Thick Film Materials Global Market Report 2025

The thick film materials market size has grown strongly in recent years. It will grow from $17.03 billion in 2024 to $18.58 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth during the historic period can be attributed to rising automotive production, increasing demand for consumer electronics, expansion of telecommunications infrastructure, growth in photovoltaic installations, and government investments in infrastructure.

The thick film materials market size is expected to see strong growth in the next few years. It will grow to $25.94 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period is expected to result from increasing adoption of electric vehicles, rising demand for miniaturized electronics, growth in renewable energy applications, government policies supporting emissions reduction, and expansion of telecom networks for 5G. Key trends in the forecast period include miniaturization of electronic devices, development of lead-free and eco-friendly materials, integration of thick film technology in hybrid circuits, demand for energy-efficient electronic components, and localization of manufacturing to mitigate supply chain risks.

The increasing demand for consumer electronics is expected to drive growth in the thick film materials market. Consumer electronics such as smartphones, laptops, televisions, and household gadgets are seeing rising adoption globally, which in turn increases production of electronic components and specialized materials. Thick film materials play a critical role in manufacturing resistors, circuit boards, and hybrid integrated circuits that power these devices. For example, in May 2023, Japan’s electronic equipment production reached approximately USD 5.6 billion, with consumer electronics output rising to around USD 233 million, up from USD 183 million in May 2022. This growing demand underscores the importance of thick film materials in supporting the expanding electronics sector.

Key companies in thick film materials market are focusing on developing flexible and stretchable conductive materials to support next-generation electronics. These materials maintain conductivity while being bent, stretched, or twisted, enabling wearable, foldable, and flexible devices with improved durability and design versatility. For instance, in September 2022, DuPont de Nemours Inc. launched the Micromax brand, consolidating its previous Microcircuit and Component Materials products. The Micromax portfolio includes GreenTape, Heatel, Intexar, and Fodel, offering nearly 800 specialized products that enhance circuit performance, reliability, and enable innovative device designs across sectors such as automotive, telecom, healthcare, consumer electronics, and defense.

In April 2022, Prince International Corporation acquired Ferro Corporation for approximately US$2.1 billion, merging it with Chromaflo Technologies and rebranding the combined entity as Vibrantz Technologies Inc. This acquisition created a diversified leader in advanced materials, color solutions, and performance coatings, leveraging combined expertise to accelerate innovation, expand market reach, and deliver enhanced value across multiple industries. Ferro Corporation specializes in thick film materials, further strengthening Vibrantz Technologies’ portfolio in high-performance electronic materials.

Major players in the thick film materials market are Heraeus Holding GmbH, Henkel AG & Co. KGaA, Parker-Hannifin Corporation, TE Connectivity Ltd., Kyocera Corporation, DuPont de Nemours Inc., Sumitomo Metal Mining Co. Ltd., Sun Chemical Corporation, KYOCERA AVX Components Corporation, Vishay Intertechnology Inc., CoorsTek Inc., Morgan Advanced Materials plc, Noritake Co. Limited, Mitsuboshi Belting Ltd., KOA Speer Electronics Inc., Arraycom (India) Limited, CMS Circuit Solutions Inc., Koartan Microelectronic Interconnect Materials Inc., Hybrid Sources Inc., and Micro Precision Technologies Inc.

Asia-Pacific was the largest region in the thick film materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in thick film materials report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid rise in U.S. tariffs and the subsequent trade frictions in spring 2025 are having a major impact on the electrical and electronics sector, with semiconductors, display panels, and rare-earth metals (essential for batteries and motors) subject to steep duties. Consumer electronics brands face profit erosion, as competitive markets limit their ability to pass costs to buyers. Industrial electronics manufacturers, meanwhile, grapple with delayed projects due to shortages of tariff-impacted components like printed circuit boards. Companies are responding by relocating assembly to tariff-exempt countries, increasing inventory buffers, and redesigning products to reduce dependency on restricted materials.

The thick film materials market research report is one of a series of new reports that provides thick film materials market statistics, including thick film materials industry global market size, regional shares, competitors with the thick film materials market share, thick film materials market segments, market trends, and opportunities, and any further data you may need to thrive in the thick film materials industry. This thick film materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Thick film materials are specialized electronic materials designed to create conductive, resistive, or dielectric layers on various substrates using printing and high-temperature firing techniques. They consist of finely ground inorganic powders, such as metals, oxides, or ceramics, combined with organic binders and solvents, allowing them to be applied as pastes or inks. During firing, the organic components burn off, leaving a dense, adherent, and functional layer with precise electrical properties.

The main types of thick film materials include conductive thick film materials, insulative thick film materials, and hybrid thick film materials. Conductive thick film materials are pastes containing metal particles and glass frit, which are screen-printed and fired onto substrates to form durable conductive pathways in electronic components. Based on formulation, they include water-based, solvent-based, and paste formulations. These materials are used in applications such as circuit boards, electronic components, low-temperature co-fired ceramics (LTCC), sensors, photovoltaics, automotive electronics, and more. Key end-use industries include automotive electronics, industrial electronics, medical electronics, and aerospace.

The countries covered in the thick film materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thick film materials market consists of sales of carbon pastes, overcoat pastes, polyimide-forming pastes, gold and platinum conductor pastes, and stretchable pastes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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