The Thin Film Material Market size was USD 13.25 billion in 2023 and is expected to Reach USD 18.99 billion by 2031 and grow at a CAGR of 4.6% over the forecast period of 2024-2031.
Thin film materials are a layer of material ranging from nanometres to several micrometres in thickness. Thin film is coated with physical vapour deposition (PVD) and chemical vapour deposition (CVD) using a few hi-tech materials such as a-Si, CdTe, and CIGS. Other materials used for thin films are gallium, copper, indium, cadmium, selenide, and telluride. Every thin film is unique due to the different element compositions present in it.
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Thin film materials play an important role in Micro-electromechanical Systems (MEMS) microelectronic devices, surface coatings, optical coating, semiconductor and magnetic storage media. These films are used to produce thin film batteries and are being applied in pharmaceuticals via thin drug delivery. A household example of thin film material is a mirror that has a silver coating behind a sheet of glass using the method of sputtering.
According to the latest trend, these films are used in nanotechnology. Due to advancements in technology, demand for small, light-weight, and durable electronic and electrical devices is expected in the market. These films are often used to improve the optical and electrical properties of devices. They are used in photovoltaic solar cells, optical coatings, semiconductors, and other end users due to their high conduction. Semiconductor devices, electronics, and optical coatings are some of the major end users of thin film material. The increase in concern due to climate change leading to global warming has drawn some attention from the government towards some green construction. The government has provided fiscal incentives, schemes, and subsidies to help the growth of the solar power industry. The growth of these markets is driven by advanced technology, as the deposition materials enhance chemical properties, making them more suitable for end users.
KEY DRIVERS:
High demand from current, existing, and emerging end users
Subsidies provided by the government to adapt the use of PV solar cells drive the use of thin film material
Photovoltaic solar cells, which convert light into electricity and are made up of silicon, are gaining importance due to the government's focus on renewable energy and environmental sustainability. The government is anticipating the use of PV cells as an alternative to electricity by shifting towards green energy generation. Photovoltaic solar cells can meet the need for electricity in various areas, like urban and remote areas. In remote areas, due to the lack of connectivity of the power supply, PV cells can be a better option than solar panels. PV cells are also 300 times smaller and lighter than solar panels. The market growth of thin film material is driven by huge end-users.
Restrain
Lower efficiency of thin film material to hinder the market growth
The cost of production of thin film material restrains their overall growth
Thin film materials come in a variety of forms, however their efficiency is less than 15% when compared to materials like monocrystalline and polycrystalline. Thin film materials have a lot of competition on the market. This film material is used by manufacturers of electrical and electronic equipment as any metal that prevents the development of thin film material.
Opportunity
The semiconductor industry is expanding as digitalization advances worldwide, and demand is expected to increase over the long term
The end user is expected to drive the market for thin film materials in the future
The operation of railways, the internet and communication, bank ATMs, and other components of the social infrastructure, computers, healthcare, etc. all rely heavily on semiconductors. Si, also known as amorphous silicon, is mostly used in the making of semiconductors and computer chips. Silicon, due to its anomalous electric behaviour, has high electric behaviour and high absorption capacity. With the help of nanotechnology and polymer science, the production of lower-cost and more efficient semiconductor thin-film materials is increasing day by day. Hence, the end user of semiconductors, PV Solar cells, optical coatings, and MEMS are sectors that are expected to drive the market for thin film materials in the future.
Challenges
With decreased end-user, the availability of substitute thin film material hinders the growth of this market
Reduced End Users of thin film or the presence of alternative materials can hinder growth
Reduction in end-user of thin film materials such as Semiconductor devices, electronics, and optical coatings due to alternate substitutes present in the market. Alternatives to thin films, such as organics, perovskites, CIGS, and CdTe, among others, provide several benefits to get around these restrictions and meet the needs of new applications. These can hinder the growth of thin film material.
The conflict between Russia and Ukraine has had a negative impact on all major sectors globally. The supply chain of raw materials is disrupted. Sanctions applied to Russia by major countries created a bottleneck in trade. The major material used for semiconductor manufacturing comes from Russia and Ukraine. Ukraine produces 70-80% supply of neon while Russia produces 35-45% of the palladium supply. Hence, due to war the raw material scarcity the production has been affected.
