The Global High Purity Sputtering Target for Flat Panel Display Market was valued at USD 848.89 million in 2023 and is projected to reach USD 1019.54 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.10% during the forecast period (2024–2029). This growth is driven by escalating demand for high-resolution displays in televisions, monitors, and mobile devices, alongside advancements in OLED and Micro-LED technologies that require ultra-pure materials for thin-film deposition.

As the display industry pivots toward larger screens and superior image quality, the critical role of sputtering targets in manufacturing conductive and insulating layers is more pronounced than ever. In this blog, we profile the Top 10 Companies in the High Purity Sputtering Target for Flat Panel Display Industry—a diverse group of global material science leaders and specialized manufacturers shaping the future of visual technology.

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Global High Purity Sputtering Target for Flat Panel Display Market – View in Detailed Research Report

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🔟 1. Mitsui Mining & Smelting Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-purity Indium Tin Oxide (ITO) Targets, Metal Targets

Mitsui Mining & Smelting is a cornerstone of the Japanese electronics materials sector, supplying exceptionally pure sputtering targets essential for transparent conductive films in LCD and OLED displays. The company’s expertise in metallurgy ensures consistent film quality and high deposition rates for major panel manufacturers.

Technological Initiatives:

• Pioneering large-size ITO target manufacturing for Gen 10.5+ fabs

• Investment in recycling technologies for rare metals like indium

• R&D focus on targets for next-generation flexible and foldable displays

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9️⃣ 2. JX Nippon Mining & Metals Corporation

Headquarters: Tokyo, Japan
Key Offering: Copper (Cu), Aluminum (Al), Molybdenum (Mo) Targets, ITO Targets

JX Nippon Mining & Metals is a global leader in non-ferrous metals, providing a comprehensive portfolio of high-purity sputtering targets. The company’s products are integral for creating electrode and barrier layers in advanced display panels, known for their low impurity levels and superior performance.

Technological Initiatives:

• Development of low-resistivity copper targets for high-speed displays

• Expansion of production capacity to meet surging demand from Asian panel makers

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8️⃣ 3. Plansee SE

Headquarters: Reutte, Austria
Key Offering: Molybdenum (Mo), Tungsten (W), Tantalum (Ta) Targets

Plansee SE leverages its century-long expertise in refractory metals to produce high-performance sputtering targets for the display industry. Their molybdenum targets are particularly critical for thin-film transistor (TFT) backplanes in LCDs, prized for their thermal stability and conductivity.

Technological Initiatives:

• Innovation in high-density target manufacturing using hot isostatic pressing (HIP)

• Global service network providing technical support and target reclamation services

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7️⃣ 4. Materion Corporation

Headquarters: Mayfield Heights, Ohio, USA
Key Offering: Specialty Alloy Targets, Beryllium-based Targets, Advanced Material Solutions

Materion Corporation provides highly engineered advanced materials, including specialized sputtering targets for demanding display applications. Their expertise in beryllium-containing alloys offers unique solutions for specific optical and electrical properties required in high-end displays.

Technological Initiatives:

• Custom alloy development for specific customer performance requirements

• Focus on sustainable material sourcing and manufacturing processes

Download FREE Sample Report:
Global High Purity Sputtering Target for Flat Panel Display Market – View in Detailed Research Report

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6️⃣ 5. ULVAC, Inc.

Headquarters: Chigasaki, Japan
Key Offering: Sputtering Targets, Integrated Sputtering Systems

ULVAC is unique as a provider of both the sputtering equipment and the high-purity targets used within them. This integrated approach allows for optimized performance and deep insights into the deposition process, making them a valuable partner for display manufacturers seeking turnkey solutions.

Technological Initiatives:

• Co-development of targets and systems for maximum film uniformity and yield

• Leading R&D in targets for quantum dot and other emerging display technologies

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5️⃣ 6. Honeywell Electronic Materials

Headquarters: Charlotte, North Carolina, USA
Key Offering: Aluminum, Titanium, Copper, and Tantalum Sputtering Targets

Honeywell is a trusted global supplier of high-purity metals for the semiconductor and display industries. Their sputtering targets are known for exceptional purity levels, often exceeding 99.999% (5N), which is crucial for defect-free thin films in high-resolution displays.

Technological Initiatives:

• Proprietary manufacturing processes to minimize oxygen and other impurities

• Strategic focus on supply chain reliability for critical raw materials

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4️⃣ 7. Hitachi Metals, Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-purity Metal Targets, Alloy Targets

Hitachi Metals utilizes its advanced metallurgical capabilities to produce sputtering targets that meet the stringent requirements of modern flat panel display production. Their products are essential for creating the intricate layers that control light and electricity in every pixel.

Technological Initiatives:

• Advanced grain size control for consistent sputtering performance

• Development of innovative bonding technologies for extended target life

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3️⃣ 8. Ningbo Jiangfeng

Headquarters: Ningbo, Zhejiang, China
Key Offering: ITO Targets, Rotating Targets, Various Metal Targets

As a leading Chinese supplier, Ningbo Jiangfeng has rapidly grown to serve the massive domestic display panel industry. The company specializes in ITO targets and is expanding its capabilities to provide a broader range of materials, supporting China’s push for semiconductor and display self-sufficiency.

Technological Initiatives:

• Significant investment in scaling ITO target production capacity

• Focus on cost-competitive manufacturing for the mass market

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2️⃣ 9. Sumitomo Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Chemical Vapor Deposition (CVD) Materials, Sputtering Targets

Sumitomo Chemical offers a diverse range of electronic materials, including high-purity sputtering targets. Their strength lies in their chemical expertise, which enables them to produce materials with precise stoichiometry for specialized display applications.

Technological Initiatives:

• Integration of target materials with other electronic chemicals for holistic solutions

• Research into organic and hybrid materials for future display technologies

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1️⃣ 10. LT Metal Ltd.

Headquarters: Seoul, South Korea
Key Offering: Aluminum, Titanium, Copper, and Molybdenum Targets

LT Metal is a key South Korean player, strategically positioned to supply the country’s world-leading display manufacturers like Samsung Display and LG Display. The company focuses on high-quality, reliable targets for high-volume production environments.

Technological Initiatives:

• Close collaboration with domestic display giants for customized product development

• Continuous improvement in manufacturing yield and target utilization efficiency

Get Full Report Here:
Global High Purity Sputtering Target for Flat Panel Display Market – View in Detailed Research Report

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🌍 Outlook: The Future of Display Technology Demands Higher Purity and Innovation

The high purity sputtering target market is at an inflection point. While traditional LCD manufacturing continues to drive volume, the industry’s future is being shaped by the material requirements of OLED, QD-OLED, and Micro-LED technologies. These next-generation displays demand even purer materials, more complex multi-layer structures, and innovative target compositions to achieve superior brightness, color gamut, and energy efficiency.

📈 Key Trends Shaping the Market:

• Accelerating transition from LCD to OLED production, especially in the large-size TV segment

• R&D into new target materials for transparent displays and flexible form factors

• Supply chain regionalization, with increased target production capacity in China and Korea

• Growing emphasis on recycling and reclamation of precious metals from used targets to ensure sustainable supply

Get Full Report Here:
Global High Purity Sputtering Target for Flat Panel Display Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials for today’s displays—they are actively developing the advanced material solutions that will define the visual experiences of tomorrow.