Ocean View, DE -- (SBWire) -- 06/15/2020 --Global Photoresist and Photoresist Ancillaries Market size was estimated at USD 3.5 billion in 2016 and is projected to surpass USD 6 Billion by the year 2024.
Prolific growth of the semiconductor industry and proliferation of microfabrication are likely to bring about a revolution in the demand for photoresist and photoresist ancillaries over the foreseeable time frame.
Photoresist ancillaries have emerged as an important material utilized in various processes say for example, photo graving, while also primarily being used in the manufacturing of consumer electronic goods.
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As the globe continues to be characterized by the advent of highly upgraded technologies, such as advanced display systems and more, photoresist and photoresist ancillaries market is observing an all new commercialization growth. From cathode ray tubes to light emitting diodes, photoresist ancillaries are proliferating globally as they augment the efficacy of photolithography, a process of high importance in electronics sector.
A Global Market Insights, Inc., report predicts that the overall photoresist and photoresist ancillaries market is slated to carve a lucrative growth map in the years ahead, with a target revenue estimation of USD 6 billion by 2024 end.
Photoresist and photoresist ancillaries | Applications across the semiconductor sector
The demand for smart phones, globally, is accelerating at an exceptional pace, and in this aspect, it comes as no surprise that these devices have held a major business chunk in the global photoresist and photoresist ancillaries market.
Smart phones and electronic gadgets form a pivotal part of the global technological landscape. These devices constitute of an integrated circuit, which undergoes photolithography to finally be realized as a silicon chip. The photolithography process is extensively used in microfabrication to transfer geometric patterns to a substate or a film. It also involves the application of photoresist layers.
There are apparently two kinds of photoresists used in the process, positive and negative. However, when patterning of wafers in manufacturing is to be dealt with, photolithography makes use of positive photoresists owing to their excellent resolution.
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Growing demand for smart phones has been positively influencing the overall semiconductor industry dynamics over the years. Moreover, a major percentage of the global demand for photoresists and photoresists ancillaries is taken up in semiconductors industry. According to Ministry of Electronics and Information Technology, semiconductor demands have reached over USD 10 billion in India. This phenomenal growth is rendering a positive impact on photoresist ancillaries demand not just across the Indian sub-continent, but across most countries worldwide.
Unveiling industry trends across the Asia Pacific
The demand for photoresists and photoresist ancillaries has witnessed commendable surge across Asia Pacific belt. This can be credited to expanding electronics and communication industry across the region. In fact, according to IBEF statistics, the Indian electronics products demand is estimated to depict a CAGR of 41 per cent over 2017-2020, while exceeding a mammoth of USD 400 billion by the end of this year.
Asia Pacific is also blessed with the presence of one of the top leaders of semiconductor materials, Shin Etsu Chemical Co. The company has set its root in Japan and is commercializing the sales of photoresists and photoresist ancillaries globally. In a recent news, Shin Etsu has announced marketing newly developed materials for MicroLEDs to enhance the productivity of MicroLED displays and systems.
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