The emergence of battery systems is expected to provide opportunities for the thin film market growth
The global thin film market size is projected to reach nearly USD 202.6 billion by 2028. In addition to this, it is projected to gather a CAGR of above 15.0% over the forecast years 2018-2028. Increasing demand for the Internet of Things (IoT) devices, wearable electronics, and medical tracking applications is expected to boost market growth over the estimated period in both developing and developed countries. Additionally, continuing R&D efforts in the global battery production market, leading to diverse demands from various end-user industries. The technological progress of thin-film batteries contributing to a battery's charging capacity and life cycle thus keeping it safe for usage has seen a spike in recent years. With the increasing demand for smartwatches, the industry's leading players are motivated to drop the technological innovations, making the batteries thinner and more flexible.
The report also outlines the various characteristics of the global thin film industry by assessing the market from value chain analysis. Moreover, the thin film market report comprises various qualitative parts of the thin film industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The thin film market has huge competition amongst the already well-known and new market players. Also, the thin film industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Thin film battery segment led the growth industry in 2019 and is forecasted to continue the trend over the coming years. The demand for thin-film batteries is seeing solid growth catalyzed by a dramatic rise in the usage of smartphones, laptops, and other mobile devices. The demand for such electronic devices is witnessing a robust growth with consumers being more technology-friendly.
The gradual growth in the usage of apps such as smartwatch and exercise bands allow for heavy usage of thin-film battery. Such batteries can be conveniently integrated into our day-to-day portable electronic gadgets as they are efficient, affordable, and smaller in size. Thin-film batteries have a great battery backup which makes them ideal for low-power devices. The worldwide demand for thin-film batteries is projected to experience good development over the next five years.
The deposition process was the largest technology segment on the global thin film market in 2019 and is expected to maintain its dominance over the forecast period. Thin film deposition is a critical step toward developing reliable chemical sensors. Furthermore, the binding properties of such compounds in the liquid phase should be retained in the solid-state to allow effective identification of target products. Thin film deposition of products varying from easy, unregulated techniques to inorganic and organic production of composite material.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The Asia Pacific market for thin films is expected to contribute significant market revenue shares, which can be attributed to increased adoption of new technologies and growing manufacturing activities in the electronic goods sector. The growing adoption of the new technology has increased the North American demand for thin films and is expected to experience substantial growth over the forecast period. Moreover, strict policy legislation on lowering carbon pollution and growing the adoption of solar energy are some factors that drive the demand for thin films and have transformed the thin film market in the region. The Middle East and Africa, Europe, and Latin America industry are expected to experience moderate expansion growth over the coming years.
The major players of the global thin film market are The Corning Incorporated, Kaneka Corporation, and E.I. du Pont. Moreover, the other prospective players in the thin film market are Umicore Group, China National Building Material Company Ltd., American Elements, Ascent Solar Technologies, and Moser Baer India Pvt. Ltd. The thin film market comprises well established local as well as global players. Moreover, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Thin Film Market
Technology Overview, 2018-2028 (USD Billion, Million Square Meters)
- Deposition Process
- Chemical Vapor Deposition (CVD)
- Physical Vapor Deposition (PVD)
End Use Overview, 2018-2028 (USD Billion, Million Square Meters)
- Thin Film Batteries
- Thin Film Electronics
- Thin Film PV (Photovoltaic Cells)
Regional Overview, 2018-2028 (USD Billion, Million Square Meters)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America