Target materials are mainly used in planar display, photovoltaic, semiconductor, etc. In recent years, the market size of target material in China has grown rapidly. It is estimated that by 2026, the target material market in China is expected to exceed 65 billion yuan.
Target materials are mainly used in planar display, photovoltaic, semiconductor, etc
In the global target downstream application product portfolio, it mainly includes planar display target, solar photovoltaic target, magnetic recording target, semiconductor related target and so on. Among them, planar display target, solar photovoltaic target and semiconductor related target are three types of target with fast market growth and high prosperity.
The planar display target industry is expected to maintain high prosperity
In recent years, based on the consideration of product price, localization of procurement and other factors, Chinese LCD panel manufacturers have begun to selectively cooperate with local excellent sputtering target manufacturers and expect to establish long-term partnership, which provides favorable market conditions for the rapid development of China's sputtering target industry.
It is expected that from 2021 to 2026, the compound growth rate of China's planar display target material scale will maintain at about 15%-20%. By 2026, the market scale of China's planar display target material industry will reach 39.5 billion yuan.
The scale of target materials for solar cells is expected to grow rapidly
In recent years, China's solar photovoltaic industry has developed rapidly driven by the development of the global solar photovoltaic industry. With a relatively favorable production cost advantage, China has become the world's largest manufacturing base for solar cells and cell modules. At present, the domestic solar cells are mainly silicon coated solar cells, and the production of thin film cells remains to be increased. With the production of domestic thin film cell production line, China's solar cell sputtering target market will continue to grow.
It is expected that the scale of target materials used for solar cells in China is expected to continue to expand during 2021-2026, with a compound growth rate of about 15%-20%. By 2026, the market scale of target materials used for solar cells in China will reach 8.3 billion yuan.
The scale of semiconductor target material is expected to grow steadily
With the maturity of domestic sputtering target technology, the trend of semiconductor industry transfer to China has been basically established, and the rise of domestic semiconductor industry will promote the improvement of domestic demand for semiconductor target materials.
It is expected that the market size of semiconductor target materials in China will maintain a growth rate of 10%-15% during 2021-2026, and the market size of semiconductor target materials industry in China will reach 3.3 billion yuan in 2026.
The market size of target material industry is expected to exceed 65 billion in the future
In recent years, the market size of target material in China has grown rapidly. At the end of 2018, the duty-free period for imported target materials in China ended, and domestic substitution of semiconductors accelerated in recent years, leading to rapid growth of OLED market demand in the flat display field. It is estimated that by 2026, the market scale of target material industry in China will reach 65.3 billion yuan.