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The photoresist market size is forecast to increase by USD 952.9 million and is estimated to grow at a CAGR of 7.08% between 2023 and 2028. The semiconductor industry is experiencing significant growth due to the increasing demand for electronics in various sectors, including consumer electronics, automotive, and industrial automation. This trend is driving advancements in materials and technology, leading to the development of more efficient and powerful semiconductor devices. In response to this demand, the number of semiconductor fabrication plants, or fabs, is on the rise. These facilities utilize advanced manufacturing processes to produce complex semiconductor components, enabling the production of smaller, faster, and more power-efficient devices. The semiconductor industry's continuous innovation and expansion are essential to meeting the growing demand for electronics and driving technological progress in various industries.
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The market refers to the industry that produces and supplies photoresist materials used in various industries, including Electricals and Electronics, Automobiles, and 3D Printing. Photoresist materials are essential in photolithography, a patterning method used in semiconductor fabrication and Liquid-Crystal Displays (LCDs) production. These materials consist of adhesive agents, sensitizers, and solvents that enable the creation of intricate patterns on semiconductors and other substrates. The thermal property and photosensitivity of photoresist materials play a crucial role in their application. The electrical sectors, including semiconductors and memory chips, are significant consumers of photoresist materials due to their miniaturized semiconductor devices' increasing demand. The automobile industry, particularly the Car industry, Passenger Cars, Light Commercial Vehicles, and Electric Vehicles, also utilizes photoresist materials in manufacturing circuits and other electrical components. Moreover, the growing trend of 3D Printing, Drones, and Aerogel production is expected to boost the market's growth. The versatility of photoresist materials in various industries, including Electronics, makes them an indispensable component in numerous applications. The viscosity and other properties of photoresist materials are continually being optimized to cater to the evolving demands of various industries. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for electronics is notably driving market growth. The market is experiencing significant growth due to the increasing demand for advanced semiconductors and electronic devices in various industries. Photoresist materials play a crucial role in the production of integrated circuits, diodes, transistors, microprocessors, computer memory chips, and circuit boards.
Moreover, in the semiconductor segment, photoresist is used to create the patterns on silicon wafers, which are essential for manufacturing smaller and more complex devices. The automobile industry and the car industry are adopting photoresist materials for in-vehicle applications such as printing plates for dashboard displays, microelectromechanical systems, and magnetic recording heads.Thus, such factors are driving the growth of the market during the forecast period.
Advancements in material technology is the key trend in the market. Direct incident beam lithography, a new technology, utilizes the "direct-wire" method to create intricate three-dimensional (3D) lithographic patterns of various nanoparticle materials, such as metals, semiconductors, insulators, and magnets. This technique offers numerous advantages, including its wide range of applications in fields like magnetics, photonics/plasmonics, 3D electronic structures, and micro-electromechanical systems (MEMS/NEMS).
Moreover, the versatility of direct incident beam lithography lies in its quick and easy patterning process, the availability of multiple writing modes, and its flexibility in nano/microfabrication. In the global semiconductor industry, the demand for smart devices continues to grow, with applications ranging from consumer electronics like Liquid-crystal Displays (LCDs), Smartphones, and Wearable devices, to the Internet of Things (IoT), Artificial intelligence, and automotive industries, including the car industry and in-vehicle applications. Thus, such trends will shape the growth of the market during the forecast period.
Slowdown in semiconductor industry growth is the major challenge that affects the growth of the market. The market is experiencing significant shifts due to evolving industry dynamics, particularly in sectors such as semiconductors and automobiles. These industries are undergoing transformative changes, leading to fluctuating demand patterns for photoresist materials. Factors contributing to this trend include a decrease in consumer electronics and automobile sales, as well as a global shortage of skilled labor.
Moreover, these challenges impact the profitability of manufacturing companies, subsequently influencing the demand for photoresist materials. External factors, such as the ongoing trade war between China and the US and the global COVID-19 pandemic, further complicate the situation by disrupting the semiconductor industry's output on a global scale. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allresist GmbH: The company offers photoresists such as SPR 3, SPR 700 and MCPR.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The ArF photoresist segment is estimated to witness significant growth during the forecast period. The market encompasses a range of materials utilized in the production of advanced semiconductors, Liquid-crystal Displays (LCDs), and various electronic devices. ArF Dry Film photoresists are a crucial component in ArF immersion lithography, a technique employed in semiconductor manufacturing to achieve smaller line widths and expand process operating windows.
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The ArF photoresist segment was the largest segment and valued at USD 900.20 million in 2018. This technique involves using a layer of fluid between the wafer and optics to change the beam and enhance resolution depth. The miniaturization of electronic components, driven by the semiconductor industry's pursuit of smaller IC nodes, necessitates the use of specialized equipment and materials. The challenge of designing and manufacturing increasingly complex ICs as their size decreases necessitates the adoption of advanced lithography techniques. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 58% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses a range of materials utilized in photolithography processes for semiconductor fabrication, LCD production, and PCB manufacturing. Key components of photoresists include adhesive agents, sensitizers, and solvents, which impact their thermal properties, photosensitivity, and viscosity. In semiconductor fabrication, photoresists are essential for creating circuits through photolithography, employing various patterning methods such as ArF immersion, ArF dry, KrF, I-line, and G-line. These materials are also indispensable in the production of compact PCB designs, where conductive pathways are etched onto copper sheets and non-conductive substrates. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Photoresist is a crucial material used in various industries, including semiconductor fabrication and LCD manufacturing. It plays a significant role in photolithography, a patterning method used to create circuits and other structures on various substrates. Photoresist consists of adhesive agents, sensitizers, and solvents that enable the material to adhere to substrates and exhibit photosensitivity. The thermal property and viscosity of photoresist are essential factors in determining its suitability for different applications. In semiconductor fabrication, ArF immersion and ArF dry photoresists are commonly used for producing high-resolution patterns in photolithography processes. KrF, I-line, G-line, and other photoresists are also used for different applications, such as producing larger patterns or in older fabrication processes.
Moreover, photoresist is used in various industries, including LCD manufacturing for creating conductive pathways on non-conductive substrates, and in the production of printed circuit boards (PCBs), sensors, and MEMS devices. In recent years, the demand for photoresist has grown due to the increasing production of IoT and AI-enabled intelligent home devices. Electronic materials manufacturers produce a range of photoresists, including those based on aromatic chemicals such as phenol, cresol, benzene, toluene, and xylene. The choice of photoresist depends on the specific application requirements, such as the lithography process, edge placement error, and tax rates. Anti-reflective coatings are also used to improve the efficiency of photoresist in photolithography processes. The ArF immersion and ArF dry segments are the largest markets for photoresist due to their use in high-resolution semiconductor fabrication processes. The demand for compact PCB designs and the increasing use of photoresist in IoT and AI applications are expected to drive the growth of the market in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2024-2028 |
USD 952.9 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
6.49 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 58% |
Key countries |
China, US, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGC Inc., Allresist GmbH, Applied Materials Inc., DJ MicroLaminates Inc., DuPont de Nemours Inc., Everlight Chemical Industrial Co, FUJIFILM Corp., 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., Suzhou Crystal Clear Chemical Co. Ltd, and TOKYO OHKA KOGYO CO. LTD. |
Market dynamics |
Parent market analysis, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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