Photomask Market to See Huge Expansion in Terms of Revenue during the Forecast Period

In the current business scenario, the demand for displays, semiconductor, and MEMS, particularly in the developing regions, is witnessing a significant growth, owing to the rise in adoption of consumer electronic products and surge in usage of automated systems across various industry verticals. Thus, companies operating in the photomask industry are adopting various innovative techniques to provide customers with advanced and innovative product offerings.

According to a new report published by Allied Market Research, titled, "Photomask Market by Product, Mask Shop Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global photomask market size was valued at $4.00 billion in 2018, and is projected to reach $4.97 billion by 2026, growing at a CAGR of 2.5% from 2019 to 2026.

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Rise in automation in semiconductor and electronics industry along with the innovative advancements in the semiconductor industry is one of the key factors that drive the growth of the photomask market. However, complexity in photomask fabrication and high cost associated with photomask manufacturing hamper the market growth. Furthermore, increase in focus toward advancement in technologies such as Internet of Things (IoT) is expected to create lucrative growth opportunities for the global photomask market.

The key players profiled in the global photomask market include Applied Materials, Inc., SK-Electronics, Advanced Reproductions Corporation, Photronics, LG Innotek, Infinite Graphics Incorporated, Compugraphics Photomask Solutions, Nippon Filcon, HTA Photomask, and Hoya Corporation. These key players have adopted strategies, such as agreements, product development, and joint venture to enhance their position in the photomask market.

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Region-wise, the photomask industry trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. Moreover, Asia-Pacific is the major revenue contributor, owing to the government initiatives and high demand for semiconductor. The photomask market growth in the region is attributed to factors such as higher demand and consumption of photomasks in semiconductor industry.

According to Ankit Prajapati, Lead Analyst, Semiconductor and Electronics at Allied Market Research, "In 2018, the display segment dominated the photomask market. However, the master mask segment is expected to grow at the highest CAGR during the forecast period. By application, display and MEMS segment is anticipated to dominate the market throughout the forecast period (2019-2026). Moreover, the captive mask shop segment dominates the overall tre, in terms of mask type."

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Key Finding of The Photomask Market:

In terms of revenue, captive mask contributed the maximum photomask market size in 2018 and is expected to maintain its lead throughout the forecast period.

The displays segment is expected to grow at the highest CAGR during the forecast period.

In 2018, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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