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Target is a material that is used to create a thin layer in a technique called as sputter deposition or film deposition. While carrying out this process, the target material which starts as a solid is further broken by gaseous ions in small particles which is used to coat or spray any substrate or surface. This is generally used to create semiconductor and computer chips and hence target materials are generally metallic elements or alloys. Targets are generally circular or rectangular in shape, but size and shape can vary as per the requirements. The effectiveness of the target material depends upon various factors like the composition and types of ions used to breakdown the material.
The increasing adoption of nickel oxide target for metallization of solar cells shall foster the market growth. The enhanced performance of solar cell on deposition of nickel or solder metallization shall create a positive impact on the demand for nickel oxide target. Additionally, the demand from semi-conductor industries for manufacturing microchips, memory chips, flat panel displays, print heads and other shall drive the market.
However, nickel oxide particles are green in color and highly toxic in nature. Prolonged exposure can cause allergic skin reaction and possible damage to organs. The toxic nature of nickel oxide is expected to hinder the market growth.
Key Market Driver -
Increasing adoption in solar cell metallization.
Key Market Restraint -
Toxic nature of nickel oxide particles.
Based on type, the market is segmented into plane target and rotating target. Based on end-use, the market is segmented into solar energy industry, automobile industry, display industry, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global nickel oxide target market consists of global & regional players operating. Some of the key players in the market include Kurt J. Lesker Company (KILC), Able Target Limited, Jinxing Metals, Kehong Material, ACI Alloys, Testbourne, Stanford Advanced Materials, Cathay Advanced Materials Limited, Admat, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to hold the largest share in the market. The extensive R&D in the techniques and materials for enhanced performance of solar cells shall drive the regional market. Additionally, the increasing demand from semi-conductor application areas to produce microchips and memory chips shall impact positively. Asia-Pacific is anticipated to hold second-largest share due to the increasing adoption of solar energy as cleaner and sustainable source of energy. Europe is expected to grow considerably due to the high demand from industrial sector. Latin America and Middle East and Africa are expected to show sluggish growth by the end of the forecast period.
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