The Global Sputtering Targets for Solar Cells Market was valued at US$ 635 Million in 2023 and is projected to reach US$ 985 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period (2024–2030). This robust growth is propelled by the global push for renewable energy, significant expansions in photovoltaic (PV) manufacturing capacity, and the increasing adoption of advanced thin-film solar technologies that rely on high-precision sputtering processes.

As the solar industry accelerates toward higher efficiencies and lower production costs, the critical role of high-quality sputtering targets—used to deposit conductive, barrier, and transparent layers onto solar cells—comes into sharp focus. In this blog, we profile the Top 10 Companies in the Sputtering Targets for Solar Cells Industry, highlighting the material science pioneers and global suppliers that are foundational to the next generation of solar energy technology.

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🔟 1. Plansee Group

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

Plansee Group is a global leader in powder metallurgy and a premier manufacturer of refractory metal sputtering targets. Its high-purity molybdenum targets are extensively used in thin-film solar cell production for back contact layers, prized for their excellent electrical conductivity and stability at high temperatures.

Innovation & Market Position:

• Leading global supplier of large-area molybdenum targets for CIGS (Copper Indium Gallium Selenide) solar modules

• Advanced manufacturing capabilities for complex target geometries

• Strong R&D focus on enhancing target density and longevity

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9️⃣ 2. Materion Corporation

Headquarters: Mayfield Heights, Ohio, USA
Key Offering: Copper Indium Gallium Selenide (CIGS) Targets, Aluminum Targets, Specialty Alloy Targets

Materion is a key advanced materials supplier, providing high-performance sputtering targets critical for thin-film PV applications. The company’s CIGS targets are essential for the absorber layer in high-efficiency CIGS solar cells.

Innovation & Market Position:

• Expertise in manufacturing complex multi-element targets like CIGS with precise stoichiometry

• Provides technical support for solar cell manufacturers optimizing deposition processes

• Focus on supply chain reliability for the growing thin-film PV sector

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8️⃣ 3. JX Nippon Mining & Metals Corporation

Headquarters: Tokyo, Japan
Key Offering: Copper (Cu) Targets, Indium Tin Oxide (ITO) Targets, Gallium (Ga) Targets

JX Nippon Mining & Metals is a major force in the electronic materials market, supplying high-purity metal targets for various solar cell applications. The company is a leading producer of copper targets for conductive layers and ITO targets for transparent conductive oxides (TCOs).

Innovation & Market Position:

• Vertically integrated operations from mining to high-purity metal refining

• Significant market share in ITO targets for heterojunction (HJT) solar cells

• Investment in recycling processes to secure indium and other critical raw materials

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7️⃣ 4. Heraeus Holding

Headquarters: Hanau, Germany
Key Offering: Silver (Ag) Targets, Platinum (Pt) Targets, Precious Metal Alloy Targets

Heraeus, a technology group with a long history in precious metals, supplies high-purity silver and other precious metal targets used in advanced solar cell contacts and electrodes. Their materials are crucial for achieving low resistance and high conductivity in top-tier PV cells.

Innovation & Market Position:

• Leading supplier of silver sputtering targets for busbars and contact layers

• Pioneering development of low-cost, high-performance alternatives to reduce silver consumption

• Global recycling network for precious metals, enhancing sustainability

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6️⃣ 5. H.C. Starck Solutions (part of Masan High-Tech Materials)

Headquarters: Munich, Germany
Key Offering: Tantalum (Ta) Targets, Niobium (Nb) Targets, Tungsten (W) Targets

H.C. Starck Solutions is a leading manufacturer of technology metals and advanced ceramics. Its sputtering targets, particularly those based on tantalum and niobium, are used in specialized thin-film solar applications requiring extreme durability and specific electronic properties.

Innovation & Market Position:

• Specializes in high-performance refractory metal targets

• Strong capabilities in custom alloy development for specific PV cell architectures

• Focus on producing targets with ultra-high density and minimal impurities

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5️⃣ 6. Mitsubishi Materials Corporation

Headquarters: Tokyo, Japan
Key Offering: Copper (Cu) Targets, Aluminum (Al) Targets, Titanium (Ti) Targets

Mitsubishi Materials is a diversified materials producer with a significant electronic materials division. The company supplies high-quality copper and aluminum sputtering targets, which are workhorse materials for conductive layers in a wide range of solar cell types.

