Summary

This report covers the sputtering targets and supply-chain for key metals used in semiconductor device fabrication. The report contains data and analysis from TECHCET’s data base and Sr. Analyst experience, as well as that developed from primary and secondary market research. Sputtering targets are critical in semiconductor manufacturing as sputtering allows the deposition of different materials to form interconnects, barriers layers, and other films for semiconductor devices, MEMS, and sensors.

Report Details

• Provides a detailed look and analysis of the sputter targets market and supply chain
• as applied to semiconductor device manufacturing
• Included are raw material supply chain dynamics and companies, target manufacturing cost considerations, pricing trends and more
• Provides focused information for supply-chain managers, process integration and R&D directors, as well as business development and financial analysts
• Covers information about key sputter target suppliers, issues/trends in the electronics material supply chain, estimates on supplier market share, and forecast for the electronic material segments

 

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Table of Contents

1 EXECUTIVE SUMMARY   11

1.1 TARGET BUSINESS - MARKET OVERVIEW                         12
1.2 TARGET MARKET TRENDS IMPACTING 2023 OUTLOOK               13
1.3 TECHNOLOGY TRENDS                                         14
1.4 TARGET MARKET FORECAST                                    15
1.5 COMPETITIVE LANDSCAPE                                     16
1.6 EHS ISSUES/CONCERNS                                       18
1.7 TARGET MARKET ASSESSMENT                                  19

2 SCOPE, PURPOSE AND METHODOLOGY   21

2.1 SCOPE                                                     22
2.2 PURPOSE                                                   23
2.3 METHODOLOGY                                               24
2.4 OVERVIEW OF OTHER TECHCET CMR? REPORTS                    25

3 SEMICONDUCTOR INDUSTRY MARKET STATUS & OUTLOOK    26

3.1 WORLDWIDE ECONOMY AND OUTLOOK                             27
3.1.1 SEMICONDUCTOR INDUSTRIES TIES TO THE GLOBAL ECONOMY     29
3.1.2 TAIWAN OUTSOURCE MANUFACTURER MONTHLY SALES TRENDS      30
3.1.3 SEMICONDUCTOR SALES GROWTH                              31
3.2 CHIPS SALES BY ELECTRONIC GOODS SEGMENT                   32
3.2.1 SMARTPHONES                                             33
3.2.2 PC UNIT SHIPMENTS                                       33
3.2.3  SERVERS / IT MARKET                                    37
3.3 SEMICONDUCTOR FABRICATION GROWTH & EXPANSION              38
3.3.1 FAB EXPANSION ANNOUNCEMENT SUMMARY                      39
3.3.2 WW FAB EXPANSION DRIVING GROWTH                         41
3.3.3 EQUIPMENT SPENDING TRENDS                               42
3.3.4 TECHNOLOGY ROADMAPS                                     43
3.3.5 FAB INVESTMENT ASSESSMENT                               44
3.4 POLICY & TRADE TRENDS AND IMPACT                          45
3.5 SEMICONDUCTOR MATERIALS OVERVIEW                          46
3.5.1 COULD MATERIALS CAPACITY LIMIT CHIP PRODUCTION
SCHEDULES?                                                    47
3.5.2 LOGISTICS ISSUES EASED DOWN                             48
3.5.3 TECHCET WAFER STARTS FORECAST THROUGH 2027              49
3.5.4 TECHCET’S MATERIAL FORECAST                             50

4 SPUTTERING TARGET MARKET LANDSCAPE AND FORECAST   51

4.1  CY2023 MARKET LANDSCAPE HIGHLIGHTS                       52
4.2 MARKET STATISTICS & FORECASTS                             53
4.3 FORECAST METHODOLOGY                                      54
4.3.1 TARGET MARKET FORECAST                                  55
4.3.2 2023 TARGET MARKET SIZE BY TYPE                         56
4.3.3 ESTIMATE FOR PRECIOUS METAL TARGET MARKET               57
4.3.4 TOTAL SPUTTERING TARGET MARKET FORECAST                 58
4.3.5 COPPER MARKET FORECAST                                  59
4.3.6 TANTALUM MARKET FORECAST                                62
4.3.7 ALUMINUM MARKET FORECAST                                63
4.3.8 TITANIUM MARKET FORECAST                                64
4.3.9 NIV, AL, AG, AU, TI TARGETS USED IN POWER DEVICES -
WIDE BAND GAP DEVICES                                         65
4.3.10 TARGET METAL FORECAST BY POWER DEVICE TYPE             67
4.3.11 TARGET METAL FORECAST FOR SIC AND GAN
POWER DEVICES                                                 68
4.4 SUPPLIER MARKET SHARE AND ACTIVITY                        69
4.4.1 TARGET SUPPLIER UPDATES - 1 OF 3                        70
4.4.2 TARGET COMPANY UPDATES - 2 OF 3                         71
4.4.3 RUTHENIUM TARGET SUPPLIERS                              72
4.5 COMMENT ON REGIONAL TRENDS/DRIVERS                        73
4.5.1 REGIONAL TRENDS AND ISSUES                              74
4.5.2 SPUTTERING TARGET PRODUCTION LOCATIONS?
 REGIONAL TRENDS                                              75
4.5.3 REGIONAL MARKET SIZE AND TRENDS                         76
4.6 METAL TARGET COST STRUCTURE                               77
4.7 EHS/SUSTAINABILITY, REGULATIONS, AND LOGISTIC ISSUES      78
4.8 M&A ACTIVITY AND PARTNERSHIPS                             79
4.9 PLANT CLOSURES - NONE                                     80
4.10 NEW ENTRANTS- NONE                                       81
4.11 RISKS & DISCONTINUATIONS                                 82
4.12 TECHCET ANALYST ASSESSMENT OF TARGET SUPPLIERS
AND MARKET                                                    83

