Market Overview:

The Global Negative Photoresist Chemicals Market Size Was Valued At USD 4.51 Billion In 2022 And Is Projected To Reach USD 6.95 Billion By 2030, Growing At A CAGR Of 6.39% From 2022 To 2030.

Photoresist is a substance that reacts to light and is used in photolithography and photoengraving. It protects electronics from UV rays that can damage them. It is used to make magnetic recording heads, printing plates, flat-panel LCDs, microelectromechanical systems (MEMS), and printed circuit boards (PCBs). On the other hand, photoresist ancillaries are things that help the photolithography or photoengraving process work better and get a better picture.

Materials that change their shape when exposed to ultraviolet (UV) light are called photoresist chemicals. They are used to make coatings on surfaces in a wide range of industrial processes. In the electronics industry, they are used to make semiconductors. The sales of photoresist chemicals are being driven by the demand for high-performance circuit boards and semiconductor chips. This, in turn, is expected to help the growth of the market for negative photoresist chemicals. Positive and chemical are the two types of photoresist chemicals. Negative photoresists offer more flexibility in the way they are used, faster picture speeds, and much lower operating costs. Negative photoresists also stick better to some substrate materials, which can make them a better choice than positive ones in some situations.

Since crude oil is the main ingredient in negative photoresist, the price could go up if the price of crude oil goes up. Negative photoresist chemicals aren't selling as well because more people are worried about the environment. This has made it even more important for leading companies in the market for negative photoresist chemistry to use new technologies to make bio-based or organic versions.

Market Dynamics:

Market Trends:

• Increasing Demand in Semiconductor and Electronics Industries

The market for negative photoresist has grown because there is more demand for semiconductors and other electronic parts. These parts are used in many places, like smartphones, car electronics, Internet of Things (IoT) devices, and data centers. As these industries continue to grow, the need for negative photoresist materials, which are used to make things in these industries, is likely to rise.

• Environmental and Regulatory Considerations

The market for negative photoresist has grown because there is more demand for semiconductors and other electronic parts. These parts are used in many places, like smartphones, car electronics, Internet of Things (IoT) devices, and data centers. As these industries continue to grow, the need for negative photoresist materials, which are used to make things in these industries, is likely to rise.

Driving Factors:

• High Utilization and Demand

Photoresist is mostly used to make consumer electronics, so the market for it is expected to grow quickly. The market is likely to grow because electronics are becoming more popular in developing countries, display technology is in high demand, and the need for dynamic display technologies is growing. Also, the growth of the market is likely to be helped by the fact that semiconductor production is getting better and that the world needs more microelectronics.

• Surging Demand for Automobiles

The auto industry will be the main driver of the photoresist market. Photoresist materials are used in cars for things like display panels. According to the OICA, South Africa made 3,21,097 passenger cars in 2018 and 3,42,665 in 2019, which is an increase of 8.6% over 2018. Also, the OICA says that Malaysia made 5,20,526 passenger cars in 2018 and 5,34,115 in 2019, which is a 2.6% increase over 2018. As a result, more applications would need to be made for use inside cars, which would push the photoresist market forward over the projection period.

The growth rate of the photoresist market will be boosted even more by the growing number of people and the growing use of smartphones. The growth of the market is also expected to be helped by the faster shipping of silicon wafers, the growing demand for consumer electronics, and the rising popularity of wearable devices.

• Rapid Growth of the Semiconductor Industry

The electronic and electrical industry will drive the market for photoresist. This is because people around the world have more money to spend on goods made by these industries because their incomes are rising. Compact electronic devices are used in many fields, such as telecommunications, automobiles, industrial manufacturing, and healthcare. Because of this, there has been more research and development in the field of semiconductors, and there has been more progress in technology. Japan Electronics and Information Technology Industrial Association (JEITA) says that the number of discrete semiconductors made in 2020 was 1.1% higher than in 2019. According to the European Semiconductor Industry Association (ESIA), the European semiconductor industry made US$3.8 billion in revenue in May 2021, which was 31.2% more than in May 2020. The photoresist market is growing because the number of semiconductors being made is going up. So, it is expected that the growth of the semiconductor industry will lead to the growth of the photoresist market over the next few years.

