Global Photoresist Chemicals Market to Exhibit Significant Increase in Demand With Extention of COVID-19 Crisis

Photoresist chemicals refer to the light-sensitive substances which transform internal structure on exposure to UV (UV) light. They are extensively used in many sectors of the industrial and scientific worlds to form a protective layer on sensitive electronics and are particularly adopted in the electronics industry to manufacture certain semiconductors with a high tolerance to ozone. In many instances, they have a controlling effect over various temperature ranges by regulating the rate at which heat is conducted across them. The most common applications of these chemicals include the forming of flat plates or sheets as thin as 0.2 micrometers on sensitive surfaces such as microchips, rubbers, LEDs, thin-film transistors, etc. In fact, there are several applications beyond the domain of electronics.

The rapid growth of the electronics and semiconductor industry is expected to drive the growth of the global photoresist chemicals market during the forecast period. The electronics and semiconductor industry has witnessed massive growth in both developed and emerging economies. According to the India Electronics & Semiconductor Association, the Indian Electronics System Design and Manufacturing (ESDM) market is expected to reach US$ 400 billion by 2020, increasing from US$ 76 billion in 2013. Such massive growth of the electronics and semiconductor industry has led to high demand for photoresist chemicals worldwide.
These chemicals are typically used in electronics and microelectronics and are applied to silicon wafers. Thus, these factors are expected to drive the growth of the global photoresist chemicals market growth over the forecast period. Furthermore, the rising demand for dynamic display technology is expected to boost the global photoresist chemicals market growth over the forecast period.

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Stringent regulatory framework related to the usage of photoresist chemicals typically due to occupational and environmental is expected to hinder the global photoresist chemicals market growth over the forecast period. Among regions, North America is expected to witness significant growth in the global photoresist chemicals market during the forecast period. This is owing to the rapid growth of the electronics and electrical industry in the U.S. Furthermore, Europe is expected to register a robust growth rate over the forecast period, owing to strong demand from major end-use applications in the region.

Key companies involved in the global photoresist chemicals market are Hubbard-Hall Inc., Mitsui Chemicals America, Inc., FUJIFILM Holdings America Corporation, The Dow Chemical Company, and DuPont.

For instance, in January 2020, DuPont announced to invest US$ 28 million to build facilities in South Korea for photoresist chemicals.

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This release was published on openPR.