Photoresist Chemical Market Research Report: By Chemical Composition (Positive Photoresist, Negative Photoresist, Dry Film Photoresist, Liquid Photoresist), By Application (Semiconductors, Printed Circuit Boards (PCBs), Displays and Optoelectronics, Medical Devices), By Purity Level (High Purity Photoresists, Standard Purity Photoresists), By End-User Industry (Electronics, Automotive, Aerospace, Medical) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2032.

Global Photoresist Chemical Market Overview

As per MRFR analysis, the Photoresist Chemical Market Size was estimated at 9.76 (USD Billion) in 2022. The Photoresist Chemical Market Industry is expected to grow from 10.26(USD Billion) in 2023 to 16.1 (USD Billion) by 2032. The Photoresist Chemical Market CAGR (growth rate) is expected to be around 5.13% during the forecast period (2024 - 2032).

Key Photoresist Chemical Market Trends Highlighted

The global photoresist chemical market is witnessing significant growth, driven by the increasing demand for advanced semiconductor devices. The miniaturization of electronic devices and the rise of 5G technology are key factors propelling market expansion. Furthermore, increasing investments in research and development of novel photoresist materials contribute to the market's growth. The adoption of advanced packaging technologies, such as 3D ICs and fan-out wafer-level packaging, is creating opportunities for the photoresist chemical market to expand. Additionally, the growing popularity of flexible and wearable electronics is driving demand for specialized photoresists that can adhere to non-traditional substrates.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Photoresist Chemical Market Drivers

Advancements in Semiconductor Manufacturing

The continuous advancements in the semiconductor industry are primarily driving the growth of the global photoresist chemical market. The increasing demand for smaller, faster, and more power-efficient semiconductors for various applications such as smartphones, laptops, data centers, and automotive electronics is propelling the need for advanced photoresist chemicals. These chemicals play a critical role in the manufacturing process of semiconductors, enabling the precise transfer of circuit patterns onto silicon wafers.As the complexity and miniaturization of semiconductor devices continue to increase, the demand for high-performance photoresist chemicals that can meet the stringent requirements of advanced lithography techniques is expected to rise significantly. The ongoing research and development in the semiconductor industry, driven by the need for improved chip performance and functionality, are anticipated to further contribute to the growth of the photoresist chemical market.

Growing Adoption of Microelectronics in Diverse Industries

The expanding adoption of microelectronics across a wide range of industries is another key factor driving the growth of the global photoresist chemical market. Microelectronics, which encompass integrated circuits, microprocessors, and other miniaturized electronic components, are increasingly being utilized in various sectors such as automotive, healthcare, and telecommunications. The growing demand for these electronic devices, particularly in emerging economies, is fueling the need for photoresist chemicals used in their production.Additionally, the increasing adoption of microelectronics in wearable devices, Internet of Things (IoT) applications, and artificial intelligence (AI) systems is expected to further drive the demand for photoresist chemicals in the coming years.

Government Initiatives and Industry Collaborations

Government initiatives and industry collaborations aimed at promoting the development and adoption of advanced semiconductor technologies are contributing to the growth of the global photoresist chemical market. Governments worldwide recognize the strategic importance of the semiconductor industry and are implementing various policies and incentives to support research and innovation in this field. Furthermore, industry collaborations between photoresist chemical manufacturers, semiconductor companies, and research institutions are facilitating the development of next-generation photoresist chemicals with improved performance and cost-effectiveness.These collaborative efforts are expected to accelerate the adoption of advanced semiconductor technologies and drive the demand for photoresist chemicals in the global market.

