Thick Film Resistor Market Size

Thick Film Resistor Market Analysis

The Thick Film Resistors Market was valued at USD 682.5 million during the current year and is anticipated to reach USD 937.13 million by the end of the forecast period, registering a CAGR of around 5.2% during the forecast period. One of the primary factors driving the Thick Film Resistor Market is that resistor manufacturers are extensively investing in research & development to improve the efficiency of thick film resistors.

• Another factor driving the Thick Film Resistor Market is the rapid rise of the consumer electronics and automotive markets. Thick film resistors are one of the most common main components found in automotive and consumer electronics applications. The global Thick Film Resistor Market is expected to grow further as consumer spending and global investment increase.
• Rising IC, electric, and hybrid vehicle sales, as well as government regulations to improve fuel efficiency and safety standards, have prompted OEMs to install more electrical and electronic devices, driving the market in the automotive industry. Furthermore, robust technological advancements in electronic goods and the increasing adoption of fast networks (4G/5G networks) around the world have increased demand for products containing thick film power resistors. These factors are expected to drive the thick film resistor market this year.
• Furthermore, due to its broad application in the electric and hybrid vehicle segments, hybrid electric vehicles are expected to outperform thick-film and shunt resistors. The HEV has an internal combustion engine, an electric drive system, and a broader array of other technologies, such as regenerative braking, enhanced engine assistance, actuators, and an autonomous start/stop system. These technologies necessitate more complex electrical and electronic equipment for extra power. Implementing such technologies, combined with the increased demand for HEVs, would boost the market for thick layers and shunt resistors. According to the China Association of Automobile Manufacturers, China produced almost 2.9 million battery-electric vehicles in 2021, up 166% from the previous year. Around 601,000 plug-in hybrid vehicles were produced in China in the same year, up 131% from the year before
• On the flip side, thick film resistors present several manufacturing and performance challenges. For example, different laser trim designs and shapes present different manufacturing challenges and yield different strengths and weaknesses in the performance of the resistor. Further, Thick film resistors can be sensitive to environmental and thermal effects, which can cause performance degradation or failure over time. Working with low ohmic values can be challenging for designers, especially in maintaining dimensional accuracy and minimizing fluctuations in resistance.
• The COVID-19 pandemic led to enormous disruptions in supply chains across industries globally, due to which many businesses worldwide halted or reduced operations to help combat the spread of the virus. The pandemic impacted the thick film resistor components market, leading to decreased operation levels across the supply chain on the component production and raw material production level. This represents a fall in sales among a range of regions and countries. However, certain companies kept their factories and facilities operational. For instance, Ohmite kept its China factory for resistors fully operational during the first quarter of the pandemic Walsin and Yageo Technology said their Taiwan factories were fully operational, despite labor shortages.