Photoresist And Photoresist Ancillaries Market 2020 By Industry Trend, Revenue & Growth Forecast To 2024
Rising trend of microfabrication in semiconductors industry is providing a significant impetus to Photoresist and Photoresist Ancillaries Market. Photoresist ancillaries emerged as a core material used in various processes like photo graving.
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The escalating market demand for semiconductors from electronics and telecommunication industry is likely to leave a subsequent influence on the product demand. With the globe treading on the path of advanced display, photoresist and photoresist ancillaries market is witnessing a renewed commercialization. From CRT to light emitting diode, photoresist ancillaries are in high demand as they enhance the efficiency of Photolithography, which is a crucial process in the electronics sector. Holding a market valuation of USD 3.5 billion in 2016, photoresist and photoresist ancillaries market is slated to carve a profitable road map in the years ahead with 6.5% CAGR over 2017-2024.
Growth Drivers are:
o High growth in semiconductor industry
o Developments in display technology
Worldwide, photoresist and photoresist ancillaries industry is somewhat consolidated with top four firms covering 75% of the overall volume. Key market players are striving to expand their business by adopting various strategies such as alliances, increased production capacity, and huge research investments.
For instance, JSP Corp. and PERI Corporation have entered into a strategic partnership in order to widen their business territory in South Korea. Tokyo Ohka Kogyo Company has also expanded its production in Japan. The advent of digitization and IoT is expected to further propel the photoresist and photoresist ancillaries industry trends as companies would leverage the power of IT to upgrade their product portfolio and optimize reliability.
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Global semiconductor industry collected a phenomenal revenue of USD 300 billion in 2016. The remarkable growth of the industry is leaving a parallel impact on photoresist and photoresist ancillaries market size. The overall industry share from integrated and semiconductors application is likely to scale high in the years ahead, subject to the growing demand for semiconductors. Other than semiconductors and integrated circuits, photoresist and photoresist ancillaries market also finds application in sensors, nanoelectromechanical systems, microelectromechanical systems, and printed circuit boards.
Considering the product trends, photoresist market is fragmented into ArF dry, ArF immersion, G-line and I-line, and KrF grades. Increasing proliferation of microelectronics is likely to drive KrF grade market demand. ArF immersion will also contribute significantly toward the overall photoresist and photoresist ancillaries industry share, with a target revenue to exceed USD 1 billion by the end of 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o Avantor Performance Materials Inc
o A-Z Electronic Materials S.A
o The Dow Chemicals Company
o E. I. du Pont de Nemours and Company (DuPont)
o FUJIFILM Electronic Materials Co. Ltd.
o JSR Corporation
o Shin-Etsu Chemical Co. Ltd.
o Sumitomo Chemical Co. Ltd.
o Tokyo Ohka Kogyo Co. Ltd.
o LG Chem
o Eternal Materials Co.
o HTP HiTech Photopolymere AG
o Kolon Industries
o Asahi Kasei Corporation
o Hitachi Chemical Co. Ltd.
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Regionally, photoresist and photoresist ancillaries market demand is quite heavy across APAC belt. Expanding electronics and communication industry is the prime factor that can be credited for the regional growth. With China and South Korea at the growth front, Asia Pacific photoresist and photoresist ancillaries market is projected to record USD 4 billion by the end of 2024. Along the same lines, North America is also likely to experience a strong command over the global industry. With a valuation of USD 350 million in 2016, the regional market is anticipated to witness substantial growth over 2017-2024.
The products of the industry are solvent based. Stringent regulatory norms enforced by some of the renowned organizations like REACH and EPA, subject to its environmental unfeasibility is creating a threat for the industry participants. In order to overcome the challenges, companies are looking forward to various bio based alternatives to sustain in the competitive landscape. Some of the prominent photoresist and photoresist ancillaries industry participants include AZ Electronic Materials, JSR Corporation, The Dow Chemical Company, Tokyo Ohka Kogyo, and Hitachi Chemical.
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