NEW YORK, July 18, 2024 /PRNewswire/ — The global thin film material market size is estimated to grow by USD 2.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.33% during the forecast period. Increasing demand for consumer electronics is driving market growth, with a trend towards increased production efficiency. However, cost competitiveness poses a challenge. Key market players include Ascent Solar Technologies Inc., AVANCIS GmbH, Cicor, Delta Optical Thin film AS, Hanergy Thin Film Power EME BV, Johanson Technology Inc., Kaneka Corp., Laird Performance Materials, Masdar, Moser Baer, Murata Manufacturing Co. Ltd., Samsung SDI Co. Ltd., Solar Frontier Europe GmbH, TDK Corp., Token Electronics Industry Co. Ltd., Trony Solar Holdings Co. Ltd., Viking Tech Corp., Vishay Intertechnology Inc., Wurth Elektronik GmbH and Co. KG, and Wuxi Suntech Power Co. Ltd..
Technavio has announced its latest market research report titled Global thin film material market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
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Thin Film Material Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 4.33% |
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Market growth 2024-2028 |
USD 2842.6 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.08 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 35% |
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Key countries |
China, US, Germany, Japan, and UK |
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Key companies profiled |
Ascent Solar Technologies Inc., AVANCIS GmbH, Cicor, Delta Optical Thin film AS, Hanergy Thin Film Power EME BV, Johanson Technology Inc., Kaneka Corp., Laird Performance Materials, Masdar, Moser Baer, Murata Manufacturing Co. Ltd., Samsung SDI Co. Ltd., Solar Frontier Europe GmbH, TDK Corp., Token Electronics Industry Co. Ltd., Trony Solar Holdings Co. Ltd., Viking Tech Corp., Vishay Intertechnology Inc., Wurth Elektronik GmbH and Co. KG, and Wuxi Suntech Power Co. Ltd. |
Market Driver
The thin film material industry is focused on enhancing production efficiency to stay competitive and cater to the escalating demand for thin film materials. Automation through robotic systems is a significant approach to boost production consistency and reduce costs. Process optimization using advanced deposition technologies like molecular beam epitaxy (MBE) and atomic layer deposition (ALD) improves efficiency and scalability. Material optimization involves developing new, cost-effective thin film materials and optimizing existing ones for better production efficiency. Equipment improvement, including deposition and post-deposition processing systems, is crucial for streamlined production and cost reduction. Thus, the thin film material market thrives on the continuous pursuit of production efficiency enhancements and cost reductions.
The thin film material market is experiencing significant growth, particularly in the renewable energy sector. Optical coatings for PV solar cells are in high demand due to their role in increasing the conversion efficiency rate of photovoltaic cells. Nanotechnology plays a crucial part in this trend, with nanocomposite materials and magnetron sputtering used to create thin films with improved oxidation resistance, low thermal conductivity, and high adherence properties. Raw materials and manufacturing operations are undergoing transformations, with a shift towards sustainable practices and the use of nanotechnology. Single crystal systems are being replaced by monocrystalline, polycrystalline, and amorphous silicon in the production of PV solar cells. The market for thin film coatings is expanding beyond the solar industry, with applications in 5G mobile communications, semiconductors, and various industries such as steel, automotive, and electronics. Thin films offer benefits like decreased weight, improved lifespan, and enhanced film density and morphology. Environmental sustainability is a key driver, with a focus on reducing greenhouse gas emissions and minimizing waste. Thin films are also being used to enhance the performance and durability of various products, including machine equipment, motors, sensors, and image sensors, through properties like corrosion resistance, scratch resistance, and fingerprint resistance. The thin film material market is expected to continue growing, driven by the increasing demand for renewable energy and the need for efficient, sustainable technologies in various industries. Additionally, advancements in AI and automation systems are expected to streamline manufacturing processes and improve overall efficiency.
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Market Challenges
• The thin film material market faces intense competition from traditional materials, making cost competitiveness a significant challenge. To remain competitive, the industry must continuously reduce costs and enhance material properties. Three primary strategies can improve the cost competitiveness of thin film materials: process optimization, material innovation, and increased production efficiency. Process optimization involves enhancing thin film material production processes through the adoption of advanced deposition technologies like molecular beam epitaxy (MBE) and atomic layer deposition (ALD). These methods improve efficiency and scalability, resulting in lower costs and superior material properties. Material innovation is another crucial strategy. Developing new thin film materials with improved properties and reduced costs is essential for the industry’s growth. For instance, the emergence of perovskites as a promising alternative for solar cells could lead to cost-effective, high-performing solar cells. Lastly, increasing production efficiency is vital for reducing costs. Implementing automation and optimizing processes can lead to higher material yield and lower production costs, making thin film materials more competitive in the market. In summary, the cost competitiveness of thin film materials is a significant challenge for the industry, but it also presents opportunities for innovation and growth. By focusing on process optimization, material innovation, and increased production efficiency, the thin film material industry can remain competitive and thrive in the future.
