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Global thin film market: 34% CAGR growth expected between 2012-2016

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Global Thin Film Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-28 00:55:01
The Global Thin Film market is to grow at a CAGR of 33.80 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of solar energy. The Global Thin Film market has also been witnessing various governments increasing investing in the Solar industry. However, the shortage of raw material used for the production of thin films could pose a challenge to the growth of this market.The increased investment by various governments in the Solar industry is a major trend in the Global Thin Film market. Various national authorities across the globe are encouraging companies to manufacture thin films because thin films use fewer materials in the process of manufacturing and ultimately cost less. Also, these thin films can be used to generate energy on a larger scale. In the US, Canada, and Japan, governments have been offering grants to produce solar cells and modules using thin films.The Government of Canada, for instance, has invested US$1.7 million in generating emission-free electricity in many remote locations in Canada through solar cells. Similarly, the European Commission has offered TEL Solar, a thin films manufacturer, US$13.2 million to produce thin films under the Framework Programme for Research of the European Union. California-based SoloPower Inc. has been offered support from the Department of Energy to expand its thin film production.One of the major reasons for this increase in solar energy consumption is the depletion of fossil fuels for power generation. Additionally, the harm caused by GHGs released due to the increase in usage of fossil fuels is also increasing the usage of renewable and less harmful energy sources such as solar energy. As a result, the increase in the usage of solar power will in turn increase the growth of the Global Thin Film market in the future.One of the major challenges in this market is the shortage of raw material used for the production of thin films. There is uncertainty around the availability of various thin films raw materials such as indium and tellurium. The increased usage of thin films in the Solar industry can have a negative impact on the availability and supply of indium and tellurium for use in other industries. This will in turn adversely affect growth of the market in the future.The key vendors dominating this space include First Solar Inc., Sharp Corp., Trony Solar Holdings Co. Ltd., and United Solar Ovonic LLC. The other vendors mentioned in this report are Anwell Technologies Ltd., Ascent Solar Technologies Inc., Auria Solar Co. Ltd., Avancis GmbH & Co. KG., Best Solar Hi-Tech Co. Ltd., Bosch Solar Energy AG, ENN Solar Energy Co. Ltd., Global Solar Energy Inc., Kaneka Corp., Keneka Solartech Co. Ltd., Masdar PV GmbH, MiaSole Inc., Mitsubishi Heavy Industries Ltd., Moser Baer India Ltd., Nanosolar Inc., NexPower Technology Corp., Q-Cells International GmbH, RITEK Corp., Solar Frontier Kabushiki Kaisha, Solyndra Inc., Sulfurcell Solartechnik GmbH, Suntech Power Holding Co. Ltd., and Wurth Solar GmbH & Co. KG.

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