Global Photoresist Market, By Type (Positive Photoresist, Negative Photoresist), Chemical Structure (Photopolymeric Photoresist, Photodecomposing Photoresist, Photocrosslinking Photoresist), Product Type (ARF Immersion Photoresist, ARF Dry Photoresist, G-line Photoresist, R-linePhotoresist, KRF Photoresist, Photoresist Ancillaries, Others), Application (Liquid-crystal Displays (LCDs), Organic Light-emitting Diodes (OLED), Semiconductors, Integrated Circuits, Microcontact Printing, Microelectronics, Printed Circuit Boards, Others), End-Use Industry (Electricals and Electronics, Automobiles, Packaging, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been growth in technological development and increased research and development in the field of semiconductors. According to the European Semiconductor Business Association (ESIA), the European semiconductor industry generated revenue of US$3.8 billion in May 2021, up 31.2%from May 2020. The growth of the photoresist market is being fueled by an increase in semiconductor production. As a result, expansion in the semiconductor sector is expected to fuel growth in the photoresist market during the forecast period.
The photoresist market was valued at USD 9.18 billion in 2021 and is expected to reach USD 14.15 billion by 2029, registering a CAGR of 5.55% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Photoresist is a light-sensitive substance used in photolithography and photoengraving techniques. It shields electronic devices from damaging UV rays. Magnetic recording heads, printing plates, flat-panel liquid crystal displays, microelectromechanical systems (MEMS), and printed circuit boards are all manufactured with it (PCBs). On the other hand, photoresist ancillaries are goods that aid in the efficiency and resolution of the photolithography or photoengraving process.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Positive Photoresist, Negative Photoresist), Chemical Structure (Photopolymeric Photoresist, Photodecomposing Photoresist, Photocrosslinking Photoresist), Product Type (ARF Immersion Photoresist, ARF Dry Photoresist, G-line Photoresist, R-linePhotoresist, KRF Photoresist, Photoresist Ancillaries, Others), Application (Liquid-crystal Displays (LCDs), Organic Light-emitting Diodes (OLED), Semiconductors, Integrated Circuits, Microcontact Printing, Microelectronics, Printed Circuit Boards, Others), End-Use Industry (Electricals and Electronics, Automobiles, Packaging, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Tokyo Ohka Kogyo Co., Ltd (Japan), JSR Corporation (Japan), DuPont (U.S), Shin-Etsu Chemical Co., Ltd (Japan), Fujifilm Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), ALLRESIST (GERMANY), Merck Group (Germany), DOW (U.S.), Micro Resist Technology (Germany), DJ MicroLaminates (U.S.), LG Chem (South Korea), Mitsui Chemicals Inc. (U.S.), AZ Electronic Materials Co., Ltd. (Luxembourg), Everlight Chemical Industrial Co. (Taiwan) and Allresist GmbH (Germany)
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Market Opportunities
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Photoresist Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Utilization and Demand
The demand for photoresist is projected to grow rapidly as they are mostly used in consumer electronics manufacturing. The market is expected to rise due to rising demand for electronic items in developing countries, high demand for display technology and rising need for dynamic display technologies. Furthermore, rising demand due to improved semiconductor production and increased need for micro-electronics around the world are two factors that are expected to boost the market's growth.
- Surging Demand for Automobiles
The automobile industry will drive the photoresist market, which uses photoresist materials for in-vehicle applications such as display panels. According to OICA, passenger automobile manufacturing in South Africa reached 3, 21,097 units in 2018 and grew to 3, 42,665 units in 2019, representing an increase of 8.6% over 2018. Furthermore, according to OICA, passenger automobile manufacturing in Malaysia reached 5, 20,526 units in 2018 and grew to 5, 34,115 units in 2019, representing a 2.6% rise over 2018. As a result, rising automobile manufacturing would necessitate more in-vehicle applications, propelling the photoresist market forward over the projection period.
The growing population and increasing penetration of smartphones will further propel the growth rate of photoresist market. Additionally, the accelerating shipments of silicon wafers, rising demand for consumer electronics and surging popularity of wearable devices are projected to bolster the growth of the market.
