Thin Film Encapsulation is a technology used in organic light-emitting diode (OLED) devices such as TVs, monitors, laptops, lamps, and cameras for protecting the displays from the external environment such as moisture, air, and water. It is a multi-layer film, made up of organic and inorganic layers. These layers are highly rigid and brittle in nature and act as good barriers.
Thin film encapsulation has very complex design, where each component is physically, chemically, and mechanically optimized to ensure durability. Technologies that makes thin film encapsulation flexible, lightweight devices are ink jet printing, Chemical Vapor Deposition (CVD) and Atomic Layer Deposition (ALD).
The thin film encapsulation industry is expected to witness growth during the forecast period, owing to increase in need for preventing moisture, oxygen, and dust into electronic devices. There are various different technologies such as atomic layer deposition (ALD) and inkjet printing that is used for the encapsulation of flexible OLED displays and lighting products, thin-film batteries, photovoltaic solar cells, and others.
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With the increase in technological innovations, rise in investments related to thin film helps in propelling the demand for the market. Other factors which contributes towards the growth of thin film encapsulation market are reduced device thickness, low cost, and light weight along with improved flexibility.
Factors such as rise in need for thin-film barrier in flexible and organic devices, increase in adoption of flexible OLED Displays for smartphones and smart wearables are the major drivers for the thin film encapsulation market growth. However, high cost and development of flexible glass hinder the market growth.
Furthermore, increase in heavy Investments toward OLED technology and manufacturing facilities, high demand for high-efficiency and thin solar cells and continuous production of OLED lighting provide lucrative opportunities for the market.
The thin film encapsulation market is segmented by technology, application, and region. Based on technology, the market is classified into inorganic layers and organic layers. Based on application, the market is categorized into flexible OLED display, flexible OLED lighting, thin-film photovoltaic, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key players operating in the thin film encapsulation market are Samsung SDI, Veeco Instruments, LG Chem, Universal Display Corp., BASF, Aixtron, Bystronic Glass, AMS Technologies, Angstrom Engineering, and Encapsulix. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the thin encapsulation industry and develop new products for enhancing their product portfolio.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the global thin film encapsulation market share along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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