Thin Film Materials Market Overview
The Thin film materials market is anticipated to grow more than four percent during the forecast time. The primary reason behind the Growth of thin film is because of its numerous uses in photovoltaic solar cells to generate solar energy. Other elements driving the growth in the Thin Film Materials Market include its use in electronic components like printed circuit boards, sensors, capacitors, etc. On the other hand, the existence of similar alternatives, such as crystal silicon, etc., can hinder the expansion in the marketplace.
- The primary use for the thin films is photovoltaic cells due to their characteristics like light and flexibility, slim cell variations, and other traits compared to traditional silicon technology.
- The Asia-Pacific region is expected to have the highest thin film market share thanks to the area’s massive photovoltaic solar power stations.
Thin Film Materials Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
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Scope of the Report
The report on the thin film materials market includes:
|Copper Indium Gallium Selenide (CIGS)|
|Cadmium Telluride (CdTe)|
|Amorphous Silicon (a-Si)|
|Photo voltaic (PV) Cells|
Key Market Trends of Thin Film Materials Market
- Applications of the thin film in photovoltaic solar cells power generation have boosted the research and are predicted to be the most significant consuming segment over the forecast time.
- Thin-film materials offer advantages such as being lightweight, flexible, and cell variations ranging from a few nanometers (nm) to 10 micrometers (um) because of which they are preferred over other approaches such as the crystalline silicon solar cells (c-Si).
- These films can also build integrated photovoltaics and semi-transparent photovoltaic glass material that can be laminated to windows.
- Thanks to the rapid advancement of technology, it is now possible to incorporate photovoltaics (PV) on the sides of structures, replacing windows made of glass with an opaque thin film that is semi-transparent and simultaneously producing energy that is clean in the systems.
- Combining these factors with the government’s support for renewable energy generation is expected to boost the global thin film materials market in the coming years.
Asia-Pacific Region to Dominate the Thin Film Materials Market
- The Asia-Pacific region has the highest market share for thin film materials market globally and is forecast to be the fastest-growing area in the coming years.
- India and China have the world’s largest solar photovoltaic power plants by capacity around the world.
- The Tengger solar park in China is found within Zhongwei, Ningxia, covering around 1,200 kilometers of the Tengger desert. It can produce 1,547 megawatts of power.
- Bhadla solar farm in India, located in The Jodhpur district within Rajasthan, will begin operation in 2020. The capacity of the plant is anticipated to generate 2,255 megawatts of electricity. It is spread over an area of 45 sq km.
- Innovative projects in the region, such as Thin-Film Solar Wall Project in Heyuan City, Guangdong province in China, are expected to open doors to the market being studied.
- Therefore, based on the above factors, the Asian-Pacific market for film-based thin films is anticipated to increase significantly in the coming years.
Thin film manufacturing process is gathered via primary research. The top players operating in the thin film materials market business are Ascent Solar Technologies, Inc, Stanford Advanced Materials, Cicor Management AG, Hanergy Thin Film Power Group Europe, and Kaneka Corporation.
Thin Film Manufacturers
- Ascent Solar Technologies, Inc
- Stanford Advanced Materials
- Cicor Management AG
- Hanergy Thin Film Power Group Europe
- Avancis GmbH
- Moser Baer India Limited
- Solar Frontier Kabushiki Kaisha
- First Solar
- Kaneka Corporation
- Trony Solar Holdings Co. Ltd
MWR’s research methodology is based on extensive use of secondary and primary data sources. The research involves the analysis of various aspects impacting the industry, including the policies of the government, the competitive landscape, the market environment and historical data, as well as current developments in the market technological innovation, emerging technologies, and the advancement of technology in related industries, and potential market risks as well as market barriers and issues.
Market Size Estimation
Bottom-up and top-down approaches are employed to verify the size of the global product market and to estimate the size of the Thin Film Materials Market for companies’ regions, regions segment as well as product segments and applications (end users). The market estimates are built on the product’s retail price (excluding discounts offered by the distributor, manufacturer, wholesaler, trader, or).
