Thin Film Material Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Thin Film Material Market
The thin film material market size was valued at USD 13.48 billion in 2023, and the market is now projected to grow from USD 14.08 billion in 2024 to USD 19.86 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period of 2024-2032.
A vast number of industries took a drastic forceful hit during the Covid period. But the film material market certainly was hampered and restricted the market growth from all ends. Defense against COVID-19 has involved the development and application stocking raw materials for the times of need and rectify the disruptions caused in the supply chains post Covid.These factors affected the thin film material market growth.
Since thin film materials offer many better features than standard solar panels, the demand for photovoltaic solar cells has increased, which is correlated with the expansion of the thin film material market. Due to their superior electrical and optical qualities, these materials are becoming more and more popular in the manufacturing of solar PV cells. These particular growth driving factors have been recorded to attribute the thin film material market share.
The newest developing trend in the market is the application of thin-film materials in nanotechnology. This method includes applying a coating of nanocomposite materials to enhance the product's mechanical attributes. Technological advancements are contributing to lighter, more compact, and longer-lasting products; new features for electrical and electronic gadgets are also driving market trends.
Comprehensive Analysis of Thin Film Material Market
The market is divided into three categories according on type a-Si, CIGS, and CdTe. Over the course of the forecast period, the a-Si category is anticipated to develop at the fastest rate. The market is split into categories based on end-use industry, including optical coating, electrical & electronics, and photovoltaic solar cells.
The biggest market share for thin film materials is anticipated to be held by North America during the projected timeframe. Advancements in technology within the electrical and electronics industries are linked to the growth of the industry in North America. The region also has a large concentration of producers of photovoltaic solar cells, which has increased thin film use there.
Moderate market fragmentation exists. In addition to spending money on R&D to manufacture items, these businesses have large production capacities. Vital Materials Co., Limited (China), Umicore (Belgium), Indium Corporation (U.S.), JX Nippon Mining & Metals (Japan), Kyoto Thin-Film Materials Institute (Japan), and are a few of the leading industry participants.
In January 2022, The electroplating and thin film divisions of Umicore were combined. The recently formed company line is anticipated to generate superior vacuum deposition and electroplating procedures.
Segmentation Table
ATTRIBUTEDETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
CAGR Growth Rate of 4.4% from 2024 to 2032
Unit Value (USD Billion)
Segmentation
By Type
CdTe
CIGS
a-Si
By End-use Industry
Photovoltaic Solar Cells
Electrical & Electronics
Optical Coating
Others
By Region
North America (By Type, By End-use Industry, By Country)
U.S. (By End-use Industry)
Canada (By End-use Industry)
Europe (By Type, By End-use Industry, By Country)
Germany (By End-use Industry)
U.K. (By End-use Industry)
France (By End-use Industry)
Italy (By End-use Industry)
Rest of Europe (By End-use Industry)
Asia Pacific (By Type, By End-use Industry, By Country)
China (By End-use Industry)
India (By End-use Industry)
Japan (By End-use Industry)
South Korea (By End-use Industry)
Rest of Asia Pacific (By End-use Industry)
Latin America (By Type, By End-use Industry, By Country)
Brazil (By End-use Industry)
Mexico (By End-use Industry)
Rest of Latin America (By End-use Industry)
Middle East & Africa (By Type, By End-use Industry, By Country)
South Africa (By End-use Industry)
Saudi Arabia (By End-use Industry)
Rest of Middle East & Africa (By End-use Industry)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends- For Major Countries
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on the Global Thin Film Material Market
- 5. Global Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Size Estimates and Forecast
- 5.1.1. By Type (Value)
- 5.1.1.1. CdTe
- 5.1.1.2. CIGS
- 5.1.1.3. a-Si
- 5.1.2. By End-Use Industry (Value)
- 5.1.2.1. Photovoltaic Solar Cells
- 5.1.2.2. Electrical & Electronics
- 5.1.2.3. Optical Coating
- 5.1.2.4. Others
- 5.1.3. By Region (Value)
- 5.1.3.1. North America
- 5.1.3.2. Europe
- 5.1.3.3. Asia Pacific
- 5.1.3.4. Latin America
- 5.1.3.5. Middle East & Africa
- 6. North America Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Size Estimates and Forecast
- 6.1.1. By Type (Value)
- 6.1.1.1. CdTe
- 6.1.1.2. CIGS
- 6.1.1.3. a-Si
- 6.1.2. By End-Use Industry (Value)
- 6.1.2.1. Photovoltaic Solar Cells
- 6.1.2.2. Electrical & Electronics
- 6.1.2.3. Optical Coating
- 6.1.2.4. Others
- 6.1.3. By Country (Value)
- 6.1.3.1. U.S.
