Thin Film Encapsulation Market Report

Market Insights

The Thin Film Encapsulation Market estimated to grow from USD 22.1 million in 2020 to USD 67.7 million by 2026 at a healthy CAGR of 21.02% during the forecast period.

Figure: Thin Film Encapsulation Market Size, 2020-2026 (USD Million)

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What is Thin Film Encapsulation?

Thin film encapsulation can be defined as a form of technology used for organic light-emitting diodes. Based on type, it can be categorized as organic layers deposition and inorganic layers deposition.

Covid-19 Impact Analysis

The outbreak of COVID-19 significantly impacted the materials supply chains, international trade, and manufacturing operations across the world. The production of thin film encapsulation declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the coronavirus.

Key Players

Key players operating in the Thin Film Encapsulation Market are-

• Samsung SDI Co., Ltd. (South Korea)
• LG Chem Ltd. (South Korea)
• Universal Display Corporation (US)
• Applied Materials, Inc. (US)
• 3M (US)
• Veeco Instruments (US)
• Kateeva (US)
• Toray Industries, Inc. (Japan)
• BASF SE (Germany)
• Meyer Burger (Switzerland)
• Aixtron SE (Germany)
• Bystronic Glass (US)
• AMS Technologies AG (Germany)
• Angstrom Engineering (Canada)

Market Dynamics

The global growth of thin film encapsulation market size is primarily driven by widespread use of OLEDs in lighting and display applications. Increasing penetration of portable consumer electronics such as television and smartphones across the geographies is likely to drive the market growth at a significant rate during the review period. In addition to this, growing demand for OLED lights due to its superior performance is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segment’s Analysis

Application Trends

Based on application, the thin film encapsulation market has been divided into flexible OLED display, flexible OLED lighting, thin-film photovoltaic and others. The flexible OLED display application segment accounted for the largest market share in 2020. The segment growth can be attributed to increasing demand for consumer electronics worldwide.

Regional Trends

By region, the North America Thin Film Encapsulation market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The regional market growth can be attributed to the widespread product adoption rate and presence of established end-use industry in the region. The market growth in Asia-Pacific region is expected to grow at a fastest CAGR during the review on account of surging demand for OLED lights and increasing penetration of TVs and smartphones coupled with rising per capita disposable income of the consumers.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global thin film encapsulation market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the global Thin Film Encapsulation market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global Thin Film Encapsulation market?
• What are the key strategies adopted by the major vendors to lead in the global Thin Film Encapsulation market?
• What is the market share of the top vendors?

Target Audience

The target audience of Thin Film Encapsulation Market includes-

• Thin Film Encapsulation Vendors
• Thin Film Encapsulation Manufacturers
• Thin Film Encapsulation Distributors
• Organizations
• Government Bodies

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