The outbreak of covid-19 followed by Russia Ukraine war has surged to the high price rise of materials which can slow down the manufacturing process in every sector due to high operating costs. Challenges of material shortage, disrupt the supply chain, and high inflation are these all-factors hiders growth. Despite the slowdown in the economy, the electronic market sector has seen significant growth.
By type
a-Si
CdTe
CIGS
By End user
Electrical and Electronic
MEMS
Photovoltaic Solar cells
Semiconductors
Optical coating
Other
Europe has the largest share of the thin film market, followed by North America and Asia-Pacific. They dominate the thin film market due to the high usage of these materials by end users. People in Europe are highly dependent on smart electronic gadgets such as smartphones, air conditioners, smart TVs, and smart home appliances, which has driven the demand for thin film material.
In the North American region, countries like the US are expected to have a large demand due to advancements in technology and innovation in present materials and processes in every sector. Other than that, the manufacturing of photovoltaic cells requires semiconductors and film. The Middle East & Africa and Latin America have emerging growth in the thin film market due to increasing construction projects.
Asia-Pacific is the largest user of thin film material. China is the leader in the installation and production of solar PV cells. Countries like India and China are highly populated. The consumption of electricity, electronic devices, and users is increasing, which drives the use of PV cells for green electricity generation and high semiconductor demand for electronic devices. Countries like Japan, Thailand, and others are emerging consumers of thin film materials.
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Regional Coverage
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Ascent Solar Technologies, Inc., Cicor Management AG, Hanergy Thin Film Power Group, Vital Materials Co. ltd, Indium Corporation, Umicore, Kyoto Thin film materials institute, Geomatec Co ltd, Ferroperm Optics, JX Nippon Mining & Metals, and other key players are mentioned in the final report.
Ascent Solar Technologies- In 2023 Ascent Solar acquired Flisom AG’s Zurich equipment to establish 300% more manufacturing capacity, and increased production capacity at an international reach in Europe and Asia. Governments in Europe and Asia are implementing laws to boost indigenous manufacturing and solar energy production.
Cicor Management AG- In 2022 To expand its efforts in the area of miniature hybrid circuits, Cicor purchased ATF Microwave's thin film division. It will benefit miniaturized electronics solutions to industries including aerospace and medical technology.
Umicore- In 2022 Umicore thin film products and Umicore electroplating are combined into metal deposit solutions. The established Electroplating (EP) and Thin Film Products (TFP) business's expertise will be combined under the Metal Deposition Solutions (MDS) business unit, according to Umicore.
| Report Attributes | Details |
| Market Size in 2023 | US$ 13.25 Bn |
| Market Size by 2031 | US$ 18.99 Bn |
| CAGR | CAGR of 4.6% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (a-Si, CdTe, and CIGS) • By End User (Electrical, MEMS, Photovoltaic Solar cells, Semiconductors, Optical coating, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Ascent Solar Technologies, Inc., Cicor Management AG, Hanergy Thin Film Power Group, Vital Materials Co. ltd, Indium Corporation, Umicore, Kyoto Thin film materials institute, Geomatec Co ltd, Ferroperm Optics, JX Nippon Mining & Metals |
| Key Drivers | • High demand from current, existing, and emerging end users • Subsidies provided by the government to adapt the use of PV solar cells drive the use of thin film material. |
| Market Opportunities | • The semiconductor industry is expanding as digitalization advances worldwide, and demand is expected to increase over the long term. • The end user is expected to drive the market for thin film materials in the future. |
Ans. USD 18.99 billion is the projected market size of Thin Film Material by 2031.
Ans. The CAGR value of Thin Film Material Market over the forecast period is 4.6%.
Ans. DRIVERS:
Ans. Optical coating, Photovoltaic solar cells segment is expected to be lead end-user of thin film material.
Ans. North America region dominates the Thin Film Material Market.