5 SUB-TIER SUPPLY-CHAINS   84

5.1 COPPER (CU) METAL- RAW MATERIAL                           85
5.1.1 CU METAL-  RAW MATERIAL SUPPLY CHAIN                    86
5.1.2 CU METAL- MARKET DEMAND                                 87
5.1.3  CU DEMAND IN VEHICLES                                  88
5.1.4 LME CU METAL PRICING                                    89
5.2 TANTALUM (TA)- RAW MATERIAL                               90
5.2.1 TA METAL- MINING SUPPLY CHAIN TRENDS                    91
5.2.2 TA METAL- GLOBAL DEMAND                                 92
5.2.3 TA METAL- CLOSED MARKET ECONOMICS                       93
5.3 ALUMINUM (AL) METAL- BAUXITE AND ALUMINA MINING           94
5.3.1 AL METAL- SMELTING                                      95
5.3.2 AL METAL- GLOBAL DEMAND                                 96
5.3.3 LME AL METAL PRICING                                    97
5.4 TITANIUM (TI) METAL-  TI MINERAL CONCENTRATE              98
5.4.1 TI MINERAL CONCENTRATE PRICING                          99
5.4.2 TI METAL- MILL PRODUCT DEMAND                           100
5.4.3 TI METAL-SPONGE PRODUCTION AND CAPACITY                 101
5.4.4 TI METAL-SPONGE PRODUCTION AND CAPACITY                 102
5.4.5 TI METAL MARKET TRENDS- RUSSIA/UKRAINE CONFLICT         103
5.4.6 TI METAL- TI SPONGE FOR SEMICONDUCTOR                   104
5.4.7 TI METAL-  TI SPONGE PRODUCTION ACTIVITY IN CHINA       105
5.5 TUNGSTEN (W) METAL- MINING                                106
5.5.1 W METAL- GLOBAL DEMAND                                  107
5.5.2 W SUPPLY CHAIN AND CHINA                                108
5.5.3 W METAL- HIGH PURITY W POWDER SUPPLIERS                 109
5.5.4 W METAL PRICING                                         110
5.6 COBALT (CO)  METAL- MINING                                111
5.6.1 CO METAL- DEMAND                                        112
5.6.2 CO METAL PRICING                                        113
5.7 MOLYBDENUM (MO)  METAL- MINING                            114
5.7.1 GENERALIZATION OF MO SUPPLY CHAIN                       115
5.7.2 MO APPLICATIONS                                         116
5.8 PRECIOUS METALS- GOLD (AU) MINING PRODUCTION              117
5.8.1 PRECIOUS METALS- SILVER (AG) MINING                     118
5.8.2  PRECIOUS METALS CONSUMPTION BY APPLICATIONS            119
5.8.3 PRECIOUS METAL SUPPLY/DEMAND TRENDS                     120
5.8.4 PRECIOUS METAL PRICING                                  121
5.8.5 PRECIOUS METAL PRICING                                  122
5.8.6 HIGH-PURITY MANGANESE (MN)                              124
5.9 SUB-TIER SUPPLY-CHAIN: DISRUPTIONS                        125
5.10 SUB-TIER SUPPLY-CHAIN M&A ACTIVITY                       126
5.11 SUB-TIER SUPPLY-CHAIN EHS AND LOGISTICS ISSUES           127
5.12 SUB-TIER SUPPLY-CHAIN TECHCET ANALYST ASSESSMENT         128
5.12.1 SPUTTER TARGETS SUB-TIER MARKET ASSESSMENT             129