Restraints/Challenges:

• Higher Manufacturing Cost

The high cost of materials is the biggest problem for the growth of the photoresist market. The cost changes based on the layout and how well the edges are placed. Photoresist is also more expensive because it uses a lot of different technologies and is hard to work with. Also, the higher tax rates in some of the countries make photoresist more expensive. The Ministry of Electronics and Information Technology says that 18% GST applies to all electric products, including photoresist.

• Stringent Environmental Regulations

Because photoresist chemicals are dangerous, there are a lot of rules about how they can be sold. There are strict rules about how photoresist chemicals can be made, used, and thrown away to protect the environment. This is one of the biggest things that keeps the photoresist chemicals market from growing.

• Volatile Nature of Photoresist Chemicals

Photoresist chemicals are very volatile and easy to start a fire with. This makes them hard to handle and makes accidents more likely. This is another thing that makes it hard for the market for photoresist chemicals to grow.

• Limited Applications

At the moment, there aren't many ways to use photoresist chemicals. Most of the time, they are used in the semiconductor industry to make integrated circuits. But as technology gets better, people are finding new ways to use these chemicals. This is likely to make the market grow faster in the years to come.

Opportunities:

• Expansion of Display and Optoelectronics Industries

There is a lot of growth in the display industry, which includes technologies like LCD, OLED, and MicroLED. This is because more people are buying TVs, smartphones, wearable devices, and cars with displays. For patterning and making these display technologies, negative photoresist materials are very important. Also, the optoelectronics industry, which includes LED lighting and photovoltaic (PV) cells, gives the negative photoresist market a chance to provide special materials for these uses.

• Increasing Focus on Environmental Sustainability

With more people worried about how chemicals affect the environment, there is a growing need for photoresist materials that are safe for the environment. Creating negative photoresists that are safe for people and the environment can give a business an edge on the market. Companies that can offer solutions that are both sustainable and keep up with performance standards are likely to find growth opportunities.

• Emerging Markets and Geographic Expansion

In places like India, Southeast Asia, and Latin America, where the demand for electronics and semiconductors is growing, the negative photoresist market could look for new opportunities. More manufacturing and investments in the semiconductor industry are happening in these areas, which opens up opportunities for market expansion and partnerships.

Strategic Development:

• In October 2019 - The Japan Times reported that TOK, Shin-Etsu Chemicals, and JSR Corporation held 90% of the market for products that are resistant to extreme ultraviolet light as of 2018. These products are used to make 7-nanometer chips that are used in consumer electronics. Japanese companies like those listed above have come up with new ways to make photo resistors, which is increasing the demand for photoresist chemicals in Japan.
• In December 2019 - FUJIFILM Corporation, a company that makes photo resist chemicals, said it would buy Hitachi's imaging business to expand its diagnostic imaging in the healthcare market.
• In July 2019 - Japan decided to stop sending South Korea important chemicals used in electronics, like photoresist chemicals used to make electronic chips. This is because these chemicals can also be used for defense, which is a threat to Japan's national security. This will give South Korean companies that make photoresist chemicals a chance to sell those chemicals for a lot of money in South Korea.
• In March 2015 - The Nanotechnology Group at ETH Zurich wrote a research paper about how extreme ultraviolet lithography can be used to make patterns for integrated circuits. The researchers also found that photoresists made from inorganic chemicals work better than those made from organic chemicals. Demand for inorganic photoresist chemicals is likely to be driven by more research in the field of photoresist chemicals.
• In July 2021 - DuPont bought Laird Performance Material, and it became part of DuPont's business of making connections between electronics and industrial equipment. The flexible laminates, dry-film photoresists, specialty films, and other products that Laird Performance Materials sells go well with those that ICS sells.

Key Vendors:

Top market players are

• Fujifilm Holdings America Corporation

The main office for the Americas is FUJIFILM Holdings America Corporation. It is made up of more than 20 companies that work together in many different fields, such as medical and life sciences, electronics, chemicals, graphic arts, information systems, film, broadcasting, and photography.

• Mitsui Chemicals America Inc.

Mitsui Chemicals America, Inc. makes specialty chemicals and high-performance polymers and sells them to markets in both North and South America. They have a wide range of Performance Compounds, Elastomers, Engineering Plastics, Chemicals & Intermediates, Films, Tapes, Sheets, and Electronic Materials.

• The Dow Chemical Company

Dow Inc. (Dow) is a company that works with materials. The company runs its business through The Dow Chemical Co, a wholly owned subsidiary (TDCC). Plastics, performance materials, coatings and silicones, and industrial intermediates are all part of the company's product line.