- 6.1.3.1.1. By End-Use Industry (Value)
- 6.1.3.1.1.1. Photovoltaic Solar Cells
- 6.1.3.1.1.2. Electrical & Electronics
- 6.1.3.1.1.3. Optical Coating
- 6.1.3.1.1.4. Others
- 6.1.3.2. Canada
- 6.1.3.2.1. By End-Use Industry (Value)
- 6.1.3.2.1.1. Photovoltaic Solar Cells
- 6.1.3.2.1.2. Electrical & Electronics
- 6.1.3.2.1.3. Optical Coating
- 6.1.3.2.1.4. Others
- 7. Europe Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Size Estimates and Forecast
- 7.1.1. By Type (Value)
- 7.1.1.1. CdTe
- 7.1.1.2. CIGS
- 7.1.1.3. a-Si
- 7.1.2. By End-Use Industry (Value)
- 7.1.2.1. Photovoltaic Solar Cells
- 7.1.2.2. Electrical & Electronics
- 7.1.2.3. Optical Coating
- 7.1.2.4. Others
- 7.1.3. By Country (Value)
- 7.1.3.1. Germany
- 7.1.3.1.1. By End-Use Industry (Value)
- 7.1.3.1.1.1. Photovoltaic Solar Cells
- 7.1.3.1.1.2. Electrical & Electronics
- 7.1.3.1.1.3. Optical Coating
- 7.1.3.1.1.4. Others
- 7.1.3.2. UK
- 7.1.3.2.1. By End-Use Industry (Value)
- 7.1.3.2.1.1. Photovoltaic Solar Cells
- 7.1.3.2.1.2. Electrical & Electronics
- 7.1.3.2.1.3. Optical Coating
- 7.1.3.2.1.4. Others
- 7.1.3.3. France
- 7.1.3.3.1. By End-Use Industry (Value)
- 7.1.3.3.1.1. Photovoltaic Solar Cells
- 7.1.3.3.1.2. Electrical & Electronics
- 7.1.3.3.1.3. Optical Coating
- 7.1.3.3.1.4. Others
- 7.1.3.4. Italy
- 7.1.3.4.1. By End-Use Industry (Value)
- 7.1.3.4.1.1. Photovoltaic Solar Cells
- 7.1.3.4.1.2. Electrical & Electronics
- 7.1.3.4.1.3. Optical Coating
- 7.1.3.4.1.4. Others
- 7.1.3.5. Rest of Europe
- 7.1.3.5.1. By End-Use Industry (Value)
- 7.1.3.5.1.1. Photovoltaic Solar Cells
- 7.1.3.5.1.2. Electrical & Electronics
- 7.1.3.5.1.3. Optical Coating
- 7.1.3.5.1.4. Others
- 8. Asia Pacific Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Size Estimates and Forecast
- 8.1.1. By Type (Value)
- 8.1.1.1. CdTe
- 8.1.1.2. CIGS
- 8.1.1.3. a-Si
- 8.1.2. By End-Use Industry (Value)
- 8.1.2.1. Photovoltaic Solar Cells
- 8.1.2.2. Electrical & Electronics
- 8.1.2.3. Optical Coating
- 8.1.2.4. Others
- 8.1.3. By Country (Value)
- 8.1.3.1. China
- 8.1.3.1.1. By End-Use Industry (Value)
- 8.1.3.1.1.1. Photovoltaic Solar Cells
- 8.1.3.1.1.2. Electrical & Electronics
- 8.1.3.1.1.3. Optical Coating
- 8.1.3.1.1.4. Others
- 8.1.3.2. India
- 8.1.3.2.1. By End-Use Industry (Value)
- 8.1.3.2.1.1. Photovoltaic Solar Cells
- 8.1.3.2.1.2. Electrical & Electronics
- 8.1.3.2.1.3. Optical Coating
- 8.1.3.2.1.4. Others
