Photoresist & Photoresist Ancillaries Market worth $5.3 billion by 2028 | Key players Tokyo Ohka Kogyo Co., Ltd, JSR Corporation, Shin-Etsu Chemical Co., Ltd, Fujifilm Corporation, Sumitomo Chemical Co., Ltd.

According to recent market research the "Photoresist & Photoresist Ancillaries Market by Photoresist Type (ArF Immersion, ArF Dry Film, KrF, G-line & I-line), Ancillary Type (Anti-reflective Coating, Remover, Developer), Application (Semiconductor & IC, LCD, ), Region - Global Forecast to 2028", is approximated to be USD 4.1 billion in 2023, and it is projected to reach USD 5.3 billion by 2028, at a CAGR of 5.1%. The photoresist and photoresist ancillaries market is driven by semiconductor industry growth, technological advancements such as the development of smaller feature sizes, new lithographic techniques (such as EUV lithography), increasing demand for consumer electronics, and continuous investments in R&D which help developing new formulations, processes, and materials that offer improved performance and reduced costs. Regulations associated with the environment are a major restraint in the market. The upcoming technologies such as AI and IoT are a major opportunity. The photoresist and photoresist ancillaries market also faces the challenge of constantly changing market dynamics.

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The photoresist and photoresist ancillaries' market is segmented on the basis of type into ArF Immersion, ArF Dry Film, KrF, G-line & I-line. The G-line segment is projected to register the highest CAGR between 2023 and 2028 due to its increasing application in the production of various types of sensors. The major applications are sensors, LCDs, and automotive power semiconductors. The G-line segment growth will be boosted by the growth of automotive power semiconductors and sensors during the forecast period.

Anti-reflective coatings (ARCs) are commonly used in conjunction with photoresists to enhance the performance of lithographic processes. The integration of anti-reflective coatings with photoresists improves the overall lithographic performance, enabling more precise patterning and higher process yields in the manufacturing of advanced microelectronics and semiconductor devices. Owing to properties, such as preventing light spreading and high resolution, the anti-reflective coatings segment accounted for the largest market share in 2022 and is projected to dominate the market in the forecast period.

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Photoresists play a crucial part in the production of semiconductors and integrated circuits (ICs). On semiconductor substrates, they are used to pattern and outline complicated circuitry. The desired design is written into the photoresist by applying it as a thin layer and selectively exposing it to light using a photomask or direct laser writing. Transistors, interconnects, and other parts that are the foundation of contemporary semiconductor devices are made possible by these methods. ICs are used in numerous electronic devices, including smartphones, mobile devices, laptops, tablets, and gaming devices. The continuously increasing demand for chips and ICs due to the upcoming trends such as 5G, AI, and IoT is driving the market for photoresist and photoresist ancillaries in this application.

The Asia Pacific region, particularly Taiwan, China, Japan, and South Korea, is recognized as a center to produce semiconductors and electronic devices on a global scale. The need for photoresists is driven by the abundance of semiconductor production facilities and electronics producers in this region. The semiconductor sector in the area is supported by a strong and effective supply chain ecosystem.

The photoresist and photoresist ancillaries market comprise of major players such as Tokyo Ohka Kogyo Co., Ltd (Japan), JSR Corporation (Japan), Shin-Etsu Chemical Co., Ltd (Japan), Fujifilm Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), and others. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the photoresist and photoresist ancillaries market.

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JSR Corporation is one of the world's leading chemical material companies. The company operates through four business segments i.e., Digital Solutions, Plastics, Life Science and Others. It offers photoresist materials under the digital solution business. JSR Group operates in 12 countries and regions which include Japan, North America, China, Belgium, Korea, Taiwan, Switzerland, UK, the Netherlands, Thailand, Germany, and Singapore.

Tokyo Ohka Kogyo Co., Ltd. is a is a renowned chemical company with a global presence. The company specializes in advanced materials, functional coatings, and chemical products and has been a pioneer in innovation and technology. The company sells and manufactures photoresists and high purity chemicals. These are used in photolithography process of semiconductor and display, processing equipment for semiconductor and display manufacturing. Headquartered in Tokyo, Japan, the company has successfully expanded its operations worldwide and maintains subsidiaries and affiliates in numerous countries. TOK provides an extensive portfolio of products and services that serve diverse industries such as electronics, semiconductors, automotive, telecommunications, and display technologies.

Shin-Etsu Chemical Co., Ltd. is involved in the manufacture and sale of industrial chemicals. It has business segments like Infrastructure materials, electronic materials, Functional, materials, and Processing and Specialized services. The photoresist materials are included under the electronic materials segment. The company has 16 companies and 27 production bases in Japan.

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