The Global Sputtering Targets for Solar Cells Market was valued at USD 2.75 Billion in 2023 and is projected to reach USD 4.52 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period (2024–2030). This robust growth is driven by the global acceleration in renewable energy adoption, substantial government investments in solar power infrastructure, and continuous technological advancements in photovoltaic (PV) cell manufacturing.

As the solar industry pushes for higher efficiency and lower production costs, the critical role of high-purity materials used in thin-film deposition becomes undeniable. Sputtering targets are the essential components in the Physical Vapor Deposition (PVD) process, creating the conductive, barrier, and transparent layers that define a solar cell’s performance. In this blog, we profile the Top 10 Companies in the Sputtering Targets for Solar Cells Industry—specialized material science firms and global giants leading the charge in advanced material innovation for a solar-powered future.

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🔟 1. Plansee Group

Headquarters: Reutte, Tyrol, Austria
Key Offering: Molybdenum (Mo) Targets, Tungsten (W) Targets, TZM Alloys

Plansee Group is a world leader in powder metallurgy and a premier supplier of refractory metal sputtering targets. With over 100 years of experience, their high-density, fine-grained molybdenum targets are industry benchmarks for back-contact layers in CIGS (Copper Indium Gallium Selenide) thin-film solar cells, known for their exceptional stability and electrical conductivity at high temperatures.

Innovation & Market Leadership:

• Pioneer in high-purity molybdenum and tungsten target manufacturing

• Global production facilities ensuring robust supply chains

• Strong R&D focus on targets for next-generation tandem solar cells

Download FREE Sample Report:
Sputtering Targets for Solar Cells Market – View in Detailed Research Report

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9️⃣ 2. Heraeus Holding

Headquarters: Hanau, Germany
Key Offering: Silver (Ag) Targets, Platinum (Pt) Targets, ITO (Indium Tin Oxide) Targets

Heraeus Holding, with its deep expertise in precious metals and materials technology, is a key player in the sputtering target market. Their high-purity silver targets are critical for front-side contacts in high-efficiency silicon heterojunction (HJT) cells, while their ITO targets are widely used for transparent conductive oxides (TCOs).

Innovation & Market Leadership:

• Leading supplier of precious metal targets for premium PV applications

• Development of low-indium and indium-free TCO alternatives

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8️⃣ 3. Hitachi Metals, Ltd.

Headquarters: Tokyo, Japan
Key Offering: Aluminum (Al) Targets, Copper (Cu) Targets, Special Alloy Targets

Hitachi Metals is a major global supplier of high-performance metals and materials. Their sputtering target division produces high-purity aluminum and copper targets used extensively for conductive layers in various thin-film solar cell architectures, benefiting from the company’s advanced metallurgical processes.

Innovation & Market Leadership:

• High-volume manufacturing capabilities for cost-effective conductive targets

• Strong presence in the Asia-Pacific solar manufacturing hub

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7️⃣ 4. Materion Corporation

Headquarters: Mayfield Heights, Ohio, USA
Key Offering: Beryllium-based Alloy Targets, Copper-Indium-Gallium (CIG) Sputtering Targets

Materion is a specialized advanced materials company offering high-performance alloy targets. They are a critical supplier for the CIGS thin-film solar sector, providing precisely engineered Copper-Indium-Gallium targets that are essential for absorbing light efficiently in these high-performance cells.

Innovation & Market Leadership:

• Expertise in complex multi-element alloy targets for niche PV technologies

• Focus on material consistency and purity for reproducible cell performance

Download FREE Sample Report:
Sputtering Targets for Solar Cells Market – View in Detailed Research Report

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6️⃣ 5. JX Nippon Mining & Metals Corporation

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

JX Nippon Mining & Metals is a diversified natural resources and materials company with a significant footprint in electronic materials. They are a leading global supplier of high-purity copper and ITO sputtering targets, serving major solar panel manufacturers with materials crucial for both conductive and transparent layers.

