Photoresist Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Photoresist Market Trends

Semiconductor Segment to Dominate the Market

• The semiconductor segment is likely to be the most important because it is used to make many different kinds of electronic devices, such as diodes, transistors, and integrated circuits.
• Semiconductors are devices made from materials that conduct under specific conditions, and ICs are the smaller version of circuit boards consisting of thousands of small electronic components such as resistors, capacitors, and transistors. ICs are used in many electronic devices, and the fact that the demand for electronic devices keeps going up should be good for the growth of the market as a whole.
• Photoresists are becoming more popular because they are used to make printing plates, printed circuit boards, flat panel liquid crystal displays, magnetic recording heads, microelectromechanical systems (MEMS), and, most importantly, integrated circuit (IC) devices like microprocessors and computer memory chips.
• ArF, which comes in two forms (ArF Dry and ArF Immersion), is one of the most popular types of photoresist on the market. This is because ArF photoresist is used to make semiconductor ICs smaller.
• But a trade dispute between Japan and South Korea could have serious effects on the global semiconductor industry, which in turn affects the demand for photoresist around the world.
• However, semiconductor sales worldwide will reach USD 580.13 billion in 2022. Semiconductors are crucial components of electronic devices, and the industry is highly competitive. The year-on-year growth rate in 2022 reached 4.4%.
• As per the World Semiconductor Trade Statistics (WSTS) organization, in 2022, all geographical regions are expected to show double-digit growth except Asia Pacific. The largest region, Asia Pacific, is expected to decline by 2.0%. The Americas region is expected to show growth of 17.0%, Europe 12.6%, and Japan 10.0%.
• All of these things are likely to increase the market's demand over the next few years.

Asia-Pacific Region to Dominate the Market

• The Asia Pacific region stands to be the largest and fastest-growing market for the electronics industry. The region's market will grow because of things like the rise of smart devices and the rise of consumer electronics.
• Asia-Pacific countries like South Korea, China, Taiwan, India, and Japan have a big share of the photoresist chemicals market in the region. This is because the electronics industry is growing, which is driving up demand and helping the region's market grow.
• China has the world’s largest electronics production base and offers tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, have the highest growth rates in the consumer electronics segment of the market in terms of demand. With more money in the pockets of middle-class people, demand for electronics is expected to rise steadily in the future. This is what drove the market study.
• China's electronics manufacturing industry is growing all the time because of low costs and rising demand for electronics products.With more money in the pockets of middle-class people, the demand for electronics is expected to grow in the near future.
• The Japanese electrical and electronics industry is one of the world’s leading industries. The country is a world leader in the production of video cameras, compact discs, computers, photocopiers, fax machines, cell phones, and various other key computer components.
• According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of displays, servers, storage equipment, etc., is increasing at a steady pace on a year-over-Y basis.
• The Ministry of Economy, Trade, and Industry (METI) identified advanced manufacturing as one of the fastest-growing sectors, which was estimated to be valued at USD 270 billion by 2020. It includes IoT-related and smart factory technologies.
• So, all of these market trends are likely to boost the demand for photoresist in the region over the next few years.

Photoresist Market Competitor Analysis

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support