What Has Been the Progress and Growth of the Photoresist Electronic Chemical Market in Recent Years?
The photoresist electronic chemical market has seen considerable growth due to a variety of factors.
• The market size for electronic chemicals used in photoresist has seen a robust growth in the recent past. It is predicted to rise from $11.14 billion in 2024 to $12.17 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%.
This growth during the historic period is due to factors such as the growth of the semiconductor industry, progress in microelectronics, escalating demand for consumer electronics, global spread of electronics manufacturing, and the integration of sophisticated materials.
What Can Be Expected from the Photoresist Electronic Chemical Market Size?
The photoresist electronic chemical market is expected to maintain its strong growth trajectory in upcoming years.
• The market for photoresist electronic chemicals is predicted to experience robust expansion in the upcoming years. It's estimated that by 2029, the market will reach $16.19 billion with a CAGR of 7.4%.
This growth within the predicted timeframe can be accredited to factors such as the growth of Internet of Things (IoT), implementation of Artificial Intelligence (AI) and machine learning, the boom in electric vehicles (EVs), emphasis on environmental sustainability, and supply chain resilience. Significant trends projected during this period include a demand for miniaturization, the advent of advanced semiconductor technologies, adoption of green and sustainable practices, increase in IoT devices, and transition towards 3D IC integration.
What Are the Critical Driver Fuelling The Photoresist Electronic Chemical Market's Growth?
The photoresist electronic chemicals market is expected to flourish due to the expansion of the electronic industry. This industry, a significant player in the global economy, involves the design, production, and distribution of various electronic components, devices, and systems. Photoresist electronic chemicals are instrumental in this industry, mainly in manufacturing semiconductor devices and microelectronics. These chemicals are used to define accurate patterns on semiconductor wafers, creating maaks for ion implantation, and play a key part in the photolithography process. LG, a consumer electronics firm based in South Korea, recorded its highest annual revenue ever in January 2023, according to its 2022 annual financial report. Its sales topped $52.70 billion, marking a 12.9% increase from 2021. In 2022, the revenue of the LG Home Appliance & Air Solution Company rose by 10.3% from the previous year, hitting $22.5 billion. This growth in the electronic industry propels the photoresist electronic chemicals market. The photoresist electronic chemical market is also likely to grow due to the rising adoption of the Internet of Things (IoT). IoT is a counterpart system of interconnected computing devices and mechanical and electronic machinery with Unique Identities (UIDs), transferring data without human interaction or intervention. Specialized photoresist electronic chemicals are used in IoT for miniaturization, and they ensure layer-to-layer alignment and adhesion necessary for stacking IoT devices. In 2021, the IoT analytics' State of IoT—Spring 2022 report revealed that active endpoints in IoT numbered 12.2 billion, showing an 8% rise in the total number of IoT connections. The IoT industry is predicted to swell by 18%, resulting in 14.4 billion active connections in 2022. Therefore, the growing adoption of IoT is likely to stimulate the photoresist electronic chemical market.
How Is The Photoresist Electronic Chemical Market segmented?
The photoresist electronic chemical market covered in this report is segmented –
1) By Type: Positive, Negative
2) By Substrate: Silicon, Glass, Metal, Other Substrates
3) By Application: Semiconductor Manufacturing, Printed Circuit Boards (PCBs), Liquid Crystal Displays(LCD), Micro-Electro-Mechanical Systems (MEMS), Other Applications
4) By End User: Semiconductor Industry, Electronics Industry, Display Industry, MEMS Industry, Other Industries
Subsegments:
By Positive: Positive Photoresists For Semiconductor Manufacturing, Positive Photoresists For Printed Circuit Boards (Pcbs)
By Negative: Negative Photoresists For Semiconductor Manufacturing, Negative Photoresists For PCB And Microelectronics
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How Are Emerging Trends Reshaping The Dynamics Of The Photoresist Electronic Chemical Market?
Prominent players within the photoresist electronic chemicals market are pushing technology advancements related to dynamic random-access memory (DRAM) by joining forces with industry peers. This initiative is expected to enhance the performance of photoresist in this technology, hence refining the complete manufacturing operation. For instance, in October 2024, Lam Research Corp, a US firm producing wafer fabrication equipment, along with Entegris Inc, a supplier of electronic materials also from the US, joined hands with Gelest Inc to revolutionize semiconductor manufacturing. The alliance's focus is the creation of precursor chemicals for Lam's innovative dry photoresist technology, used in extreme ultraviolet (EUV) lithography. The primary concentration of this cooperation would be Research and Development related to the upcoming generation logic devices and DRAM, pivoting to innovation in the field of artificial intelligence and mobile technologies. Gelest Inc. is a US-based organization specializing in photoresist electronic chemicals.
Who Are the Key Players In The Photoresist Electronic Chemical Market?
Major companies operating in the photoresist electronic chemical market report are:
• BASF SE
• Honeywell International Inc.
• Merck KGaA
• Mitsui Chemicals Inc.
• Hitachi Chemicals Co. Ltd.
• The Dow Chemical Company
• LG Chem Ltd.
• Fujifilm Corporation
• Sumitomo Chemical Co. Ltd.
• Shin-Etsu Chemical Co. Ltd.
• E.I. DuPont
• Air Products And Chemicals Inc.
• Kolon Industries Inc.
• PhiChem Corporation
• Eternal Chemical Co. Ltd.
• JSR Corporation
• Tokyo Ohka Kogyo Co. Ltd.
• Electra Polymers Ltd.
• Ikonics Corp.
• Micro Resist Technology GmbH
• Photo Sciences Inc.
• Jiangsu Kuangshun Photosensitivity New-Material Stock Co. Ltd.
• DJ Microlaminates Inc.
• Allresist GmbH
• AZ Electronic Materials
• Hitech Photopolymere AG
• KemLab Inc.
• Kanto Chemical Co. Inc.
What Is The Most Dominant Region In The Photoresist Electronic Chemical Market?
North America was the largest region in the photoresist electronic chemical market in 2024. The regions covered in the photoresist electronic chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
