Dry Film Photoresist Market Report Overview
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The global dry film photoresist market size is expected to be USD 893.1 million in 2022 and is projected to touch USD 1249.67 million by 2031, at a CAGR of 5.3% during the forecast period.
The dry film photoresist is a photosensitive substance used to create an outlined surface in a variety of processes like photolithography and photoengraving. In the electronics sector, this procedure is extremely important. A printed circuit board is a good idea since it supports the circuit mechanically and electrically connects it to the parts. Typically, components are soldered into the PCB using the photoengraving method. Coating the substrate with a photosensitive organic substance is the first step in the photo resisting process. All types of electronics, both simple and complicated, utilize these circuits.
Dry film photoresist is a significant component used in the process of image transfer. It is widely adopted in various industries such as Lead Frame, IC Substrate, Chemical milling, IC packaging, Printed Circuit Board, and others. The dry film photoresist market growth is associated with the downstream demand for the product. The market is rapidly adopting nanotechnology, expected to contribute to the steady adoption of NEMS and MEMS devices. The NEMS stands for nanoelectromechanical systems, which is a device used in integrating the mechanical and electrical functionality on a nanoscale. MEMS stands for micro-electrochemical systems. It is a process technology used for creating tiny integrated systems or devices that combine electrical and mechanical components.
COVID-19 Impact: Stoppage of Operations Affected the Growth Rate
The global COVID-19 pandemic has been unprecedented and staggering, with dry film photoresist market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the dry film photoresist market growth and demand returning to pre-pandemic levels once the pandemic is over.
The stoppage of industrial operations during the pandemic, including those in the automobile and other sectors, had a significant negative impact on the semiconductor sector. The electronics and semiconductor industries were severely impacted at the same time by diminishing consumer electronics product and device demand and the decline in global per capita spending. The supply chain's interruption also caused the gap between supply and demand to expand, which raised the price of raw materials. Furthermore, a sharp decline in export growth is anticipated. The companies and industries are able to stop the spread and restore normalcy promptly. Recovery is expected for the second half of the year. The market is further recovering from the losses caused by the pandemic.
LATEST TRENDS
"Rising Adoption of Products in the Electronics Industry to Foster Growth"
The demand for the product is consistently rising due to the higher demand from the electronic industry. The use of the product in various appliances is likely to foster dry film photoresist market growth. The rising demand for electronics worldwide is creating opportunities for the market. Moreover, the steady adoption of photolithography in the electronics industry allows the complex wirings, which is projected to aid dry film photoresist market growth in the forecasted period.
Dry Film Photoresist Market Segmentation
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- By Type Analysis
By type, the market is segmented into positive and negative.
- By Application Analysis
Based on application, the market is classified into PCB, MPU packaging, COF/TAB, FPC, and others.
DRIVING FACTORS
"Acceptance of Nanotechnology to Swift Growth"
The market is rapidly adopting the dry film photoresist in various industries. The move toward MEMS and NEMS devices has been facilitated by the enormous market acceptance of nanotechnology. The use of Nano devices is expanding globally as a result of their smaller size, lighter weight, less power-intensive design, and reduced manufacturing costs. With numerous technical developments, the commercialization of such devices has increased the market potential for photoresist and photoresist accessories. For instance, Intel is quickly transitioning from 28nm to new technology based on 20nm. This is anticipated to increase demand in the semiconductor sector for photoresists and related products.
"Advancements in Material Technology to Boost Growth "
The steady adoption of advanced technology is surging growth in the market. The new technology finds various applications such as 3D structures, magnetics, insulators, metals, and magnetic materials. The product is also used in the manufacturing process of electronic or semiconductor devices. The market is shifting toward bio-NEMS and MEMS from MEMS. This factor is likely to regulate the improvisation of technologically advanced materials to pattern using photoresist ancillaries and photoresists. These factors are projected to aid growth in the global market.
RESTRAINING FACTORS
"Higher Generation of E-Waste to Limit Market Growth"
The increasing rate of e-waste generation is anticipated to restrain market expansion for dry film photoresists. The adoption of innovation in technology will lead to a decline in demand for goods that are previously manufactured, which is expected to result in the creation of additional e-waste. These factors are likely to halt the growth of the market. The generation of higher e-waste is creating awareness about the environment among the population, which is forecasted to affect the growth of the market.
Dry Film Photoresist Market Regional Insights
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"Asia Pacific to Dominate the Market Owing To the Strong Presence of Manufacturing Industries"
Asia Pacific is projected to hold the major contribution in dry film photoresist market share owing to the presence of the largest manufacturing industries in Taiwan and China. Additionally, the rising demand from Asian countries such as South Korea, Japan, and India is likely to elevate the regional market.
North America is also anticipated to hold a significant growth in the dry film photoresist market share due to the steady advancements in the electronics sector coupled with technological advancements.
Europe is forecasted to show sizable growth owing to the rising product demand from Germany. Italy, and France.
KEY INDUSTRY PLAYERS
"Companies to Emphasize On Long-Term Growth Strategies"
The market is fragmented into various sized industries, including regional and global industries. The market revenues and shares are likely to be driven by the constant investment on research and development of the product. Technological advancements are being adopted to gain steady growth in the market. The companies are focused on gaining mergers and acquisitions to enhance the product portfolio. Many companies also launched new products to gain the regional market share. Gaining a regional market will help the players in further gain the global market. Organic and inorganic growth strategies are adopted by the major companies to gain long-term growth.
List of Market Players Profiled
- Asahi Kasei (Japan)
- Eternal Materials (China)
- Hitachi Chemical (Japan)
- DuPont (U.S.)
- Chang Chun Group (China)
- Kolon Industries (South Korea)
INDUSTRY DEVELOPMENT
- February 2020- DuPont launched new products to the Riston and Pyralux brands to address the various demands from advanced electronics manufacturers. The products include photo resistance of dry film for multi-layering and pattern plating on the boards.
REPORT COVERAGE
The report offers a comprehensive overview of the market, which includes various factors such as growth rate, COVID-19 impact, market drivers, and other such factors. The qualitative and quantitative insights of the market are represented in the report. The report also offers an elaborative analysis of the market and factors expected to surge or retard the growth of the market. Various market insights are covered in the report. Porter’s five force analysis and SWOT analysis are completed to gain market insights. The report also represents the information about the key market players. The trends driving growth in the industry are also shown in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 893.1 Million in 2022 |
Market Size Value By |
US$ 1249.67 Million by 2031 |
Growth Rate |
CAGR of 5.3% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the dry film photoresist market expected to touch by 2031?
Based on our research, the dry film photoresist market is projected to touch USD 1249.67 million by 2031.
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What CAGR is the dry film photoresist market expected to exhibit by 2031?
The dry film photoresist market is expected to exhibit a CAGR of 3.4% by 2031.
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What are the segments of the dry film photoresist market?
By type, the dry film photoresist market is segmented into positive and negative. Based on application, the dry film photoresist market is classified into PCB, MPU packaging, COF/TAB, FPC, and others.
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Which are the driving factors of the dry film photoresist market?
Acceptance of nanotechnology to swift growth and advancements in material technology to boost growth are the factors driving the dry film photoresist market.
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Which are the top companies operating in the dry film photoresist market?
Asahi Kasei, Eternal Materials, Hitachi Chemical, DuPont, Chang Chun Group, and Kolon Industries are the top companies operating in the dry film photoresist market.