The thick film resistor market is expected to witness potential growth of USD 2.96 billion, at a CAGR of 7.23% from 2020 to 2025, according to this latest market outlook.
The market is expected to be driven by factors such as increasing demand for high-performance electrical and electronic products, surging adoption of 5G networks, and increasing demand for advanced features in electronic vehicles. However, disruption in demand and supply of thick film resistors, heavy investments in Research and Development, and lack of profit margins due to the reducing prices are a few of the factors likely to impede the market growth.
By application, the market is segmented into industrial and consumer. In 2021, the industrial application segment held the largest thick film resistor market share. The segment is likely to continue its dominance in the market during the forecast period. The growth can be attributed to the surging use of thick film resistors, particularly, in the electronics and telecommunication industrial sector.
Moreover from 2022, RCEP with 16 countries together account for a third of the world fross domestic product (GDP) and almost half the world’s population, with the combined GDPs of China and India alone making up more than half of that. RCEP's share of the world economy could account for half of the estimated $0.5 quadrillion global (GDP, PPP) by 2050.
RCEP aims to create an integrated market with 16 countries, making it easier for products and services of each of these countries to be available across this region. The RCEP tariff scheme will sure benefit the demand and surely the supply in this 50% of the world population region. Microhm Electronics limited is optimistic in expanding our production lines and capacity to meet with the upcoming demand. R&D investment is another core investment in building precision resistors with newly research materials and technology.
