The global market value of thick film devices was estimated at US$26.7 bln in 2009, but is expected to increase to nearly US$50 bln in 2014, for a 5-year compound annual growth rate (CAGR) of 13.2%, as per BCC Research. Thick film device has four major applications- energy device, electronic device, mechanical/chemical device, display device. The largest segment of the market, energy devices, is projected to grow at a CAGR of 16.5% to reach more than US$31 bln in 2014 from an estimated US$14.5 bln in 2009. Electronic devices, which in 2007 was the largest segment, is estimated at US$10.3 bln in 2009, and is expected to increase at a 5 year CAGR of 7.5% to over US$14.8 bln in 2014. The display devices segment is projected to have a 5 year CAGR of 18.5%, rising from US$1.2 bln in 2009 to nearly US$2.8 bln in 2014. The smallest segment of the market, mechanical/chemical devices, is estimated to be worth US$680 mln in 2009, and is expected to grow to US$985 mln in 2014, for a CAGR of 7.7%. In the last 100 years, thick film technology has been adopted in the fabrication process of various types of advanced devices. In particular, during the last 50 years, thick film processes have played a very important role in the miniaturization of electronic components and systems. In fact, compared to other film production processes, thick film technology allows the deposition of relatively thin coatings and layers (8-25 microns) at low cost, with equipment that is easy to maintain and operate, and with processes that can be adapted for mass production. Thick film technology is used to produce electronic devices such as surface mount devices, hybrid integrated circuits and sensors. The manufacture of such devices typically entails the deposition of several successive layers onto an electrically insulating substrate using a screen-printing process. Thick film technology allows the deposition of relatively thin coatings and layers (8 microns to 25 microns) at low cost, with equipment that is easy to maintain and operate, and with processes that can be adapted for mass production.