Opportunities
- Technological Developments and Penetration of Technologies
Furthermore, the surge in technological development across the semiconductors field further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing penetration of internet of things (IoT) are projected to further expand the future growth of the photoresist market.
Restraints/Challenges
- High Costs
The price varies depending on the arrangement and edge positioning inaccuracy. Photoresist also has a lot of technologies and is more complicated to operate, which leads to a greater cost. Additionally, in some nations, higher tax rates increase the cost of photoresist. During the projection period, the photoresist market would be restrained by high costs.
- Regulations Associated with Environment
The environmental concerns about negative consequences further leads to imposition of rules and regulations established by authorities such as the EPA and REACH. This factor will, however slowdown the market growth.
- Volatility in Oil and Gas Prices
The photoresist chemicals are made from petrochemicals, therefore, they are inextricably connected to oil and gas costs. As a result, volatile crude oil and gas prices are expected to stymie overall market growth. Therefore, this factor will challenge the photoresist market growth rate over forecasted period.
This photoresist market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the photoresist market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Photoresist Market
The recent outbreak of coronavirus had a negative impact on the photoresist market and it had a negative impact on the production of electronic and electrical items. According to the Japan Electronics and Information Technology Industries Association (JEIT), overall electronic industry production will grow by 1% in 2020, to US$1,967.4 billion, down from US$1,967.4 billion in 2019. The photoresist industry was also damaged by the second wave of Covid-19 in the first few months of 2021, resulting in losses, but the market was not as badly affected as it was in 2020.
However, it is expected that COVID-19's effect would be reduced by mid-2022, returning the market condition to normalcy as it was before to the COVID-19 pandemic. Furthermore, it will result in an increase in manufacturing related to the photoresist sector.
Global Photoresist Market Scope
The photoresist market is segmented on the basis of type, chemical structure, product type, application and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Positive Photoresist
- Negative Photoresist
Chemical Structure
- Photopolymeric Photoresist
- Photodecomposing Photoresist
- Photocrosslinking Photoresist
Product Type
- ARF Immersion Photoresist
- ARF Dry Photoresist
- G-line Photoresist
- R-linePhotoresist
- KRF Photoresist
- Photoresist Ancillaries
- Others
Application
- Liquid-crystal Displays (LCDs)
- Organic Light-emitting Diodes (OLED)
- Semiconductors
- Integrated Circuits
- Microcontact Printing
- Microelectronics
- Printed Circuit Boards
- Others
End-Use Industry
- Electricals and Electronics
- Automobiles
- Packaging
- Others
Photoresist Market Regional Analysis/Insights
The photoresist market is analyzed and market size insights and trends are provided by country, type, chemical structure, product type, application and end-use industry as referenced above.
The countries covered in the photoresist market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the photoresist market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growing per capita income of the people. Moreover, China, South Korea, India, and Japan have all experienced fast expansion in the electronics industry, largely aiding market growth.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing penetration of smartphones and the rising demand for consumer electronics in the region. The expansion of the electronics and electrical industries in the United States was a major factor in increasing regional market demand.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Photoresist Market Share Analysis
The photoresist market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to photoresist market.
Some of the major players operating in the photoresist market are
- Tokyo Ohka Kogyo Co., Ltd (Japan)
- JSR Corporation (Japan)
- DuPont (U.S)
- Shin-Etsu Chemical Co., Ltd (Japan)
- Fujifilm Corporation (Japan)
- Sumitomo Chemical Co., Ltd. (Japan)
- ALLRESIST (GERMANY)
- Merck Group (Germany)
- DOW (U.S.)
- Micro Resist Technology (Germany)
- DJ MicroLaminates (U.S.)
- LG Chem (South Korea)
- Mitsui Chemicals Inc. (U.S.)
- AZ Electronic Materials Co., Ltd. (Luxembourg)
- Everlight Chemical Industrial Co. (Taiwan)
- Allresist GmbH (Germany)
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