6  TECHNICAL DRIVERS/MATERIAL CHANGES AND TRANSITIONS 130

6.1 300 MM TARGET MARKET SEGMENT DRIVERS DEVICES              131
6.1.1 200 MM TARGET MARKET SEGMENT DRIVERS                    132
6.1.2 LOGIC - GENERAL PROCESS FLOW LOGIC PVD 10 NM & BELOW    133
6.1.3 GENERAL PROCESS FLOW ADVANCED DRAM                      135
6.2 NEW DEVELOPMENTS IN THE TECHNOLOGY OR MARKETS:
UNIVERSITY AND SUPPLIER R&D IN 5-7 YEARS                      136
6.2.1 POWER RAIL                                              137
6.2.2 SPECIALTY (STT MRAM, FE RAM, OTHER) MEMORY
PVD MATERIALS                                                 138
6.2.3 PIEZOELECTRIC MATERIALS - PZT                           142

7 SUPPLIER PROFILES   144

FURUYA METAL CO
GO ELEMENT
GRIKIN
HONEYWELL
HUIZHOU TOP METAL MATERIAL (TOPM)
...and 15+ more

8 APPENDICES 145

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List of Tables/Graphs

TABLE OF FIGURES

FIGURE 1: TOTAL SPUTTERING TARGET MARKET REVENUES             12
FIGURE 2: SEMICONDUCTOR TARGET MARKET FORECAST                15
FIGURE 3 : GLOBAL ECONOMY AND THE ELECTRONICS SUPPLY
CHAIN  (2022)                                                 29
FIGURE 4:  3- MONTH AVERAGE MONTHLY SALES FROM TAIWAN
(TSMC, UMC, VIS, ASE GLOBAL, CHIPMOS, KYEC)                   30
FIGURE 5: WORLDWIDE SEMICONDUCTOR SALES                       31
FIGURE 6: 2022 SEMICONDUCTOR CHIP APPLICATIONS                32
FIGURE 7: MOBILE PHONE SHIPMENTS WW ESTIMATES                 33
FIGURE 8: WORLDWIDE PC AND TABLET FORECAST                    34
FIGURE 9: ELECTRIFICATION TREND BY WORLD REGION               35
FIGURE 10: SEMICONDUCTOR AUTOMOTIVE PRODUCTION                36
FIGURE 11: TSMC PHOENIX INVESTMENT ESTIMATED WILL BE US $40B  37
FIGURE 12: CHIP EXPANSIONS 2022-2027 US $366B                 39
FIGURE 13: SEMICONDUCTOR CHIP MANUFACTURING   
REGIONS OF THE WORLD                                          41
FIGURE 14: GLOBAL TOTAL EQUIPMENT SPENDING
BY SEGMENT (US$ B)                                            42
FIGURE 15: OVERVIEW OF ADVANCED LOGIC DEVICE
TECHNOLOGY ROADMAP                                            43
FIGURE 16: INTEL OHIO PLANT SITE FEB. 2023 AND ARTIST
RENDERING (ON BOTTOM)                                         44
FIGURE 17: EUROPE CHIP EXPANSION UPSIDE                       47
FIGURE 18: PORT OF LA                                         48
FIGURE 19:  TECHCET WAFER START FORECAST BY NODE              49
FIGURE 20:  GLOBAL SEMICONDUCTOR MATERIALS OUTLOOK            50
FIGURE 21: SPUTTERING TARGET MARKET FORECAST                  55
FIGURE 22: ESTIMATED 2023 SPUTTERING TARGET MARKET SIZE BY
MATERIAL SEGMENT (IN US$ MILLIONS)                            56
FIGURE 23: PRECIOUS METAL TARGET FORECAST (AFTER PRECIOUS
METAL VALUE PASS THROUGH)                                     57
FIGURE 24: TOTAL METAL TARGET FORECAST (AFTER PRECIOUS
METAL VALUE PASS THROUGH                                      58
FIGURE 25: SPUTTERING TARGET MARKET FORECAST                  59
FIGURE 26: ESTIMATE OF 2022 CU TARGET SALE BY TYPE            60
FIGURE 27: ESTIMATE CU AND  TA TARGETS SALES BY LOGIC NODE    61
FIGURE 28: TA SPUTTERING TARGET MARKET FORECAST               62
FIGURE 29: AL SPUTTERING TARGET MARKET FORECAST               63
FIGURE 30: TI SPUTTERING TARGET MARKET FORECAST               64
FIGURE 31: 2022 POWER DEVICE TARGET MARKET SIZE               67
FIGURE 32: 2027 FORECASTED POWER DEVICE MARKET SIZE           67
FIGURE 33: 2022 TARGET MARKET SIZE FOR SIC AND GAN
POWER DEVICES                                                 68
FIGURE 34: 2027 FORECASTED TARGET MARKET SIZE FOR SIC AND
GAN POWER DEVICES                                             68
FIGURE 35: EST. 2022 SUPPLIER MARKET SHARE(EXCLUDING
PRECIOUS METALS)                                              69
FIGURE 36: 2022 REGIONAL SHARE (AS A % OF TOTAL TARGET
DEMAND BY USD)                                                73
FIGURE 37: 2021 EST. GLOBAL CU MINE PRODUCTION 21 MILLION MT  85
FIGURE 38: 2022 EST. GLOBAL REFINED CU CONSUMPTION
25 MILLION MT                                                 87
FIGURE 39:  ESTIMATE COPPER CONSUMPTION BY VEHICLE TYPE
(KG PER VEHICLE)                                              88
FIGURE 40: LME CU PRICE CHART                                 89
FIGURE 41: 2022 EST. TANTALUM MINE PRODUCTION 2000 MT         90
FIGURE 42: 2021 TANTALUM APPLICATION (~2,200 T)               92
FIGURE 43: EST. WORLD BAUXITE MINING PRODUCTION
2022 380 MILLION MT                                           94
FIGURE 44: EST. WORLD ALUMINUM SMELTING PRODUCTION
2022 69 MILLION MT                                            95
FIGURE 45: EST. 2022 GLOBAL AL DEMAND  96 MILLION MT          96
FIGURE 46: LME AL PRICE CHART                                 97
FIGURE 47: EST. GLOBAL TI CONCENTRATE MINING PRODUCTION
-2022 9,500 MILLION MT                                        98
FIGURE 48: TI MINERAL CONCENTRATE PRICING                     99
FIGURE 49: EST. GLOBAL 2020 TI MILL PRODUCT OUTPUT,
 ~175,000 MT                                                  100
FIGURE 50: EST. GLOBAL TI SPONGE PRODUCTION-2022
260,000 THOUSAND MT                                           101
FIGURE 51: EST. GLOBAL TI SPONGE CAPACITY-2022
350,000 THOUSAND MT                                           101
FIGURE 52: EST. 2022 W MINE PRODUCTION  84,000 T              106
FIGURE 53: W PRICE CHART                                      110
FIGURE 54: EST. 2022 CO MINE PRODUCTION  190,000 MT           111
FIGURE 55: EST. 2020 GLOBAL CO DEMAND 175,000 MT              112
FIGURE 56: LME CO METAL PRICE CHART                           113
FIGURE 57: EST. 2021 MOLYBDENUM MINING PRODUCTION,
300,000 METRIC TONS                                           114
FIGURE 58: GENERALIZATION OF MO SUPPLY CHAIN                  115
FIGURE 59: EST 2020 MOLYBDENUM USE BY APPLICATION             116
FIGURE 60: 2022 AU MINING PRODUCTION 3,100 MT                 117
FIGURE 61: 2022 AG MINING PRODUCTION ~26,000 MT               118
FIGURE 62: GOLD METAL PRICE CHARTS                            121
FIGURE 63: SILVER METAL PRICE CHARTS                          121
FIGURE 64: PALLADIUM METAL PRICE CHARTS                       122
FIGURE 65: PLATINUM METAL PRICE CHARTS                        123
FIGURE 66: 3DNAND                                             134
FIGURE 67: BURIED POWER RAIL STRUCTURE                        137
FIGURE 68: MRAM DEVICE STRUCTURE                              138
FIGURE 69: CHALCOGENIDE MEMORY ROADMAP (SK HYNIX)             140

