The global thin and ultra-thin films market is
relatively consolidated according to Transparency Market Research.
The top three players held a dominant share of 35.5% in the global
market in 2015. E.I. du Pont, Kaneka Corporation, and Corning
Incorporated are expected to continue this lead due to their enhanced
product offerings that deliver outstanding performances.
According to the research report, the global thin and
ultra-thin films market stood at US$32.78 bn in 2015 and is expected
to be worth US$115.41 bn by the end of 2024. Between the forecast
years of 2016 and 2024, the global market is expected to rise at a
CAGR of 15.1%.
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Asia Pacific Market to Rise at a CAGR of 24.1%
2016-2024
The end users in the global market are, thin-film
electronics, thin-film batteries, and thin-film PV. Out of these, the
thin-film electronics segment remained dominant till 2015 and is
expected to retain its dominance in the coming years as well. By the
end of 2024, this end user will acquire a share of 64.9% in the
global market. The soaring expenditure on electronics and increasing
demand for newer electronic products is expected to drive this
segment.
In terms of geography, the global thin and ultra-thin
films market is segmented into North America, Asia Pacific, Europe,
the Middle East and Africa, and Latin America. Out of all of these
regions, Asia Pacific is expected to remain the frontrunner in the
global market. The booming manufacturing activities and expanding
facilities are expected to drive this regional market. By the end of
2024, Asia Pacific is poised to account for a share of 24.1% in the
overall market.
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Aerospace and Defense Industries to Improve Uptake
of Thin and Ultra-thin Films
The global thin and ultra-thin films market is being
fueled by the growing trend of miniaturization in the semiconductors
and electronics industry. The increasing uptake of thin and
ultra-thin films in semiconductors and electronics due to their
advantages is expected to boost the growth of the global market.
Additionally, the market is also being fueled booming aerospace and
defense industries that are showing a keen interest in using these
films as they offer improved power, efficiency, speed, and decreased
weight. The evolution of nanotechnology has also benefitted the
global market.
The demand for thin and ultra-thin films is expected
to receive a boost due to the growing adoption of solar energy
against the backdrop of increasing pressure to reduce the carbon
footprint. Thin and ultra-thin films are widely used for making
photovoltaic (PV) cells, which are used for harnessing solar energy.
The stringent rules implemented by environmental organizations such
as Greenpeace, EPA, and Department of Energy Resources to reduce
carbon footprint are expected to fuel the demand for thin-film PVs in
the coming years.
Complicated Installation Discourages Users from
Using Thin and Ultra-thin Films
The global thin and ultra-thin films market faces a
tough restraint that is likely to act as a hurdle in the coming
years. The current challenge for the global market is the poor
conversion efficiency of thin film solar cells. Furthermore, their
complex construction structure is also dissuading users from
investing in these films. The sophisticated installation skills
required for flexible thin film solar cells make are not easily
available and thus not viable.
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This review is based on Transparency Market
Research’s report, titled “Thin and Ultra-thin Films Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2016 - 2024.”
The Global Thin and Ultra-Thin Films Market has
been Segmented into:
Global Thin and Ultra-Thin Films Market: By End
User
- Thin Film Electronics
- Thin Film Batteries
- Thin Film PV
- Others
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