Thin-Film Encapsulation (TFE) Market by Application (OLED Display, Lighting, Thin-Film Photovoltaics), Deposition Technology (Inorganic Layers (PECVD, ALD) and Organic Layers (Inkjet Printing and VTE)), and Geography - Global Forecast to 2023

  • ID: 4515972
  • Report
  • Region: Global
  • 105 Pages
  • Markets and Markets
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FEATURED COMPANIES

  • 3M
  • Angstrom Engineering
  • Beneq
  • Kateeva
  • Meyer Burger
  • Toray Industries
  • MORE

“The thin-film encapsulation (TFE) market for materials is likely to grow at a CAGR of 26.1% between 2018 and 2023”    

The thin-film encapsulation market for materials is expected to reach USD 101.1 million by 2023, at a CAGR of 26.1% during the forecast period. The trend of thin-film encapsulation using inkjet printing, and rapid adoption of flexible OLED displays for smartphones and smart wearables significantly drive the market growth, while the development of flexible glass acts as a major restraint to the market growth.

“Flexible OLED lighting segment is expected to register the highest growth rate in the thin-film encapsulation market for materials during the forecast period”

The demand for flexible OLED lightings is expected to grow at the highest CAGR as the adoption of OLED lightings in automotive applications is likely to increase rapidly during the forecast period. In the past 3 years, several automotive companies have collaborated with lighting manufacturers to develop OLED lighting solutions for cars. OLED lighting solutions can offer better efficiency than conventional incandescent lighting; they also provide opportunities to put a light in new and sometimes startling places and modes that are only starting to emerge in the rapidly changing field. 

“APAC expected to witness the highest demand for thin-film encapsulation materials during the forecast period” 

APAC accounted for the largest share of the thin-film encapsulation market for materials in 2017. Major display panel and brand product manufacturers are based in China, Japan, Taiwan, South Korea, and Hong Kong. South Korea accounted for 74.2% of TFE material demand in APAC in 2017 owing to the presence of industry leaders, such as Samsung and LG Display in the country. Further, the demand for thin-film encapsulation materials from China is expected to increase rapidly during 2018–2023 as various Chinese players, such as BOE Technology and CSOT, are planning to construct facilities to manufacture flexible OLED panels.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:

  • By Company Type: Tier 1 = 20%, Tier 2 = 35%, and Tier 3 = 45%
  • By Designation: C-Level Executives = 40%, Directors = 35%, and Others = 25%
  • By Region: North America = 30%, Europe = 40%, and APAC = 30%

The leading suppliers of thin-film encapsulation equipment and materials in the market are Samsung SDI (Novaled) (South Korea), LG Chem (South Korea), Universal Display Corp. (UDC) (US), Applied Materials (US), 3M (US), Veeco Instruments (US), Kateeva (US), Toray Industries (Japan), BASF (Rolic) (Germany), Meyer Burger (Switzerland), Aixtron (Germany), Bystronic Glass (Germany), AMS Technologies (Germany), and Angstrom Engineering (Canada). Key innovators profiled in this report include Beneq (Finland), Encapsulix (France), Lotus Applied Technology (US), Vitriflex (US), and Picodeon (Finland).

Research Coverage:

The report estimates the market size and future growth potential of the thin-film encapsulation materials across different segments such as application and geography. Moreover, the report includes the industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, and recent developments. 

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market in the following ways:

  • This report segments the thin-film encapsulation market for materials comprehensively and provides the closest market sizes for the applications across different geographic regions.
  • The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and major developments such as product launches and developments, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments in the thin-film encapsulation market.
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FEATURED COMPANIES

  • 3M
  • Angstrom Engineering
  • Beneq
  • Kateeva
  • Meyer Burger
  • Toray Industries
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for TFE Material Market Growth
4.2 TFE Material Market for Flexible OLED Lighting Application, By Region, 2018 vs 2023
4.3 TFE Material Market for Flexible OLED Display Application in APAC, By Country, 2018 vs 2023
4.4 TFE Material Market in APAC, By Application and Country

