Thin Film Material Market Forecasts to 2028 – Global Analysis By Type (Copper Indium Gallium Selenide (CIGS), Cadmium Telluride (CdTe), Amorphous silicon (a-Si) and Other Types), Basis of deposition process (Chemical deposition process and Physical deposi

Thin Film Material Market Forecasts to 2028 – Global Analysis By Type (Copper Indium Gallium Selenide (CIGS), Cadmium Telluride (CdTe), Amorphous silicon (a-Si) and Other Types), Basis of deposition process (Chemical deposition process and Physical deposition process), Application and By Geography

According to Stratistics MRC, the Global Thin Film Material Market is accounted for $13.24 billion in 2022 and is expected to reach $19.22 billion by 2028 growing at a CAGR of 6.4% during the forecast period. Thin film materials are high-purity materials and chemicals that are used to generate or modify thin film deposits and substrates. Examples include precursor gases, sputtering targets, and evaporation filaments. A thin film is a material layer with a thickness ranging from fractions of a nanometer (monolayer) to several micrometers. Electronic semiconductor devices and optical coatings are the most common applications for thin film manufacturing

Market Dynamics

Driver

Rising demand for thin films in microelectronics

Thin films, which may be made in a variety of ways, are used in a diverse range of microelectronic applications due to their adaptability, such as transistors, sensors, memories, energy devices, and coatings. Additionally, the electronics sector has benefited the most from thin-film technology, which helps advance microelectronics by shrinking the sizes of semiconductor devices. These thin-film devices have excellent mechanical deformability, sensitivity to multifunctional responses, and intelligent control capabilities. This special issue includes fourteen papers that highlight materials synthesis, manufacturing procedures, and potential applications that address recent advances in microelectronic systems. Thin films are utilized in semiconductor devices to generate the conducting lines that connect individual devices as well as the contact pads to which wires connect the circuit to the encapsulating structure. They are also utilized to create insulating layers that separate conducting films from the underlying device structure.

Restraint

Low-efficiency of the material

Thin film materials come in a variety of forms, but their efficiency ranges between 7% and 15% when compared to other materials such as monocrystalline and polycrystalline. Thin film efficiency is expected to stifle industry expansion. The cost of these materials varies depending on their shape, size, and end-use industry. Furthermore, electrical and electronics device manufacturers employ their own thin film materials since any metal can be formed by physical vapor deposition and chemical methods, which hampers the growth of a few commonly used materials such as CdTe, CIGS, a-Si, and others. Thus, the low efficiency of thin film materials and the use of individual materials by end-user industries in thin film production are expected to hinder market expansion.

Opportunity

Growing awareness for nanoparticles

Nanoparticles and thin films are currently among the most active materials science research domains for technological applications. The attraction of nanoscale systems derives not only from the goal of miniaturization but also from the fact that novel characteristics emerge at this length scale and that these properties fluctuate with size, surface-to-volume ratio, and form. Understanding and controlling nanoscale characteristics have enabled scientists and engineers to develop, theoretically model, manufacture, and describe materials as well as improved functional and multifunctional gadgets of current significance. They would then continue to contribute many applications and a vast body of research, such as information technology, electronics, spintronics, displays, memory units, sensors, biosensors, actuators, active surfaces with various properties, catalysis, energy harvesting, energy storage, environmental and safety concerns, healthcare, bioengineering, medicine, the drug industry, and so on. The advancement of these systems of organic or inorganic nanomaterials has also resulted in the advancement of technical equipment and methodologies for their production and characterization, even down to the atomic and single molecular scale.

Threat

Competition from established industries

Established industries often have a strong market presence, established customer bases, and well-developed distribution channels. They have built a reputation and trust among customers, making it challenging for newer technologies like thin film materials to compete and gain market share. These established industries may already have established partnerships and supply chains that provide them with a competitive advantage. Furthermore, established industries may have already invested significant resources in research and development, resulting in mature technologies with proven performance and reliability.

Covid-19 Impact

The COVID-19 pandemic epidemic has had a significant negative impact on practically every industry's operations. The pandemic disrupted global supply chains, leading to challenges in the procurement of raw materials and components for thin film manufacturing. Restrictions on international trade, temporary closures of manufacturing facilities, and logistical issues affected the availability and timely delivery of thin film materials. Lockdown measures and social distancing protocols imposed to contain the spread of the virus impacted thin film material manufacturing and operations. Many companies faced workforce shortages, reduced production capacities, and operational disruptions, leading to delays in product development, testing, and commercialization. Therefore, each of these variables has a detrimental impact on the market for Thin Film Materials.

