Photoresist Process Chemicals Market to Garner US$ 5,495.02 million by 2028

The market was valued at US$ 3,665.31 million in 2019 and is projected to reach US$ 5,495.02 million by 2028; it is expected to grow at a CAGR of 4.8% from 2020 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The scope of our recent study on the “Photoresist Process Chemicals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Product Type (Solvents, Binders, Sensitizer, Others); Application (Microelectronics, Printed Circuit Boards, Others)”, includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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Photoresist chemicals are utilized in the manufacturing of µm-and sub-µm structures, noticeably in the microelectronics industry. The chemicals are claimed to fame compound that changes its synthetic construction when presented to bright (UV) light, this novel property makes them ideal for photolithography and photoengraving measures, which thus are generally utilized in semiconductor fabricating industry. Photoresist process chemicals comprise solvents, developers, remover, stripper, and etching mixtures and are considered as a fundamental part for making high-performance circuit boards and semiconductor chips.

Tokyo Ohka Kogyo Co., Ltd.; Tokuyama Corporation; Dupont; Integrated Micro Materials; Allresist Gmbh; Microchemicals Gmbh; Dischem Inc; Enf Technology Co., Ltd.; Sumitomo Chemical Co., Ltd; and Prolyx Microelectronics Private Limited are among the major players operating in the global photoresist process chemicals market.

Based on application, the global photoresist chemicals market is segmented into microelectronics, printed circuit boards, and others. In 2019, microelectronics segment accounted for the largest share of the market. The microelectronics devices consists of micro semiconductor devices, transistors, capacitors, resistors, and active chip. They are widely used in consumer electronics appliances such as smartphones, music players, and household appliances as well as in other industrial processes. Microelectronic components need protection from the environment, also both electrical and mechanical connections to the surrounding components. Photoresist solvent, sensitizers, polymers, and other chemicals are used for this purpose. Growing applications in medical, automotive, and electronic industries has raised the demand for microelectronic components, which supports the growth of photoresist process chemicals market. 

The global hydrogen storage alloys market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). APAC is expected to be the fastest-growing market for photoresist process chemicals in the coming years. Asia-pacific is the largest continent in the world and is known for its expanded market of chemical products.  The region has been noticed as one of the prominent markets for the utilization of photoresist and photoresist ancillaries; thus, it offers lucrative opportunities for the market growth. China is dominating the regional market, followed by Japan, Taiwan, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are experiencing rising demand from the semiconductors and ICs, LCDs, printed circuit boards, and other manufacturers. Photoresist process chemicals are extensively utilized in the manufacturing of photoresist that are further used in wearable devices, smartphones, and other electronic devices. Owing to the shift in consumer living standards, the demand for smartphones and wearable devices has increased subsequently with the growth of the electronics industry. This shift has propelled the growth of the photoresist process chemicals market in the region.

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The report includes the segmentation of the global Photoresist Process Chemicals market as follows:

Photoresist Process Chemicals Market, by Product Type

  • Solvents
  • Binders
  • Sensitizer
  • Others

Photoresist Process Chemicals Market, by Application

  • Microelectronics
  • Printed Circuit Boards
  • Others


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