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Need for Thin-Film Barrier in Flexible and Organic Devices
5.1.1.2 Trend of Thin-Film Encapsulation Using Inkjet Printing Technology
5.1.1.3 Rapid Adoption of Flexible OLED Displays for Smartphones and Smart Wearables
5.1.1.4 Advantages of Thin-Film Encapsulation
5.1.2 Restraints
5.1.2.1 Development of Flexible Glass
5.1.3 Opportunities
5.1.3.1 Heavy Investments in OLED Technology and Manufacturing Facilities
5.1.3.2 Roll-To-Roll Production of OLED Lighting
5.1.3.3 High Demand for High-Efficiency and Thin Solar Cells
5.1.4 Challenges
5.1.4.1 Requirement for Technical Knowhow and Protection of Intellectual Properties

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Development
6.2.2 Manufacturing Technology and Material Supply
6.2.3 TFE Deposition and Product Manufacturing
6.3 Key Industry Trends
6.3.1 Leading OLED Display Panel Suppliers: Current and Future Scenarios
6.3.2 Increased Use of Thin-Film Solar Cells

7 Deposition Technologies Used in Thin-Film Encapsulation
7.1 Introduction
7.2 Inorganic Layers
7.2.1 Pecvd
7.2.2 ALD
7.2.3 Others
7.3 Organic Layers
7.3.1 Inkjet Printing
7.3.2 Vacuum Thermal Evaporation (Vte)

8 TFE Material Market, By Application
8.1 Introduction
8.2 Flexible OLED Display
8.2.1 Smartphone
8.2.2 Smart Wearables
8.2.3 Television and Signage/Large Format Display
8.3 Flexible OLED Lighting
8.4 Thin-Film Photovoltaics
8.5 Others

9 Geographic Analysis
9.1 Introduction
9.2 Asia Pacific (APAC)
9.2.1 South Korea
9.2.2 China
9.2.3 Japan
9.2.4 Taiwan
9.2.5 Rest of APAC
9.3 North America
9.4 Europe
9.4.1 UK
9.4.2 Germany
9.4.3 France
9.4.4 Rest of Europe
9.5 RoW

10 Competitive Landscape
10.1 Overview
10.2 Player Ranking Analysis: Thin-Film Encapsulation (TFE) Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches and Developments
10.3.2 Agreements, Partnerships, Collaborations, Contracts, and Joint Ventures
10.3.3 Mergers and Acquisitions

11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Samsung SDI
11.2.2 LG Chem
11.2.3 Universal Display Corp. (UDC)
11.2.4 Applied Materials
11.2.5 3M
11.2.6 Veeco Instruments
11.2.7 Kateeva
11.2.8 Toray Industries
11.2.9 BASF (Rolic)
11.2.10 Meyer Burger
11.3 Other Key Players
11.3.1 Aixtron
11.3.2 Bystronic Glass
11.3.3 AMS Technologies
11.3.4 Angstrom Engineering
11.4 Key Innovators
11.4.1 Beneq
11.4.2 Encapsulix
11.4.3 Lotus Applied Technology
11.4.4 Vitriflex
11.4.5 Picodeon

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store
12.3 Introducing RT: Real-Time Market Intelligence
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details

List of Tables:
Table 1 Major Secondary Sources
Table 2 Market for Devices With TFE Requirement, 2016–2023 (USD Billion)
Table 3 TFE Material Market, By Application, 2016–2023 (USD Million)
Table 4 Flexible OLED Display Market, By Application, 2016–2023 (Million Units)
Table 5 Flexible OLED Display Panel Production, By Application, 2016–2023 (Thousand Square Meter)
Table 6 TFE Material Market for Flexible OLED Display Application, By Country, 2016–2023 (USD Million)
Table 7 TFE Material Market for Flexible OLED Lighting Application, By Region, 2017–2023 (USD Million)
Table 8 TFE Material Market for Thin-Film Photovoltaics Application, By Region, 2017–2023 (USD Million)
Table 9 TFE Material Market for Other Applications, By Region, 2017–2023 (USD Million)
Table 10 TFE Material Market, By Region, 2016–2023 (USD Million)
Table 11 TFE Material Market in APAC, By Country, 2016–2023 (USD Million)
Table 12 TFE Material Market in Europe, By Country, 2017–2023 (USD Million)
Table 13 Ranking Analysis of Key Players in Thin-Film Encapsulation (TFE) Market, 2017