• The Thin Film Material Market is experiencing significant growth due to the increasing demand for improved lifespan, density, strength, and efficiency in various industries. In the renewable energy sector, thin film technologies are crucial for enhancing conversion efficiency rates and reducing greenhouse gas emissions. Thin film coatings are essential for 5G mobile communications, semiconductors, and automation systems in the steel industry, machine equipment, motors, sensors, motion detectors, and image sensors. Challenges in the market include ensuring corrosion resistance, scratch resistance, and fingerprint resistance. Thin film materials like Titanium dioxide, PVC substrates, and PVDF thin films are popular choices due to their environmental sustainability. The market is expanding in off-grid areas, with a focus on creating a green environment for the global population. Thin film materials are also essential for smart workplaces, smart TVs, smart air conditioners, and smart homes. Thin film technologies are also vital in the production of monocrystalline, polycrystalline, and amorphous silicon for computer chips and optical coating. The market for thin film materials is expected to grow further in the coming years, with a particular focus on nanometers and micrometers in substrate materials for PV technology and Cadmium telluride.
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Segment Overview
This thin film material market report extensively covers market segmentation by
Type
1.1 Physical vapor deposition
1.2 Chemical vapor deposition
Application
2.1 Photovoltaic solar cell
2.2 MEMS
2.3 Semiconductor and electrical
2.4 Optical coating
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 Physical vapor deposition- Thin film deposition via Physical Vapor Deposition (PVD) is a process where materials are vaporized in a vacuum environment and deposited onto a substrate to form thin films. PVD utilizes physical means to transfer material from a source to a substrate, resulting in uniform, thin films. Applications include coatings for cutting tools, optics, decorative coatings, and electronic devices. Advancements in PVD technology include the development of advanced coatings with enhanced properties like high hardness, wear resistance, and low friction. Automation through robotics, advanced control systems, and process monitoring is increasing. High-throughput systems cater to industry demands. Environmentally friendly processes using non-toxic materials, reduced energy consumption, and minimal waste are being adopted. Multi-layer coatings with specific properties for various applications are trending. Large-area coatings via PVD systems are also gaining popularity. Cost reduction through efficient processes and advanced materials integration is a key focus. These factors will fuel the growth of the PVD market during the forecast period.
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Research Analysis
The Thin Film Material market encompasses a diverse range of materials used in various industries, including optics and photovoltaics. In optics, thin films are utilized for optical coatings that enhance reflection, transmission, and absorption properties. In photovoltaics, thin films are integral to the production of PV solar cells, where they facilitate electrical conduction. These films can be based on a single crystal system or nanocomposite materials. Raw materials for thin films include Titanium dioxide, PVC substrates, and various metals. Manufacturing operations involve deposition techniques such as sputtering, chemical vapor deposition, and electroplating. Market demand is driven by advancements in PV technology and the need for efficient, cost-effective energy solutions. Nanotechnology plays a significant role in the development of new thin film materials, with nanometers and micrometers being key dimensions. Substrate materials, such as glass or PVDF films, also influence the properties of the final thin film product.
Market Research Overview
Thin film materials are essential components in various industries, including optics, renewable energy, electronics, and manufacturing. These materials are applied as thin coatings on substrate materials, such as glass, metal, or polymers, using techniques like magnetron sputtering and chemical vapor deposition. In the optics sector, thin films are used for optical coatings to enhance properties like oxidation resistance, low thermal conductivity, high adherence, and improved lifespan. In the renewable energy sector, thin films play a crucial role in photovoltaic solar cells, particularly in PV technology based on amorphous silicon, cadmium telluride, and other materials. Thin films help increase conversion efficiency rates, decrease weight, and improve durability, making them ideal for off-grid areas and contributing to environmental sustainability by reducing greenhouse gas emissions. Beyond renewable energy, thin films are also used in various industries, such as the steel industry for corrosion resistance, in 5G mobile communications for high-frequency components, and in the manufacturing of machine equipment, motors, sensors, and motion detectors for improved efficiency and durability. Nanotechnology and nanocomposite materials are driving innovation in thin film technologies, leading to advancements in areas like scratch resistance, fingerprint resistance, and strength. Thin films are also used in various applications like smart workplaces, smart TVs, smart air conditioners, and smart homes, where they contribute to efficiency, improved performance, and enhanced functionality. Some common thin film materials include titanium dioxide, PVC substrates, and PVDF thin films, which come in nanometers and micrometers in thickness. The market demand for thin film materials continues to grow as technology advances and industries seek to improve efficiency, reduce weight, and enhance sustainability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Physical Vapor Deposition
Chemical Vapor Deposition
Application
Photovoltaic Solar Cell
MEMS
Semiconductor And Electrical
Optical Coating
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio