Photoresist and Photoresist Ancillaries Market to Reach US$ 4.84 Billion by 2024 | CAGR 5.90%

Global Photoresist and Photoresist Ancillaries Market to Reach US$ 4.84 Billion by 2024: Increasing Application in Semiconductor Industry Facilitating Growth – IMARCGroup

As per the latest report by IMARC Group, titled “Photoresist and Photoresist Ancillaries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 3.43 Billion in 2018. Photoresists are light-sensitive organic materials that exhibit chemical alterations when exposed to radiation. They are usually found in two forms, namely positive and negative tone resists. While positive tone resists are soluble in the presence of ultraviolet (UV) light, the exposed areas of negative tone resists are insoluble and cross-linked when subjected to UV rays. They can be used in several processes, such as photoengraving and photolithography. On the other hand, photoresist ancillaries are associated materials that are used during lithography. Currently, most of the products produced in the photoresist and photoresist ancillaries industry are solvent-based solutions, such as stabilizers, polymer resins, cross-linking agents and electronic-grade solvents.

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Market Trends:

One of the significant growth-inducing factors in the photoresist and photoresist ancillaries market is the increasing use of flat-panel displays. Photoresists are required in these displays for responding to the light to form three different pixels of red, green, blue and other colors. Consumers widely prefer flat-panel displays over other variants as they are relatively lighter, thinner and energy-efficient. Apart from this, photoresists are utilized in wiring configuration in the manufacturing of multi-layered semiconductors which plays a vital role in consumer electronics, such as computers, laptops, music players, phones and other household appliances. Furthermore, technological advancements in display technology, in confluence with the growing semiconductor industry, are anticipated to significantly catalyze the demand for photoresists and photoresist ancillaries in the upcoming years. Looking forward, the market value is projected to reach US$ 4.84 Billion by 2024, expanding at a CAGR of 5.90% during 2019-2024.

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Market Summary:

• On the basis of the product type, the photoresist market has been divided into KrF, ArF dry, ArF immersion, and g- and i-line. On the other hand, the photoresist ancillaries market has been segmented into anti-reflective coatings, remover, developer and others. Currently, ArF immersion and anti-reflective coatings exhibit a clear dominance in the photoresist and photoresist ancillaries markets, respectively.
• Based on the application, the market has been divided into semiconductors and Integrated Compound Semiconductors (ICS), Liquid Crystal Display (LCD), printed circuit boards, and others. Amongst these, semiconductors and ICS account for the majority of the total market share.
• Region-wise, the market has been classified into Asia Pacific, North America, Europe, Latin America, Middle East and Africa. At present, Asia Pacific is the leading market owing to the rising demand for semiconductors in the region.
• The competitive landscape of the market has been examined in the report, with some of the key players being Tokyo Ohka Kogyo Co., Ltd., JSR Corporation, DowDuPont Inc., Shin-Etsu Chemical Co. Ltd., Fujifilm Electronics Materials Co., Ltd., Sumitomo Chemical Co., Ltd., Merck Az Electronics Materials, Allresist GmbH, Avantor Performance Materials, LLC and Microchemicals GmbH.

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