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The photoresist market is projected to grow by USD 785.86 million with a CAGR of 5.96% during the forecast period 2021 to 2026.
This photoresist market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the photoresist market segmentation by type (ArF photoresist, KrF photoresist, G-line and I-line photoresist, and EUV photoresist) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The photoresist market report also offers information on several market vendors, including AGC Inc., Allresist GmbH, Applied Materials Inc., DJ MicroLaminates Inc., DuPont de Nemours Inc, Everlight Chemical Industrial Corp., FUJIFILM Holdings Corp., Jingrui Electronic Materials Co. Ltd., JSR Corp., KLA Corp., Lam Research Corp., LG Chem Ltd., Merck KGaA, Micro resist technology GmbH, Mitsui Chemicals Inc., PhiChem Corp., Shenzhen RongDa Photosensitive Science and Technology Co. Ltd., Shin Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., and TOKYO OHKA KOGYO Co. Ltd. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the Photoresist Market. During the COVID-19 pandemic, the demand for the photoresist market was impacted significantly, but a holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain competitive advantages.
Key Photoresist Market Driver
The growing demand for electronics is one of the key factors driving the growth of the global photoresist market. The advancements in the electronic industry, such as 3D printing, drones, claytronics, aerogel, and conductive polymers, increase the demand for faster, smaller, and low-cost electronics. The recent advancements in technology and the enhancements in the existing equipment used in the production of photoresist materials have increased the quality and performance of consumer electronics. The cost of production of electronic devices is declining, thus increasing the adoption of newer devices. Vendors in the market are developing strategies to meet the growing demand for advancements in electronics. Flat-panel displays (such as LCDs, LEDs, and plasma displays) are being increasingly adopted. These displays are used in mobiles, computers, and other devices. The manufacturing and processing of these displays require different chemicals and materials. The increased adoption of these displays is, therefore, expected to foster the growth of the photoresist market during the forecast period. New applications for polymers for electrical and electronic applications are expected to contribute to the growth of the global photoresist market, especially in North America and Europe, during the forecast period.
Key Photoresist Market Trend
Advancements in material technology will fuel the global photoresist market growth. The "direct-wire" method is used in the new technology, direct incident beam lithography, to create three-dimensional (3D) lithographic patterns on a variety of nanoparticle materials, including metals, semiconductors, insulators, and magnetic materials. This technology has a wide variety of applications, including in magnetics, photonics/plasmonics, 3D electronic structures, and MEMS/NEMS. The quick and easy patterning process, the variety of writing modes, the wide range of applications, and the great flexibility and utility in nano/microfabrication are all advantages of direct incident beam lithography. The manufacture of semiconductors and electrical devices has changed as a result of advancements in material technology. The transition from MEMS to bio-NEMS/MEMS is leading to the innovation of the most cutting-edge materials for patterning by using photoresist and photoresist ancillaries. As a result, the market for photoresists and related products will have countless prospects as a result of the commercialization of such materials and technologies.
Key Photoresist Market Challenge
A slowdown in the semiconductor industry's growth is the major challenge for the global photoresist market growth. Market dynamics in some industries, including semiconductors and automobiles, are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations, which are adversely affecting the photoresist market. Factors such as a decline in demand for consumer electronics and automobiles and the shortage of skilled workforce across the world have directly affected the profitability of manufacturing companies, which, in turn, affects the demand for photoresist materials. A sudden and unexpected shift in market dynamics can drastically impact the manufacturing of and investments in capital goods. Factors such as the rising trade war between China and the US and the global impact of the COVID-19 outbreak are expected to impact the output of the overall semiconductor industry across the world. Furthermore, high inventory levels of smartphones and the use of cloud infrastructure have brought about pricing pressure and negatively impacted the photoresist market. The above factors will hinder the market growth during the forecast period.
This photoresist market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global photoresist market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the photoresist market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the photoresist market encompasses successful business strategies deployed by the key vendors. The photoresist market is concentrated, and the vendors are deploying growth strategies such as increasing their capacities to ensure smooth and easy access to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The photoresist market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our In-house experts produce extensive information on the value chain and parent market of the photoresist market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global chemicals market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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63% of the market’s growth will originate from APAC during the forecast period. China, Japan and South Korea are the key markets for the photoresist market in APAC. Market growth in this region will be faster than the growth of the market in regions.
Growing demand for electronics will facilitate the photoresist market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 in APAC hampered the growth of the regional photoresist market. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or full lockdowns due to the pandemic. In March 2020, the Indian Government imposed a nationwide lockdown to prevent the community spread of the disease. All manufacturing industries were highly affected as their production units were either closed or halted. This is expected to negatively impact the growth of the photoresist market in APAC during the forecast period.
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The photoresist market share growth by the ArF photoresist segment will be significant during the forecast period. The miniaturization of electronic components is the major driver of this segment. With major foundries focusing on delivering ICs of smaller node sizes, the need to use equipment and materials that are suited for these nodes has become important. The decreasing size of these components is a challenge for developers, as the complexity of design increases as the size of the IC decreases. Through lithography, IC geometries can be reduced significantly.
This report provides an accurate prediction of the contribution of all the segments to the growth of the photoresist market size and actionable market insights on the post-COVID-19 impact on each segment.
Photoresist Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.96% |
Market growth 2022-2026 |
$785.86 million |
Market structure |
Concentrated |
YoY growth (%) |
7.1 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 63% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AGC Inc., Allresist GmbH, Applied Materials Inc., DJ MicroLaminates Inc., DuPont de Nemours Inc, Everlight Chemical Industrial Corp., FUJIFILM Holdings Corp., Jingrui Electronic Materials Co. Ltd., JSR Corp., KLA Corp., Lam Research Corp., LG Chem Ltd., Merck KGaA, Micro resist technology GmbH, Mitsui Chemicals Inc., PhiChem Corp., Shenzhen RongDa Photosensitive Science and Technology Co. Ltd., Shin Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., and TOKYO OHKA KOGYO Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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