Thick Film Resistor Market Forecasts to 2030 - Global Analysis By Resistor Type, Vehicle Type, End User and By Geography

According to Stratistics MRC, the Global Thick Film Resistor Market is accounted for $667.6 million in 2024 and is expected to reach $1,024.6 million by 2030 growing at a CAGR of 7.4% during the forecast period. A thick film resistor is a type of passive electronic component used to resist the flow of electrical current, typically in printed circuit boards (PCBs). It is constructed by depositing a resistive paste, often made of a mixture of metal oxides, onto a ceramic substrate. The paste is fired at high temperatures to form a thick, durable layer of resistive material. The resistive element is then trimmed or laser-cut to the desired resistance value. Thick film resistors are popular due to their cost-effectiveness, reliability, and ability to handle high-power applications.

According to World Economic Forum, more than 12 million fully autonomous cars are expected to be sold annually by 2035, covering 25% of the global automotive market.

Market Dynamics:

Driver:

Rising demand for high-precision and high-stability components

The growing demand for high-precision and high-stability components in modern electronics is substantially boosting the development of Thick Film Resistors. These resistors, known for their robustness and versatility, are essential in applications where consistent performance and reliability are critical, such as in automotive, telecommunications, industrial automation, and medical devices. As technology advances, there is a shift towards smaller, more compact systems that require resistors with minimal tolerance variations and stable electrical characteristics over a wide range of temperatures. This has led to innovations in the materials and manufacturing processes used in TFRs, improving their accuracy and stability.

Restraint:

Price sensitivity

Price sensitivity is a significant challenge for the thick film resistor market, as it impacts both manufacturers and consumers. Thick film resistors, commonly used in a wide range of electronic devices, are valued for their cost-effectiveness compared to other types of resistors like thin-film or wire-wound. However, the growing demand for high-precision components in industries such as automotive, telecommunications, and consumer electronics has created a pressure to improve performance while maintaining affordability. As a result, price-sensitive customers often prioritize low-cost options over higher-quality or more durable alternatives, forcing manufacturers to balance the cost of raw materials, production processes, and quality control with the pressure to remain competitive in a crowded market.

Opportunity:

Surge in renewable energy systems

As renewable energy sources like solar and wind gain traction, there is an increasing demand for more efficient power conversion and distribution systems, which require highly reliable and durable components. Thick film resistors, known for their stability, high precision, and ability to withstand extreme environmental conditions, play a crucial role in these applications. They are used in power electronics for voltage regulation, current sensing, and signal processing. The rise of renewable energy has led to the development of thick film resistors with improved performance characteristics, such as enhanced thermal stability, resistance to corrosion, and better power handling capabilities.

Threat:

Manufacturing complexity

Manufacturing complexity in thick film resistors arises from the intricate process of applying resistive materials to ceramic substrates. The process begins with the deposition of a paste composed of metal oxides and other materials onto a ceramic base, followed by firing at high temperatures to achieve the desired resistance. However, controlling the uniformity of this paste application is challenging, as inconsistencies in the thickness, composition, and firing process can lead to variations in resistance, reliability, and performance. Precise tuning of the resistor's value requires exact control over the mix and curing conditions, complicating mass production. Variations in temperature and environmental conditions during production can also introduce defects.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the thick film resistor market, primarily due to disruptions in global supply chains, factory shutdowns, and reduced manufacturing capacity. The pandemic led to a shortage of key raw materials, such as precious metals used in resistors, and hindered the production of components essential for thick film resistor manufacturing. Logistical challenges, including delays in shipping and transportation restrictions, further exacerbated the supply-demand imbalance. As industries worldwide shifted focus toward essential products and services during the crisis, the demand for electronic components, including resistors, fluctuated.

The Shunt Resistor segment is expected to be the largest during the forecast period

Shunt Resistor segment is expected to dominate the largest share over the estimated period. A shunt resistor is a low-value, highly precise resistor used to measure current by creating a small, measurable voltage drop in a circuit. When combined with thick-film resistors, it enhances their performance in specific applications, especially where high accuracy and durability are required. Thick-film resistors, made by applying a resistive paste to a ceramic substrate and firing it, offer the advantages of high stability, low cost and versatility. When used in conjunction with a shunt resistor, they provide a more accurate means of current sensing. The shunt resistor allows for direct current measurement without significant interference to the circuit, while the thick-film technology ensures the resistor's robustness and resistance to environmental factors like temperature and humidity.

