The global semiconductor photoresist stripper market size was USD 0.54 billion in and market is projected to touch USD 0.97 billion by , exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period.
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The removal of unwanted photoresist layers from the wafer is called the semiconductor photoresist stripper. It is used to reduce the photoresist material from wafers without any attack by the chemicals used. This market consists of two types, positive and negative photoresist strippers. A photoresist is an inorganic substance that is light-sensitive and changes chemically when exposed to UV light. A photoresist auxiliary provides a wide variety of chemistries, including anti-reflective coatings, edge bead removers, developers, and photoresist strippers. This process is also called lithography.
Flat-panel displays are frequently made using photoresists and photoresist ancillaries because of their characteristics, such as being smaller, thinner, and more energy-efficient. The increasing production of nm-based chips and the rising demand for rapid diagnostic systems are two major factors anticipated to propel the growth of the photoresist & photoresist ancillaries market. Additionally, the market is expected to rise as a result of the expanding material technical developments and increased attention being paid to the semiconductor industry's explosive growth. This process involves various steps. The substrate is coated with photoresists in the first process. Then it is exposed to the intense light pattern, and the process keeps moving forward. The expansion of the semiconductor industry, rising Internet of Things adoption, and high demand for smaller electronic devices are the main factors propelling the growth of the semiconductor photoresist stripper equipment market.
Disruption in Demand and Supply Hindered Market Growth
The World Health Organization classified COVID-19 as a pandemic in . Without a doubt, it has impacted almost every market. The equilibrium between supply and demand in the market has been significantly upset. Consequently, the shipments decreased. Consumer purchasing behavior is still being impacted by the COVID-19 pandemic, which has once more started to do so. Accordingly, stricter rules for working from home and the closing of factories across many nations as a result of the second wave in . The supply chain disruption led to lower supply, due to which the product demand could not be fulfilled and hampered the semiconductor photoresist stripper market growth.
Increasing Demand for Smaller Electronic Devices to Aid Market Growth
The semiconductor industry is seeing a rise in the use of miniaturized devices as the need for high-performance electronics rises. A further factor driving the demand for flexible and tiny integrated circuits is the escalating desire for cutting-edge consumer devices. The demand for thin wafers is also growing as a result of the development of technologies such as RFID, MEMS, and other power devices. This is due to the fact that thin wafers reduce package width, especially for portable electronics, smartphones, and small electronic devices. These emerging applications that use ultrathin and extremely thin die create a significant demand for tiny electronic devices and help to grow the market for semiconductor photoresist stripper equipment globally. High demand for small-sized electronics coupled with increased use of the Internet of Things and the rise of the semiconductor sector are the main drivers of the semiconductor photoresist stripper equipment market. Moreover, improvements in semiconductor photoresist stripper methods are anticipated to present profitable chances for the market's expansion on a global scale
By type, the market is segmented into positive photoresist strippers and negative photoresist strippers.
Based on application, the market is classified into integrated circuit manufacturing and wafer-level packaging.
Growing Digitization to Foster Product Demand
The accelerating digitization and growing demand for semiconductor devices across various industries. Additionally, the market for semiconductor photoresist strippers is expected to grow due to factors like the rise in computer chip production, the expanding electronics packaging industry, and its benefits like high resolution, high sensitivity to light, good adhesion properties, and the ability to encapsulate cells in hydrogels in three dimensions. The advent of innovative technologies for semiconductors is gaining the support of governments due to its advanced features.
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Rise in Demand for Advanced Consumer Goods to Augment Major Growth in the Market
Emerging technologies, including 4K televisions, wearables, smart homes, virtual and augmented reality, autonomous vehicles, drones, 3D printing, and communicative robots are becoming common. These revolutionary technologies demand the creation of complex consumer electronics for creating a lighter, quicker, better, stronger, and more affordable product. Electronics that are flexible and printable open the door to changing client needs since they offer remarkable versatility. During the forecast period, manufacturers are expected to make progress in shortening and improving development cycles. The semiconductor photoresist striper is essential for increasing the production of electronics that are expected to foster semiconductor photoresist stripper market growth
High Cost of Software to Hamper the Growth of the Market
The cost of the semiconductor photoresist stripper is high for vendors, which is expected to hinder the market growth. Consumer behavior is constantly changing, coupled with their changing demand for products, which is forecasted to become a resistance in the market expansion. The market's expansion is expected to be affected by expensive equipment operational and maintenance costs.
North America to Lead the Market Due to The Rising Government Initiatives for Energy Efficiency Gadgets
North America is projected to hold a dominating part of the semiconductor photoresist stripper market share owing to the rise in aerospace and defense industries increasing the expenses on R&D activities. The government’s initiatives to adopt energy-efficient gadgets are also estimated to propel market growth. The region holds about 65% of the total market share owing to these factors.
Asia Pacific is forecasted to show significant growth owing to the growing investment in the electronics sector and rising production of high-complexity chips. The improved advancements in technology, coupled with the rise in its share, are also estimated to foster growth in the region.
Key Players Focusing On Innovative Technology Development to Grow in Market
To provide more simple ways to expand the product catalog, businesses are attempting to build new technology. Businesses also employ cutting-edge procedures and methods to develop new technology. To expand revenue, companies concentrate on acquisitions and investments. Due to the presence of multiple large corporations, the market is competitive. Other features include a significant global consumer base and the use of specialized distribution networks for business operations. By introducing new products, major corporations try to increase their market share.
An overview of the product is provided along with the product description. Numerous industry elements are included in the research.