Photoresist Market - Forecasts from 2025 to 2030

The photoresist market is expected to grow at a CAGR of 6.13%, reaching a market size of US$6.754 billion in 2030 from US$5.324 billion in 2025.

The market for the photoresist is driven by multiple factors. The automobile industry is a prominent industry that would drive the photoresist market, where these materials are used for in-vehicle applications. Further, the growing demand for electronic equipment will positively impact this market’s development over the forecast period.

Developing semiconductor industry for hardware and electrical equipment is supposed to be advantageous for market growth. The upcoming modern-age technology, such as quantum computers, artificial intelligence, machine learning, blockchain, etc., further enlarges the photoresist market development.

• The automobile industry is a prominent end-user industry where photoresist is utilized. According to the IEA (International Energy Agency), EV sales had been 4.7 million in 2021, rising to 7.3 million in 2022 and 9.5 million in 2023.
• According to the Semiconductor Industry Association, between January 2020 and January 2022, the global industry is projected to have added enough manufacturing capacity to produce an additional 4 million wafers per month, an increase of over 20%.

Photoresist market drivers

Growing demand from the semiconductor segment

A photoresist is a light-sensitive polymer. The photoresists used in semiconductors are light-sensitive polymers that change their structure when exposed. The semiconductor industry is witnessing a sharp increase as it is being utilized in memory, logic, analog, and MPU. According to the Semiconductor Industry Association (SIA), industry sales hit $49.1 billion during May 2024, an increase of 19.3% compared to the May 2023 total of $41.2 billion.

The semiconductor industry enabled advances in medical devices, health care, communications, computing, defense and aerospace, transportation and infrastructure, energy, and future technology such as artificial intelligence, quantum computing, and advanced wireless networks. These increased applications of the semiconductor would lead to the demand for photoresist materials.

Photoresist market geographical outlooks

The photoresist market is segmented into five regions worldwide

By geography, the photoresist market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see the fastest growth in the photoresist market due to increasing consumer electronics. India’s domestic production of electronics products increased at a CAGR of 13% from $49 Bn in FY17 to $101 Bn in FY23. The country's electronics export is expected to reach $120 Bn by FY26, according to Invest India. North America is expected to have a significant market share for photoresist material due to its major utilization of artificial intelligence and quantum computing.

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Report Coverage:

• Historical data & forecasts from 2022 to 2029
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
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The photoresist market is segmented and analyzed as follows:

By Type

• ArF Immersion
• ArF Dry Film
• KrF
• G-Line & I-line
• Others

By Application

• Semiconductors
• Liquid Crystal Displays (LCDs)
• Printed Circuit Boards (PCBs)
• Others

By End-user Industry

• Electricals and Electronics
• Automobiles
• Packaging
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific