Thin Film Encapsulation Market Opportunities, Business Forecast To 2028
The global thin film encapsulation market size was valued at USD 218.8 million in 2021 and is poised to grow at a significant CAGR of 18.7% during the forecast period 2022-28. TFE (thin-film encapsulation) is a new method for organic light-emitting diodes (OLEDs) (OLED). TFE has the ability to rebuild the front glass layer in an OLED display with a thin-film barrier. When subjected to multiple external conditions such as water and air, OLED material is highly vulnerable to degradation. This technology is difficult to implement since the barrier film must have low water and oxygen permeability, be deposited at a low temperature, and endure the entire lifespan of the OLED device. The Thin-Film Encapsulation (TFE) Market has benefited from increasing technological advancements as well as increased investment. The COVID-19 outbreak had a substantial influence on global materials supply chains, international trade, as well as manufacturing activities. During the COVID-19 pandemic, thin film encapsulation output fell as market players were forced to shut down manufacturing facilities or operate them at lower-than-optimal capacity in order to prevent the coronavirus from spreading.
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Thin film encapsulation is widely utilised in the consumer electronics sector for flexible OLED displays in smart wearables and smartphones, as well as in flexible and organic devices that require thin-film barriers. The significant investment in developing OLED business facilities as well as roll-to-roll production of OLED lighting has raised market for high, thin-film solar cells, which is projected to offer profitable prospects for thin-film encapsulation technology as well as material providers. Furthermore, governments around Asia Pacific are assisting manufacturers in the construction of flexible OLED panel manufacturing facilities. Japan Display (JDI & JOLED) and Sharp are two of TFE's biggest customers in Japan. These firms have historically specialised in LCD displays, but they have now decided to invest in the rapidly expanding OLED display panel sector.
The global thin film encapsulation market segmentation:
1) By Application: Printed Circuit Board, Sensors, and Microsystems.
2) By End-User: Medical Device Manufacturers, Aerospace, Electrical Cars, and Others.
3) By Technology: PECVD, ALD, Inkjet Printing, VTE, and Others.
North America, Europe, Asia Pacific, Middle East & Africa, and South America are the regions in which the worldwide thin film encapsulation market is segmented. Because of the huge number of thin film encapsulation manufacturers operating in Asia Pacific, the region is expected to dominate the worldwide thin film encapsulation market over the forecast period. Furthermore, many well-established manufacturers in Asia Pacific are concentrating on the development of innovative thin film encapsulation technologies, which is projected to increase the market in the area throughout the forecast period.
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There are several industry players working in the Thin Film Encapsulation Market, which include Samsung SDI, LG Chem, Universal Display Corp. (UDC), Applied Materials, 3M, Veeco Instruments, Kateeva, Toray Industries, Meyer Burger, Aixtron
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