TABLES

TABLE 1: CHINA’S INTERESTS IN MINING AND REFINING
THAT RELATE TO SEMICONDUCTOR SPUTTER TARGET METALS            17
TABLE 2: GLOBAL GDP AND SEMICONDUCTOR REVENUES*               26
TABLE 3: IMF ECONOMIC OUTLOOK*                                28
TABLE 4: DATA CENTER SYSTEMS AND COMMUNICATION
SERVICES MARKET SPENDING 2022                                 37
TABLE 5: WIDE BAND GAP (WBG) SEGMENT REVENUES AND CAGRS       65
TABLE 6: ESTIMATED NUMBER OF TARGETS BY POWER DEVICE TYPE
2022 (# OF 200 MM TARGETS, WITH SIC EXPRESSED AS 150MM)       66
TABLE 7: RUTHENIUM TARGET SUPPLIERS                           72
TABLE 8: SPUTTERING TARGET SUPPLIER MANUFACTURING LOCATIONS   75
TABLE 9:  REGIONAL SPUTTERING MARKETS                         76
TABLE 10:  ESTIMATED TARGET COST STRUCTURE
(FOR REFERENCE ONLY)                                          77
TABLE 11: PRECIOUS METAL CONSUMPTION BY APPLICATION           119
TABLE 12: LOGIC PVD APPLICATIONS                              133
TABLE 13: 3DNAND PVD APPLICATIONS                             134
TABLE 14: DRAM PVD APPLICATIONS                               135
TABLE 15:  PHASE CHANGE MATERIAL TARGET SUPPLIERS             146
TABLE 16:  MRAM TARGET SUPPLIERS

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