List of Figures:
Figure 1 Thin-Film Encapsulation Material Market Segmentation
Figure 2 TFE Material Market: Process Flow of Market Size Estimation
Figure 3 TFE Material Market: Research Design
Figure 4 Secondary Sources
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation
Figure 8 Market Assumptions
Figure 9 TFE Material Market, 2016–2023 (USD Million)
Figure 10 Flexible OLED Display Panels to Hold Largest Size of TFE Material Market During Forecast Period
Figure 11 TFE Material Market in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 12 Demand for TFE Materials to Grow Rapidly for OLED Lighting Applications During Forecast Period
Figure 13 APAC to Witness Highest CAGR in TFE Material Market for Flexible OLED Lighting Applications During 2018–2023
Figure 14 South Korea Expected to Account for Largest Share of TFE Material Market for Flexible OLED Display By 2023
Figure 15 Flexible OLED Displays to Hold Largest Share of TFE Material Market in APAC in 2018
Figure 16 TFE Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Flexible Display Panels to Exhibit Higher CAGR in OLED Display Market for Smartphones Between 2017 and 2023
Figure 18 Flexible Display Panels to Hold Larger Size of OLED Display Market for Smartwatches By 2023
Figure 19 OLED Lighting Market, 2014–2023 (USD Billion)
Figure 20 Efficiencies of Different Types of Solar Cells, 2010–2017
Figure 21 Value Chain Analysis: Major Value Added By Manufacturing Equipment, Material Suppliers, and Product Manufacturers
Figure 22 Market for Devices With TFE Requirement, 2016–2023 (USD Billion)
Figure 23 TFE Material Market, By Application, 2018 vs 2023 (USD Million)
Figure 24 South Korea to Account for Largest Share of TFE Material Market for Flexible OLED Display Application in Coming Years
Figure 25 TFE Material Market for Flexible OLED Lighting Application, By Region, 2018 vs 2023 (USD Million)
Figure 26 APAC to Hold Largest Size of TFE Material Market During Forecast Period
Figure 27 Demand for TFE Materials From China to Grow Rapidly During Forecast Period
Figure 28 Germany to Hold Largest Size of European TFE Material Market By 2023
Figure 29 Key Developments By Leading Players in Market Between 2014 and 2017
Figure 30 Samsung SDI: Company Snapshot (2016)
Figure 31 LG Chem: Company Snapshot (2016)
Figure 32 Universal Display Corp. (UDC): Company Snapshot (2016)
Figure 33 Applied Materials: Company Snapshot (2016)
Figure 34 3M: Company Snapshot (2016)
Figure 35 Veeco Instruments: Company Snapshot (2016)
Figure 36 Toray Industries: Company Snapshot (2016)
Figure 37 BASF (Rolic): Company Snapshot (2016)
Figure 38 Meyer Burger: Company Snapshot (2016)

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FEATURED COMPANIES

  • 3M
  • Angstrom Engineering
  • Beneq
  • Kateeva
  • Meyer Burger
  • Toray Industries
  • MORE

Thin-film encapsulation (TFE) is barrier implementation process used in preventing moisture and oxygen permeation into electronic devices. The encapsulation process has a great impact on both the lifetime and reliability of electronic products. Different technologies such as atomic layer deposition (ALD) and inkjet printing can be used for the encapsulation of flexible OLED displays and lighting products, thin-film batteries, photovoltaic solar cells, and others. Technological innovations, rising investments, and IP protections have significantly impacted the TFE market over the years. Reduced device thickness, low cost, and weight in combination with improved flexibility and robustness are the major benefits offered by TFE technology. The newer technologies such as atomic layer deposition (ALD) and inkjet printing are expected to impact the market during the forecast period. The cost of the raw material license, cost of equipment, and optimization in various processes have further steered the TFE market.

