Thin Film Material Market Is Expected To Grow Owing To Surge In Usage In Renewable Energy Applications: Grand View Research, Inc.
Latest Report, “Global Thin Film Material Market Analysis, Size And Segment Forecasts To 2020” is available at Grand View Research database
Increasing demand for energy efficiency and technological miniaturization is presumed to positively aid the global thin films market for the next six years. Thin film end-use industries are spread over a wide spectrum such as renewable energy, electrical & optical coatings, microelectromechanical systems and semiconductors. Advancements in semiconductors and increasing thin film acceptance in solar PV applications are slated to aid the overall market growth. Government policies and incentives encouraging more thin films usage in renewable energy applications is expected to further drive the market growth and play a vital role in shaping the global thin films industry. Renewable energy initiatives, such as solar power installations, are expected to positively impact the market over the forecast period. Attributes such as low light functionality and flexibility are touted to further compliment the global market growth. Raw material shortage coupled with the paucity of bulk suppliers is presumed to create a supply-demand imbalance and thus negatively impact the market growth. Research initiatives to develop newer applications and better usage in renewable energy operations promise vast opportunities for the industry participants.
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Europe dominated the global thin film market followed by North America and Asia Pacific. Massive renewable energy initiatives in developed as well as emerging economies promise ample opportunities for market growth. Growing electronics and semiconductors demand in emerging markets of China and India is expected to drive Asia Pacific thin films market growth. Government initiatives in China and India to develop solar energy are expected to further drive thin films demand in PV applications. Increasing energy demand in developing nations of Africa coupled with sustainability development initiatives by UN is expected to have a positive impact on the global market.
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Key thin film industry participants include Anwell Solar, First Solar, Cicor Group, Ascent Solar, Masdar PV, Solar Frontier, Moser Baer, Kaneka, Suntech Power Co. Ltd., Hanergy, Trony Solar Holdings Co. Ltd. and Avancis GmbH & Co.
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