Photoresist Market is Forecasted to Reach US$ 2.7 Billion in 2028, Says Stratview Research

The global photoresist market is projected to witness a growth rate of 4.3% annually from 2023 to 2028, with an anticipated size of US$ 2.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global photoresist market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:
Market Size in 2028: US$ 2.7 billion
Growth (CAGR): 4.3% during 2023-2028
Leading Material Type: Krf
Leading End-Use Type: Logic Devices
Leading Application Type: Computer
Leading Region: Asia-Pacific
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Photoresist Market:
The global photoresist market is segmented based on material type, application type, end-use type, and region.

Based on material type - The photoresist market is segmented into EUV, Arfi, Arf, Krf, and G & I Line. Among them, Krf is expected to remain the largest, whereas EUV to the fastest-growing material type in the market during the forecast period. Photoresists with different exposure wavelengths have different limit resolutions for photolithography. One of the most common varieties of photoresist is KrF.

Based on application type - The market is segmented into DAO (Discrete, Analog, and Optoelectronics & Sensors), logic, and memory. Logic devices are predicted to remain the largest application in the market over the next five years. This dominance of logic devices can be primarily attributed to the continued need for logic chips that offer higher performance and energy efficiency. This demand is fueled by the widespread use of consumer electronics such as smartphones, tablets, and laptops. Furthermore, the rollout of 5G technology is anticipated to strengthen this demand, prompting the creation of more potent and efficient logic chips. Consequently, there is an increased requirement for advanced photoresists in this evolving landscape.

Based on end-use type - The market is segmented into communication, computer, consumer electronics, industrial, automotive, and government. Among them, the computer segment is expected to remain the largest end-use type in the market, whereas the communication segment is likely to grow at the fastest pace during the forecast period. The trend of laptops becoming smaller in size has led to a rising need for enhanced capabilities from a single device. This necessitates integrated circuit (IC) chips with a higher transistor count to accommodate additional features. Consequently, there is an increasing demand for high-performance Integrated Circuits (ICs) within the semiconductor market.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest as well as the fastest-growing market for photoresists during the forecast period. This growth outlook is majorly attributed to the following-
· Driven by Taiwan, South Korea, China, and Japan. Taiwan is the largest semiconductor material-consuming country in the world.
· Furthermore, Asia-Pacific is at the forefront of technological advancements, including 5G technology, artificial intelligence (AI), and IoT applications.
· These advancements rely on advanced semiconductor materials and integrated circuits; thus, driving the demand for photoresists.

Likewise, North America and Europe, sizeable markets, are also likely to create healthy growth opportunities in the coming five years, driven by increasing investments in R&D activities.

Photoresist Market Drivers:

Some of the key drivers listed in the report are given below.
· Global demand for semiconductors extends beyond consumer electronics to applications in data centers, automotive, healthcare, and more. These diverse industries contribute to the continued growth of the photoresist market.
· The increasing demand for smaller yet more powerful semiconductor components coupled with the growing trend towards the development of photoresist materials.

Top Companies in the Photoresist Market:

Stratview Research has identified the following companies as the top market players:
• JSR Corporation
• Du Pont De Nemours and Company
• Shin-Etsu Chemical Co., Ltd.
• Merck KGaA

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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