Photoresist & Photoresist Ancillaries Market Worth $4.5 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 29, 2020 /PRNewswire/ -- According to the new market research report "Photoresist & Photoresist Ancillaries Market by Application(Semiconductor & IC, LCD, PCB), Photoresist Type (ArF Immersion, ArF Dry Film, KrF, G-Line & I-line), Ancillaries Type(Anti-reflective coating, Remover, Developer),and Region-Global Forecast to 2024", published by MarketsandMarkets™, the Photoresist and Photoresist Ancillaries Market size is estimated to be USD 3.3 billion in 2019 and projected to reach USD 4.5 billion, by 2024, at a CAGR of 6.1%.

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The growing demand for wearable devices, smartphones, tablets, and other smart appliances is expected to boost the photoresist and photoresist ancillaries market. The major restraining factor in the photoresist market is that it is an expensive and time-consuming process. The process requires specialty equipment, which is expensive. The restraining factors associated with the particular market are limited consumption in the emerging economies and taxation policies linked to particular products.

"Anti-reflective coatings segment is the largest photoresist ancillaries in the overall photoresist and photoresist ancillaries market."

The market in the anti-reflective coatings segment is projected to register a CAGR of 5.9% between 2019 and 2024 due to its properties, such as the prevention of light spreading and high resolution. The demand for photoresist in APAC is increasing due to the improving standards of living and the increase in disposable income.

"I-line is projected to be the fastest-growing photoresist by type in the overall photoresist and photoresist ancillaries market."

The I-line segment is projected to register a CAGR of 7.4% between 2019 and 2024 due to its increasing application in the production of various types of sensors. The major end-use applications are automotive power semiconductors, sensors, and LCDs. The I-line segment will be driven by the growth of automotive power semiconductors and sensors during the forecast period.

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"Semiconductors & ICs segment in the application would witness the fastest growth in the overall photoresist and photoresist ancillaries market."

Semiconductors are the devices made from materials that conduct under specific conditions, and ICs are the smaller version of circuit boards consisting of thousands of small electronic components such as resistors, capacitors, and transistors. ICs are used in numerous electronic devices, including smartphones, mobile devices, PCs & laptops, tablets, and advanced gaming devices. The continuously increasing demand for the high component density of electronic devices has increased the demand for photoresist. The higher density of the device increases its multi-functionality and speed and reduces its surface area than the previous versions.

The key companies profiled in the Photoresist & Photoresist Ancillaries Market report are  Tokyo Ohka Kogyo Co., Ltd (Japan), JSR Corporation (Japan), DuPont (US), Shin-Etsu Chemical Co., Ltd (Japan), Fujifilm Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), ALLRESIST (Germany), Merck Group (Germany), Micro Resist Technology (Germany), and DJ MicroLaminates (US).

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Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting

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