Thin and ultra-thin films find its application in a number of end users such as thin film electronics, tin film batteries, thin film photovoltaic cells (PV) and others.
Albany, NY -- (SBWIRE) -- 02/14/2017 -- Global Thin and Ultra-thin Films Market: Snapshot
Thin and ultra-thin films are fine layers of materials whose thickness may measure from fractions of a nanometers to several micrometers. These materials are being used in a wide range of electronics, solar cells, and batteries due to the tremendous advantage they offer. Electronic semiconductor devices, solar cells and optical coatings are the main applications benefitting from thin film construction. As per the research report, the global thin and ultra-thin films market was valued at US$32.78 bn in 2015 and is expected to reach a valuation of US$115.41 bn by 2024. All throughout 2016 and 2024, the global market is expected to rise at a CAGR of 15.1%. Ongoing advancements and upcoming trend of miniaturization in semiconductors and solar industry is expected to boost the growth of the overall market in the coming years.
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The demand for thin and ultra-thin films have been on the rise due to the intensifying trend of miniaturization of semiconductors and electronic components. Design and development of printed electronics as against thin and ultra-thin films is also supporting this factor. In the coming years, the demand for these films will continue to be on the rise as the aerospace and defense industry will also utilize thin and ultra-thin films as they offer improved speed, power, efficiency, and reduced weight of miniaturized electronics. The demand for renewable energy sources such as solar energy is also estimated to be a major factor driving the thin and ultra-thin films market.
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Thin Film Electronics Segment to Lead as Uptake of Electronics Soars
The end users in the global thin and ultra-thin films market are thin film electronics, thin film batteries, and thin film PV. Of these, the thin film electronics segment held the leading share in the global market in terms of revenue in 2015, accounting for nearly 75% of the global market. The soaring usage of electronics such as mobiles, TVs, tablets, and other devices have fostered the growth of this segment. Furthermore, the widening usage of thin and ultra-thin films in microelectronics, which is a critical branch of electronics is expected to boost the share of this segment in the coming years.
Asia Pacific to be Key Consumer of Thin and Ultra-thin Films Market
In terms of geography, the global thin and ultra-thin films market is segmented into North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. Of these regions, Asia Pacific is anticipated to dominate the global market in the coming years. The growing acceptance of technology across Asia Pacific and the rise of manufacturing activities are likely to give the thin and ultra-thin films market an impetus in the region. Furthermore, strengthening economies of China, Russia, and India are also expected to contribute to the rising revenue of Asia Pacific thin and ultra-thin films market.
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North America is also anticipated to show a significant growth rate in the overall market. Adoption of technology, increasing pressure to reduce carbon emissions, and growing acceptance of solar energy have all contributed to the increasing demand for thin and ultra-thin films market.
Key players operating in the global thin and ultrathin films market are China National Building Material Company Ltd., Umicore Group, Ascent Solar Technologies, American Elements, Kaneka Corporation, and Moser Baer India Pvt. Ltd.
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