Multinational companies boasting high production capacity are currently dominating the global photoresists and photoresist ancillaries market. As profit margins of a majority of companies in the market are susceptible to raw material price and supply fluctuations, enterprises with presence across value chain are expected to report stronghold.

Overall, the vendor landscape of the global photoresists and photoresist ancillaries market is highly concentrated with top three players holding over 62.4% of the market in 2013, finds Transparency Market Research (TMR) in a new study. Besides JSR Corporation and the Dow Chemical, Tokyo Ohka Kogyo Co., Ltd., holds percentage in this share.

TMR forecasts the global photoresists and photoresist ancillaries market to exhibit a CAGR of 6.2% between 2014 and 2020, to reach US$4.6 bn by the end of 2020. The market recorded a valuation of US$3.02 bn in 2014. Regionally, Asia Pacific held clear dominance with a share of 67.7% in the market in 2013. By application, the semiconductor and IC segment led the global market with a share of 58.3% in 2013.

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Growth Witnessed in Semiconductor Industry Accelerate the Use of Photoresists

“Growth witnessed in the global semiconductor industry will prove favorable for several ancillary markets, the photoresists and photoresist ancillaries market being one of them,” said a lead TMR analyst. Holding over 58% share, the segment also registered its dominance in the market in 2013. Currently, semiconductors are used for myriad applications such as to enable data processing and communication in laptops, servers, personal computers, and smartphones. Besides this, semiconductors are used across diverse industries such as consumer electronics, automotive, and industrial.

A majority of these industries are spurred by the rising disposable income of consumers. While this accelerates demand from the semiconductor industry, the same creates sales opportunities for enterprises in the photoresists and photoresist ancillaries as well.

TMR has covered various aspects poised to stimulate the photoresists and photoresist ancillaries market. According to the report, proliferating trend of deploying dynamic display technologies will fuel opportunities for the market’s expansion in the forthcoming years. TMR predicts the global flat panel display market to rise at a positive pace, thus in turn bolstering demand for photoresists and photoresist ancillaries.

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Possible Health and Environmental Hazards Related to Photoresists and Photoresist Ancillaries Curb their Use across Industries

Photoresists and photoresist ancillaries are solvent-based solutions that comprise stabilizers, electronic-grade solvents, surfactants, polymer resins, photosensitive chemicals, and cross-linking agents. These solvents are known to release volatile organic compounds (VOCs), which could have hazardous and carcinogenic effect on human health.

Furthermore, photoresists and photoresist ancillaries are used in photolithography processes, which creates a considerable amount of aqueous waste. Hence use of photoresists is often associated with occupational health hazards, which could inhibit the market’s growth to an extent.

Market Sees Opportunities in Development of NEMS

Nevertheless, the market sees significant opportunities in the upcoming nanoelectromechanical systems (NEMS). It is difficult to process photolithography at a nanoscale with currently available photoresists in the market. Institutes such as the Institute of Electrical and Electronics Engineers (IEEE) are looking to developed advanced immersion photoresists to simply the process and reduce the overall cost incurred on the same. Advances in electronics and nanotechnology will thus fuel the development of three dimensional NEMS. This will fuel opportunities for the global photoresists and photoresist ancillaries market.

The report segments the global photoresists and photoresist ancillaries market into:

Photoresists Market - Product Segment Analysis
g-line and i-line
KrF
ArF dry
ArF immersion
Photoresist Ancillaries Market - Product Segment Analysis
Antireflective coatings
Photoresist developers
Edge bead removers
Others (Including primers or adhesion promoters and specialty solvents)
Photoresists and Photoresist Ancillaries Market - Application Analysis
Semiconductors and integrated circuits (ICs)
Printed circuit boards (PCB)
Others (Including MEMS, NEMS, sensors etc.)