Global Thick Film Devices Market to Reach US$ 364.4 Billion by 2032, Propelled by Growing Demand for Consumer Electronics

October 10, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “Thick Film Devices Market Report by Type (Capacitors, Resistors, Photovoltaic cells, Heaters, and Others), End-user (Automotive, Healthcare, Consumer Electronics, Infrastructure, and Others), and Region 2024-2032,” the global thick film devices market size reached US$ 135.1 Billion in 2023. Thick film devices are a class of electronic components that play a pivotal role in modern electronics manufacturing. These devices are characterized by their unique manufacturing process, which involves the deposition of specialized thick film materials, such as conductive and resistive pastes, onto a substrate, typically ceramic. These thick film materials are applied through advanced printing techniques, including screen printing or inkjet printing, resulting in a highly integrated and compact electronic circuitry that offers superior performance and durability. Thick film devices encompass a wide array of components, including resistors, capacitors, and inductors, all of which find extensive utilization in various electronic applications across industries.

Global Thick Film Devices Market Trends:

The exponentially growing demand for smaller, lighter, and more power-efficient electronic devices, including smartphones, tablets, and wearables, has fueled the need for compact and high-performance electronic components, such as thick film devices, primarily driving the market growth. Besides this, the automotive industry is embracing thick film technology in the design and manufacturing of advanced electronic control units (ECUs) and sensors, enhancing vehicle performance, safety, and fuel efficiency, which is creating a favorable outlook for market expansion. Moreover, the global shift towards renewable energy sources and the subsequent surge in the production of solar panels and wind turbines that rely heavily on thick film resistors and capacitors to ensure stable and efficient energy conversion is strengthening the market growth. Concurrently, the expanding need for advanced medical equipment, such as diagnostic devices and patient monitoring systems, has heightened the demand for precise and reliable thick film components that enable accurate measurements, ensuring the effectiveness of medical treatments and diagnostics, thereby bolstering the market growth. Additionally, the increasing automation of industrial processes, wherein thick film resistors and sensors play a pivotal role in ensuring precise control and monitoring of manufacturing processes, is contributing to the market growth. Furthermore, the rising deployment of fifth-generation (5G) infrastructure within the telecommunications industry relies on thick film components for their high-frequency capabilities and stability, thereby fostering market growth. Apart from this, ongoing advancements in materials, including conductive inks with enhanced conductivity and thermal stability, and improvements in printing technologies enabling the production of smaller and more complex thick film devices, are propelling the market forward. Looking forward, the market value is projected to reach US$ 364.4 Billion by 2032, expanding at a CAGR of 11.31% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented into capacitors, resistors, photovoltaic cells, heaters, and others. Among these, capacitors dominate the market, holding the largest share.
  • On the basis of the end-user, the market has been categorized into automotive, healthcare, consumer electronics, infrastructure, and others. At present, automotive accounted for the largest market share.
  • Based on the region, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Currently, Asia Pacific represents the largest market for thick film devices.
  • The competitive landscape of the market has also been examined, with some of the key players being Bourns Inc., Ferro Techniek BV, KOA Speer Electronics Inc. (KOA Corporation), Panasonic Corporation, Rohm Semiconductor GmbH, Samsung Electronics Co. Ltd., TE Connectivity Ltd, Thermo Heating Elements LLC, Vishay Intertechnology Inc., Watlow Electric Manufacturing Co., Würth Elektronik GmbH & Co. KG., and YAGEO Corp., etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Type
  • End-user
  • Region
Types Covered Capacitors, Resistors, Photovoltaic cells, Heaters, Others
End-users Covered Automotive, Healthcare, Consumer Electronics, Infrastructure, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bourns Inc., Ferro Techniek BV, KOA Speer Electronics Inc. (KOA Corporation), Panasonic Corporation, Rohm Semiconductor GmbH, Samsung Electronics Co. Ltd., TE Connectivity Ltd, Thermo Heating Elements LLC, Vishay Intertechnology Inc., Watlow Electric Manufacturing Co., Würth Elektronik GmbH & Co. KG., YAGEO Corp., etc.
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Thick Film Devices Market to Reach US$ 364.4 Billion by 2032, Propelled by Growing Demand for Consumer Electronics
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