Sellbyville, DE -- (SBWIRE) -- 11/13/2018 -- GMI presents a most up-to-date research on " Photoresist & Photoresist Ancillaries Market – Global Industry Analysis, Size, Share, Products (Photoresist [G-line and I-line, KrF, ArF Dry, ArF Immersion], Photoresist Ancillaries [Antireflective Coatings, Photoresist Developers, Edge Bead Removers]), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC) and Forecast 2017 – 2024".

Photoresist And Photoresist Ancillaries Market size is set to surpass USD 6 billion by 2024; as per a new research report by Global Market Insights, Inc. Tremendous advancements witnessed in display technology in the last few years will drive the growth of photoresist and photoresist ancillaries market. Displays have seen a noteworthy change in technology, starting from cathode ray tube (CRT) to liquid crystal display (LCDs) to light emitting diode (LED) in a short span. Also, flat panel display (FPD) technology have revolutionized the electronics industry with almost every electronic device being integrated with it.

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As FPDs are lighter and thinner than other conventional displays, they are being extensively used in electronics industry in many end use applications such as computers, smart phones, automotive display mediums, televisions, interactive boards, etc. Any advancements in technology in FPD is expected to augment the photoresist and photoresist ancillaries market throughout the forecast timeframe as they are employed in a variety of processes in this industry including spin coating, extrusion coating, roller coating, and advanced slit-coating.

Permissible limits for solvents and chemicals used in photoresist production have been set by The Occupational Safety and Health Administration (OSHA) and the National Institute for Occupational Safety and Health (NIOSH). For instance, butyl acetate is a solvent used in production of photoresist and its permissible exposure limit (PEL) and recommended exposure limit (REL) have both been set at 200 ppm. Some of the secondary components of the product are radical scavengers, antioxidants, amines, wetting agents, coating aids, and adhesion promoters derived from petroleum-based solvents and synthetic polymers. They can have serious effects on human health as well as the environment and are strictly regulated by the governing bodies. These regulations may prevent the entry of new players and hamper the industries growth in the coming years.

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Considering the product trends, photoresist market is fragmented into ArF dry, ArF immersion, G-line and I-line, and KrF grades. Increasing proliferation of microelectronics is likely to drive KrF grade market demand. ArF immersion will also contribute significantly toward the overall photoresist and photoresist ancillaries industry share, with a target revenue to exceed USD 1 billion by the end of 2024.

Regionally, photoresist and photoresist ancillaries market demand is quite heavy across APAC belt. Expanding electronics and communication industry is the prime factor that can be credited for the regional growth. With China and South Korea at the growth front, Asia Pacific photoresist and photoresist ancillaries market is projected to record USD 4 billion by the end of 2024. Along the same lines, North America is also likely to experience a strong command over the global industry. With a valuation of USD 350 million in 2016, the regional market is anticipated to witness substantial growth over 2017-2024.

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The products of the industry are solvent based. Stringent regulatory norms enforced by some of the renowned organizations like REACH and EPA, subject to its environmental unfeasibility is creating a threat for the industry participants. In order to overcome the challenges, companies are looking forward to various bio based alternatives to sustain in the competitive landscape. Some of the prominent photoresist and photoresist ancillaries industry participants include AZ Electronic Materials, JSR Corporation, The Dow Chemical Company, Tokyo Ohka Kogyo, and Hitachi Chemical.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.