- 8.1.3.3. Japan
- 8.1.3.3.1. By End-Use Industry (Value)
- 8.1.3.3.1.1. Photovoltaic Solar Cells
- 8.1.3.3.1.2. Electrical & Electronics
- 8.1.3.3.1.3. Optical Coating
- 8.1.3.3.1.4. Others
- 8.1.3.4. South Korea
- 8.1.3.4.1. By End-Use Industry (Value)
- 8.1.3.4.1.1. Photovoltaic Solar Cells
- 8.1.3.4.1.2. Electrical & Electronics
- 8.1.3.4.1.3. Optical Coating
- 8.1.3.4.1.4. Others
- 9. 8.1.3.4.1.5.
- 9.1.
- 9.1.1.
- 9.1.1.1. Rest of Asia Pacific
- 9.1.1.1.1. By End-Use Industry (Value)
- 9.1.1.1.1.1. Photovoltaic Solar Cells
- 9.1.1.1.1.2. Electrical & Electronics
- 9.1.1.1.1.3. Optical Coating
- 9.1.1.1.1.4. Others
- 10. Latin America Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Size Estimates and Forecast
- 10.1.1. By Type (Value)
- 10.1.1.1. CdTe
- 10.1.1.2. CIGS
- 10.1.1.3. a-Si
- 10.1.2. By End-Use Industry (Value)
- 10.1.2.1. Photovoltaic Solar Cells
- 10.1.2.2. Electrical & Electronics
- 10.1.2.3. Optical Coating
- 10.1.2.4. Others
- 10.1.3. By Country (Value)
- 10.1.3.1. Brazil
- 10.1.3.1.1. By End-Use Industry (Value)
- 10.1.3.1.1.1. Photovoltaic Solar Cells
- 10.1.3.1.1.2. Electrical & Electronics
- 10.1.3.1.1.3. Optical Coating
- 10.1.3.1.1.4. Others
- 10.1.3.2. Mexico
- 10.1.3.2.1. By End-Use Industry (Value)
- 10.1.3.2.1.1. Photovoltaic Solar Cells
- 10.1.3.2.1.2. Electrical & Electronics
- 10.1.3.2.1.3. Optical Coating
- 10.1.3.2.1.4. Others
- 10.1.3.3. Rest of Latin America
- 10.1.3.3.1. By End-Use Industry (Value)
- 10.1.3.3.1.1. Photovoltaic Solar Cells
- 10.1.3.3.1.2. Electrical & Electronics
- 10.1.3.3.1.3. Optical Coating
- 10.1.3.3.1.4. Others
- 11. Middle East & Africa Thin Film Material Market Analysis, Insights and Forecast, 2019-2032
- 11.1. Market Size Estimates and Forecast
- 11.1.1. By Type (Value)
- 11.1.1.1. CdTe
- 11.1.1.2. CIGS
- 11.1.1.3. a-Si
- 11.1.2. By End-Use Industry (Value)
- 11.1.2.1. Photovoltaic Solar Cells
- 11.1.2.2. Electrical & Electronics
- 11.1.2.3. Optical Coating
- 11.1.2.4. Others
- 11.1.3. By Country (Value)
- 11.1.3.1. South Africa
- 11.1.3.1.1. By End-Use Industry (Value)
- 11.1.3.1.1.1. Photovoltaic Solar Cells
- 11.1.3.1.1.2. Electrical & Electronics
- 11.1.3.1.1.3. Optical Coating
- 11.1.3.1.1.4. Others
- 11.1.3.2. Saudi Arabia
- 11.1.3.2.1. By End-Use Industry (Value)
- 11.1.3.2.1.1. Photovoltaic Solar Cells
- 11.1.3.2.1.2. Electrical & Electronics
- 11.1.3.2.1.3. Optical Coating
