Thin Film Encapsulation Market: By Application (Printed Circuit Board, Sensors, and Microsystems), By End-User (Medical Device Manufacturers, Aerospace, Electrical Cars, and Others), By Technology (PECVD, ALD, Inkjet Printing, VTE, and Others), and Geography  

Thin Film Encapsulation Market size was valued at USD 218.8 million in 2022, It is growing at a significant CAGR of 18.7% from 2023-2029. Demand for microelectronics and consumer electronics products drives the market. The evolution of microelectronics technology, a wide range of applications for various products in the electronics industry, and applications to other sectors are expected to fuel the market. The major changes include a higher level of product integration, better product performance, reliability, and reduced costs expected to drive microelectronics demand. The encapsulation enables the expansion of the lifetime considerably. Good encapsulation relies on good-quality thin films. Widely used deposition methods are PECVD, atomic layer deposition (ALD), and parylene deposition. During the projection period, demand for semiconductor ICs is likely to be fueled by an increase in microelectronics and consumer electronics sales. The rising need for semiconductor integrated circuits is expected to boost semiconductor device manufacturers' production capacity, which could boost market demand. In 2022, the microsystems segment accounted for a larger revenue share and was projected to grow with a CAGR of 19.2% from 2023 to 2029 to reach USD 254.3 mn by 2029.

Thin Film Encapsulation Market Key Developments:

• In Mar 2019, Beneq has propelled new ALD coatings anti-erosion application as traditional metal oxide isn't thin enough to ensure against fluorine. The organization is putting forth a single layer or a multilayer or blended material explicitly for improving anti-corrosive properties.
• In December 2021, Beneq broadens its product portfolio further with launch of two new distinct solutions: the Transform® 300 and ProdigyTM.
• In April 2022, Applied Materials, Inc. introduced innovations that help customers continue 2D scaling with EUV and detailed the industry’s broadest portfolio of technologies for manufacturing next-generation 3D Gate-All-Around transistors.