aerospace, automotive, and consumer electronics among others. The growing aerospace & defense industry in the developing countries is likely to drive the growth of the complex oxide sputtering target market at a significant rate during the review period. In addition to this, increasing demand for advanced complex oxide sputtering targets is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the complex oxide sputtering target market has been bifurcated into an integrated circuit, LCD screen, and others. Under these, the integrated circuit segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to high product demand in major end-use industries coupled with the presence of key market players such as American Elements (US) and ASM International (US). The market growth in the Asia-Pacific region is expected to be driven by the increasing adoption of complex oxide sputtering targets in the end-use industries in developing countries particularly China and India.
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the complex oxide sputtering target market negatively as the imposition of complete lockdown and restrictions on trade affected the product supply in the end-use industries for a short period.
Here is the list of the group of customers that the complex oxide sputtering targets market hopes to have the greatest opportunity to convert-
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American Elements (US), Heraeus (Germany), RHP-Technology GmbH (Germany), Plansee SE (Austria), ASM International (US), Kurt J. Lesker Company (US), Testbourne Ltd (UK), Huizhou Tian Yi Rare Material Co.,Ltd (US) are among the key players in the complex oxide sputtering market.
Widespread product use in numerous applications including telecommunications, defense & aerospace, automotive, and consumer electronics among others is the prime factor driving the growth of complex oxide sputtering target market.
The integrated circuit segment is expected to register significant growth in the complex oxide sputtering target market in the coming years.
North America accounted for the largest share in the complex oxide sputtering target market in 2020.
Complex oxide sputtering target distributors, Complex oxide sputtering target suppliers, Complex oxide sputtering target manufacturers, Logistics organizations, Government bodies are the target audience in the complex oxide sputtering target market.
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