The Automotive segment is expected to have the highest CAGR during the forecast period

Automotive segment is estimated to grow at a rapid pace during the forecast period, to meet the growing demand for high-performance and reliable automotive systems. Thick film resistors, which are used to regulate current and voltage in electronic circuits, are undergoing significant enhancements to meet the stringent requirements of modern vehicles. These improvements focus on increasing their thermal stability, resistance to environmental stress (such as temperature fluctuations, humidity, and vibrations), and overall durability under harsh automotive conditions. Additionally, advancements in the materials and manufacturing processes for thick film resistors allow for higher precision, smaller sizes, and better integration with other components in complex automotive electronic systems. This is especially important in applications like powertrain control, advanced driver-assistance systems (ADAS), and infotainment, where precision and reliability are critical.

Region with largest share:

Asia Pacific region is poised to hold the largest share of the market throughout the extrapolated period, which are essential components in electronic devices used in these networks. As 4G and 5G technologies require faster data transmission, higher processing speeds, and more robust network infrastructure, the need for reliable and efficient electronic components, such as resistors, becomes more critical. Thick film resistors, known for their stability, accuracy, and durability, are used in various network infrastructure equipment, including base stations, routers, and antennas, to ensure optimal performance.

Region with highest CAGR:

North America region is estimated to witness the highest CAGR during the projected time frame. Thick film resistors are used in various parts of EV systems, including motor drives, battery management systems, and power inverters, where they help regulate current and manage heat dissipation. As the EV market grows, the need for more advanced, efficient, and reliable electronic components rises. The North American electric vehicle market, driven by government incentives, environmental concerns, and advancements in EV technology, has become a major consumer of these resistors. Manufacturers of thick film resistors are adapting their products to meet the specific demands of the EV sector, focusing on durability, precision and miniaturization.

Key players in the market

Some of the key players in Thick Film Resistor market include API Technologies Corp, Caddock Electronics, Inc, Futaba Corporation, Kemet Corporation, KOA Corporation, Mitsubishi Materials Corporation, Murata Manufacturing Co., Ltd, Nippon Chemi-Con Corporation, Ohmite Manufacturing Company, Panasonic Corporation, Samsung Electro-Mechanics and Walsin Technology Corporation.

Key Developments:

In May 2024, Vishay Intertechnology, Inc. announced the launch of an updated version of its Vishay Draloric RCS0805 e3 anti-surge thick film resistor, which now has a robust 0.5 W power rating. This upgrade allows the RCS0805 e3 to replace four standard parallel resistors in the 0805 case size, two in the larger 1206 case, and a single resistor in the 1210 case.

In March 2024, FOJAN Electronics, a supplier of LCSC Electronics announced the launch of the FRL Series Thick Film Resistors. These FRL series resistors are small, lightweight, and extremely reliable. They excel at managing high currents because of their low resistance.

In March 2023, Vishay Intertechnology, Inc. announced that it had increased the power rating of the Vishay DraloricRCS0805 e3 anti-surge thick film resistor in the 0805-case size to 0.5 W. The RCS0805 e3's enhanced power rating allows it to replace four standard parallel resistors in the 0805 case size, two similar devices in the larger 1206 case size, or one resistor in the 1210 case size.

In February 2023, Bourns, Inc., an electronic component manufacturer and supplier, announced the launch of four new AEC-Q200-compliant product series to its high-power thick film resistor lineup in. It is claimed that the new automotive-grade Model CRM-Q, CRS-Q, CMP-Q, and CHP-Q Series have high power ratings and outstanding pulse load surge capability.

Resistor Types Covered:

• Shunt Resistor
• Thick Film Power Resistor
• Chip Resistor
• Other Resistor Types

Vehicle Types Covered:

• Commercial Vehicle
• Passenger Car

End Users Covered:

• Telecommunication
• Automotive
• Electrical & Electronics
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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