Thin Film Resistor Market Size

Thin Film Resistor Market Analysis

The thin film resistor market was valued at USD 670.2 million during the current year and is anticipated to reach USD 914.7 million by the end of the forecast period, registering a CAGR of around 5.04% during the forecast period. In 2020, the COVID-19 pandemic shut down a lot of avenues of raw materials and bulk electronic components, leaving electronics manufacturers with half-finished products and idle capacity. Many members come from supply chains in Asia. As China was ground zero for COVID-19, the shortages started to affect manufacturers worldwide. Component shortages persisted in 2021 also, as many crucial raw materials were in low supply or completely unavailable. The year 2022 also shaped up to be another year indicating a significant impact of COVID-19.

• Thin film resistors are surface-mounted integrated circuit (IC) devices that deliver a known resistance to any electrical current flowing through them. They are obtainable in rectangular or square chip packages and are incredibly compact surface-mounted electronic components. They are utilized to operate, safeguard, and control circuits. Thin film resistors may have a set resistance value, variable, or adjustable chip resistance significance within a particular range.
• The growth of data center infrastructure is one of the critical factors driving the thin film resistors market growth. Many enterprises, such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform, are moving their data to the cloud with the benefit of cloud service providers. The rising adoption of digitalization has considerably increased the volume of data generated and processed by enterprises.
• Companies are adopting data centers and powerful networking technologies to access the data stored in data centers and the data obtained from connected devices. Hence, the growth of data center infrastructure is expected to drive the market's growth during the forecast period.
• Resistors are witnessing significant demand for applications in circuits where tight tolerance, low-temperature coefficient, and low noise properties are essential, like active filters or bridge circuits. For instance, in April 2021, Ashdown launched the AGM-5C Combo music magnifier series equipped with thin metal film resistors. The resistors help keep the secondary hiss levels down, while a PCB with short flying leads is connected to the front-panel controls.
• Further, during the second wave of the pandemic, Vishay Intertechnology, Inc. has introduced a new high-precision, thin-film wraparound chip resistor for industrial, military, and aerospace applications. In addition to offering the most comprehensive resistance value coverage on the market, the Vishay SfernicePEP provides higher power ratings in smaller case sizes than competing devices, which allows miniaturization and improves reliability by reducing the mechanical stress on solder joints.