The thin-film encapsulation market for materials is estimated to be worth USD 101.1 Million by 2023, growing at a CAGR of 26.1% between 2018 and 2023. The major factors driving the growth of the market are the rapid adoption of flexible OLED displays for smartphones and smart wearables and need for thin-film barriers in flexible and organic devices. The rise in the adoption of high-efficiency thin-film solar cells; huge investments in building OLED manufacturing facilities; and expected roll-to-roll production of OLED lighting are likely to create lucrative opportunities for thin-film encapsulation technology and material providers. The development of flexible glass acts as a restraint, whereas the essentiality of technical knowledge and need to protect intellectual properties pose major challenges to market players.

There are 2 major steps of thin-film encapsulation, i.e., the deposition of an organic layer and inorganic layer. Technologies used in the production of thin-film barriers include PECVD, ALD, inkjet printing, and others. Plasma-enhanced chemical vapor deposition (PECVD) is one of the techniques allowing industrial-scale deposition of good-quality insulating films, such as silicon oxide and silicon nitride with good adhesion. PECVD is cost-effective when used for mass production and can be performed at low temperatures. Major companies in the thin-film encapsulation market that produce deposition equipment based on the PECVD technology are Applied Materials, Meyer Burger, and Aixtron. ALD is an attractive thin-film deposition technology because of its precise control over the thin-film thickness and its ability to produce uniform films over large areas. This type of deposition process works at the low process temperature. Companies such as Samsung Electronics and LG Display are increasingly focused on adopting the ALD-based equipment for depositing barrier films. The ALD-based TFE equipment are manufactured by companies such as Veeco Instruments, Lotus Applied Technologies, and Encapsulix. The inkjet printing is expected to revolutionize the TFE technologies for organic layer deposition. Kateeva is the leading manufacturer of inkjet printing equipment for thin film encapsulation.

The thin-film encapsulation market for materials has been segmented on the basis of application into OLED displays, OLED lighting, thin-film photovoltaics, and others. OLED displays witnessed high demand for TFE materials in 2017. Samsung SDI and LG Chem develop thin-film encapsulation materials for flexible OLED displays. These companies are also working with thin-film encapsulation equipment suppliers such as Kateeva and Applied Materials. The thin-film encapsulation market for materials in OLED lighting applications is expected to grow at the highest CAGR of 31.8% during the forecast period.

North America, Europe, Asia Pacific, and RoW are considered the main regions in the thin-film encapsulation market report. Various market players have a positive outlook for the thin-film encapsulation market in APAC due to the presence of industry-leading customers, such as Samsung and LG Display. The European region has presence of OLED lighting manufacturing companies, and North America has presence of various solar cell developers.

APAC accounted for the largest share of the thin-film encapsulation market for materials in 2017. Major display panel and brand product manufacturers are based in China, Japan, Taiwan, South Korea, and Hong Kong. South Korea accounted for 74.2% of TFE market for materials in APAC in 2017 owing to presence of industry leaders, such as Samsung and LG Display in the country. Further, the demand for thin-film encapsulation materials from China is expected to increase rapidly during 2018–2023 as various Chinese players such as BOE Technology and CSOT are planning to construct facilities to manufacture flexible OLED panels. The growth of the market in Europe is driven by factors including the increasing adoption of OLED lighting solutions in the automotive industry and government support initiatives for OLED lighting research. OSRAM is a leading player in the region.

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  • Samsung SDI
  • LG Chem
  • Universal Display Corp.
  • Applied Materials
  • 3M
  • Veeco Instruments
  • Kateeva
  • Toray Industries
  • BASF (Rolic)
  • Meyer Burger
  • Aixtron
  • Bystronic Glass
  • AMS Technologies
  • Angstrom Engineering
  • Beneq
  • Encapsulix
  • Lotus Applied Technology
  • Vitriflex
  • Picodeon
Note: Product cover images may vary from those shown
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