Players in the thin film material market are moving forward with a focused approach to remain competitive
Having been around since the mid-eighties, thin film technologies only had its first significant breakthrough eight or nine years ago as the industry was looking for next generation technologies to replace the maturing crystalline silicon (c-Si). A large amount of venture capital investment went towards the promising new technologies such as Copper Indium Gallium Selenide (CIGS), Cadmium Telluride (CdTe), and amorphous silicon (a-Si).
The thin film material industry has a relatively mild threat from substitutes as there are only few factors that can lead to their substitution; however, their effects are not very significant. Advanced inorganic thin films, multi-junction silicon thin films, and multicrystalline thin films are some of the other technology types of thin film material. The advent of new technologies such as multi-crystalline thin films, which have more efficiency when compared to existing thin films, pose a threat to the existing thin film material. However, their growth is also limited due to their expensive nature.
In 2013, market revenues for thin film material declined as compared to the revenues of 2012. This was due to the economic crisis affecting several companies globally; many companies went bankrupt or were acquired by rival companies. The companies which survived during this crisis experienced reduced business as the markets plunged globally. As the global economy is recovering, coupled with government regulation and funding, the thin film material market is anticipated to have a steady growth in the future.
Acquisition is a popular growth strategy among the players in the thin film material market. Some of them also relied on acquisition of their weakened counterparts so as to increase their market presence. The companies have also undertaken a significant amount of R&D in order to develop highly efficient and effective products to cater to the growing demands of customers. The market is mainly R&D driven and hence, the product life cycle is long and the commercialization process takes significant time. The long wait for any new entrant may prove to be a deterrent.
There are a lot of regional as well as global players that operate in this market. The players in the thin film material market include global companies such as, Anwell Solar (Hong Kong), Ascent Solar (U.S.), Avancis GmbH & Co. (Germany), Cicor Group (Switzerland), First Solar (U.S.), Hanergy (China), Kaneka (Japan), Masdar PV (Germany), Moser Baer (India), Solar Frontier (Japan), Suntech Power Co. Ltd. (China), and Trony Solar Holdings Co. Ltd. (China) have also been profiled in this report.
Related Reports:
Thin Film Material Market By Type (CdTe, CIGS, a-Si, Others), End-User Industry [Photovoltaic Solar Cells, MEMS, Semiconductors and Electrical (Circuit Boards), Optical Coating, Others], and Deposition Processes – Global Trends & Forecast to 2018
https://www.marketsandmarkets.com/Market-Reports/thin-film-material-market-232915487.html
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