Thin Film Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The thin film material market is segmented by Type (Copper Indium Gallium Selenide (CIGS), Cadmium Telluride (CdTe), Amorphous Silicon (a-Si), and Others), Application (Photovoltaic (PV) Cells, Semiconductors, Microelectromechanical systems, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa)

Market Snapshot

Thin Film Material Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Thin Film Material Market Major Players

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Market Overview

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.

Scope of the Report

The report on the thin film material market t includes:

Copper Indium Gallium Selenide (CIGS)
Cadmium Telluride (CdTe)
Amorphous Silicon (a-Si)
Other Types
Photo voltaic (PV) Cells
Microelectromechanical systems
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

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.
Thin Film Material Market Share

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 Material Market Analysis

Competitive Landscape

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.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Photo voltaic (PV) Cells

      2. 4.1.2 Increasing Application in Electronic Components

    2. 4.2 Restraints

      1. 4.2.1 Availability of Close Substitutes

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Copper Indium Gallium Selenide (CIGS)

      2. 5.1.2 Cadmium Telluride (CdTe)

      3. 5.1.3 Amorphous Silicon (a-Si)

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Photo voltaic (PV) Cells

      2. 5.2.2 Semiconductors

      3. 5.2.3 Microelectromechanical systems

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Spain

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Aregentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. United Arab Emirates

        2. Saudi Arabia

        3. South Africa

        4. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Ascent Solar Technologies Inc.

      2. 6.4.2 Avancis GmbH

      3. 6.4.3 Cicor Management AG

      4. 6.4.4 First Solar

      5. 6.4.5 Hanergy Thin Film Power Group Europe

      6. 6.4.6 Kaneka Corporation

      7. 6.4.7 Moser Baer India Limited

      8. 6.4.8 Stanford Advanced Materials

      9. 6.4.9 Solar Frontier Kabushiki Kaisha

      10. 6.4.10 Trony Solar Holdings Co. Ltd

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Thin Film Material Market market is studied from 2016 - 2026.

The Thin Film Material Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Ascent Solar Technologies, Inc, Stanford Advanced Materials, Cicor Management AG , Hanergy Thin Film Power Group Europe, KANEKA CORPORATION are the major companies operating in Thin Film Material Market.

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