Thin-Film Encapsulation (TFE) Market Projected to Reach $369.69 Million by 2032: A Comprehensive Analysis a CAGR of 15.60%

Report Overview

The global thin-film encapsulation (TFE) market size is expected to reach USD 369.69 million by 2032, according to a new study by Polaris Market Research. The report “Thin-Film Encapsulation (TFE) Market Share, Size, Trends, Industry Analysis Report, By Deposition Type (Inorganic Layer Deposition and Organic Layer Deposition); By Application; By Vertical; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Need for the thin-film based solar cells is constantly rising with the increasing adoption for clean fuel from off-grid areas, which is from the renewable energy as it don’t require any kind of pollution and growing adoption of polymer-based solar technologies, are prominent factors influencing the market growth. In addition, the rising penetration for technological innovations and rising investments towards the development of more improved and enhanced TFE products by key market players, will further offer significant growth opportunities to the market. For instance, in April 2022, Toray Industries, developed high barrier film which costs around 80% less than other conventional counterparts. Company is looking forward to commercialize this film, in 2023, specially for the high performance applications, which includes flexible devices & the solar cell encapsulation.

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Organic thin films are being accommodating the low-cost fabrication to exploit diverse molecules in in-expensive light emitting diodes, and plastic solar cells. Moreover, this TFE technology is highly effective in the prevention of water vapor & oxygen permeation into the several types of flexible devices, due to these, there has been an immense interest in developing transparent barrier materials with lower permeability, that positively contributing towards the market growth. The emerging TFE market is highly characterized by complex value chain that is also becoming a major challenge for market players. The outbreak of the COVID-19 pandemic has significantly impacted the growth of the Thin-Film Encapsulation (TFE) market.

Thin-Film Encapsulation (TFE) Market Report Highlights

• Inorganic layer deposition segment is expected to grow at a higher CAGR over the anticipated period, on account of widespread usage and beneficial characteristics of these layers
• Flexible OLED display segment accounted for major global market share in 2022, mainly due to increasing incorporation of these displays in various branded smartphones
• Consumer electronics segment held the largest market share in 2022, which is mainly driven by increase in the number of sales of smart wearables and smartphones worldwide
• Asia Pacific region dominated the global market in 2022 with healthy share owing to presence of large consumer base and availability of some of the world’s largest manufacturing plants in the region
• The global key market players include Samsung SDI, LG Chem, Toppan, Ergis Group, Veeco Instruments, Applied Materials, Universal Display, Toray Industries, Ajinomoto Fine-Techno, Borealis, Meyer Burger Technology, Aixtron, Bystronic Glass, AMS Technologies, Angstrom Engineering, Kateeva, and BASF.

Growth Drivers:

Rising Demand for Flexible Displays:

• As the demand for flexible and foldable displays in smartphones, wearable devices, and other electronic products increases, so does the need for effective encapsulation technologies like Thin Film Encapsulation. TFE enables the production of flexible displays by providing a barrier against moisture and oxygen, ensuring the longevity and reliability of these devices.

Advancements in Organic Light Emitting Diode (OLED) Technology:

• TFE plays a crucial role in the growth of OLED technology, particularly in the display industry. With continuous advancements in OLED displays, Thin Film Encapsulation becomes essential to protect OLED materials from degradation caused by exposure to external elements. The expanding OLED market contributes significantly to the growth of the Thin Film Encapsulation market.

Increased Adoption in Automotive Electronics:

• The automotive industry is incorporating more electronic components and displays for infotainment systems, instrument clusters, and advanced driver-assistance systems (ADAS). Thin Film Encapsulation helps protect these electronic components from harsh environmental conditions, enhancing the durability and performance of automotive electronics.

Segments:

Material Type:

• Thin Film Encapsulation materials can be segmented based on the type of materials used, such as organic materials, inorganic materials, or hybrid combinations. Different materials offer varying levels of barrier properties, flexibility, and cost-effectiveness, catering to diverse industry needs.

End-Use Industry:

• Segmentation based on end-use industries includes consumer electronics, automotive, healthcare, and others. Each industry has specific requirements for encapsulation, and Thin Film Encapsulation addresses these needs, contributing to the growth of various sectors.

Geographical Regions:

• The Thin Film Encapsulation market can be segmented based on geographical regions, considering the demand and adoption of TFE technology in different parts of the world. This segmentation allows for a targeted analysis of regional trends, challenges, and opportunities in the Thin Film Encapsulation market.

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Polaris Market Research has segmented the thin-film encapsulation (TFE) market report based on deposition type, application, vertical, and region:

Thin-Film Encapsulation (TFE), Deposition Type Outlook (Revenue - USD Million, 2018 - 2030)

• Inorganic Layer Deposition
• Organic Layer Deposition

Thin-Film Encapsulation (TFE), Application Outlook (Revenue - USD Million, 2018 - 2030)

• Flexible OLED Display
• Flexible OLED Lighting
• Thin-Film Photovoltaics
• Others

Thin-Film Encapsulation (TFE), Vertical Outlook (Revenue - USD Million, 2018 - 2030)

• Consumer Electronics
• Automotive
• Sports & Entertainment
• Transportation
• Retail, Hospitality, and BFSI
• Education
• Healthcare
• Aerospace
• Others

Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

 Europe

 Asia Pacific

 Latin America

 Middle East & Africa

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