Global Thin Film Chip Resistor Market to Observe Widespread Growth with Rising Demand for Miniaturization in Electronic Devices

Over the past ten years, thin film resistors, once regarded as high-end and expensive, are now often produced by a variety of electronics manufacturers, and are frequently found in stock. Thin film resistors' electrical performance has significantly improved as compared to thick film chips, especially in terms of tolerance and TCR. Several advancements in thin film resistors are swiftly catching up to the performance of components like bulk metal foil technology. In the recent years, these resistors have become extremely powerful and affordable.

Thin film chip resistors are resistors consisting of a thin layer of material. They are frequently utilized in electrical equipment to regulate the flow of power. Thin film chip resistors can be highly useful in electronics since they can aid in ensuring that the gadget functions correctly and does not overheat. Thin-film resistors are the most popular type of resistor that is currently available. Thin-film resistors are a particular kind of resistor with a thin resistive layer placed on top of a ceramic substrate. The global thin film chip resistor market is expanding at a rapid pace due to the increasing needs of the automobile industry and the development of Internet of Things (IoT) devices.

Newest Insights in the Thin Film Chip Resistor Market

The increasing popularity of wearable gadgets, as well as the growing utilization of 4G and 5G networks have boosted the demand for thin film chip resistors. As per a report by Research Dive, the global thin film chip resistor market is expected to surpass a revenue of $1,046.4 million in the 2022-2031 timeframe. The North America thin film chip resistor market is expected to perceive foremost and dominant growth in the years to come. This is because the region has a gigantic demand for thin film chip resistors owing to the rising consumer demand for digital devices such as tablets and smartphones in the region.

How are Market Players Responding to the Rising Demand for Thin Film Chip Resistor?

Market players are greatly investing in pioneering research and inventions to cater for the growing demand for thin film chip resistors from the medical sector. Some of the foremost players in the thin film chip resistor market are Ever Ohms Technology Co., Ltd., Elektronische Bauelemente GmbH (EBG), Panasonic, Ralec Electronics Corp., KOA, Samsung Electro-Mechanics, Rohm Co., Ltd., Tateyama Kagaku Industry Co., Ltd., Ta-I Technology Co., Ltd., Uniohm, and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a notable position in the global market. For instance:

• In May 2022, Vishay Intertechnology, a leading producer of passive electronic parts and semiconductors, launched a brand-new high-precision thin-film wrap-around chip resistor for use in medical, industrial, aerospace, and military applications.
   
• In September 2022, TT Electronics, a global producer of electronic components and supplier of manufacturing services, launched its TFHP range of thin film, high-power chip resistors that take advantage of an aluminium nitride (AlN) ceramic substrate with approximately six times the conductivity of alumina to combine high power and high accuracy in a single resistor.
   
• In October 2022, Yageo, leading provider of passive components, launched moisture and sulfur resistant, thin film high precision chip resistors.

COVID-19 Impact on the Global Thin Film Chip Resistor Market

The unpredicted rise of the coronavirus pandemic in 2020 adversely impacted the global thin film chip resistor market. During the pandemic period, the fall in the growth of important industries utilizing chip resistors, such as industrial electronic equipment and automobiles hampered the market growth. The manufacturing of chip resistors suddenly closed due to lockdown measures taken in several nations, and many production facilities got totally or partially shut down. The demand for thin film resistors from end-use industries such as industrial, consumer electronics, automotive & transportation, and others significantly reduced due to disruptions in everyday operations. Additionally, the production of chip resistors massively hampered due to the ban of exports and shortage of raw materials. However, the thin film chip resistor market is likely to regain momentum in the post-pandemic period due to growing demand from various industrial sectors.