Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Product Overview
Photoresist chemicals are the light sensitive materials which changes structure on the exposure to UV rays. It used in various industrial processes to form a coating on the surface. It is has high application in electronic industry especially in the manufacturing of semiconductors. Photoresist chemicals are considered to be an important material in the manufacturing of high performance circuit boards and semiconductor chips. Some of the different chemicals used in the photoresist processes are phenol formaldehyde resin, polymethyl methacrylate and polymethyl glutarimide. Photoresist chemicals are available in liquid and dry form. Photoresist chemicals are bifurcated into positive and negative. Technological developments resulting from increasing R&D initiatives is expected to drive the global photoresist chemicals market.
Market Size and Forecast
The global photoresist chemicals market is anticipated to expand at a CAGR around 6.0% during 2018-2027. It is projected to reach around USD 6.0 billion market size by 2027. The increasing demand from various end -use such as sand carving, semiconductors, sensors, circuit boards and integrated circuits is anticipated to increase the demand for the photoresist chemicals during the forecast period.
The global photoresist chemicals market can be segmented on the basis of product type, spectral line and end-use. On the basis of product type, it is segmented into positive and negative. Positive photoresist chemical is anticipated to be the leading sub-segment throughout the forecast period. Positive photoresist chemicals are soluble on the exposure of sunlight .However; negative photoresist chemicals are insoluble on the exposure to sunlight. On the basis of end-use, it is sub-segmented into sand carving, microelectronics, fabrication of printed circuit boards and semiconductor. Semiconductors sub-segment is anticipated to be the largest sub-segment on the account of large application of photoresist chemicals in the electronic industry especially in the manufacturing of semiconductors, circuit boards and integrated circuits.
By region, global photoresist chemicals market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to contribute the highest market share for the photoresist chemicals market on the account of highly developed electronic industry in the region. However, Asia-Pacific is anticipated to be the fastest growing region for the photoresist chemicals market on the account of rapid industrialization coupled with increasing demand for the consumer electronics in the developing countries such as India, China, Malaysia and Thailand.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global photoresist chemicals market in the following segments:
By Product Type:
By Spectral Line:
By End Use:
By Region
Global photoresist chemicals market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The rising industrialization coupled with rapidly expanding electronic industry is expected to augment the demand for the photoresist chemicals. The increasing usage of semiconductors in the electronic equipment is anticipated to drive the market growth of the photoresist chemicals. The increasing technological development such as NEMS (Nano electro mechanical systems) is anticipated to fuel the market growth of the photoresist chemicals. Additionally, the rising demand for the anti-reflective coatings is further estimated to increase the demand for the photoresist chemicals worldwide.
However, various factors that are expected to hinder the market growth are adverse effect of photoresist chemicals derived from the petrochemical products on the environment. Additionally, stringent government regulations regarding the effects of the photoresist chemicals are anticipated to restrain the market growth during the forecast period.
Key Players
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