Photoresist Market to reach USD 14.15 billion by 2029,size,trends

Photoresist is a light-sensitive substance used in photolithography and photoengraving techniques. It shields electronic devices from damaging UV rays. Magnetic recording heads, printing plates, flat-panel liquid crystal displays, microelectromechanical systems (MEMS), and printed circuit boards are all manufactured with it (PCBs). On the other hand, photoresist ancillaries are goods that aid in the efficiency and resolution of the photolithography or photoengraving process.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-photoresist-market

Over the last few years, there has been growth in technological development and increased research and development in the field of semiconductors.  According to the European Semiconductor Business Association (ESIA), the European semiconductor industry generated revenue of US$3.8 billion in May 2021, up 31.2%from May 2020. The growth of the photoresist market is being fueled by an increase in semiconductor production. As a result, expansion in the semiconductor sector is expected to fuel growth in the photoresist market during the forecast period.

The photoresist market was valued at USD 9.18 billion in 2021 and is expected to reach USD 14.15 billion by 2029, registering a CAGR of 5.55% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Photoresist Market Dynamics

Opportunities

Technological Developments and Penetration of Technologies

Furthermore, the surge in technological development across the semiconductors field further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing penetration of internet of things (IoT) are projected to further expand the future growth of the photoresist market.

Drivers

High Utilization and Demand

The demand for photoresist is projected to grow rapidly as they are mostly used in consumer electronics manufacturing. The market is expected to rise due to rising demand for electronic items in developing countries, high demand for display technology and rising need for dynamic display technologies. Furthermore, rising demand due to improved semiconductor production and increased need for micro-electronics around the world are two factors that are expected to boost the market's growth.

Some of the major players operating in the photoresist market are

Tokyo Ohka Kogyo Co., Ltd (Japan)

JSR Corporation (Japan)

DuPont (U.S)

Shin-Etsu Chemical Co., Ltd (Japan)

Fujifilm Corporation (Japan)

Sumitomo Chemical Co., Ltd. (Japan)

ALLRESIST (GERMANY)

Application

Liquid-crystal Displays (LCDs)

Organic Light-emitting Diodes (OLED)

Semiconductors

Integrated Circuits

Microcontact Printing

Microelectronics

Printed Circuit Boards

Others

The countries covered in the photoresist market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the photoresist market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growing per capita income of the people. Moreover, China, South Korea, India, and Japan have all experienced fast expansion in the electronics industry, largely aiding market growth.

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