PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1748694
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1748694
Photoresist Market size was valued at US$ 5,245.23 Million in 2024, expanding at a CAGR of 5.6% from 2025 to 2032.
The photoresist is a class of light-sensitive materials essential in many microfabrication processes, particularly photolithography and photoengraving. A photoresist's composition usually contains a photoactive compound (PAC) or a photo initiator, a resin binder that adds structural strength, and a solvent to facilitate coatability. The precise chemical composition of these elements controls the resist's response to various wavelengths of light, its resolution and ability to reproduce fine details, resistance to follow-on etching operations, and bonding with the substrate. Photoresists are carefully designed to satisfy the extremely high requirements of microelectronics production, where nanometre-scale accuracy is required to make integrated circuits, semiconductors, liquid-crystal displays, and other microelectronic products. The relentless improvement in lithography methods involves creating new photoresists with greater sensitivity, better resolution, and improved etch resistance.
Photoresist Market- Market Dynamics
The growing need for semiconductors, driven by the advancement of artificial intelligence (AI), 5G technology, and the Internet of Things (IoT), calls for sophisticated semiconductor fabrication processes based heavily on high-quality photoresists for detailed circuit patterning. In addition, ongoing improvements in lithography technology, especially the growing usage of extreme ultraviolet (EUV) lithography for manufacturing smaller and more complex chips, are propelling the need for advanced photoresists with better resolution and sensitivity. The continuing technological shifts, including the broad adoption of AI and IoT across industries, are driving the widespread use of electronic devices, hence the need for small printed circuit board (PCB) layouts and sophisticated microfabrication processes where photoresists are also critical. The emerging technology of flexible & organic light-emitting diode (OLED) displays also poses a significant market opportunity for specialized photoresists.
In addition, the growing research and development activity toward sustainable and environmentally friendly resist materials is consistent with expanding environmental awareness and increasing regulation, which may create new market segments. However, the raw material supply chain vulnerabilities used in photoresist manufacturing can result in disruptions and price volatility, hampering market growth. Furthermore, the research, development, and production expenses of high-end photoresists, particularly those employed in EUV lithography, are quite high and can act as a barrier to entry for smaller firms and affect market growth.
Photoresist Market- Key Insights
Positive photoresists held the majority of the share in the market. This is mainly due to their ease of processing and greater resolution capability, which are important in microfabrication requiring high precision, especially in the manufacture of semiconductors.
ARF immersion photoresists dominate the market. They employ shorter wavelengths and immersion lithography methods, allowing smaller and more complex circuits to be created, which is needed for sophisticated electronic devices.
Semiconductors and integrated circuits are the largest application segment for photoresists. The ever-increasing demand for more potent and energy-saving electronic devices and developments in semiconductor technology fuel the intensive use of photoresists in integrated circuit fabrication.
Electrical & electronics is the leading segment in the photoresists market. This is attributed to the extensive use of semiconductors and integrated circuits in various electronic devices, from consumer electronics to industrial machinery.
The Global Photoresist Market is segmented based on Product Type, Application, Distribution, and Region.
By Application, the global photoresist market is divided into Liquid-crystal Displays (LCDs), Organic Light-emitting Diodes (OLEDs), Semiconductors, Integrated Circuits, Microcontact Printing, Microelectronics, Printed Circuit Boards, and Others. Semiconductors are the largest application segment for the global photoresist market. These materials are basic building blocks used in everything from smartphones and computers to industrial equipment and automotive electronics. Continuous demand for improved performance, reduced size, and greater functionality in electronic equipment makes it necessary to apply advanced lithography processes and, thereby, enormous quantities of high-quality photoresists to pattern the circuit on silicon wafers accurately. The liquid-crystal displays (LCDs) and organic light-emitting diodes (OLEDs) are expected to register the highest growth rate during the forecast period. The growing need for high-resolution and energy-efficient displays across a broad spectrum of consumer electronics drives this growth, such as smartphones, tablets, televisions, and wearable devices. The trend for larger screen sizes, higher pixel densities, and better color accuracy in these displays necessitates advanced photolithography processes for producing thin-film transistors (TFTs) and color filters, in which photoresists are critical.
By End-Use Industry, the global photoresist market is divided into Electrical and Electronics, Automobiles, Packaging, and Others. Electronics and electricals are the biggest end-use segment for photoresists. It covers many products, such as consumer electronics, telecom equipment, industrial control systems, and medical devices, all heavily dependent on semiconductors fabricated with photolithography and photoresists. The sheer number of electronic products being made worldwide, combined with the growing complexity of integrated circuits within them, drives segment growth. The most rapidly growing end-use market is expected to be Automobiles. The automotive industry is witnessing tremendous change with the growing use of electronic systems for safety features like ADAS, infotainment, navigation, and powertrain management. The growth of electric vehicles (EVs) also increases the need for advanced semiconductors and power electronics, which demand advanced photoresists in their production. This is fuelled by the automotive sector's emphasis on improved safety, connectivity, and sustainability, all of which depend on increasingly sophisticated electronic components.
Photoresist Market- Geographical Insights
Asia-Pacific is the largest and fastest-growing market for photoresists. This is mainly due to the region's strong semiconductor manufacturing base, with key fabrication centers in Taiwan, South Korea, and Japan. These countries produce a large share of the world's chips, thus creating huge demand for photoresists. In addition, the region's high concentration on the manufacturing of consumer electronics, automotive parts, and other electronic products also supports market growth. The future performance of the Asia-Pacific photoresist market is projected to be robust, with ongoing investments in semiconductor fabrication capacity and developments in photolithography technologies. The top nations in this regional market are Taiwan, South Korea, Japan, and China, which are leading in semiconductor development and production.
The photoresist market has a dynamic & competitive nature with a combination of established global entities and niche regional players. In response to the changing semiconductor and microelectronics industries, key players are undertaking ongoing research and development to develop new photoresist formulations with improved resolution, sensitivity, and etch resistance. Market competition is featured by product innovation, strategic alliances, and expansion capacity to have a competitive advantage. Photoresist development for new lithography technologies such as EUV is an important focus area. Companies also focus on developing eco-friendly and sustainable photoresist solutions in line with increased environmental regulation and market needs. The competitive scenario is also accelerated by the growth in demand for tailored photoresist solutions based on individual application needs, generating partnerships & joint ventures among material suppliers and users.
February 2025: JSR Corporation revealed that it will expand its development and manufacturing worldwide for its advanced photoresists. This comprises building a new R&D facility in Japan and a semiconductor photoresist factory in Korea, starting operations in 2026.
August 2024: JSR Corporation finalized the acquisition of Yamanaka Hutech Corporation (YHC), a producer of high-purity chemicals used in semiconductor manufacturing. The acquisition broadens JSR's product portfolio to include CVD and ALD precursors, critical for sophisticated semiconductor device structures.
February 2025: Tokyo Ohka Kogyo Co., Ltd (TOK) revealed the full subsidiarization of micro resist technology GmbH (MRT), a German entity. The takeover will enhance TOK's solutions in the European market and create new customer bases.
February 2025: Fujifilm announced a 4 billion yen investment in its Belgium production facility. The investment will be employed to introduce new production lines for CMP slurries and extend existing lines for photolithography-related products, such as photoresist developers.