(PRWEB) July 09, 2014
The thin film material market is expected to grow steadily in Europe, but will continue to grow at a rapid pace in Asia-Pacific. The countries such as China and Japan are the major contributors to the emerging market of Asia-Pacific. The North American markets for thin film material will also continue to grow at a significant rate. The African and Latin American markets have still not realized their full potential, but their growth rates would be considerably higher as compared to the others, owing to low base effect.
The thin film materials market is estimated to grow from $6,500 million in 2013 to $10,250 million by 2018, at a CAGR of 9.5% from 2013 to 2018. The European market is expected to reach $4,062 million by 2018, at a CAGR of 8.5%. The European market will dominate the global market during the next five years, due to an increased awareness about the benefits of solar energy. Europe has conventionally always been a strong market for thin film materials. Globally, this market has been one of the leaders with respect to demand as well as product innovation, in terms of quality and application development.
Browse through the market data tables, figures and detailed ToC on the “Europe Thin Films Material Market”.
North American Thin Films Material Market
North America is also a strong market for thin film materials. The key countries in the North American market are the U.S. (the most dominant market, accounting for a significant market share) and Canada. Due to an increase in the demand for advanced materials in existing and emerging applications, the thin film materials market is experiencing significant growth. This market by the deposition process for the North American region is estimated to be $3,407 million by 2018, up from $2,146 million in 2013 at a CAGR of 9.7%, from 2013 to 2018. Thin film materials of the physical process for the North American region are expected to grow at a CAGR of 11.7% from 2013 to 2018.
Asia-Pacific Thin Films Material Market
The growing demand for energy and basic materials in Asia-Pacific will propel the region to increase the production of metals, chemicals, and paper. With the increasing infrastructure expenditure, the thin film materials market in Asia-Pacific is bound to grow significantly, and will outpace other regions. Asia-Pacific recorded $1,628 million in 2012. The market here is estimated to grow at a CAGR of 10.9% to increase from $1,430 million in 2013 to $2,400 million by 2018.
Middle East and Africa Thin Films Material Market
The Middle East and Africa have one of the world’s most prolific oil and gas industries, which have been growing at a rapid pace in the past and will continue to do so in the decades to come. The rapid growth in the infrastructure in this region, especially in countries such as Saudi Arabia and South Africa, has established a huge potential market for thin film materials.
Latin America Thin Films Material Market
Over the last decade, Latin America has experienced a significant economic growth. Latin America consists of developing and emerging markets, with Brazil leading the market. Latin America had a market of $78.7 million in 2012, and is estimated to grow at a CAGR of 13.5%, increasing from $69.5 million in 2013 to $131.2 million by 2018.
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