Thin Film Material Market will reach whooping USD 18.56 Billion in 2035
Mahesh Kale
Global Head at MR ACCURACY REPORTS Corporate Strategy, Market Research, |Consulting | KPMG
Thin Film Material Market size was valued at USD 12.58 Bn. in 2023 and the total Thin Film Material revenue is expected to grow at 4.2% from 2024 to 2030, reaching nearly USD 16.78 Bn.
Thin Film Material Market Overview:
Thin film materials are high-purity materials and chemicals utilized in the formation or modification of thin film deposits and substrates. Precursor gases, sputtering targets, and evaporation filaments are among the examples. A thin film is a layer of material that ranges in thickness from fractions of a nanometer (monolayer) to several micrometers. Thin film construction is mostly used in electronic semiconductor devices and optical coatings. High demand from present and upcoming applications, growing desire for efficiency and miniaturization, technological innovation, government regulations, mandates, and subsidies are the drivers driving growth in the thin film material market. The poor conversion efficiency and large investments necessary in R&D and technology are factors restricting the growth of this industry.
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Thin Film Material MarketReport CoverageDetailsBase Year:2023Forecast Period:2024-2030Historical Data:2018 to 2023Market Size in 2023:US $ 12.58 Bn.Forecast Period 2024 to 2030 CAGR:4.2%Market Size in 2030:US $ 16.78 Bn. Segments Covered:by Deposition ProcessPhysical Vapor Deposition (PVD) Chemical Vapor Deposition (CVD)by TypesAmorphous Silica (A-Si)L Cadmium Telluride (Cdte) Copper Indium Gallium Selenide (Cigs) Othersby ApplicationsPhotovoltaic Solar Cell MEMS Semiconductor And Electrical (Circuit Board) Optical Coating Others
Thin Film Material Market, by Region
North America?(United States, Canada and Mexico) Europe?(UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific?(China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa?(South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America?(Brazil, Argentina, Columbia and Rest of South America)
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Thin Film Material Market, Key Players are
1. Anwell Solar 2. Ascent Solar Technologies Inc. 3. Avancis Gmbh and Co Kg 4. Cicor Technologies Ltd. 5. First Solar Inc. & Company 6. Hanergy 7. Kaneka Solar Energy 8. Masdar Pv Gmbh 9. Moser Baer India Ltd 10. Solar Frontier 11. Trony Solar Holding Co. Ltd 12. Advanced Extrusion Inc 13. Mylan Technologies Inc 14. Hanergy 15. United Lens Co. Inc 16. Precision Econowind Inc. 17. American Elements 18. LEW TECHNIQUES LTD 19. Denton Vacuum 20. KANEKA CORPORATION 21. Umicore 22. Materion Corporation
FAQs:1. Which is the potential market for the Thin Film Material in terms of the region?Ans. APAC is the potential market for Thin Film Materials in terms of the region.
2. What are the opportunities for new market entrants?Ans. The key opportunity in the market is Growing awareness of Nanoparticles and Thin Films.
3. What is expected to drive the growth of the Thin Film Material market in the forecast period?Ans. A major driver in the Thin Film Material market is the rising demand for Thin Films in Microelectronics.
4. What is the projected market size & growth rate of the Thin Film Material Market?Ans. Thin Film Material Market size was valued at USD 12.58 Bn. in 2023 and the total Thin Film Material revenue is expected to grow at 4.2% from 2024 to 2030, reaching nearly USD 16.78 Bn.
5. What segments are covered in the Thin Film Material Market report?Ans. The segments covered are Deposition Process, Types, Applications, and Region.
Thin Film Material Market Regional Insights:
The Asia-Pacific region accounts for the largest market share in the thin film material market globally in 2023 and is expected to be the fastest-growing region over the forecast period. The region's growth is being driven by the increasing acceptance of technical breakthroughs, as well as increased industrial and assembly operations. Additionally, rising population, changing consumer lifestyles, rising solar photovoltaic cells for solar power production plants, rising demand for electronic products, and growing awareness of finite resources are expected to drive regional growth during the forecast period. In terms of capacity, India and China control the majority of the largest solar photovoltaic power facilities. The Tengger solar park in China, located in Zhongwei, Ningxia, spans over 1,200 kilometers and generates 1,547 megawatts of power. The Bhadla solar farm in India, located in the Jodhpur area of Rajasthan, is scheduled to open in 2023. The plant's capacity is expected to be 2,255 megawatts of power and is distributed across 45 square kilometers. Innovative regional initiatives, such as the Thin-Film Solar Wall Project in Heyuan City, Guangdong Province, China, are expected to open up new doors for the market under consideration. In addition, key businesses are utilizing methods such as new product releases and corporate expansions to strengthen their position in the global market. For example, Kaneka Corporation (Japan) announced the development of PixeoTM IB, a heat-resistant polyimide film, in November 2023. This new material introduction would allow the firm to increase its product portfolio and sales of 5G-supporting items, allowing digital gadgets to achieve improved functionality. North America is seeing significant growth as a result of the region's sales output and industrial capacity. The easy availability of revolutionary technology, tight regulatory rules to reduce carbon emissions, and increased usage and deployment of solar panels are the primary drivers of the thin film industry's growth. Additionally, rising demand for thin film material from the IC manufacturing sectors is driving regional growth throughout the forecast period. However, emerging industrial and electronic lines of business in developing economies such as the United Kingdom, Germany, France, Italy, and Spain are driving the European market. The rapid use of artificial illumination such as LEDs to boost crop performance, particularly in northern Europe, is driving the regional market growth. In addition, increased PV panel installation in Germany for greater energy independence would boost demand for thin films for PV material. Rooftop installations in the United States were increased by 20% in 2023, owing to lower solar technology prices, improved subsidy conditions, and other reasons. The Middle East and Africa are anticipated to experience consistent growth as a result of hardware sector restructuring paired with growing development in the microelectronics industry, driving company growth. Latin America is facing significantly slower growth as a result of increased material production costs. Brazil is expected to be the most important market for thin film materials in Latin America during the forecast period, owing to increased demand for thin films in a variety of sectors.