- 11.1.3.2.1.4. Others
- 11.1.3.3. Rest of Middle East & Africa
- 11.1.3.3.1. By End-Use Industry (Value)
- 11.1.3.3.1.1. Photovoltaic Solar Cells
- 11.1.3.3.1.2. Electrical & Electronics
- 11.1.3.3.1.3. Optical Coating
- 11.1.3.3.1.4. Others
- 12. Competitive Analysis
- 12.1. Company Profiles
- 12.1.1. Vital Materials Co., Limited (China)
- 12.1.1.1. Overview
- 12.1.1.2. Description
- 12.1.1.3. Production Method Portfolio
- 12.1.1.4. Financials (As per Availability)
- 12.1.1.5. Recent Developments
- 12.1.2. Umicore (Belgium)
- 12.1.2.1. Overview
- 12.1.2.2. Description
- 12.1.2.3. Production Method Portfolio
- 12.1.2.4. Financials (As per Availability)
- 12.1.2.5. Recent Developments
- 12.1.3. Indium Corporation (U.S.)
- 12.1.3.1. Overview
- 12.1.3.2. Description
- 12.1.3.3. Production Method Portfolio
- 12.1.3.4. Financials (As per Availability)
- 12.1.3.5. Recent Developments
- 12.1.4. JX Nippon Mining & Metals (Japan)
- 12.1.4.1. Overview
- 12.1.4.2. Description
- 12.1.4.3. Production Method Portfolio
- 12.1.4.4. Financials (As per Availability)
- 12.1.4.5. Recent Developments
- 12.1.5. Kyoto Thin-Film Materials Institute (Japan)
- 12.1.5.1. Overview
- 12.1.5.2. Description
- 12.1.5.3. Production Method Portfolio
- 12.1.5.4. Financials (As per Availability)
- 12.1.5.5. Recent Developments
- 12.1.6. GEOMATEC CO., LTD (Japan)
- 12.1.6.1. Overview
- 12.1.6.2. Description
- 12.1.6.3. Production Method Portfolio
- 12.1.6.4. Financials (As per Availability)
- 12.1.6.5. Recent Developments
- 12.1.7. Ferroperm Optics A/S (Denmark)
- 12.1.7.1. Overview
- 12.1.7.2. Description
- 12.1.7.3. Production Method Portfolio
- 12.1.7.4. Financials (As per Availability)
- 12.1.7.5. Recent Developments
- 12.1.8. Ascent Solar Technologies (U.S.)
- 12.1.8.1. Overview
- 12.1.8.2. Description
- 12.1.8.3. Production Method Portfolio
- 12.1.8.4. Financials (As per Availability)
- 12.1.8.5. Recent Developments
- 12.1.9. Cicor Group (Switzerland)
- 12.1.9.1. Overview
- 12.1.9.2. Description
- 12.1.9.3. Production Method Portfolio
- 12.1.9.4. Financials (As per Availability)
- 12.1.9.5. Recent Developments
- 12.1.10. Hanergy (China)
- 12.1.10.1. Overview
- 12.1.10.2. Description
- 12.1.10.3. Production Method Portfolio
- 12.1.10.4. Financials (As per Availability)
- 12.1.10.5. Recent Developments
- 12.1.11. Other Key Players
- 13. Appendix
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