The Global Thin Film Solar Panels Market was valued at USD 732.20 Million in 2023 and is projected to reach USD 1207.83 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 8.70% during the forecast period. This robust expansion is primarily fueled by the global push for renewable energy, declining manufacturing costs, and the superior advantages of thin-film technology, such as lightweight, flexibility, and better performance in low-light conditions compared to traditional silicon panels.

As nations worldwide ramp up their decarbonization goals, the demand for efficient and versatile solar solutions is skyrocketing. In this blog, we profile the Top 10 Companies in the Thin Film Solar Panels Industry—a dynamic mix of technological pioneers, established manufacturers, and innovation leaders who are defining the future of solar energy generation.

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🔟 1. First Solar, Inc.

Headquarters: Tempe, Arizona, USA
Key Offering: Series 6 and Series 7 Cadmium Telluride (CdTe) thin-film modules

First Solar is the undisputed global leader in thin-film solar technology, specializing in advanced CdTe modules. The company operates one of the most vertically integrated solar manufacturing processes, from raw material to end-of-life recycling, ensuring high quality and sustainability. Its Series 7 module is designed for utility-scale projects, offering high efficiency and durability.

Technological Initiatives:

• Pioneering research in CdTe technology with consistent efficiency improvements

• Industry-leading module recycling program with a 90% material recovery rate

• Massive expansion of US manufacturing capacity to over 10 GW by 2025

Download FREE Sample Report: Global Thin Film Solar Panels Market – View in Detailed Research Report

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9️⃣ 2. Hanergy Thin Film Power Group

Headquarters: Beijing, China
Key Offering: CIGS (Copper Indium Gallium Selenide) and GaAs (Gallium Arsenide) flexible thin-film panels

Hanergy is a major force in the thin-film sector, focusing on flexible and lightweight solar solutions. The company holds world records for CIGS conversion efficiencies and produces panels for building-integrated photovoltaics (BIPV), automotive applications, and consumer electronics, pushing the boundaries of where solar power can be deployed.

Technological Initiatives:

• Development of solarmobile and solar-powered drones

• Large-scale investment in R&D for next-generation flexible panels

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8️⃣ 3. Solar Frontier K.K. (a subsidiary of Idemitsu Kosan Co., Ltd.)

Headquarters: Tokyo, Japan
Key Offering: CIS (Copper Indium Selenide) thin-film solar panels

Solar Frontier was a pioneer in CIS technology, known for its panels’ high performance in real-world conditions, including high temperatures and shaded environments. Although the company ceased panel production in 2023, its technological legacy and vast installed base continue to influence the market, with its parent company, Idemitsu Kosan, exploring next-generation materials.

Technological Legacy:

• Achieved world-record CIS module efficiency of 23.35%

• Strong focus on sustainability and low-carbon manufacturing processes

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7️⃣ 4. Sharp Corporation

Headquarters: Sakai, Japan
Key Offering: Amorphous silicon (a-Si) and CIGS thin-film panels

With a long history in electronics and solar technology, Sharp remains a significant player. The company produces thin-film panels that are highly durable and perform well in diverse climatic conditions. Sharp’s panels are widely used in residential, commercial, and industrial applications across the globe.

Technological Initiatives:

• Continuous improvement of a-Si and CIGS module efficiencies

• Integration of solar into smart home and building management systems

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6️⃣ 5. Kaneka Corporation

Headquarters: Tokyo, Japan
Key Offering: Hybrid amorphous silicon / microcrystalline silicon thin-film panels

Kaneka is renowned for its innovative hybrid thin-film technology, which combines amorphous and microcrystalline silicon layers to achieve higher efficiencies and improved stability. The company focuses on high-quality, durable panels suitable for harsh environments and long-term energy generation.

Technological Initiatives:

• Ongoing R&D to push the efficiency limits of silicon-based thin films

• Development of lightweight and flexible panel variants for specialized applications

Download FREE Sample Report: Global Thin Film Solar Panels Market – View in Detailed Research Report

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5️⃣ 6. AScent Solar Technologies, Inc.

