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(MoneyNewsWire.Net, June 03, 2018 ) The global photoresist including photoresist ancillaries market is projected to reach USD 4.15 Billion by 2022, at a CAGR of 5.5% from 2017 to 2022. A photoresist is a light-sensitive material, which is applied to a substrate during photolithography or photoengraving to enable the desired pattern to be imaged. A properly exposed and developed photoresist masks portions of the substrate with high precision. Photoresist ancillaries are supporting materials used to improve the efficiency and resolution of the photolithography process. Photoresist is used in semiconductors & ICs, LCDs, printed circuit boards, and others application. This growth of these applications is driving the photoresist market globally.
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The semiconductors & ICs application segment accounted for the largest share of the global photoresist market in 2016. This segment is expected to continue its dominance during the forecast period. Photoresist is used in the semiconductors industry to imprint the desired circuitry and obtain ICs as the end product.
Based on type, the ArF immersion segment of the photoresist market is projected to grow at the highest CAGR from 2017 to 2022. ArF immersion exhibit superior properties, including narrow wavelength, low defects, and high resolution over other types. ArF immersion provides improved critical dimension uniformity and prevent the need for strong resolution enhancement techniques. These properties are expected to drive the ArF immersion segment during the forecast period.
The growth of the semiconductors & ICs application segment has led to an increase in the demand for photoresist. The Asia-Pacific region accounted for the largest share of the global photoresist market in 2016. Taiwan is estimated to account for the largest share of the Asia-Pacific photoresist market in 2017; however, this market in China is anticipated to grow at the highest CAGR during the forecast period.
The major factor restraining the growth of the photoresist market is limited consumption of photoresist, and taxation policies in emerging economies. For example, operating costs associated with manufacturing, along with intense competition from rapidly growing economies is contributing to low consumption of the photoresist in emerging regions. This further is acting as a restraint to the growth of the photoresist market.
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Companies have adopted strategies, such as new product developments, expansions, and mergers & acquisitions to enhance their market shares and widen their distribution networks in the global photoresist market. These companies engage in research & development activities to innovate and develop products that can open new avenues of applications. For example, in May 2017, ALLRESIST GmbH (Germany) launched positive photoresist under the brand name Phoenix 81 to be used in applications with the NanoFrazor of SwissLitho AG. In July 2013, Sumitomo Chemical Co, Ltd. (Japan) launched the DyBright series of color photoresist, which contains dyes and improves the brightness of color filters.
Similarly, in September 2015, Fujifilm Electronics Materials Co., Ltd. (Japan) acquired Ultra-Pure Solutions, Inc. (U.S.), manufacturer of high purity solvent used in semiconductor-related manufacturing processes. Through this acquisition, the company has strengthened its position in the semiconductor and photoresist segments.
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