Thin Film Encapsulation (TFE) Market Worth $223 Million By 2027

Thin Film Encapsulation (TFE) Market Worth 3 Million By 2027

CHICAGO, November 10, 2022 /PRNewswire/ — Thin Film Encapsulation (TFE) Market size is estimated to be $99 million in 2022 and is expected to reach $223 million by 2027, at a CAGR of 19.4% according to a new report from MarketsandMarkets™. The growth of the thin film encapsulation (TFE) market can be attributed to the increasing use of thin film barriers in organic and flexible electronic devices and the increased application of OLED displays in AR/VR headsets.

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Organic layer deposition will hold a larger share of the Thin Film Encapsulation (TFE) market during the forecast period.

The TFE market for organic layer deposition is expected to hold the largest share during the forecast period as it plays the key role of protecting OLED panels from moisture and oxygen content. It also allows flexibility in the structure by flattening the top layer, which improves the quality of the second inorganic layer. Kateeva is the manufacturer of inkjet printing equipment used for TFE. The company has innovated several products in inkjet printing technologies. For example, it launched YIELDjet FLEX, which can produce flexible OLED thin films based on its inkjet technology.

The Flexible OLED Display TFE Market for Smartphone Applications is expected to hold the largest share during the forecast period.

The Flexible OLED Display TFE Market for Smartphone Applications is expected to hold the largest share during the forecast period. OLED-based smartphones instantly gained popularity and are in high demand in high-end consumer markets. Samsung was the first company to launch a smartphone based on flexible AMOLED display technology and began mass-producing screens in 2014. The company has been using sheet metal, glass, TFE, and hybrid encapsulation materials in its display panels. Also, in 2020, Apple used OLED panels for the first time for the entire iPhone 12 series, which also continued in the iPhone 13 series and iPhone 14 series.

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The Thin Film Encapsulation (TFE) market for North America is expected to have the second largest size during the forecast period.

High demand for Apple’s OLED displays for its smartphone models has fueled the growth of the TFE market in the US. Demand for TFEs in OLED display panels for use in smart wearable devices is expected to increase during the forecast period due to the presence of leading AR/VR providers, such as Oculus VR, Microsoft and Google, in North America. According to IRENA, North America would have the second highest installed solar PV capacity, reaching 437 GW by 2030, with more than 90% of these installations in the United States. This is expected to boost the TFE market in North America.

key players in the Thin Film Encapsulation (TFE) Market are Samsung SDI Co., Ltd. (South Korea); LG chemical (South Korea); 3M (U.S); Toppan Inc. (Japan); Ergis Group (Poland); Veeco Instruments Inc. (USA); Universal Display Corporation (USA); Applied Materials, Inc. (USA); Kateeva (USA); Toray Industries, Inc. (Japan); tesa (Germany); Ajinomoto Fine-Techno Co., Inc. (Japan); Coat-X (Swiss); and Borealis AG (Austria).

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