As cited by the business intelligence report titled ‘Global Photoresist & Photoresist Ancillaries Market Size study, by Application (Semiconductor & IC, LCD, PCB), Type (ArF Immersion, ArF Dry Film, KrF, G-line & I-line), Ancillary Type (Anti-reflective Coating, Remover, Developer) and Regional Forecasts 2020-2027’, available with Market Study Report, global photoresist & photoresist ancillaries market was worth USD 2.3 billion in 2019 and is predicted to register a 4.8% CAGR during 2020-2027, subsequently reaching a valuation of USD 3.3 billion by the end of the study period.
 

As per the findings of the report, gradual recovery of the semiconductor industry, coupled with increasing penetration of IoT smartphones are augmenting global photoresist & photoresist ancillaries market size. Further, growing adoption of nanotechnology, followed by an upsurge in demand for nm-based chips are expected to add significant traction to the overall market growth in the coming years.
 

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For those unaware, photoresists are light-sensitive polymeric resins which are primarily used for manufacturing micro electromechanical (MEMS) devices, magnetic recording heads, flat panel LCDs, and printed circuit boards among others. They are used with photoresist ancillary materials in multi-layered semiconductors for manufacturing computers, music players, telephones etc. Moreover, photoresist & photoresist ancillaries are increasingly being used for the manufacturing of numerous products including televisions, electronic control & tracking instruments, specialized telephones, and computing systems.
 

Speaking of the factors hindering photoresist & photoresist ancillaries industry growth, rising geopolitical tensions along with stringent taxation and consumption policies will negatively impact the business dynamics during the forecast timeframe.
 

Based on product type, global photoresist & photoresist ancillaries market is bifurcated into G-line & I-line, ArF dry film, and ArF immersion.
 

With regards to ancillary type, the industry is split into developer, remover, and anti-reflective coating.
 

Moving on, the application spectrum is divided into PCB, LCD, and semiconductor & IC among others.
 

Speaking of geographical scope, North America captures a majority of global photoresist & photoresist ancillaries market share, primarily due to increasing research & development activities in nm-based chips and rising penetration of IoT smartphones in the region.
 

On the other hand, Asia-Pacific marketplace is expected to grow exponentially over 2020-2027, on account of rapid development in the semiconductor industry and rising adoption of nanotechnology.
 

Key participants in global photoresist & photoresist ancillaries market sphere are DJ MicroLaminates Inc., JSR Corp., Tokyo Ohka Kogyo Co., Ltd., Shin Etsu Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., Fujifilm Corp., Allresist DE, DuPont de Nemours, Inc., Merck Group, and Micro Resist Technology GmbH.