Photoresist Electronic Chemical Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Photoresist Electronic Chemical Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Photoresist Electronic Chemical Global Market Report 2024, The photoresist electronic chemical market size has grown strongly in recent years. It will grow from $10.18 billion in 2023 to $11.14 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to semiconductor industry growth, advancements in microelectronics, increasing demand for consumer electronics, globalization of electronics manufacturing, integration of advanced materials.

The photoresist electronic chemical market size is expected to see strong growth in the next few years. It will grow to $15.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to internet of things (iot) expansion, artificial intelligence (ai) and machine learning integration, electric vehicle (ev) revolution, focus on environmental sustainability, supply chain resilience. Major trends in the forecast period include miniaturization demand, emergence of advanced semiconductor technologies, green and sustainable practices, rise in iot devices, shift to 3d ic integration..

The growing electronic industry is expected to propel the growth of the photoresist electronic chemicals market going forward. The electronic industry refers to a broad and dynamic sector of the global economy that encompasses the design, development, manufacturing, and distribution of electronic components, devices, and systems. Photoresist electronic chemicals play a crucial role in the electronic industry, particularly in the fabrication of semiconductor devices and microelectronics to define precise patterns on semiconductor wafers, to create masks for ion implantation processes, and in the photolithography process. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, LG earned its highest annual revenue ever, an increase of 12.9% from 2021, when sales for the first time above $52.70 billion. The revenue for the LG Home Appliance & Air Solution Company in 2022 was $22.5 billion, an increase of 10.3% from the previous year. Therefore, the growing electronic industry drives the photoresist electronic chemicals market.

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The photoresist electronic chemical market covered in this report is segmented –

1) By Type: Positive, Negative

2) By Substrate: Silicon, Glass, Metal, Other Substrates

3) By Application: Semiconductor Manufacturing, Printed Circuit Boards (PCBs), Liquid Crystal Displays(LCD), Micro-Electro-Mechanical Systems (MEMS), Other Applications

4) By End User: Semiconductor Industry, Electronics Industry, Display Industry, MEMS Industry, Other Industries

Major companies operating in the photoresist electronic chemicals market are focusing on developing innovative green solvent AZ 910 remover variants to provide reliable services to their customers. AZ 910 remover is a specialized solvent used for the purpose of photoresist removal in the semiconductor industry with enhanced stripping performance, reduced chemical waste, customized formulations, and a focus on improving their performance, safety, and environmental impact. For instance, in July 2021, Merck KGaA, a Germany-based science and technology company launched a green solvent AZ 901 remover. The AZ 910 remover can remove the resist with less than three times the solvent volume, saving customers money and reducing the environmental footprint of materials entering the global waste stream.

The photoresist electronic chemical market report table of contents includes: