Photoresist Market to Grow with a CAGR of 4.26% through 2028
Growth in research and development activities is
expected to drive the Global Photoresist Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Photoresist Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Photoresist Market stood at USD3.76
billion in 2022 and is anticipated to grow with a CAGR of 4.26% in the forecast
period, 2023-2028. The initiatives taken by government based on Photoresist has
led to favorable market conditions for the Global Photoresist Market. Several
factors contribute to the growth of various Photoresist products.
The Japanese government has recently made the decision
to partially reverse the restrictions on the export of photoresists,
highlighting their recognition of the crucial role these materials play in
global technology supply chains. This significant development showcases their
understanding of the need to support the industry's growth and innovation.
In a recent case, a California-based company pleaded
guilty to a scheme that violated the Export Control Act. This scheme involved
the illegal export of photoresist and High Purity Resistant Developer (HPRD) to
a Chinese company that is listed by the U.S. government as a restricted
recipient. This case serves as a reminder of the importance of enforcing export
regulations to prevent unauthorized transfers of sensitive technologies.
As governments and research institutions continue to
prioritize sustainability, there is a growing focus on exploring green
fabrication routes in the semiconductor industry. One area of interest is the
reduction of Perfluorocarbon (PFC) use in semiconductor production, which
includes finding alternatives and optimizing the use of photoresists. These
efforts aim to minimize the environmental impact of semiconductor manufacturing
while maintaining the high-quality standards expected in the industry.
Browse over XX market data Figures spread
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A key driver behind this remarkable growth is the
significant increase in investments in research and development activities. The
development of new photoresist chemicals and materials involves extensive and
meticulous R&D activities, which are not only costly but also absolutely
essential for technological advancement. These activities encompass a wide
range of scientific experiments, evaluations, and iterative improvements to
ensure the creation of cutting-edge and high-performance solutions.
The industry's relentless drive to innovate is clearly
reflected in the prevailing trends embraced by major manufacturers in the
photoresist market. In order to stay ahead in this highly competitive
landscape, manufacturers are increasingly adopting advanced technologies and
investing heavily in R&D efforts. This strategic focus allows them to
develop new materials that are more efficient, reliable, and eco-friendly,
while also continuously improving the performance and longevity of existing
ones. By pushing the boundaries of what is possible, these manufacturers are
shaping the future of the photoresist market and paving the way for even more
groundbreaking advancements.
The Global Photoresist Market is segmented into type,
application, regional distribution, and company.
Based on its application, the Semiconductors & ICs
segment held the largest share in the market. The significant growth of the
consumer electronic sector can be attributed to various factors. One of them is
the continuous technological advancements in semiconductors and integrated
circuits, which have revolutionized the industry. The widespread usage of
semiconductors in electronic and communication devices, as well as high-end
vehicles, has further fueled this growth. Additionally, the increasing demand
for smartphones, laptops, tablets, and other electronic devices has played a
crucial role in driving the expansion of the consumer electronic sector. These
factors collectively contribute to the rapid growth and development of this
industry.
Based on region, North America segment is expected to
grow during the forecast period.
The rapid growth in the electronics and electrical
sectors, coupled with the adoption of advanced technology, has led to a surge
in demand for the latest electronic gadgets and compact electronic devices.
Additionally, the increasing demand for semiconductors across various industrial
sectors has further contributed to this trend. Furthermore, the market growth
in North America is expected to be fueled by the growing demand for
anti-reflective coatings, the rising production of passenger vehicles and
electric cars, as well as the government initiatives aimed at promoting
electric vehicles. This favorable market landscape presents lucrative
opportunities for businesses operating in this region.
Major companies operating in Global Photoresist Market
are:
- ALLRESIST GmbH
- Asahi Kasei Corporation
- DJ MicroLaminates, Inc.
- DuPont de Nemours Inc
- FUJIFILM Holdings America Corporation
- JSR Corporation.
- KOLON Industries, Inc
- Microchemicals GmbH
- Sumitomo Chemical Co., Ltd.
- Shin-Etsu Chemical Co., Ltd.
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“Growing application of Photoresist in various end
user industries are key drivers of the Photoresist Market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Photoresist with every
passing year are anticipated to register an impressive growth to Global
Photoresist Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Photoresist Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (ARF Immersion Photoresist, ARF Dry Photoresist, KRF Photoresist, G-Line & I-Line Photoresist), By Application (Semiconductors & ICs, LCDs, Printed Circuit Boards, Others), By Region and Competition”, has evaluated the future growth potential of Global
Photoresist Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Photoresist Market.
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