Thin Film Chip Resistor Market to Witness Exponential Growth by 2031

Allied Market Research, in a report titled "Thin Film Chip Resistor Market," states that the thin film chip resistor market size was valued at $631.20 million in 2021 and is estimated to reach $1.1 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

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The term "thin-film resistor" is also known as a metal film chip resistor and refers to a resistor that makes use of a thin resistive layer. A ceramic base is positioned underneath this layer. This resistor has an extremely small thickness of only 0.1 microns compared to thick film resistors. These resistors are typically employed in higher precision technologies because they are more accurate, stable, and have a superior temperature coefficient. Although they appear to be identical, thick film and thin film resistors have different manufacturing processes.

The thin film chip resistor market share is growing as a result of new trends and technological advancements such as smartphones, luxury cars, and others. Developments in sensors, connectivity, processing power, and other sectors enable enterprises to create products and services that are more efficient and productive. Chip resistors are used in advanced systems because they are more frequently required for the devices or systems to operate well. As a result, the demand for chip resistors is growing as digitization levels increase. This factor is expected to drive the thin film chip resistor market growth.

The cost of raw materials such as nickel, copper, aluminum, zinc, and others, which are used in the manufacturing of thin film chip resistors, is high. Additionally, the cost of chip resistors is rising due to advancements in electronic technology aimed at making them more eco-friendly. Chip resistor production requires high-priced raw materials, which drives up the cost of manufacturing in general. Therefore, the high price of raw materials hinders the thin film chip resistor market growth in the future.

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The global thin film chip resistor market is rapidly expanding as a result of advancements in emerging technologies such as electric and driverless cars, 5G, and the Internet of Things (IoT). The Internet of Things will be a major driving factor in the continued growth of technology. In the coming year, it will present several opportunities for component makers and suppliers. According to the Global System for Mobile Communications Association (GSMA), there will be around 25.1 billion IoT devices globally by 2025.

The global Thin Film Chip Resistor Market Analysis is segmented based on type, application, end-user, and region. By type, it is classified into Ultra Precision 0.05% Tolerance, 0.1% Tolerance, 1% Tolerance, and Others. As per application, it is classified into instrumentation, medical instruments, power supply, electric power equipment, electronic digital products, and others. According to end-users, it is classified into industrial equipment, consumer electronics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the thin film chip resistor market report include Elektronische Bauelemente GmbH (EBG), Ever Ohms Technology Co., Ltd., KOA, Panasonic, Ralec Electronics Corp., Rohm Co., Ltd., Samsung Electro-Mechanics, Ta-I Technology Co., Ltd., Tateyama Kagaku Industry Co., Ltd., and Uniohm.

The report offers a comprehensive analysis of the global thin film chip resistor market trends by thoroughly studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold the power to obstruct the market growth are also profiled in the report, along with Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

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Key Findings of the Study

• Based on type, the Ultra Precision 0.05% Tolerance sub-segment emerged as the global leader in 2021, and the 0.1% Tolerance sub-segment is anticipated to be the fastest-growing sub-segment during the forecast period.
• According to the application, the instrumentation sub-segment emerged as the global leader in 2021, and the electronic digital products sub-segment is predicted to show the fastest growth in the upcoming years.
• As per end-users, the industrial equipment sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
• Region-wise, the North America market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.

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