Thin Film Encapsulation Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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

 

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Report

Description

The global thin film encapsulation market valued US 155.3 Mn in 2020 and is poised to grow with a CAGR of 20.7% over 2021-2027. Some of the key factors fostering the market growth include benefits of thin-film encapsulation, increase in acceptance of flexible OLED displays for smart wearables and smartphones, necessitate for thin-film barrier in organic and flexible devices and increase in technological advancements. However, development of flexible glass and requirement for technical knowhow and protection of intellectual properties are hindering the market growth. Further, huge funds in OLED technology & manufacturing facilities, demand for high-efficiency and thin solar cells provides huge growth opportunity for the market growth. This report gives comprehensive outlook on thin film encapsulation across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. This market gives historical, current, and future market sizes (US$ Mn) on the basis of application, end-user, technology and region. Moreover, PBI analyzed global thin film encapsulation market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). This market is surging owing to expansion of their production facilities for thin film encapsulation to meet the demands of the customers in the market. For instance, In Mar 2020, LG Chem acquired New Facility for more battery production in Poland. Currently, LG Chem has five battery plants in South Korea, China, the United States and Poland, with a combined capacity of 70 gigawatt-hours. In August 2016, Universal Display Corp., made an agreement with Tianma Micro-electronics Co. Ltd. Universal Display granted Tianma non-exclusive license rights for various patents owned or controlled by the company to manufacture and sell OLED displays. Additionally, Universal Display will supply phosphorescent OLED materials to Tianma to use them in its licensed products.

Thin Film Encapsulation Market

MARKET SUMMARY
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20.7% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 20.7%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– Asia Pacific

Thin Film Encapsulation Market

  • The report on global Thin Film Encapsulation Market gives historical, current, and future market sizes (US$ Mn) on the basis of End-user Type, technology, application and geography.
  • Thin Film Encapsulation Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Market Key Players
  • Samsung SDI
  • LG Chem
  • Universal Display Corp. (UDC)
  • Applied Materials
  • 3M
  • Veeco Instruments
Drivers And Restraints

Thin Film Encapsulation Market

To develop an OLED lighting solution for automobiles, the majority of automobile companies collaborated with lighting manufacturers. The thin-film encapsulation industry is also expected to grow due to the widespread usage of OLED displays in consumer devices. Thin-film encapsulation employing inkjet printing is projected to boost the growth of the worldwide thin-film encapsulation market.


Asia Pacific got significant share

Thin Film Encapsulation Market

Asia Pacific accounted for larger revenue share in global thin film encapsulation market with a CAGR of 20.9% and is expected to grow over the forecast years owing to existence of industry leaders, such as Samsung and LG Display in the country. The growth of the regional market can be associated with the progression of electronics and semiconductor industries, mainly in China. The innate electronics manufacturing bases in South Korea, China, and Taiwan led to an enhanced demand for thin film encapsulation technologies. The increase in industrialization and an addition in the number of end-user industries in developing economies, such as China and India, have offered various untapped opportunities.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Findings of the Report

  • Global thin film encapsulation market expanding at significant CAGR over 2021 to 2027 owing to increase in acceptance of flexible OLED displays for smartphones and smart wearables
  • Based on region, Asia Pacific accounted for larger market revenue share in 2020 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in global market

Key

Key Features of the Report

Segmentation

Thin Film Encapsulation Market


Location

GEOGRAPHY


Report

Company Profile

  • Samsung SDI
  • LG Chem
  • Universal Display Corp. (UDC)
  • Applied Materials
  • 3M
  • Veeco Instruments
  • Kateeva
  • Toray Industries
  • Meyer Burger
  • Aixtron
  • Bystronic Glass
  • AMS Technologies
  • Angstrom Engineering

Description

The global thin film encapsulation market valued US 155.3 Mn in 2020 and is poised to grow with a CAGR of 20.7% over 2021-2027. Some of the key factors fostering the market growth include benefits of thin-film encapsulation, increase in acceptance of flexible OLED displays for smart wearables and smartphones, necessitate for thin-film barrier in organic and flexible devices and increase in technological advancements. However, development of flexible glass and requirement for technical knowhow and protection of intellectual properties are hindering the market growth. Further, huge funds in OLED technology & manufacturing facilities, demand for high-efficiency and thin solar cells provides huge growth opportunity for the market growth. This report gives comprehensive outlook on thin film encapsulation across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. This market gives historical, current, and future market sizes (US$ Mn) on the basis of application, end-user, technology and region. Moreover, PBI analyzed global thin film encapsulation market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). This market is surging owing to expansion of their production facilities for thin film encapsulation to meet the demands of the customers in the market. For instance, In Mar 2020, LG Chem acquired New Facility for more battery production in Poland. Currently, LG Chem has five battery plants in South Korea, China, the United States and Poland, with a combined capacity of 70 gigawatt-hours. In August 2016, Universal Display Corp., made an agreement with Tianma Micro-electronics Co. Ltd. Universal Display granted Tianma non-exclusive license rights for various patents owned or controlled by the company to manufacture and sell OLED displays. Additionally, Universal Display will supply phosphorescent OLED materials to Tianma to use them in its licensed products.

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