The scope of our recent study on the “Photoresist Process Chemicals Market Forecast t2028 – 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.
The market was valued at US$ 3,665.31 million in 2019 and is projected treach US$ 5,495.02 million by 2028; it is expected tgrow at a CAGR of 4.8% from 2020 t2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market. Photoresist chemicals are utilized in the manufacturing of µm-and sub-µm structures, noticeably in the microelectronics industry. The chemicals are claimed tfame compound that changes its synthetic construction when presented tbright (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.
Based on application, the global photoresist chemicals market is segmented intmicroelectronics, printed circuit boards, and others. In 2019, microelectronics segment accounted for the largest share of the market. The microelectronics devices consists of micrsemiconductor 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, alsboth electrical and mechanical connections tthe 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 intfive main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). APAC is expected tbe 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 tthe 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.
Impact of COVID-19 Pandemic on Photoresist Process Chemicals Market
The COVID-19 pandemic is adversely affecting economies and industries in various countries due tgovernment-imposed lockdowns, travel bans, and business shutdowns. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related tthis industry.
The report includes the segmentation of the global Photoresist Process Chemicals market as follows:
Photoresist Process Chemicals Market, by Product Type
Photoresist Process Chemicals Market, by Application
- Printed Circuit Boards
Photoresist Process Chemicals Market, by Geography
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East &Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America