The rising demand for dynamic display technology is presumed to give the market growth some direction. The global photoresist chemicals market size is projected to create a healthy CAGR of 3.6% from 2022 to 2032. The growth of the market is attributed to the high demand for semiconductors in the electronics and electrical industry is expected to be beneficial for the overall market development. Photoresist chemicals by type include wet chemicals, silicon wafers, low-k dielectric, PCB laminates, CMP slurries, specialty gasses, and photoresists. The global market was valued at US$ 3,185.6 Million in 2022 to surpass a valuation of US$ 4,537.2 Million by 2032. Future Market Insights historical analysis witnessed a CAGR of 2.7% from 2016 to 2021.
Photoresist chemicals are used in the fabrication of these structures, prominently in the microelectronics industry. These are specialty chemicals that change their chemical structure when exposed to ultraviolet (UV) light, this unique property makes them ideal for photolithography and photoengraving processes which in turn are commonly used in the semiconductor manufacturing industry. Furthermore, there are two basic classifications of photoresists, positive and negative, both work on different principles, but cater to similar needs. However, with increasingly smaller geometry designs in the microelectronics industry, positives are becoming more popular, as they offer process controllability.
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Photoresist chemicals are considered an essential component for the construction of high-performance circuit boards and semiconductor chips. Various chemicals are used for this purpose, to achieve the desired properties, such as poly methyl methacrylate (PMMA), poly methyl glutamine (PMGI), phenol formaldehyde resin (DNQ), SU-8, and OSTE polymers. Attributing to the inevitable features offered by Photoresist chemicals and the absence of any other feasible alternatives, the market for photoresist chemicals is ever-growing.
Key Takeaways in the Photoresist Chemicals Market
- The global photoresist chemicals market is anticipated to surge at a phenomenal rate as the demand for micro-electronics continues to steadily grow, amid rising demand for electronic products in developing nations, and increasing penetrations of IoT across the globe.
- The augmenting demand for dynamic display technology is predicted to be another major factor fuelling growth within the global photoresist chemicals market. Excessive R&D in the photoresist chemicals and its end-use industry is expected to drive innovations, further shaping newer demand arenas, and fuelling more revenues in the global photoresist chemicals market.
- Photoresist chemicals are prominently made from crude oil, therefore, rising prices of crude oil are expected to increase costs, coupled with continued pricing pressure from end-use industries, which shall affect margins in the market. Furthermore rising environmental concerns regarding the derogatory effects of these chemicals are also expected to affect the market in the long term.
Competitive Landscape Photoresist Chemicals Market
Prominent players in the Photoresist Chemicals market are focusing on plans to build new plants which are estimated to produce argon fluoride (ArF) photoresists, used in photolithography to form a patterned coating on the surface of semiconductor wafers.
Numerous other key companies are focusing on launching a new line of complementary green solvents for use in photolithographic processes in semiconductor manufacturing. The growing demand for electronic devices, such as smartphones, 5G functionality, gaming, and home entertainment, automotive applications, Internet of Things (IoT), and Artificial Intelligence (AI) has propelled the growth of the semiconductor industry, thereby augmenting the growth of wafer cleaning solvents and equipment. This portfolio is making a huge impact in the semiconductor wet chemical market with its outstanding environmental footprint, simple usage in a broad variety of tools, and excellent resist-dissolution performance.
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Key Segments Covered in the Photoresist Chemicals Industry Analysis
By Product Type:
- Positive
- Negative
By Spectral Line Size:
- g-line
- i-line
- KrF
- ArF Immersion
- ArF Dry
By End Use Application:
- Microelectronics
- Sand Carving
- Fabrication of Printed Circuit Boards
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
More Insights into the Photoresist Chemicals Market
North American region is anticipated to dominate the global photoresist chemicals market throughout the assessment period. The rising market competition in the North American region is expected to boost growth in the market. The United States accumulated a total market share of about 17.4% in 2022. Electronics & electrical industry development in the U.S. played a major role in boosting the regional market demand.
The European region is set to augment the market growth at a significant pace. The European region is anticipated to account for a market share of around 14.6% over the assessment period. Extensive research and studies have taken place in the European market. Germany is slated to dominate the regional market owing to strong demand from the major end-use applications market.
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