Partially splits, market shares and breakdown of product segments are calculated based on the weights allocated to each segment based on their usage rate and average sale price. The regional splits of the total product market and sub-segments are determined by the per cent of adoption or use of the particular product within the specific region or country.
Top key players of the Thin Film Materials Market is determined through secondary data, and the market revenue is determined by secondary and primary approach. Secondary research comprised the study of financial and annual reports of the largest companies. In contrast, primary research involved extensive interviews with opinion makers and experts in the industry like experienced front-line employees, directors, CEOs, and marketing managers.
The Thin Film Materials Market share, percentage splits and Growth Rate, as well as the market structure of the product, are calculated from secondary sources and then verified by primary sources. All potential factors that affect the markets are verified by conducting primary analysis, and then analyzed to obtain the final qualitative and quantitative results.
Market Breakdown, Data and Triangulation
After completing market engineering, including calculations of market statistics, size estimations, forecasting of market breakdown, and data triangulation, a lot of analysis are then conducted to collect details and to confirm the numbers to be verified.
Throughout the entire method of market engineering, top-down and bottom-up methods are were widely used, together with a variety of triangulation techniques for market estimation and forecasting of market trends for the entire market segment and sub-segments . A thorough analysis of quantitative data is also carried out using all the data gathered during the entire market engineering process to present important information throughout the Thin Film Materials Market research.
Data Sources of Thin Film Materials Market
Secondary sources include annual reports, press releases, non-profit organizations and industry associations, government agencies, customs information, and others. This study focuses on extensive use of secondary sources, directories, databases, and directories like Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones and Company) and trading ECONOMICS and News Network, Statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS and company house documents CAS (American Chemical Society) and investor presentations along with SEC filings of corporations.
Secondary research are utilized to discover and gather details that could be used for a thorough technological, market-oriented and commercial analysis of the product market. It also helps collecting necessary information on the most prominent companies, market classification and segmentation by market trends from the lowest level, and critical technological and market developments.
For the research process, different sources from both the demand and supply sides are being interviewed to collect quantitative and qualitative information. The primary sources on the supply side comprise companies (and their rivals) and opinion leaders, experts from the industry and research institutes, distributors, traders and dealers, raw material suppliers and producers, etc.
The primary sources for demand-side information are industry experts, such as business leaders, sales and marketing directors, directors of innovation and technology supply chain executives, the market (product buyers) and top executives from a variety of key organizations and companies operating globally.
The primary studies are then conducted to find segments, types of segmentation, price ranges, application of the product important company, raw materials supply and demand downstream as well as the status of the industry and its forecast, and the fundamental market dynamics, such as risk factors, influence factors and opportunities obstacles to market entry, trends in the industry, and the strategies of key players.
COVID-19 impact Analysis of Thin Film Materials Market
To understand the impact of COVID, we must understand the supply chain of the industry and the value chain. By analysing the supply chain, we understand the bottlenecks affecting the industry’s growth. And by analysing the value chain, we understand what value each component adds to the entire industry. We then try to understand the COVID impact has on the industry by trying to find answers to the following questions:
How many jobs have been lost?
How many people have died due to COVID?
How did the Government respond, and what measures Government has taken to revive a Thin Film Materials Market industry?
How companies have responded to COVID in the Thin Film Materials Market ?
What growth rate companies are expecting in the Thin Film Materials Market ?
We also analyze their annual reports and press releases to understand their strategies post COVID. Then we move towards the primary research part and contact government officials and industry experts such as CEOs, COOs, Directors, VPs, Directors and Managers to understand what impact COVID has had on their businesses and what they are doing to cope with it.
We also try to understand their views regarding other financial aspects, such as recovery and obstacles in achieving pre-COVID growth and when they expect to achieve it.
Finally, after gathering the info from secondary and primary research, we try to form a model through which we gauge the COVID impact on a particular industry. ( Thin Film Materials Market )
A similar report on film coating market will be released by MWR soon.