Liquid Photoresist Market Size, Share, Growth, and Industry Growth by Type (Positive Photoresist and Negative Photoresist) By Application (Semiconductors & ICS, LCDs, Printed Circuit Boards and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Liquid Photoresist Market REPORT OVERVIEW

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The global liquid photoresist market size is expected to be USD 2465.2 million in 2021 and market is projected to touch USD 4049.34 million by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% during the forecast period.

A material that is light-sensitive called photoresist is utilized in photolithography and photoengraving processes. It protects electronic equipment from harmful UV radiation. It is used in the production of printed circuit boards, microelectromechanical systems (MEMS), flat-panel liquid crystal displays, magnetic recording heads, and printing plates (PCBs). Contrarily, photoresist ancillaries are products that help the photolithography or photoengraving process be more effective and precise. Growing application in advanced semiconductors, ICs, PCBs, LCD displays, and other technology will augment the liquid photoresist market share in the forthcoming years.

COVID-19 Impact: Disrupted Supply Chains to Threaten the Market Trends

The ongoing COVID-19 pandemic had a detrimental effect on the photoresist market as well as the manufacturing of electrical and electronic products. The second wave of COVID-19 also caused losses in the photoresist sector in the first few months of 2021, although the market was not as adversely hit as it was in 2020. However, it is anticipated that the impact of COVID-19 would diminish by mid-2022, restoring the market's situation to pre-COVID-19 pandemic. In addition, it will lead to an increase in photoresist-related production, strengthening the liquid photoresist market outlook during the forecast period.

LATEST TRENDS

"Frequent Use of in Different Sectors to Push the Market Growth"

The International Trade Association estimates that the U.S. semiconductor sector produced USD 166 billion in global sales. The U.S. has several of the top export industries, including the semiconductor and circuit manufacturing industry. Over 250,000 Americans have indirect employment in the semiconductor business, according to the Semiconductor Industry Association (SIA). Thus, the market for photoresists is projected to be driven by the semiconductor industry's fast expansion and the ongoing desire for increased component density in electronic devices. Growing semiconductor industry across North America and Asia Pacific will positively influence the liquid photoresist market outlook in the future

Liquid Photoresist Market Segmentation

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• By Type Analysis

By type, market is segmented into positive photoresist and negative photoresist. The positive photoresist segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into control and guide rivers and floods, protect channels and river beds, road protection and other. The control and guide rivers and floods segment will lead the global share through 2031.

DRIVING FACTORS

"Increased Demand and Utilization to Drive the Market Forward "

Since photoresist is primarily utilised in the production of consumer electronics, the market for it is expected to expand quickly. The market is anticipated to grow as a result of the expanding requirement for dynamic display technologies, the high demand for electronic goods in emerging nations, and the rising need for display technology. Additionally, the market is anticipated to rise as a result of higher demand brought on by enhanced semiconductor manufacturing and the increased need for micro-electronics globally.

"Increasing Demand for Automobiles to Push the Market Growth"

The liquid photoresist market, which employs photoresist materials for in-vehicle applications such display panels, will be driven by the automotive sector. Increased in-vehicle applications would be required as a result of increased automotive production, driving the photoresist industry ahead throughout the forecast period. The population is expanding, and smartphones are becoming more widely used, which will further accelerate the market's growth pace. Additionally, it is anticipated that increased consumer electronics demand, accelerated shipments of silicon wafers, and the expanding popularity of wearable technology would support market expansion.

RESTRAINING FACTORS

"Volatile Cost of Oil and Gas to Lower the Market Demand"

The price of oil and gas is directly linked to the photoresist chemicals since they are produced from petrochemicals. As a result, fluctuating crude oil and gas prices are anticipated to restrain market expansion. Therefore, throughout the anticipated period, this aspect will pose a challenge to the growth rate of the photoresist market. These factors could limit the global liquid photoresist market growth to some extent in the coming years.

Liquid Photoresist Market REGIONAL INSIGHTS

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"Asia Pacific to Hold Dominant Share owing to Growing Per Capita Income "

In terms of market share and revenue, Asia Pacific leads the liquid photoresist market share, and dominance will continue to dominate the industry over the course of the projected period. The rising per capita income of the population is responsible for the market expansion in this region. Additionally, the electronics industries in China, South Korea, India, and Japan have all seen rapid expansion, significantly assisting market growth.

North America, on the other hand, is anticipated to have profitable growth throughout the projection period as a result of the region's growing demand for consumer electronics and the widespread use of smartphones. The growth of the electrical and electronics sectors in the US was a significant contributor to the rise of regional market demand.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio

List of market player profiled

• DuPont
• Fujifilm Electronic Materials
• Tokyo Ohka Kogyo
• Merck Group
• JSR Corporation
• LG Chem
• Shin-Etsu Chemical
• Sumitomo
• Chimei
• Daxin
• Everlight Chemical
• Dongjin Semichem
• Great Eastern Resins Industrial
• Chang Chun Group