• Shiny Chemical Industrial Co. Ltd

Shiny Chemical Industrial Company, Ltd. makes and sells chemical solvent and formaldehyde products and buys and sells raw materials for chemical solvents. The Shiny's main products are n-butyl acetate, isobutyl acetate, n-propyl acetate, and glacial acetic acid. The company's products are used as chemical raw materials, photoresist, detergent, and organic solvents.

• Transene Company Inc.

In 1962, Transene Company, Inc. began. Industrial inorganic chemicals are made by the company as part of its business.

• MicroChem Corp

In 1992, Microchem Corp. began. The company's main line of business is making chemical preparations.

• Sumitomo Chemical Advance Technologies

Sumika Electronic Materials Inc., which does business as Sumitomo Electronic Materials, makes chemicals and engineering plastics. The business sells epitaxial wafers, photoresists, semiconductors, resorcinol, penacolite, optical sheets, and polarizing films.

• JSR Corporation

JSR Corp (JSR), which used to be called Japan Synthetic Rubber Co Ltd, makes chemicals. It makes plastics, emulsions, and synthetic rubbers. The company sells special-purpose synthetic rubbers, general-purpose synthetic rubbers, thermoplastic elastomer (TPE), and other similar products.

• Tokyo Ohka Kogyo America Inc.

In 1989, Tokyo Ohka Kogyo America, Inc. was set up. Industrial inorganic chemicals are made by the company as part of its business.

Segmentation Analysis:

The market is segmented on the basis of product, application, end-user and region.

By Product:

Negative photoresist chemicals can be classified into different types based on their chemical composition and characteristics. This segmentation may include Chemical Developers, Strippers, Other. These are chemicals that are used to remove the parts of the exposed negative photoresist that were not exposed. After the desired patterning process is done, strippers are used to get rid of the negative photoresist layer. This group includes things like adhesion promoters and surface modifiers that are used in the negative photoresist process.

• Chemical Developers
• Strippers
• Other

By Application Outlook:

The market is segmented into Microelectronics, Optoelectronics, Sensors and Others

In the field of microelectronics, negative photoresists are used a lot to make devices like integrated circuits (ICs), printed circuit boards (PCBs), and microelectromechanical systems (MEMS) (MEMS). This part includes the use of negative photoresist chemicals to make optical devices like LEDs, OLEDs, and displays. Negative photoresist chemicals are used to make sensors that are used in industrial, medical, automotive, and aerospace applications. This category includes photomasks, nanofabrication, and surface microstructuring, among other uses.

• Microelectronics
• Optoelectronics
• Sensors
• Others

By End-User:

In 2020, electronics and electrical was the largest market segment for photoresist, and it is expected to grow at a CAGR of 6.2% from 2021 to 2026. Most electronic and electrical products, like computers, laptops, semiconductors, integrated circuits, smartphones, LCDs, OLEDs, and other similar products, use photoresist. People all over the world are getting more money to spend, so it makes sense that sales of electronics and electrical products would also go up. Also, more electronics and electrical goods would be made if there was more demand for them. In the long run, this will help the Photoresist industry grow.

• Electricals and Electronics
• Automobiles
• Packaging
• Others

Regional Insights:

Geographically, the global Negative Photoresist Chemicals market has been looked at in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).

Over the next few years, sales of negative photoresist chemicals are expected to grow in North America, where there is a well-established electronics industry and more PV installations are being made.

Due to demand from developing countries like China and India, the electronics industry has grown a lot in the APAC area. The electronics industry in China and India has also grown thanks to the use of PV. These things should make it possible for the negative photoresist chemicals market in the APAC region to grow.

The electronics industry is expected to grow in the Middle East and Africa because people in the Middle East are getting more money and there are more PV installations there. In the coming years, sales of negative photoresist chemicals are likely to go up due to growth in the electronics industry.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• In the Global Negative Photoresist Chemicals Market report, a whole section is devoted to market dynamics, which include factors that affect the market, drivers of the market, challenges, opportunities, and trends.
• Another large part of the research study is devoted to a regional analysis of the Global Negative Photoresist Chemicals Market. This is where important regions and countries are analyzed for their growth potential, consumption, market share, and other important factors that show how their markets are growing.
• Players can use the competitive analysis in the report to come up with new strategies or improve the ones they already have. This will help them overcome market challenges and increase their share of the Global Negative Photoresist Chemicals Market.