Thin film material market worth $10,250 million by 2018

DALLAS, USA: The report "Thin Film Material Market, By Type (CdTe, CIGS, a-Si, Others), End-User Industry , and Deposition Processes - Global Trends & Forecast to 2018" , defines and segments the thin film material market with an analysis and forecast of the market value. The thin film material market value expected to grow by significant CAGR to reach $10.25 billion by 2018.

The advantages offered by thin film material in industrial as well as domestic operations, coupled with the rising demand for efficiency and miniaturization, will continue to drive the thin film material market. The growing demand from end-user industries would be responsible for the growth of thin film material market at a very swift pace in the future.

Globally, thin film material manufacturing companies are dependent on the government funding and subsidies. During the global economic crisis, U.S. and the European countries were affected the most. Many countries such as the USA and Germany stopped the funding subsidies provided to the thin film material manufacturing companies. This resulted in bankruptcy, closure, or acquisition of these companies by their Chinese counterparts.

It also affected the thin film material market adversely causing the revenues to decline in 2013. But the recovering global economy combined with the stringent government regulation and funding from venture capitalists is estimated to provide the market with a necessary boost in the future.