Photoresist Chemical Market Segment Insights

Photoresist Chemical Market Chemical Composition Insights 

Among the various market segments, chemical composition plays a crucial role in defining market dynamics. Positive Photoresist segment dominated the Global Photoresist Chemical Market in 2023, capturing over 55% of the market share, and is projected to maintain its dominance throughout the forecast period. Positive Photoresists are widely used in the production of printed circuit boards (PCBs) due to their ability to form precise patterns and high resolution. Negative Photoresists, on the other hand, accounted for approximately 30% of the market share in 2023.Negative Photoresists are primarily used in applications where high contrast and etch resistance are required, such as in the manufacturing of solar cells and semiconductor devices. Dry Film Photoresists are expected to witness a significant growth rate during the forecast period, owing to their ease of use and compatibility with various substrates. Dry Film Photoresists are gaining popularity in industries such as automotive, aerospace, and electronics, where high-precision patterning is essential. Liquid Photoresists, which held the smallest market share in 2023, are typically used in applications where high resolution and fine feature sizes are required.Liquid Photoresists are commonly employed in the production of microelectronics and advanced packaging. The market growth for Photoresist Chemicals is primarily driven by the increasing demand for electronic devices, printed circuit boards, and semiconductor components. The growing adoption of advanced technologies, such as 5G and artificial intelligence (AI), is further fueling the demand for high-performance photoresists capable of delivering precise patterning and high resolution.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Photoresist Chemical Market Application Insights 

With the rapid growth in the electronics industry, semiconductors have emerged as one of the most significant application segments, accounting for USD 4.95 billion in 2023 and projected to reach USD 7.81 billion by 2032. The demand for high-performance semiconductors for advanced computing, smartphones, and IoT devices fuels this growth. Printed Circuit Boards (PCBs) constitute another major segment, valued at USD 2.67 billion in 2023 and anticipated to reach USD 4.19 billion by 2032, driven by the increasing complexity and miniaturization of electronic devices.Displays and Optoelectronics represent a promising segment, with a valuation of USD 1.5 billion in 2023 and a projected value of USD 2.34 billion by 2032, attributed to the rising adoption of high-resolution displays, LEDs and OLEDs. Medical Devices contribute significantly, with a market size of USD 1.14 billion in 2023 and an expected value of USD 1.76 billion by 2032, driven by the increasing demand for precision and reliability in medical applications.

Photoresist Chemical Market Purity Level Insights 

The Global Photoresist Chemical Market is segmented by Purity Level into High Purity Photoresists and Standard Purity Photoresists. High-purity photoresists are used in the production of semiconductors and other electronic devices. Standard purity photoresists are used in the production of printed circuit boards and other electronic components. In 2023, the Global Photoresist Chemical Market revenue was valued at 10.26 Billion USD. The High Purity Photoresists segment is expected to account for the largest share of the Global Photoresist Chemical Market in 2023.The growth of this segment is attributed to the increasing demand for semiconductors and other electronic devices. The Standard Purity Photoresists segment is expected to grow at a slower CAGR during the forecast period. The growth of this segment is attributed to the increasing demand for printed circuit boards and other electronic components.

Photoresist Chemical Market End-User Industry Insights

The Global Photoresist Chemical Market is segmented by End-User Industry into Electronics, Automotive, Aerospace, and Medical. The Electronics segment accounted for the largest share of the market in 2023, and it is projected to continue to grow at a CAGR of 5.1% through 2032. This growth is attributed to the increasing demand for electronic devices such as smartphones, laptops, and tablets. The Automotive segment is also expected to witness significant growth over the forecast period, owing to the rising production of automobiles and the increasing use of photoresist chemicals in automotive applications.The Aerospace and Medical segments are also expected to contribute to the growth of the Global Photoresist Chemical Market over the forecast period.

