Sputtering Targets for Magnetic Device Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 3.1 Billion by 2030, growing at a CAGR of 9.5% from 2024 to 2030.
During 2023 to 2033, the market for sputtering targets is expected to continue its upward trajectory, though with shifts in demand patterns. As industries push for greener technologies, magnetic devices utilizing sputtering targets are becoming more prevalent in solar energy systems, electric vehicles, and data storage. The increasing reliance on clean and sustainable technologies, particularly within the renewable energy sector, has amplified the need for specialized sputtering targets in magnetic devices. Similarly, automotive manufacturers incorporating more magnetic devices into electric powertrains are driving demand for high-quality sputtering targets to meet production standards.
The magnetic device industry’s increasing demand for sputtering targets is supported by the growing use of these materials in innovative technologies like spintronics, which revolutionize data storage and processing. As manufacturers strive for greater energy efficiency and precision in magnetic devices, the quality and performance of sputtering targets become essential. By 2033, the market is expected to see an influx of new players aiming to meet the ever-growing demand, with advancements in the materials used for sputtering targets, such as high-purity metals, alloys, and composite materials.
Factors like geographical demand variation also contribute to market shifts. While North America and Europe are anticipated to witness stable demand from industries already established, regions like Asia-Pacific and Latin America are seeing rapid industrial growth. This increase in demand from emerging markets will be driven by local production of advanced magnetic devices. These regions are expected to take a leading role in the evolution of sputtering targets for magnetic devices due to their manufacturing hubs and supply chains.
Get an In-Depth Research Analysis of the Global Sputtering Targets for Magnetic Device Market Size And Forecast [2025-2032]
The Sputtering Targets for Magnetic Device Market from 2018 to 2022 saw notable growth driven by advancements in magnetic devices and increased demand across industries like electronics, automotive, and renewable energy. With rapid technological evolution in these fields, the need for high-performance sputtering targets became crucial. Magnetic devices, which rely heavily on the precision of sputtering targets, experienced a surge in adoption during this period. The market capitalized on the demand for more durable, cost-effective, and high-quality sputtering targets used in producing thin films for various applications.
Kurt J. Lesker
JX Nippon Mining & Metals Group
MSE Supplies LLC
FURUYA METAL
Materion
Proterial
Angstrom Sciences
Plasmaterials
Hurricane
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Sputtering Targets for Magnetic Device Market
Hard Disk Drive
Sensor
Others
Based on Types the Market is categorized into Below types that held the largest Sputtering Targets for Magnetic Device market share In 2023.
Cobalt-Chromium-Platinum Oxide Targets
Iron-Platinum Targets
Manganese Alloy Target
Iron Alloy Targets
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Sputtering Targets for Magnetic Device Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Sputtering Targets for Magnetic Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Sputtering Targets for Magnetic Device Market, By Type
6. Global Sputtering Targets for Magnetic Device Market, By Application
7. Global Sputtering Targets for Magnetic Device Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Sputtering Targets for Magnetic Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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