Thin Film Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thin Film Materials Market Analysis
The thin film material market is expected to register a CAGR of over 4% during the forecast period. The major factor driving the growth of the market is its wide applications in solar photovoltaic cells for solar power generation. Other factors driving the growth of the Thin Film Material Market include its application in the electronic components such as printed circuit boards, sensors, capacitors, etc. On the flip side, the presence of close substitutes such as crystalline silicon, etc. are hindering the growth of the market.
- The major consumption of thin film materials is in photovoltaic cells because of their properties such as lightweight, flexibility, thinner cell variation, etc. compared to the traditional crystalline silicon technology.
- The Asia-Pacific region is forecasted to own the largest market share owing to humungous photovoltaic solar power plants in the region.
Thin Film Materials Market Trends
This section covers the major market trends shaping the Thin Film Material Market according to our research experts:
Growing Demand for Photo voltaic Cells
- Applications of thin films in the photovoltaic cells for solar power generation has amplified the market studied and is anticipated to be the largest consuming segment during the forecast period.
- Thin film materials have advantages like lightweight, flexible, 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 cell (c-Si).
- These films are also used in building integrated photovoltaics and as semi-transparent, photovoltaic glazing material that can be laminated onto windows.
- With the increasing technological advancements, it's possible to integrate photovoltaics (PV) onto the sides of buildings, replacing traditional glass windows with a semi-transparent thin film, simultaneously generating clean energy for the structure.
- All the aforementioned factors along with government support for renewable energy production is expected to drive the global thin film material market during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region accounts for the largest market share in the thin film material market globally and is also forecasted to be the fastest-growing region over the forecast period.
- India and China own most of the largest solar photovoltaic power plants in terms of capacity across the globe.
- The Tengger solar park in China, located in Zhongwei, Ningxia, covers about 1,200 kilometers of the Tengger desert and has an output of 1,547 megawatts of power.
- Bhadla solar farm in India, which is in the Jodhpur district of Rajasthan, is set to be in operation by 2020. The production capacity of the plant is expected to produce 2,255 megawatts of electricity and is spread across 45 square kilometers.
- Innovative projects from the region like Thin-Film Solar Wall Project in Heyuan City, Guangdong province from China is anticipated to open new doors for the market studied.
- Hence, from the aforementioned factors, the demand for thin film materials in the Asia-Pacific region is expected to grow considerably over the forecast period.
Thin Film Materials Industry Overview
The thin film material market is partially fragmented. The major players operating in the thin film material business include Ascent Solar Technologies, Inc, Stanford Advanced Materials, Cicor Management AG, Hanergy Thin Film Power Group Europe, and Kaneka Corporation.
Thin Film Materials Market Leaders
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Ascent Solar Technologies, Inc
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Stanford Advanced Materials
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Cicor Management AG
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Hanergy Thin Film Power Group Europe
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KANEKA CORPORATION
*Disclaimer: Major Players sorted in no particular order
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Thin Film Materials Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand for Photo voltaic (PV) Cells
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4.1.2 Increasing Application in Electronic Components
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4.2 Restraints
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4.2.1 Availability of Close Substitutes
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Copper Indium Gallium Selenide (CIGS)
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5.1.2 Cadmium Telluride (CdTe)
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5.1.3 Amorphous Silicon (a-Si)
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5.1.4 Other Types
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5.2 Application
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5.2.1 Photo voltaic (PV) Cells
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5.2.2 Semiconductors
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5.2.3 Microelectromechanical systems
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5.2.4 Other Applications
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Spain
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5.3.3.6 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Aregentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 United Arab Emirates
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5.3.5.2 Saudi Arabia
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5.3.5.3 South Africa
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5.3.5.4 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Ascent Solar Technologies Inc.
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6.4.2 Avancis GmbH
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6.4.3 Cicor Management AG
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6.4.4 First Solar
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6.4.5 Hanergy Thin Film Power Group Europe
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6.4.6 Kaneka Corporation
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6.4.7 Moser Baer India Limited
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6.4.8 Stanford Advanced Materials
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6.4.9 Solar Frontier Kabushiki Kaisha
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6.4.10 Trony Solar Holdings Co. Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Thin Film Materials Industry Segmentation
The report on the thin film material market t includes:
| Type | |
| Copper Indium Gallium Selenide (CIGS) | |
| Cadmium Telluride (CdTe) | |
| Amorphous Silicon (a-Si) | |
| Other Types |
| Application | |
| Photo voltaic (PV) Cells | |
| Semiconductors | |
| Microelectromechanical systems | |
| Other Applications |
| Geography | ||||||||
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Thin Film Materials Market Research FAQs
What is the current Thin Film Material Market size?
The Thin Film Material Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Thin Film Material Market?
Ascent Solar Technologies, Inc, Stanford Advanced Materials, Cicor Management AG , Hanergy Thin Film Power Group Europe and KANEKA CORPORATION are the major companies operating in the Thin Film Material Market.
Which is the fastest growing region in Thin Film Material Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Thin Film Material Market?
In 2024, the Asia Pacific accounts for the largest market share in Thin Film Material Market.
What years does this Thin Film Material Market cover?
The report covers the Thin Film Material Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thin Film Material Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thin Film Materials Industry Report
Statistics for the 2024 Thin Film Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thin Film Materials analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