Table of Contents
1.Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Thin Film Material Market Segmentation, By Type
8.1 a-Si
8.2 CdTe
8.3 CIGS
9. Thin Film Material Market Segmentation, By End User
9.1 Electrical
9.2 MEMS
9.3 Photovoltaic Solar cells
9.4 Semiconductors
9.5 Optical coating
9.6 Other
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1.1 North America Thin Film Material Market by Country
10.2.1.2 North America Thin Film Material Market by Type
10.2.1.3 North America Thin Film Material Market by End User
10.2.4 USA
10.2.4.1 USA Thin Film Material Market by Type
10.2.4.2 USA Thin Film Material Market by End User
10.2.5 Canada
10.2.5.1 Canada Thin Film Material Market by Type
10.2.5.2 Canada Thin Film Material Market by End User
10.2.6 Mexico
10.2.6.1 Mexico Thin Film Material Market by Type
10.2.6.2 Mexico Thin Film Material Market by End User
10.3 Europe
10.3.1 Europe Thin Film Material Market by Country
10.3.2 Europe Thin Film Material Market by Type
10.3.3 Europe Thin Film Material Market by End User
10.3.4 Germany
10.3.4.1 Germany Thin Film Material Market by Type
10.3.4.2 Germany Thin Film Material Market by End User
10.3. UK
10.3.5.1 UK Thin Film Material Market by Type
10.3.5.2 UK Thin Film Material Market by End User
10.3.6 France
10.3.6.1 France Thin Film Material Market by Type
10.3.6.2 France Thin Film Material Market by End User
10.3.7 Italy
10.3.7.1 Italy Thin Film Material Market by Type
10.3.7.2 Italy Thin Film Material Market by End User
10.3.8 Spain
10.3.8.1 Spain Thin Film Material Market by Type
10.3.8.2 Spain Thin Film Material Market by End User
10.3.9 The Netherlands
10.3.9.1 Netherlands Thin Film Material Market by Type
10.3.9.2 Netherlands Thin Film Material Market by End User
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Thin Film Material Market by Type
10.3.10.2 Rest of Europe Thin Film Material Market by End User
10.4 Asia-Pacific
10.4.1 Asia Pacific Thin Film Material Market by Country
10.4.2 Asia Pacific Thin Film Material Market by Type
10.4.3 Asia Pacific Thin Film Material Market by End User
10.4.4 Japan
10.4.4.1 Japan Thin Film Material Market by Type
10.4.4.2 Japan Thin Film Material Market by End User
10.4.5 South Korea
10.4.5.1 South Korea Thin Film Material Market by Type
10.4.5.2 South Korea Thin Film Material Market by End User
10.4.6 China
10.4.6.1 China Thin Film Material Market by Type
10.4.6.2 China Thin Film Material Market by End User
10.4.7 India
10.4.7.1 India Thin Film Material Market by Type
10.4.7.2 India Thin Film Material Market by End User
10.4.8 Australia
10.4.8.1 Australia Thin Film Material Market by Type
10.4.8.2 Australia Thin Film Material Market by End User
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Thin Film Material Market by Type
10.4.9.2 APAC Thin Film Material Market by End User
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Thin Film Material Market by Country
10.5.2 The Middle East & Africa Thin Film Material Market by Type
10.5.3 The Middle East & Africa Thin Film Material Market by End User
10.5.4 Israel
10.5.4.1 Israel Thin Film Material Market by Type
10.5.4.2 Israel Thin Film Material Market by End User
10.5.5 UAE
10.5.5.1 UAE Thin Film Material Market by Type
10.5.5.2 UAE Thin Film Material Market by End User
10.5.6 South Africa
10.5.6.1 South Africa Thin Film Material Market by Type
10.5.6.2 South Africa Thin Film Material Market by End User
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Thin Film Material Market by Type
10.5.7.2 Rest of Middle East & Asia Thin Film Material Market by End User
10.6 Latin America
10.6.1 Latin America Thin Film Material Market by Country
10.6.2 Latin America Thin Film Material Market by Type
10.6.3 Latin America Thin Film Material Market by End User
10.6.4 Brazil
10.6.4.1 Brazil Thin Film Material Market by Type
10.6.4.2 Brazil Africa Thin Film Material Market by End User
10.6.5 Argentina
10.6.5.1 Argentina Thin Film Material Market by Type
10.6.5.2 Argentina Thin Film Material Market by End User
10.6.6 Rest of Latin America
10.6.6.1 Rest of Latin America Thin Film Material Market by Type
10.6.6.2 Rest of Latin America Thin Film Material Market by End User
11 Company Profile
11.1 Ascent Solar Technologies
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Cicor Management AG
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Hanergy Thin Film Power Group
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Vital Materials Co. ltd
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Indium Corporation
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Kyoto Thin film materials institute
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Geomatec Co ltd
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Ferroperm Optics
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 JX Nippon Mining & Metals
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Umicore
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. USE Cases and Best Practices
14. Conclusion
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