The Photo voltaic cells segment is expected to be the largest during the forecast period

The photo voltaic cells segment is projected to witness the largest share as compared to other segments over the forecast period. Thin film materials have advantages like lightweight, flexibility, and cell variation from a few nanometers (nm) to tens of micrometers (µm) due to which they are preferred over other techniques such as crystalline silicon solar cells (c-Si). These films are also used in building integrated photo voltaic and as semi-transparent photovoltaic glazing material that can be laminated onto windows.

The Amorphous silicon (a-Si) segment is expected to have the highest CAGR during the forecast period

Amorphous silicon or a-Si is the commonly used material in the manufacturing of semiconductors and computer chips. Silicon is known for its random structure, which provides anomalous electrical behaviour. a-Si material is widely used in various end-use industries. Thus, photovoltaic solar cells made of amorphous silicon or a-Si have better tendency to convert light into electricity. These PV cells are made of one or more supporting materials by using the deposition method.

Region with largest share

The Asia-Pacific region has the highest market share for thin film materials globally and is forecast to be the fastest-growing area over the anticipated period. India and China have the world’s largest solar photovoltaic power plants by capacity. The Tengger solar park in China is found within Zhongwei, Ningxia, covering around 1,200 kilometers of the Tengger desert. It can produce 1,547 megawatts of power. The Bhadla solar farm in India, located in the Jodhpur district of Rajasthan, will begin operation in 2020. The capacity of the plant is anticipated to generate 2,255 megawatts of electricity. It is spread over an area of 45 sq km. Innovative projects in the region, such as the Thin-Film Solar Wall Project in Heyuan City, Guangdong Province, China are expected to open doors to the market being studied. Based on these factors, the Asian-Pacific market for film-based thin films is anticipated to increase significantly over the forecast period.

Region with highest CAGR

During the forecast period, North America is anticipated to have the fastest growth rate 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. 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 2021, owing to lower solar technology prices, improved subsidy conditions, and other reasons.

Key players in the market

Some of the key players in Thin Film Material Market include Advanced Extrusion Inc, American Elements, Anwell Solar, Ascent Solar Technologies, Inc, Avancis Gmbh and Co Kg, Cicor Technologies Ltd., Denton Vacuum, Ferroperm Optics A/S, First Solar Inc. & Company, Geomatec Co., Ltd, Hanergy, Indium Corporation, Jx Nippon Mining & Metals, Kaneka Corporation, Lew Techniques Ltd, Masdar Pv Gmbh, Materion Corporation, Moser Baer India Ltd, Mylan Technologies Inc, Precision Econowind Inc., Solar Frontier Kabushiki Kaisha, Stanford Advanced Materials, Suntech Power Holding Co. Ltd., Trony Solar Holdings Co. Ltd, Umicore, United Lens Co. Inc and Vital Materials Co., Limited.

Key Developments

In March 2022, JX Nippon Mining & Metals announced the land acquisition worth USD 29 million in Mesa, Arizona. The purpose of the acquisition is to establish a key presence in the U.S

In January 2022, Umicore announced that its electroplating and thin film products will be considered under the metal deposition. The purpose of such an announcement is to attract new end-use industries

In October, 2020, Masdar, Abu Dhabi’s renewable energy company, has acquired ib vogt GmbH’s shareholding in the 64.1 MWp Infinity 50 photovoltaic project in Benban, Egypt. Masdar and ib vogt have additionally signed agreements of intent concerning the purchase of ib vogt’s shareholdings in three more solar parks also located in the Benban solar complex, which have a combined volume of 166.5 MWp

Types Covered
• Copper Indium Gallium Selenide (CIGS)
• Cadmium Telluride (CdTe)
• Amorphous Silicon (a-Si)
• Other Types

Basis of deposition processes Covered
• Chemical deposition process
• Physical deposition process

Applications Covered
• Photo voltaic (PV) Cells
• Semiconductors
• Microelectromechanical systems
• Optical Coating
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements