Thin-Film Encapsulation (TFE) Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032 is the recent addition to Polaris Market Research’s online repository, in which buyers will find the comprehension of business professionals’ opinions and insightful knowledge of business-related data, qualitative research, and concepts. The report provides a thorough overview of the most recent Thin-Film Encapsulation (TFE) Market trends and industry changes that are impacting market growth. This statistical research analyses and forecasts the global and regional markets.
According to the research report, the global thin-film encapsulation (TFE) market was valued at USD 91 million in 2022 and is expected to reach USD 369.69 million by 2032, to grow at a CAGR of 15.60% during the forecast period.
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Need for the thin-film based solar cells is constantly rising with the increasing adoption for clean fuel from off-grid areas, which is from the renewable energy as it don’t require any kind of pollution and growing adoption of polymer-based solar technologies, are prominent factors influencing the market growth. In addition, the rising penetration for technological innovations and rising investments towards the development of more improved and enhanced TFE products by key market players, will further offer significant growth opportunities to the market. For instance, in April 2022, Toray Industries, developed high barrier film which costs around 80% less than other conventional counterparts. Company is looking forward to commercialize this film, in 2023, specially for the high performance applications, which includes flexible devices & the solar cell encapsulation.
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Organic thin films are being accommodating the low-cost fabrication to exploit diverse molecules in in-expensive light emitting diodes, and plastic solar cells. Moreover, this TFE technology is highly effective in the prevention of water vapor & oxygen permeation into the several types of flexible devices, due to these, there has been an immense interest in developing transparent barrier materials with lower permeability, that positively contributing towards the market growth. The emerging TFE market is highly characterized by complex value chain that is also becoming a major challenge for market players. The outbreak of the COVID-19 pandemic has significantly impacted the growth of the Thin-Film Encapsulation (TFE) market.
Thin-Film Encapsulation (TFE) Market Report Highlights
- Inorganic layer deposition segment is expected to grow at a higher CAGR over the anticipated period, on account of widespread usage and beneficial characteristics of these layers
- Flexible OLED display segment accounted for major global market share in 2022, mainly due to increasing incorporation of these displays in various branded smartphones
- Consumer electronics segment held the largest market share in 2022, which is mainly driven by increase in the number of sales of smart wearables and smartphones worldwide
- Asia Pacific region dominated the global market in 2022 with healthy share owing to presence of large consumer base and availability of some of the world’s largest manufacturing plants in the region
- The global key market players include Samsung SDI, LG Chem, Toppan, Ergis Group, Veeco Instruments, Applied Materials, Universal Display, Toray Industries, Ajinomoto Fine-Techno, Borealis, Meyer Burger Technology, Aixtron, Bystronic Glass, AMS Technologies, Angstrom Engineering, Kateeva, and BASF.
Polaris Market Research has segmented the thin-film encapsulation (TFE) market report based on deposition type, application, vertical, and region:
Thin-Film Encapsulation (TFE), Deposition Type Outlook (Revenue – USD Million, 2018 – 2030)
- Inorganic Layer Deposition
- Organic Layer Deposition
Thin-Film Encapsulation (TFE), Application Outlook (Revenue – USD Million, 2018 – 2030)
- Flexible OLED Display
- Flexible OLED Lighting
- Thin-Film Photovoltaics
- Others
Thin-Film Encapsulation (TFE), Vertical Outlook (Revenue – USD Million, 2018 – 2030)
- Consumer Electronics
- Automotive
- Sports & Entertainment
- Transportation
- Retail, Hospitality, and BFSI
- Education
- Healthcare
- Aerospace
- Others
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The Report Addresses the Following Queries:
- How have the production techniques evolved in recent years?
- How can the emerging players in the market establish their foothold in the current market landscape?
- The market in which region is expected to witness the highest growth during the forecast period?
- What is the projected value of the market during the forecast period?
- How can the emerging players in the market solidify their position in the market?
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