The research report ” 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– Global/Region/Country Forecast to 2027″, Global Thin Film Encapsulation Market was valued US 155.3 Mn in 2019 and is anticipated record a CAGR of 20.6% over the forecast period 2021-2027.
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on ” 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– Global/Region/Country Forecast to 2027″,
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Increasing adoption of OLED displays in electronics accounts for huge market revenue share in global market
In 2020, the global thin film encapsulation market was worth US 187.7 million dollars, and it is expected to expand at a CAGR of 20.6% from 2021 to 2027. The thin film encapsulation is made of using organic and inorganic layers. It is based on a multi-layer film. It is used in different fields like OLED displays, thin film barriers, photovoltaic solar cells, flexible lighting products and other areas. Replacing the front glass in OLED device using thin-film barrier is possible through thin-film encapsulation. The thin film encapsulation industry is projected to record growth during the forecasted years owing to the several crucial factors such as growing need to prevent dust, moisture and oxygen from electronic devices, Increase in technological innovations and increase in thin film related investments There are a few other key factors that impel the market growth greatly such as increasing demand for flexible OLED displays in electronics, increase in technological advances, different benefits of thin-film encapsulation, and demand for thin film barrier in flexible devices. High price of flexible glass can restrain the market growth. A few factors that bring ample profitable opportunities to the market are increase in heavy investments in manufacturing facilities, thin solar cells, increasing production of OLED technology and great demand for thin solar cells.
Asia Pacific Accounts for huge Market Revenue Share in Global Market
In 2020, APAC accounted for largest revenue share in global thin Film encapsulation market which accounted for US$ (V) Mn and is anticipated to grow with a significant CAGR over the forecast years owing due to the existence of several manufacturers of brand and various display panels that are established in Japan, China, Hong Kong, South Korea and Taiwan. Also, the growth of the regional market can be associated with the progression of electronics and semiconductor industries, mainly in China. The global thin film encapsulation market recording a CAGR of 20.9% and is poised to grow over the forecast period 2021-2027 due to the huge number of leading players of thin film encapsulation operating in the region such as LG Display and Samsung. Furthermore, several leading industry layers operating in Asia Pacific are giving more focus on developing new technology in thin film encapsulation, which is anticipated to drive the market in the region during estimated period. The native electronics industry bases in countries like China, South Korea and Taiwan contribute greatly in enhancing the demand for thin film encapsulation technologies. Increasing industrialization and growing count of end-user industries in developing countries like India and China lead towards bringing different untapped opportunities for the market players.
Competition Assessment
Thin film encapsulation market is rather competitive. Presently, there are several major key players dominating the market and a few of them profiled in the report are Samsung SDI, LG Chem, Universal Display Corp. (UDC), Applied Materials, 3M, Veeco Instruments, Kateeva, Toray Industries, Meyer Burger, Aixtron, Bystronic Glass, AMS Technologies and Angstrom Engineering.
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