The Europe photoresist process chemicals market is expected to grow from US$ 607.26 million in 2020 to US$ 865.38 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2020 to 2028. Europe has matured the consumer electronics sector, and it is supported by high technology connectivity environment. Along with the advancing technology, the trend of smart offices and homes is boosting the demand for consumer electronics products such as smart TV and smart air conditioner. Additionally, rising personal disposable income of the consumers has led to increasing demand for consumer electronic products. These factors boost the photoresist chemicals market in Europe. Moreover, gaming and entertainment applications of the electronic products have further propelled the growth of the European consumer electronics industry. This is further projected to provide huge growth opportunities for photoresist chemicals companies operating in Europe. Economically strong countries such as Germany, the UK, and Russia have been witnessing significant growth mainly in the implementation of technologically advanced solutions. Other than the chemical industry, the other industries flourishing in the region are automotive, aerospace and aviation, military and defense, electronics, and semiconductors, medical and healthcare, others, which are bolstering the growth of photoresist chemicals in the region. For instance, Europe’s electronics & electrical engineering sector is a huge and attractive sales market. In the year of 2016, this market had a world market share of 14.6%. The energy sector, covering processes like extraction, production, and distribution, largely employs the EU about 1.6 million people and also generates an added €250 billion to the economy in 2019, corresponding to 4% of value-added of the non-financial European business economy.
In Europe, France witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of photoresist process chemicals manufacturing activities.Downfall of other chemical and materials manufacturing sectors has subsequently impacted the demand for photoresist process chemicals during the early months of 2020.
Moreover, decline in the overall semiconductor manufacturing activities has led to discontinuation of photoresist process chemicals manufacturing projects, thereby reducing the demand for photoresist process chemicals.Similar trend was witnessed in other European countries, such as Russia, the UK, Italy, Germany, and Spain.
However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Based on product type, the market is segmented into solvents, binders, sensitizer and others.The solvents segment led the Europe photoresist process chemicals market in 2019.
A photoresist is also known as a resist, and its light-sensitive application is utilized in several processes, such as photolithography & photoengraving, mainly to create a patterned coating on a surface.This process is known as crucial in the electronic industry.
The process starts by coating a substrate with a light-sensitive organic application.A patterned mask is further applied to the surface mainly to block light, so that only unmasked regions of the application can be exposed to light.
A solvent, known as a developer, is then employed to the surface. Solvents permits the photoresist to be applied by spin-coating. In terms of a positive photoresist, the photo-sensitive application is destroyed by light and the developer get dissolve away the regions that were exposed to light, by leaving behind a coating where the mask was placed. However, in terms of a negative photoresist, the photosensitive application is quite strengthened by light, and the developer get dissolve away only the regions that were not actually exposed to light, leaving behind a coating in the areas where the mask was not placed. Solvents are needed to create the photoresist a liquid, which further permits the resist to be spun onto a substrate. The solvents utilized in negative photoresists are non-polar organic solvents, including xylene, toluene, and halogenated aliphatic hydrocarbons. In positive resists, several organic solvents such as ethyl cellosolve acetate, diglyme, or cyclohexanone, and ethoxyethyl acetate can be used.
The overall Europe photoresist process chemicals market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe photoresist process chemicals market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe photoresist process chemicals market. A few of the key companies operating in the market are Tokyo Ohka Kogyo Co., Ltd.; Tokuyama Corporation; Dupont; Microchemicals Gmbh; and Allresist GmbH and Sumitomo Chemical Co., Ltd.
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