Thin-Film Encapsulation (TFE) Market to Reach US$ 369.69 Million by 2032 with a CAGR of 15.60% Driven by Veeco Instruments Inc., Applied Materials Inc., Borealis AG

Market Definition:
Thin film encapsulation helps prevent the unwanted deterioration of active-matric organic light emitting diode (AMOLED) from water and fine particles. It helps providing longevity to OLEDS (Organic Light Emitting Diodes) by providing numerous layers of protection from the attack of moisture of oxygen. It is deposited on the OLED at a temperature below 100 C and provide additional flexibility to the OLED device.

The global thin-film encapsulation (TFE) market was valued at USD 91 million in 2022 and is expected to grow to USD 369.69 million by 2032, at a CAGR of 15.60% between 2023 and 2032.

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Top Companies:
The major global players focus on new product development and strategic initiatives to generate revenue and drive business growth. Some of the major players in the thin-film encapsulation (TFE) market are:
• Samsung SDI Co. Ltd.
• LG Chem
• Toppan Inc.
• Ergis Group
• Veeco Instruments Inc.
• Applied Materials Inc.
• Universal Display Corporation
• Toray Industries Inc.
• Ajinomoto Fine-Techno Co. Inc.
• Borealis AG
• Meyer Burger Technology Ltd.
• Aixtron SE
• Bystronic Glass
• AMS Technologies AG
• Angstrom Engineering Inc.
• Kateeva
• and BASF

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

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Growth Drivers:
• Rising adoption of flexible OLED displays for wide range of consumer devices including smart wearables and smartphones coupled with the surge in the prevalence for microelectronics and requirement of thin-film encapsulation in numerous organic as well as flexible devices are influencing the market growth.

• Thin-film solar cells have gained immerse popularity globally, as it is easy to handle and flexible as compared to traditional solar cells, that is contributing towards the thin-film encapsulation (TFE) market growth in a positive way.

Segmental Analysis:
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

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Regional Overview:
Asia Pacific dominated the global market occupying a major market share, and is projected to maintain its dominance during the forecast period. The region is the world's largest consumer and manufacturer of TFE equipment and materials and various large manufacturing plants related to TFE and flexible electronic device are based in countries like China, Japan, Taiwan, and South Korea.
• North America
o U.S.
o Canada

• Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Netherlands

• Asia Pacific
o China
o India
o Japan
o South Korea
o Indonesia
o Malaysia

• Latin America
o Argentina
o Brazil
o Mexico

• Middle East & Africa
o UAE
o Saudi Arabia
o Israel
o South Africa

Report Scope:
This report emphasizes overall sales volume, revenue, price, market share, and key companies to present a thorough overview of the market for thin film encapsulation. It also includes an analysis of thin film encapsulation by deposition, application, vertical and region.

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