I studied e-beam evaporated Co, TiO2 and Co/TiO2 thin film. In all cases transmittance of thin film decreases with increasing film thickness. What is the reason?
Transmitance is inversely proportional to absorbance. As described above by you, the film thickness increases, it means more light is absorbed in the thick film. That's why transmitance is decreased.
Another reason can be, surface roughness effect. With increasing surface roughness, the absorption is increased (or transmittance decreased) so, go for AFM analysis of your thin films and check if this is the case.