PHOTORESIST CLEANERS MARKET REPORT OVERVIEW
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global photoresist cleaners market size was USD 961.2 million in 2022 and market is projected to touch USD 4370.6 million in 2031 at CAGR 18.3% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with photoresist cleaners experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Photoresist cleaners are considered an essential component for making high-performance semiconductor chips and circuit boards. The process chemicals comprise developers, solvents, etching mixture, and remover stripper.
Growing penetrations of loT across the worldwide and rising demand for dynamic display technology are anticipated to accelerate market growth. Steady demand for microelectronics among consumers are estimated to fuel market progress. Increase in demand for electronic items in developing countries is coupled with the extensive adoption of the wearable devices, smartphones, and other electronic devices. These factors are anticipated to surge market growth. Increased consciousness among consumers about advanced technology and shift in consumer living standards are projected to drive market growth in the upcoming years. However, high manufacturing cost of the product and lack of awareness are anticipated to hamper photoresist cleaners market growth.
"COVID-19 Impact: Travel Ban and Lockdown Restrictions to Hamper Market Growth "
COVID-19 pandemic affected industries and economies in numerous countries due to shutdown of business, lockdown, and travel bans. Lack of collaboration and partnership among prominent market players hinders market growth. Shutdown of end-user industries minimized market growth during the pandemic period.
LATEST TRENDS
"Growing Demand for Wafer Processing to Incite Market Growth"
In the wafer process the integrated circuit formed on and in the wafer. It takes place in a clean room and include several steps such as thermal oxidation or deposition, etching, masking, dielectric disposition and metallization, etching, passivation, electrical test, and assembly. These steps are anticipated to surge market growth in the coming years. Further, the process makes the water surface thinner, more flexible, and more reliable. Also, it offers wafer’s surface stress-free and saves the wafers from breakage. It averts warping and makes water dicing-ready. The process is ideal for electronic devices and producing flexible circuits. These advantages of wafer processing and high demand for the procedure are anticipated to surge photoresist cleaners market growth in the upcoming years.
PHOTORESIST CLEANERS MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into positive photoresist (PR) strippers and negative photoresist (PR) strippers.
Positive photoresist (PR) strippers are expected to be the leading part of the segmentation type.
- By Application
Based on the application, the market is divided into wafer processing and LCD/OLED.
Wafer processing is expected to be the leading part of application segmentation.
DRIVING FACTORS
"High Demand for Printed Circuit Boards to Foster Market Growth"
Increasing need for printed circuit boards extensively uses photoresists which are estimated to propel market growth. It allows complex wiring in an electronic system to perform effectively. The process offers economical and accurately reproduced as if run off a printing press. Further, the process is applied to expose the image to ultraviolet rays and helps to remove the copper-clad substrate. Such advantages of the equipment are projected to drive market growth in the upcoming years. Increased consciousness among consumers about advanced technology and shift in consumer living standards are projected to drive photoresist cleaners market growth in the forthcoming years.
"Growth of Semiconductor Industry to Stimulate Market Growth "
Increasing demand for semiconductor sectors across several industries is estimated to surge market growth. Massive demand for regular and advanced consumer electronics devices among consumers is anticipated to accelerate market growth. ICs (integrated circuit) are present in several electronic devices such as washing machine, smart phones, TVs, and refrigerators. Such broad demand for semiconductor accelerate photoresist cleaner’s adoption. Increases in demand for medical electronics such as rapid diagnostic and rising demand for dynamic display technology, are anticipated to accelerate market growth. Further, the deployment of 5G technology and an increase in penetration of internet of things (lot) and connected devices are estimated to surge photoresist cleaners market growth in the upcoming years.
RESTRAINING FACTORS
High manufacturing cost of the product and lack of awareness are anticipated to hamper market growth in the forecast period.
PHOTORESIST CLEANERS MARKET REGIONAL INSIGHTS
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"Shift in Consumer Living Standards in Asia Pacific to Drive Market Share "
North America is anticipated to hold largest photoresist cleaners market share owing to the shift in consumer living standards. Growing penetrations of loT across the worldwide and rising demand for dynamic display technology are anticipated to accelerate market growth. Steady demand for microelectronics among consumers is estimated to fuel market progress. Increase in demand for electronic items in developing countries coupled with the extensively adoption of wearable devices, smartphones, and other electronic devices. These factors are anticipated to surge market growth in the region.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Dongjin Semichem (South Korea)
- DuPont (U.S.)
- Merck KGaA (Versum Materials) (U.S.)
- ENF Tech (South Korea)
- Tokyo Ohka Kogyo (Japan)
- Nagase Chemtex Corporation (Japan)
- LG Chem (South Korea)
- Entegris (U.S.)
- Sanfu Chemical (Taiwan)
- LTC (India)
- Fujifilm (Japan)
- Mitsubishi Gas Chemical (Japan)
- Jiangyin Jianghua (China)
- Technic Inc. (U.S.)
- Anji Micro (China)
- Solexir (U.S.)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 961.2 Million in 2022 |
Market Size Value By |
US$ 4370.6 Million by 2031 |
Growth Rate |
CAGR of 18.3% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the photoresist cleaners market expected to touch by 2031?
The photoresist cleaners market is expected to reach USD 4370.6 million by 2031.
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What CAGR is the photoresist cleaners market expected to exhibit by 2031?
The photoresist cleaners market is expected to exhibit a CAGR of 18.3% by 2031.
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Which are the driving factors of the photoresist cleaners market?
Drivers of this photoresist cleaners market are high demand for printed circuit boards and growth of semiconductor industry.
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Which are the top companies operating in the photoresist cleaners market?
Dongjin Semichem, DuPont, Merck KGaA (Versum Materials), ENF Tech, Tokyo Ohka Kogyo, Nagase Chemtex Corporation, LG Chem, Entegris, Sanfu Chemical, LTC, Fujifilm, Mitsubishi Gas Chemical, Jiangyin Jianghua, Technic Inc, Anji Micro, and Solexir are the top companies of photoresist cleaners market.