Global Thin-Film Encapsulation (TFE) Market Size Projected to Cross USD 369.69 Million By 2032, at a CAGR of 15.60%: Polaris Market Research

NEW YORK, June 14, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "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" published by Polaris Market Research in its research repository.

"According to research report, the global thin-film encapsulation (TFE) market size/share was valued at USD 91 Million in 2022 and is expected to touch USD 369.69 Million By 2032, growing at a CAGR of 15.60% during the forecast period."

What is Thin-Film Encapsulation (TFE)? How Big is Thin-Film Encapsulation (TFE) Market Size?

• Overview

With the escalation of wearable gadgets, flexible active-matrix OLEDs have been witnessed as the seed exhibition technology. To sanction the safeguarding of flexible devices, traditional encapsulation techniques are not acceptable because of their innate inflexibility and hence is being contemplated as the most encouraging technology. The rapidly rising demand for the thin-film encapsulation (TFE) market can be attributed to the fact that the system's distinctive vision continuity technology sanctions correct and accurate mask positioning and deposition, permitting display manufacturers to discard photolithography engrave procedure messages and reduce production prices.

Thin-film encapsulation is extensively utilized in the consumer electronics industry for malleable OLED displays for smart wearables and smartphones and to encounter the requirement for thin-film impediments in flexible and organic gadgets. Additionally, governments from several nations in the Asia Pacific are reinforcing makers to structure facilities to make flexible OLED panels.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• 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
• BASF

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Market Drivers

• Evolution of capital funding in OLED technology: Thin-film encapsulation (TFE) market size is expanding due to the advancement in need for thin-film blockade in several flexible gadgets, the development in the acceptance rate of flexible OLED displays for smart devices, and the evolution in the capital funding in OLED technology.
• Lighter and thinner display: TFE has the resilience to restore the forefront glass layer with a thin film barrier prevalent in an OLED device. OLED substance is extremely open to debasement when revealed to varied environmental elements such as water and air. Thin-film encapsulation (TFE) market sales are soaring as it being triumphant and engaging in sanctioning flexible OLED and reducing the price by putting back glass as an essential material resulting in a lighter and thinner display.
• Rise in microelectronics: Growing acceptance of flexible OLED displays for a broad gamut of computer assets involving smart wearables and smartphones, together with the rise in the existence of microelectronics and the need for TFE in several organic as well as flexible gadgets, are pushing the market growth.
• Approval of thin-film solar cells: Thin-film solar cells have acquired enormous approval globally as it is easy to manage and flexible as juxtaposed to conventional solar cells that is subscribing towards the market growth in a positive way.

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Top Trends Influencing the Market

• Rise in demand for renewable sources: With the rise in the demand for renewable sources of energy and decreasing costs of solar panels worldwide, thin-film encapsulation is being broadly utilized in photovoltaic cells to safeguard them from the environment and improvising their productivity will lead to the market growth in near future.
• Escalation in industrialization: The speedy escalation in industrialization and incorporation in the aggregate of end-user industries, particularly in surfacing economies such as India, Taiwan, China, and Indonesia, together with escalating solar panel manufacturing and fittings in these countries, have charted the path for this market.
• Growth in semiconductors: The growing existence of electronic elements and display panels from the automotive industry, which will seemingly push the demand for semiconductors and display units, will directly impact the market.

Segmental Analysis

• The inorganic layer deposition segment is anticipated to grow at a higher CAGR

Based on deposition type, the inorganic layer deposition segment is anticipated to grow at a higher CAGR in the course of the anticipated period, which is extensively credited to the capacity to offer blockade capabilities against oxygen and moisture. The thin-film encapsulation (TFE) market demand is on the rise as prominent firms functioning in the market is initiating equipment dependent on the PECVD technology involving applied materials, Meyer Burger, and Aixtron.

• The flexible OLED display segment accounted for the largest market share

Based on application, the flexible OLED display segment accounted for the largest market share. Thin-film encapsulation (TFE) market trends include rapid escalation in acceptance of these OLED displays in varied branded smartphones, including iPhone 12, 13, and 14 series, amidst several others. Additionally, the growing existence of flexible OLED displays in AR/VR headsets and Oculus Quest 2 worldwide and particularly in high-income countries such as the US and Canada, is expected to generate huge demand for the market.

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Thin-Film Encapsulation (TFE) Market: Report Scope

Geographic Overview

Asia Pacific: This region held the largest thin-film encapsulation (TFE) market share due to it being the world's biggest consumer and manufacturer of TFE instruments and substances, and several big manufacturing plants connected to TFE and flexible electronic gadgets are established in countries such as China, Japan, Taiwan, and South Korea.

Europe: This region will observe a notable growth rate during the forecast period due to the strong existence of a massive figure of manufacturers of OLED lighting panels, solar cells, batteries, and architectural substances.

Browse the Detail 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" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/thin-film-encapsulation-tfe-market    

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Recent Developments

• In December 2021, Beneq announced the expansion and broadening of its product portfolio with two new distinct solutions, including Transform 300 & Prodigy. The Transform 300 is mainly designed to meet the rising need for semiconductor applications at 300 mm for the devices like CMOS image sensors, power devices, micro-OLED, & advanced packaging, which requires a high degree of versatility.
• In August 2021, Ergis introduced a new OLED encapsulation film platform named Ergis noDiffusion. The company is highly focused on testing its film solutions at customer sites in Asia, the EU, and the US and is further expanding the platform for the protection of quantum dot films utilized in several lighting applications and displays.

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

By Deposition Type Outlook

• Inorganic Layer Deposition
• Organic Layer Deposition

By Application Outlook

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

By Vertical Outlook

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

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research