가전, 자동차, 통신 등 업계 수요 증가로 보다 작고 고성능인 칩의 필요성이 높아지고, 반도체 제조에 있어서 포토레지스트의 사용량이 증가하고 있습니다. 이러한 수요는 정교한 고성능 칩을 필요로 하는 5G 기술, 사물인터넷(IoT), 인공지능(AI)의 확대로 더욱 촉진되어 2024년에는 50억 8,000만 달러로 평가되었고, 2031년에는 79억 7,000만 달러에 이를 전망입니다.
게다가 극단 자외선(EUV) 리소그래피와 같은 리소그래피 기술의 진보는 현대 반도체 제조의 정확성과 품질 요건을 충족할 수 있는 고급 포토레지스트에 대한 수요를 끌어올렸으며, 2024년부터 2031년까지 약 6.39%의 연평균 복합 성장률(CAGR)을 나타낼 전망입니다.
포토레지스트 시장 정의 및 개요
포토레지스트는 반도체 웨이퍼나 프린트 기판(PCB), 기타 전자 부품에 패턴을 형성하는 포토리소그래피나 사진 제판 프로세스에 사용되는 감광성 재료입니다. 주로 반도체 산업에서 집적 회로, 미소 전기 기계 시스템(MEMS), 디스플레이 패널 제조에 사용됩니다. 포토레지스트의 미래는 첨단 일렉트로닉스, 5G 기술, 인공지능, 소형화 디바이스에 대한 수요가 증가함에 따라 유망시되고 있습니다. 극단자외선(EUV) 리소그래피와 친환경 포토레지스트에서의 혁신은 차세대 반도체 제조에서의 포토레지스트 용도를 넓힐 것으로 기대되고 있습니다.
극단 자외선 리소그래피(EUV)의 활용 확대는 포토레지스트 시장의 중요한 촉진요인입니다. 이 최첨단 기술은 더 작고, 더 강력하고, 에너지 효율적인 마이크로칩 제조를 가능하게 함으로써 반도체 산업을 변혁하고 있습니다. EUV 리소그래피는 7 나노미터 이하의 피처 크기 회로 패턴의 작성을 가능하게 하며, 이는 전자 장치의 지속적인 진보에 필수적입니다.
반도체산업협회(SIA) 보고서에 따르면 세계 반도체 매출은 2022년 5,735억 달러에 이르렀으며 그 이후에도 추가 성장이 예상되고 있습니다. 이러한 증가는 주로 5G 네트워크, 인공지능, 사물인터넷(IoT) 기기 등 다양한 용도로 고급 칩에 대한 수요가 높아지고 있기 때문입니다. EUV 기술의 이용은 수요를 충족시키는 데 중요한 역할을 하고 있습니다. 예를 들어 2024년 1월 ASML은 지금까지 100대의 EUV 시스템을 출하했다고 보고하고 수요 증가에 대응하기 위해 생산을 증강할 계획임을 밝혔습니다. 이러한 EUV 시스템 도입의 증가는 특수한 EUV 포토레지스트에 대한 수요 증가에 직접 대응하는 것이며, EUV를 새로 도입할 때마다 칩 생산용 이들 재료의 안정적 공급이 필요하기 때문입니다.
2024년 3월 Samsung Electronics는 2030년까지 첨단 칩 기술에 1,160억 달러를 투자할 계획을 발표했는데, 그 대부분은 EUV 기반 생산 라인을 향한 것입니다. 이 투자는 EUV 포토레지스트의 수요를 크게 끌어올릴 것으로 예상됩니다. 게다가 2022년 8월에 성립한 미국 CHIPS 과학법에서는, 미국의 반도체 연구 개발 및 생산을 위해서 527억 달러가 확보되었습니다. 이 자금의 일부는, 특히 EUV 기술과 포토레지스트 등의 관련 재료의 발전을 목적으로 하고 있습니다.
