The thin-film encapsulation (TFE) market is estimated to grow from USD 92 million in 2022 to reach USD 223 million by 2027; it is expected to grow at a CAGR of 19. 4% from 2022 to 2027.
New York, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thin-Film Encapsulation Market by Application, Deposition Type and Organic Layers, Vertical and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05377124/?utm_source=GNW
The growth of the thin-film encapsulation (TFE) market can be attributed to growing use of thin-film barriers in flexible and organic electronic devices and rising trend of TFE using inkjet printing technology.
The flexible OLED display thin-film encapsulation (TFE) market for automobile displays is expected to grow at the highest CAGR from 2022 to 2027
OLED displays are gradually emerging as the most preferred display technology among automobile companies such as General Motors, Audi, Toyota, Volkswagen, and Mercedes-Benz.With stabilized ASP and improvement in the reliability of OLED technology, the adoption of OLED displays in the automotive industry is likely to increase in the coming years.
In November 2021, Continental earned its first major order for OLED displays in a production vehicle from a global vehicle manufacturer, with a total order value of around USD 1 billion. The multi-display stretches from the driver’s area to the center console and integrates two screens, which are optically bonded behind a curved glass surface.
Thin-film encapsulation (TFE) market for consumer electronics vertical is expected to hold the largest share during the forecast period.
The consumer electronics segment is expected to continue to account for the largest size of the TFE market during the forecast period.The consumer electronics vertical includes products such as smartphones, television sets, smart wearables, PC monitors and laptops, and tablets—all of which have significant shares in the global TFE market.
The growth of OLED displays in the consumer vertical is expected to drive the TFE market growth.
The thin-film encapsulation (TFE) market in Europe is expected to grow at the second highest CAGR during forecast period.
Europe is an important region due to the presence of various developers and manufacturers of flexible OLED lighting panels, flexible solar cells, flexible batteries, and architectural materials across different European countries.The substantial growth of the automotive and manufacturing industries in the region is one of the key drivers for the growth of the TFE market in Europe.
The rising demand for OLEDs by the automotive and advertising markets will contribute significantly to the growth of the TFE market in the region.
Breakdown of the profile of primary participants:
• By Company Type: Tier 1 – 30%, Tier 2 – 50%, and Tier 3 – 20%
• By Designation: C-level Executives – 30%, Directors – 45%, Others - 25%
• By Region: North America – 20%, Europe – 30%, Asia Pacific – 45%, and RoW – 5%
Key players in the thin-film encapsulation (TFE) market are Samsung SDI Co., Ltd. (South Korea); LG Chem (South Korea); 3M (US); Toppan Inc. (Japan); Ergis Group (Poland); Veeco Instruments Inc. (US); Universal Display Corporation (US); Applied Materials, Inc. (US); Kateeva (US); Toray Industries, Inc. (Japan); tesa (Germany); Ajinomoto Fine-Techno Co., Inc. (Japan); Coat-X (Switzerland); and Borealis AG (Austria).
Based on deposition type, the TFE market has been segmented into inorganic layer deposition and organic layer deposition.Based on application, the TFE market has been segmented into flexible OLED display, flexible OLED lighting, thin-film photovoltaics, and others.
Based on vertical, the TFE market has been segmented into consumer electronics, automotive, sports and entertainment, transportation, retail, hospitality, and BFSI, industrial and enterprise, education, healthcare, aerospace and defense, and others. Based on region, the TFE market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).
Reasons to Buy Report
The report would help market leaders/new entrants in the following ways:
1. This report segments the TFE market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across deposition types, applications, verticals, and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape provides market share analysis and company evaluation quadrant for the key players operating in the TFE market.
Read the full report: https://www.reportlinker.com/p05377124/?utm_source=GNW
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