Photoresist Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025

Overview

Photoresist Market size is forecast to reach $11.99 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. The photoresist market is growing due to the increasing demand in developing nations for electronic products and increasing demand for microelectronics globally. In addition, market growth is driven by rising demand for dynamic display technologies and increasing R&D initiatives that will pave the way for innovative new products.

Photoengraving is a process that uses a light-sensitive photoresist applied to the surface to be engraved to create a mask that shields some areas during a subsequent operation which etches, dissolves, or otherwise removes some or all of the material from the unshielded areas. Normally applied to metal, it can also be used on glass, plastic and other materials.

Based on the chemical structure of photoresists, they can be classified into three types: photopolymeric, photodecomposing, photocrosslinking photoresist. 

Photopolymeric photoresist is a type of photoresist, usually allyl monomer, which could generate free radical when exposed to light, then initiates the photopolymerization of monomer to produce a polymer. Photopolymeric photoresists are usually used for negative photoresist, e.g. methyl methacrylate.

Photodecomposing photoresist is a type of photoresist that generates hydrophilic products under light. Photodecomposing photoresists are usually used for positive photoresist. A typical example is azide quinone, e.g. diazonaphthaquinone (DQ).

Report Coverage

The report: “Photoresist Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Photoresist Industry.

Key Takeaways

• Asia Pacific has a significant market share due to the growth of the electronics industry in this region. Outsourcing the manufacturing activities of electronics from Europe and the US to Asian nations such as China and South Korea has turned the region into an electronic hub.
• The ArF immersion type photoresist offers superior resolution, low defects and excellent cutting. It also helps prevent light from spreading due to its narrow wavelength.
• Technical advances, along with product innovation is a key factor contributing to the growth of the semiconductors & ICs application segment.

Photoresist Type - Segment Analysis

The ArF immersion type is anticipated to be the fastest-growing segment. The technology of ArF immersion is commonly used in circuits of Large Scale Integration (LSI). The narrow wavelength of ArF light source and increased refractive index due to immersion assist photoresist users in meeting their needs of miniaturizing products with improved performance.

Photoresist Ancillaries Type - Segment Analysis

Antireflective coatings held a major share in photoresist market in 2019. Increasing demand for flat display screens coupled with growth in smartphone production is likely to support the growth of the Antireflective Coatings market. During the photolithography phase, they are also used in semiconductor manufacturing. Such materials help eliminate the reflective notch that improves the operation of lithography.

Application - Segment Analysis

The semiconductors & ICs segment is estimated to lead the global photoresist market during the forecast period. Photoresist is used in the electronics industry, particularly in semiconductors & ICs, and printed circuit board designs. ICs are used in a wide range of electronic devices, including smartphones, mobile devices, computers and laptops, tablets and specialized gaming devices. The rise in demand for wearable devices and consumer electronics is a key driver of growth for the photoresist market.

Geography - Segment Analysis

Asia Pacific holds the largest share of the photoresist market. Asia Pacific's dominance in market growth can be attributed to the rapidly rising demand in the electronics industry in countries like China, Japan, Korea, and India. North America and Europe follow the growth of Asia Pacific. The growth of the U.S. electronics & electrical industry played a major role in boosting regional market demand in North America. Europe is also expected to experience significant growth due to strong demand from the global end-use applications industry, Germany is expected to dominate the regional market.

Drivers – Photoresist Market

·         Growing demand for micro fabrication requirements in electronics industry.

The demand for compact electronic devices has been increasing in various sectors such as telecommunication devices, automotive, industrial manufacturing, and healthcare. This trend has pushed manufacturers of semiconductor ICs to invest in R&D, reduce the size and improve IC efficiency, resulting in emergence of MEMS and 3D chip packaging. Therefore, the miniaturization of electronic devices will have a significant impact on manufacturers of semiconductor devices as compact ICs will create a demand for finer patterning that will indirectly generate the need for ArF and KrF during the forecast period.

 Challenges – Photoresist Market

·         Limited photoresist consumption and taxation policies in emerging economies hampers the growth of the market.

Limited photoresist consumption and taxation policies in emerging economies are the major factor restricting the growth of the photoresist market. Manufacturing-related operating costs, together with intense competition from rapidly growing economies, contribute to the photoresist's low consumption in emerging regions. This acts as a restriction to the photoresist market's growth.

Market Landscape

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Photoresist Market. In 2019, the market of photoresist has been consolidated by the top five players accounting for xx% of the share. Major players in the Photoresist Market are AZ Electronic Materials, Dow Chemical Company, TOKYO OHKA KOGYO CO LTD, DuPont, LG Display, Sumitomo Chemical, Fujifilm, Avantor Performance Materials Inc and Shin-Etsu Chemical., among others.

Acquisitions/Product Launches

• In May 2017, ALLRESIST GmbH (Germany) launched positive photoresist under the brand name Phoenix 81 to be used in applications with the NanoFrazor of SwissLitho AG.
• In September 2015, Fujifilm Electronics Materials Co., Ltd. (Japan) acquired Ultra Pure Solutions, Inc. (U.S.), a high-purity solvent manufacturer used in semiconductor processes. The company has improved its role in the segments of semiconductors and photoresists through this acquisition.