Photoresist & Photoresist Ancillaries Market

Photoresist Market

The global photoresist market is valued at USD 4.1 billion in 2023 and is projected to reach USD 5.3 billion by 2028, growing at a cagr 5.1% from 2023 to 2028. A photoresist is a light sensitive material composed of adhesive agents, sensitizers, and solvents. Adhesives are used to control the thermal property of the resist. The sensitizers define the photosensitivity of the resist, and solvents define the viscosity of the resist. A photoresist is mainly used in designing circuits. The process of using photoresist in designing circuits is known as photolithography, which is one of the patterning methods of semiconductor fabrication. The applications of photoresist and photoresist ancillaries are semiconductors & ICs, LCDs, PCBs, MEMs, and sensors. There are five main types of photoresists: ArF immersion, ArF dry, KrF, I-line, and G-line.

Attractive Opportunities in the Photoresist and Photoresist Ancillaries Market

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Photoresist and Photoresist Ancillaries Market Dynamics

Driver: Rapidly growing consumer electronics industry to boost growth.

The consumer electronics industry is one of the major application areas of printed circuit boards (PCB)s. The printed circuit board (PCB) is used to mechanically support and interconnect electrical and electronic components using conductive pathways, tracks, or track signals from copper sheets onto non-conductive substrates. The photoresist material is a key material used in the fabrication of PCBs. PCBs are used across various applications including medical devices, LEDs, consumer electronics, industrial equipment, aerospace components, safety and security equipment, telecom equipment, and others.

Restraint: Regulations associated with the environment

Photoresists decompose into low-molecular weight compounds after being exposed to light, including the carrier solvents and phenol, cresol, benzene, toluene, xylene, and other benzene-based aromatic chemicals. Benzene is recognized to have harmful impacts on human health and the environment. The environmental concern about negative impact further leads to imposition of rules and regulations established by bodies such as the EPA and REACH. This environmental concern acts as a major market restraint.

Opportunities: Upcoming technologies such as AI and IoT

The advent of new technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) have created a new product subcategory of intelligent home devices. The use of AI-related technology has opened a myriad of opportunities for electronic materials manufacturers. Technology transitions such as AI and IoT are driving the fast adoption of electronic devices. All these technological advancements require compact PCB designs and hence aid in driving the growth of the photoresist and photoresist ancillaries market.

Challenges : High Cost

The major factor challenging the photoresist and photoresist ancillaries market growth is the cost associated with the photoresist materials in the lithography process. The cost varies as per the complexity of logic in ICs, and the cost depends on the layout along with edge placement error. The layout and edge positioning accuracy affect the pricing. The cost of photoresist is higher since it requires more technology and is harder to use. In certain countries, increasing tax rates also raise the price of photoresist.

Ecosystem

By Photoresist Type, the Arf immersion segment accounted for the largest share during the forecast period

The ArF immersion segment accounted for the largest share in 2022. ArF immersion has the smallest wavelength among all the photoresist types due to which they are suitable for designing small circuits. ArF immersion is used for designing small and more complex circuits. The demand for wearable and small devices is increasing, which is acting as a key driver for the consumption of this type of photoresist. The ArF dry segment is projected to register a CAGR of 5.40% between 2023 and 2028, in terms of value.

By Photoresist Ancillaries Type, the anti-reflective coatings segment accounted for the largest share during the forecast period

Anti-reflective coatings are utilized in the lithography process to improve the photoresist profile and reduce the line width variation caused by scattering and reflecting light. The use of anti-reflective coatings helps improve process operating windows and leads to increased yields while providing cost-effective solutions for advanced semiconductors.

By Application, the semiconductors & ICS segment accounted for the largest share during the forecast period

Semiconductor & ICs is the largest application of photoresist and photoresist ancillaries. Due to the upcoming megatrends, such as 5G, IoT, and AI, the demand for more advance and cutting-edge chips or ICs has increased. This has driven the consumption of photoresist for pattern etching that has led this application segment to acquire a significant share in the photoresist and photoresist ancillaries market.

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China is projected to account for the highest CAGR in Asia Pacific region in the photoresist and photoresist ancillaries market during the forecast period

The Chinese semiconductors market is growing at a higher rate than that of the global market. China is the largest market for semiconductors & ICs globally. It holds a market share of approximately 45% of the demand for silicon chips worldwide. The major application of these chips is in the manufacturing of ICs. Investments from companies, such as Qualcomm and Intel, which are the world’s leading mobile chip and modem manufacturers, will further drive the market in the country.

Key Market Players

Photoresist and photoresist ancillaries comprise of major manufacturers such as JSR Corporation (Japan), Tokyo Ohka Kogyo Co., Ltd. (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Fujifilm Corporation (Japan), and Sumitomo Chemical Co., Ltd. (Japan) were the leading players in the photoresist and photoresist ancillaries market.

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Scope of the Report

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This research report categorizes the global photoresist and photoresist ancillaries market on the basis of Material, End-use industry, and Region.

Photoresist Market, By Type

• ArF Immersion Photoresist
• ArF Dry Photoresist
• KrF Photoresist
• G-line & I-line Photoresist

Photoresist Ancillaries Market: By Type

• Anti-reflective Coatings
• Remover
• Developer
• Others (Primers or Adhesion Promoters and Thinners)

Photoresist and photoresist ancillaries Market, By Region

• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa
• South America

The market has been further analyzed for the key countries in each of these regions.

Recent Developments

• In August 2022, JSR Corporation signed an investment agreement for the establishment of a subsidiary in the area of Shanghai. This is done to strengthen JSR Group's business operations in the Chinese market regarding semiconductor materials.
• In September 2021, JSR Corporation launched a subsidiary in Singapore called "JSR Electronic Materials Singapore Pte. Ltd." in order to boost the sales and marketing efforts of the semiconductor materials business in Singapore and Southeast Asia. With the creation of the subsidiary, the company will improve its   regional marketing and customer service skills in Southeast Asia, which will result in an increase in the client and product base.
• In October 2020, The Tokyo-based Shin-Etsu Chemical Co., Ltd., announced plans to invest 30 billion yen (USD 280 million) in new facilities at its manufacturing facilities for photoresists in Taiwan and Japan. Shin-Etsu will keep investing in facilities to keep up with the rising demand for photoresists, which are crucial in the production of cutting-edge semiconductors.
• In July 2020, TOK advanced materials have started the production of extreme ultraviolet (EUV) in its facility at Songdo, Incheon, South Korea. The step has been taken to serve Samsung electronics as it has increased the use of EUV-based lithography for chip production.

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