Headquarters: Thornton, Colorado, USA
Key Offering: Ultra-lightweight, flexible CIGS thin-film modules

AScent Solar specializes in manufacturing flexible, monolithically integrated CIGS solar panels. Their products are designed for applications where weight, flexibility, and durability are critical, such as aerospace, defense, and portable power. The company’s technology is ideal for integration into consumer products and off-grid solutions.

Technological Initiatives:

• Focus on niche markets like electric vehicle integration and agrivoltaics

• Development of high-specific-power panels for mobile and transportation uses

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4️⃣ 7. Flisom AG

Headquarters: Zurich, Switzerland
Key Offering: Lightweight, flexible CIGS solar films

Flisom is a technology leader in developing extremely lightweight and flexible CIGS solar cells on polymer substrates. The company’s roll-to-roll manufacturing process enables low-cost production of solar films that can be seamlessly integrated into vehicles, buildings, and consumer gadgets, opening new markets for solar energy.

Technological Initiatives:

• Strategic partnerships with automotive and construction industries

• R&D focused on increasing flexibility and reducing the weight-to-power ratio

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3️⃣ 8. Midsummer AB

Headquarters: Järfälla, Sweden
Key Offering: BIPV (Building-Integrated Photovoltaics) CIGS solar metal roofs and panels

Midsummer is a leading supplier of flexible CIGS solar cell production equipment and unique BIPV solutions. The company’s proprietary technology allows for the creation of durable, aesthetically pleasing solar roofs that integrate directly into building structures, making solar power a fundamental part of architectural design.

Technological Initiatives:

• Deployment of solar roofs for commercial and residential buildings across Europe

• Development of localized, turnkey solar panel production units

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2️⃣ 9. Heliatek GmbH

Headquarters: Dresden, Germany
Key Offering: Organic Photovoltaic (OPV) films, a type of thin-film solar technology

Heliatek is a pioneer in Organic Photovoltaics (OPV), producing ultra-lightweight, flexible, and semi-transparent solar films. Their solution is perfect for integrating solar harvesting capabilities into building facades, windows, and other surfaces without compromising on design, offering a truly innovative approach to urban solar deployment.

Technological Initiatives:

• Focus on carbon-neutral production and sustainable material sourcing

• Partnerships for large-scale building facade installations

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1️⃣ 10. Beijing Yaoneng Technology Co., Ltd. (CNBM)

Headquarters: Beijing, China
Key Offering: CdTe thin-film solar modules

As part of the China National Building Material Group (CNBM), Yaoneng Technology is a significant manufacturer of CdTe thin-film modules. Leveraging the group’s massive industrial capacity, the company focuses on producing cost-effective and reliable panels for large-scale solar power plants and distributed generation projects, particularly in the Asian market.

Technological Initiatives:

• Scaling up production to meet domestic and international demand

• Integration of solar solutions into CNBM’s broader construction material offerings

Get Full Report Here: Global Thin Film Solar Panels Market – View in Detailed Research Report

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🌍 Outlook: The Future of Thin Film Solar Panels Is Flexible and Integrated

The thin-film solar panel market is evolving beyond traditional power plants into a realm of integrated, multifunctional surfaces. While CdTe currently dominates utility-scale applications, CIGS and emerging OPV technologies are unlocking new possibilities in architecture, transportation, and consumer products.

📈 Key Trends Shaping the Market:

• Accelerating adoption of BIPV for net-zero energy buildings

• Rising demand for lightweight, flexible panels in the electric vehicle and aerospace sectors

• Government incentives and green building codes favoring innovative solar integrations

• Continuous R&D driving efficiency gains and cost reductions for all thin-film technologies

Get Full Report Here: Global Thin Film Solar Panels Market – View in Detailed Research Report

The companies listed above are not only manufacturing solar panels—they are actively reshaping how and where we generate clean energy, turning everyday surfaces into power sources.