Photoresist Chemical Market Regional Insights  

The Global Photoresist Chemical Market segmentation by region offers insights into the market's performance across key geographies, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America dominated the market in 2023 with a revenue share of 36.5%, primarily driven by the presence of leading semiconductor manufacturers and the high demand for advanced photoresist chemicals in the region. Europe held the second-largest market share of 31.4% in 2023, supported by the growing adoption of semiconductor devices in industries such as automotive, healthcare, and consumer electronics.The Asia-Pacific region is projected to experience significant growth during the forecast period, with a CAGR of 6.1% from 2024 to 2032. This growth is attributed to the increasing demand for photoresist chemicals in emerging economies like China, India, and South Korea, which are experiencing rapid growth in the electronics and semiconductor industries.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Photoresist Chemical Market Key Players And Competitive Insights:

Major players in the Photoresist Chemical Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and strengthening their distribution networks. Leading Photoresist Chemical Market players are focusing on developing innovative products that meet the evolving needs of the electronics industry. They are also exploring new applications for photoresist chemicals, such as in the development of advanced materials and devices. Mergers and acquisitions are also common in the Photoresist Chemical Market Competitive Landscape, as companies seek to consolidate their market position and expand their global reach.Tokyo Ohka Kogyo Co., Ltd. is a leading player in the Global Photoresist Chemical Market, with a strong focus on the development and production of high-quality photoresist chemicals. The company's products are used in a wide range of applications, including semiconductor manufacturing, printed circuit board fabrication, and flat panel display production. Tokyo Ohka Kogyo has a global presence, with manufacturing facilities in Japan, the United States, and Europe. The company is committed to providing its customers with innovative and reliable products, and it has a strong track record of success in the Photoresist Chemical Market.JSR Corporation is another major player in the Global Photoresist Chemical Market. The company is headquartered in Japan and has a global presence, with manufacturing facilities in Asia, Europe, and the Americas. JSR Corporation is a leading supplier of photoresist chemicals for the semiconductor industry, and it also offers a wide range of other products, including electronic materials, chemicals for the display industry, and life science products. The company is committed to innovation and customer satisfaction, and it has a strong track record of success in the Photoresist Chemical Market.

Key Companies in the Photoresist Chemical Market Include

• Tokyo Ohka Kogyo Co., Ltd.


• Entegris, Inc.


• Daikin Industries, Ltd.


• Fujifilm Corporation


• ShinEtsu Chemical Co., Ltd.


• Versum Materials, Inc.


• AZ Electronic Materials


• JSR Corporation


• Brewer Science, Inc.


• BASF SE


• Merck KGaA


• Shinagawa Chemical Co., Ltd.


• Sumitomo Chemical Co., Ltd.


• Hitachi Chemical Co., Ltd.


• Microchemical GmbH

Photoresist Chemical Market Industry Developments

The Global Photoresist Chemical Market is poised to reach a valuation of USD 10.26 Billion in 2023 and is projected to register a CAGR of 5.13% during the forecast period of 2024-2032. The growth of the market is attributed to the increasing demand for semiconductors and printed circuit boards (PCBs) in various industries such as consumer electronics, automotive, and telecommunications.Recent developments in the market include the launch of new products by major players such as JSR Corporation and Fujifilm Holdings Corporation. For instance, in 2023, JSR Corporation announced the launch of a new positive-type photoresist, the ZP9000 series, designed to improve the productivity of semiconductor manufacturing.Furthermore, the market has witnessed strategic partnerships and collaborations among key players to enhance their product offerings and expand their market reach. In 2022, BASF SE and Shin-Etsu Chemical Co., Ltd. announced a collaboration to develop and produce advanced photoresist materials for extreme ultraviolet (EUV) lithography.

Photoresist Chemical Market Segmentation Insights

Photoresist Chemical Market Chemical Composition Outlook

• Positive Photoresist


• Negative Photoresist


• Dry Film Photoresist


• Liquid Photoresist

Photoresist Chemical Market Application Outlook

• Semiconductors


• Printed Circuit Boards (PCBs)


• Displays and Optoelectronics


• Medical Devices

Photoresist Chemical Market Purity Level Outlook

• High Purity Photoresists


• Standard Purity Photoresists

Photoresist Chemical Market End-User Industry Outlook

• Electronics


• Automotive


• Aerospace


• Medical

Photoresist Chemical Market Regional Outlook

• North America


• Europe


• South America


• Asia-Pacific


• Middle East and Africa