Thick Film Market: Global Opportunity and Industry Forecast, 2021-2031 Market

Thick Film Market Analysis 2020-2027:

Thick film technology is used in the production of electronic devices such as circuits, heating elements, and sensors. For instance, opening of air bags in a crash is due to installed sensors. The market is expected to register significant growth during the forecast period, owing to increase in demand for solar cells or sensors. Thick film finds several applications in aerospace, military, medical, communications, industrial, and other market segments. Thick films have high tolerance, temperature coefficient, and resistance to moisture. Thick film devices find their use in mechanical and chemical devices, which consists of optical sensors. Increase in the demand for consumer electronic goods across the globe is expected to drive the market in the coming years.

COVID-19 impact analysis

The electronic industry is facing many consequences due the outbreak of the coronavirus. The production facilities are shut down due to disruptions in supply chain and lack of workforce. Moreover, many e-commerce companies such as Amazon and Flipkart have disconnected their supply of nonessential electronic devices. Apple Inc has made an excellent move by stopping the launch of the new iPhone. Similarly, Nissan has suspended its production. However, the demand for laptop and tablet has increased rapidly during this outbreak, due to increase in adoption of work-from-home policies in offices. The market is expected to grow after the lockdown.

Market scenario analysis

The thick film market is expected to witness significant growth in the coming years. The growing demand for new electrical consumer goods and other industrial devices is boosting the global thick film market. In 2018, Saudi Arabia and Japan signed an MoU to build the world’s largest photovoltaic project by 2030. The budget for the project was $200 billion. These kind of projects from various regions are boosting the global thick film market. The government initiative to support innovative devices that helps to reduce the carbon emission offers lucrative opportunity for the market to grow during the forecast period.

Market trend

The utilization of electrical devices is growing rapidly across the world. Consumers are ready to buy electronic device with the latest version of technology. For instance, last year, the world was introduced to on-screen finger print sensor for mobiles. Similarly, various technological advancements in the electronic industry are expected to propel thick film market growth. 

Moreover, the rapid growth in the automotive industry with several applications of thick films foster the market growth. Automotive industry uses various electronic devices in the manufacturing process. The use of electronic vehicles is expected to increase the demand for the product. Datec Coating Corporation was awarded with $1.3 million for its innovative program for electric and hybrid vehicles.

The governments across the world are highly focused on investments in infrastructure and communication projects, which fuels the demand for thick films. The UK Government is launching a project toward the national infrastructure and construction pipeline project in communication sector, which will create potential growth opportunities for the market during the forecast period.

Regional insights

Asia-Pacific is expected to witness huge growth in the forecast period. Emerging economies such as India and China are investing rigorously in their private and public infrastructure. India is having various campaigns such as “Make in India,” which encourages foreign direct investments. This has a positive impact on the thick film market. Moreover, China is home to three out of top five smartphone companies in the world. This helps the market for thick films to grow in a faster pace in the region.

According to the India Electronics and Semiconductors Association, the semiconductor market is expected to witness significant growth in the future. This is attributed to the country’s excellent R&D center. This further attracts government funding, which provides ample opportunities for thick film market to grow.

Competitive analysis

Some of the strong thick film players include General Electric, Samsung, Panasonic, and Sharp. The entry to the market for new players is difficult due to the strength of the existing players. In January 2019, AVX Corporation, a leading manufacturer and supplier of advanced electrical components, introduced a new line of ultra-miniature thin films transmission line capacitors. The new capacitors are more reliable and resistant to electromagnetic challenges. In January 2019, Ferro Technik launched FTH XL, a flow through heater based on thick film technology, which offers a max capacity of 3400W at 230 V. This is expected to propel the thick film market growth.

Key benefits of the report

• This report presents the analytical depiction of the global thick film industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• The report provides a detailed market analysis depending on competitive intensity and how the market will take shape in coming years. 

Questions answered in the global thick film market research report:

• Which are the leading market players active in the global thick film market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Thick Film Market: Global Opportunity and Industry Forecast, 2020–2027 Report Highlights