The thin-film encapsulation (TFE) market is estimated to grow from USD 92 million in 2022 to reach USD 223 million by 2027; it is expected to grow at a CAGR of 19.4% from 2022 to 2027. The growth of the thin-film encapsulation (TFE) market can be attributed to growing use of thin-film barriers in flexible and organic electronic devices and the integration of flexible OLED displays into smartphones and smart wearables. Key players in the TFE market are Samsung SDI Co., Ltd. (South Korea); LG Chem (South Korea); 3M (US); Toppan Inc. (Japan); Ergis Group (Poland); Veeco Instruments Inc. (US); Universal Display Corporation (US); Applied Materials, Inc. (US); Kateeva (US); Toray Industries, Inc. (Japan); tesa (Germany); Ajinomoto Fine-Techno Co., Inc. (Japan); Coat-X (Switzerland); Borealis AG (Austria); BASF (Germany); AMS Technologies (Germany); Angstrom Engineering, Inc. (Canada); Beneq (Finland); Encapsulix (France); and Lotus Applied Technology (US). Most of the leading companies have adopted product launches and partnerships as key strategies to boost their revenues in the TFE market.
Top Market Players:
Samsung SDI Co., Ltd. engages in the manufacture and sale of secondary cells and plasma display panels. It operates through two business segments: Electronics Materials and Energy Solutions. The company offers TFE solutions through its Electronics Materials segment. It has a strong demand from Samsung Display, a world leader in flexible displays. It has an innovative product portfolio with a strong focus on R&D. The company conducts collaborations with industry leading suppliers of TFE technologies and equipment. To grow in the TFE market, it has created a strong customer base through Samsung displays. The company mainly focuses on R&D to create innovative products.
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LG Chem Ltd. manufactures petrochemicals, IT & electronic materials, and energy solution materials. The company offers materials mainly for LCD and OLED display panels. It offers TFE solutions through its Advanced Materials segment. LG Chem is one of the leading suppliers of OLED materials to various customers, including its own sister company—LG Display. The company has a wide geographic presence with major operations in Asia Pacific. It has built a global network for manufacturing, sales, and R&D in South Korea, China, Taiwan, India, Poland, Vietnam, and the US. To grow in the TFE market, the company has mainly adopted the strategy of product launches.
3M is a technology company, which manufactures industrial, safety, and consumer products. It conducts business operations in over 70 countries and sales in almost all countries. The companys R&D activities generate a steady stream of inventions that are covered by new patents. To grow in the TFE market, the company has mainly adopted the strategy of agreements globally. Furthermore, the company strategizes in offering highly efficient and variety of products to keep its strong foothold in the market. For instance, 3M offers different thin encapsulation films such as 3M Tape, 3M Double Coated Dielectric Tape, 3M™ Aesthetic Solar Tape 8006C, 8006B, 8006W, and 3M™ Dielectric Tape 1506S. All these tapes are used for encapsulation of thin solar cells.
Thin-Film Encapsulation (TFE) Market by Application (OLED Display, OLED Lighting, and Thin-Film Photovoltaic), Deposition Type (Inorganic Layers (PECVD, ALD) and Organic Layers (Inkjet Printing and VTE), Vertical and Region - Global Forecast to 2027
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