September 04, 2018
WELLESLEY, Mass., Sep. 04, 2018–Rising demand for printed circuit boards and rapid growth in the automobile and electronics industry are helping to boost growth of the thick film materials market, according to a new report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 10.8% through 2023, when it could be worth more than $31.9 billion, as outlined in the report Thick Film Materials: Global Markets to 2023.
Major players in the market include Lord, Heraeus Holding, DuPont, Ferro, Sumitomo Metal Mining, Sun Chemical, Noritake, Henkel, Novacentrix, Indium, Arraycom and Vorbeck Materials.
“The United States should continue to remain a leading player as it brings new technologies to the market,” the report’s authors noted. “Improving economic conditions and introduction of new products into the market are expected to drive the growth of thick film materials in the region. Growth for thick film materials is also observed in Europe and Rest of World as economic conditions continue to improve.”
Market Restraints Include High Costs and Need for Investments in R&D
Although growth overall is projected to be steady, several factors are restraining the industry, the report adds. Chief among them is the high cost of thick film materials, which include gold and silver. Increases in these and other raw materials will add to the final cost of products. Meanwhile, consumer demands for new products with better features means that large investments are needed for research and development activities.
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Thick Film Materials: Global Markets to 2023( AVM181A )
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