Innovation & Market Position:

• Produces high-purity (5N+) aluminum and copper targets for reliable thin-film deposition

• Advanced bonding technology for ensuring strong adhesion between target and backing plate

• Global manufacturing and support network serving major PV production hubs

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4️⃣ 7. ULVAC, Inc.

Headquarters: Chigasaki, Kanagawa, Japan
Key Offering: ITO Targets, AZO Targets, Various Metal and Oxide Targets

ULVAC is a unique player as both a manufacturer of vacuum equipment and the sputtering targets used within them. This integrated approach gives them deep insight into the deposition process, allowing them to supply highly optimized targets for solar cell production lines.

Innovation & Market Position:

• Leading supplier of ITO and AZO (Aluminum Zinc Oxide) targets for transparent conductive layers

• Synergy between target development and vacuum equipment design

• Strong presence in the Asian PV market, a global manufacturing center

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3️⃣ 8. Praxair Surface Technologies (now part of Linde plc)

Headquarters: Danbury, Connecticut, USA
Key Offering: Nickel (Ni) Targets, Chromium (Cr) Targets, Ceramic Oxide Targets

As part of Linde, Praxair Surface Technologies provides a wide array of sputtering target materials. Their nickel and chromium targets are commonly used for barrier and adhesion layers in solar cell structures, preventing diffusion between different material layers.

Innovation & Market Position:

• Expertise in metallic and ceramic sputtering targets for complex multi-layer stacks

• Global supply chain ensuring consistent material quality and availability

• Technical services focused on maximizing target utilization and process yield

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Sputtering Targets for Solar Cells Market – View in Detailed Research Report

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2️⃣ 9. GRIKIN Advanced Material Co., Ltd.

Headquarters: Beijing, China
Key Offering: Aluminum Targets, Copper Targets, Titanium Targets

GRIKIN is a leading Chinese manufacturer of high-purity sputtering targets, serving the rapidly expanding domestic and international solar industries. The company has become a key supplier of cost-effective aluminum and copper targets for mass-produced PV cells.

Innovation & Market Position:

• Major producer for China’s vast PV manufacturing sector

• Focus on scaling production to meet high-volume demand

• Investment in R&D to improve target microstructural homogeneity

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1️⃣ 10. Konfoong Materials International Co., Ltd. (KFMI)

Headquarters: Ningbo, Zhejiang, China
Key Offering: Copper Targets, Aluminum Targets, TaN Targets, Titanium Targets

KFMI is a prominent supplier of sputtering target materials for the semiconductor and display industries, with a growing footprint in photovoltaics. The company provides essential metal targets used in the metallization and barrier layers of high-efficiency solar cells.

Innovation & Market Position:

• Rapidly expanding production capacity for PV-grade targets

• Strategic focus on localization of the sputtering target supply chain within Asia

• Commitment to advancing manufacturing technology for larger, more uniform targets

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Sputtering Targets for Solar Cells Market – View in Detailed Research Report

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🌍 Outlook: The Future of Sputtering Targets is Driven by Solar Innovation

The sputtering targets market is intrinsically linked to the evolution of solar technology. As PV manufacturers push for higher cell efficiencies, exceeding 26% for silicon-based cells and advancing thin-film performances, the demands on sputtering target materials become more stringent.

📈 Key Trends Shaping the Market:

• Transition to Heterojunction Technology (HJT) and TopCon cells, requiring advanced TCO targets like ITO and low-temperature processes.

• R&D into alternative transparent conductive oxides (TCOs) such as AZO and IZO to reduce reliance on indium.

• Increased adoption of copper electroplating in mass production, influencing the demand for copper and seed layer targets.

• Growing emphasis on recycling and material recovery to improve sustainability and secure supply chains for critical raw materials.

Get Full Report Here:
Sputtering Targets for Solar Cells Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials—they are enabling the efficiency gains and cost reductions that make solar energy a cornerstone of the global clean energy transition.