Innovation & Market Leadership:

• Vertical integration from raw material refining to target fabrication

• Large-scale production capacity to meet growing global demand

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5️⃣ 6. Mitsubishi Materials Corporation

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

Mitsubishi Materials is another Japanese powerhouse in advanced materials. Their sputtering targets are known for high quality and reliability, with aluminum targets being widely used for rear-side metallization in silicon solar cells, helping to reduce costs and improve conductivity.

Innovation & Market Leadership:

• Focus on cost-optimized targets for mainstream silicon PV manufacturing

• Continuous improvement in target density and grain structure for longer service life

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4️⃣ 7. ULVAC, Inc.

Headquarters: Chigasaki, Kanagawa, Japan
Key Offering: Full range of PVD targets, including ITO, Al, Cu, Mo, and Si

ULVAC is unique as a leading supplier of both sputtering equipment and the targets used within them. This integrated approach gives them deep insight into the deposition process, allowing them to optimize target design and composition for maximum solar cell efficiency and manufacturing yield.

Innovation & Market Leadership:

• Synergy between equipment and consumables drives holistic process solutions

• Strong R&D in targets for perovskite and other emerging PV technologies

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3️⃣ 8. Konfoong Materials International Co., Ltd (KFMI)

Headquarters: Ningbo, Zhejiang, China
Key Offering: Aluminum (Al) Targets, Copper (Cu) Targets, Titanium (Ti) Targets, Tantalum (Ta) Targets

KFMI is a prominent Chinese manufacturer rapidly expanding its global presence. They supply a wide array of high-purity metal targets to the booming solar manufacturing sector in Asia and beyond, emphasizing competitive pricing and scalable production to support the industry’s growth.

Innovation & Market Leadership:

• Rapid response to the high-volume needs of Chinese PV gigafactories

• Investment in advanced bonding technology for larger, more durable targets

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2️⃣ 9. Grikin Advanced Materials Co., Ltd.

Headquarters: Beijing, China
Key Offering: High-purity Aluminum (Al) Targets, Copper (Cu) Targets, Sputtering Target Assemblies

Grikin is a major Chinese supplier specializing in high-purity aluminum and copper sputtering targets. They are a key domestic partner for many of China’s largest solar cell producers, providing materials essential for the metallization processes that define cell efficiency.

Innovation & Market Leadership:

• Strategic focus on serving the massive domestic Chinese solar market

• Continuous expansion of production capacity to maintain cost leadership

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1️⃣ 10. H.C. Starck Solutions (part of Masan High-Tech Materials)

Headquarters: Munich, Germany (Globally operated)
Key Offering: Tantalum (Ta) Targets, Niobium (Nb) Targets, Molybdenum (Mo) Targets

H.C. Starck Solutions is a leading manufacturer of technology metals and advanced ceramics. Their high-performance molybdenum and tantalum targets are used in specialized solar applications requiring exceptional corrosion resistance and thermal stability, particularly in advanced thin-film and concentrated PV systems.

Innovation & Market Leadership:

• Expertise in refractory metals for demanding PV applications

• Global technical support network for complex material challenges

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

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🌍 Outlook: The Future of Sputtering Targets is Driven by Efficiency and Sustainability

The sputtering targets market is evolving in lockstep with the photovoltaic industry’s ambitions. While conventional aluminum and molybdenum targets will remain volume leaders, the frontier of innovation lies in materials that enable higher efficiencies, lower costs, and improved sustainability.

📈 Key Trends Shaping the Market:

• Rise of New PV Architectures: Targets for perovskite, tandem, and HJT cells require new material combinations and极高的纯度.

• Cost Reduction Pressure: Development of targets using less expensive, more abundant materials (e.g., AZO as an ITO alternative).

• Circular Economy: Increased focus on high-yield target recycling and reclamation processes to reduce waste and material costs.

• Supply Chain Resilience: Diversification of production and sourcing for critical raw materials like indium and gallium.

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 foundational partners in the global transition to clean, affordable solar energy.