특히 반도체 제조가 복잡해지고 보다 고도의 재료가 요구되게 되면 높은 비용과 지속적인 메인터넌스 비용이 포토레지스트 시장의 성장을 저해할 가능성이 있습니다. 특히 극단자외선(EUV) 리소그래피와 같은 최첨단 기술을 위한 고성능 포토레지스트를 만들려면 연구개발에 많은 투자를 해야 합니다. 이러한 비용은 정밀한 제조와 엄격한 품질 관리 대책이 요구되기 때문에 제조 비용이 상승하고 더욱 악화됩니다. 포토레지스트 제조업체는 이러한 비용을 반도체 기업에 전가하기 때문에 재무적 부담의 증대로 특히 소규모 기업이나 예산이 어려운 기업에서의 채용이 늦어질 가능성이 있습니다.
초기 개발 비용 외에도 포토리소그래피 장치의 지속적인 유지 보수 및 업그레이드가 전반적인 비용에 부과됩니다. 최첨단 반도체 제조 공정에서 사용되는 포토레지스트는 잦은 처방 변경과 진화하는 리소그래피 기술과의 호환성이 필요합니다. 이 때문에 장치의 재보정, 재료 테스트, 프로세스 최적화 등의 추가 비용이 발생합니다. 이러한 요인들은 불안정한 원자재 가격과 맞물려 생산 비용과 업무 효율을 통제하기 어려운 환경을 만들어내고 특정 지역이나 산업에서 시장 성장을 제한할 가능성이 있습니다.
Rising demand from industries such as consumer electronics, automotive, and telecommunications has increased the need for smaller, more powerful chips, resulting in greater use of photoresists in semiconductor manufacturing. This demand has been fueled further by the expansion of 5G technology, the Internet of Things (IoT), and artificial intelligence (AI), all of which require sophisticated, high-performance chips is suppressing USD 5.08 Billion in 2024 and reachingUSD 7.97 Billion by 2031.
Furthermore, advances in lithography techniques, such as extreme ultraviolet (EUV) lithography, are driving up demand for advanced photoresists that can meet the precision and quality requirements of modern semiconductor fabrication is expected to grow at aCAGR of about 6.39% from 2024 to 2031.
Photoresist Market: Definition/ Overview
Photoresist is a light-sensitive material used in photolithography and photoengraving processes to create patterns on semiconductor wafers, printed circuit boards (PCBs), and other electronic components. It is primarily used in the semiconductor industry to manufacture integrated circuits, microelectromechanical systems (MEMS), and display panels. The future of photoresists looks promising, thanks to rising demand for advanced electronics, 5G technology, artificial intelligence, and miniaturized devices. Innovations in extreme ultraviolet (EUV) lithography and environmentally friendly photoresists are expected to broaden its applications in next-generation semiconductor manufacturing.
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The growing use of Extreme Ultraviolet Lithography (EUV) is a significant driver for the photoresist market. This cutting-edge technology is transforming the semiconductor industry by enabling the creation of smaller, more powerful, and energy-efficient microchips. EUV lithography enables the creation of circuit patterns with feature sizes as small as 7 nanometers or less, which is critical for the continued advancement of electronic devices.
According to a Semiconductor Industry Association (SIA) report, global semiconductor sales will reach USD 573.5 Billion in 2022, with further growth expected in subsequent years. This increase is primarily due to the growing demand for advanced chips in a variety of applications, including 5G networks, artificial intelligence, and Internet of Things (IoT) devices. The use of EUV technology is playing an important role in meeting demand. For instance, in January 2024, ASML reported that it had shipped 100 EUV systems to date, with plans to ramp up production to meet rising demand. This increase in EUV system deployment corresponds directly to an increase in demand for specialized EUV photoresists, as each new EUV installation necessitates a steady supply of these materials for chip production.
In March 2024, Samsung Electronics announced plans to invest USD 116 Billion in advanced chip technology by 2030, with a significant portion going toward EUV-based production lines. This investment is expected to boost demand for EUV photoresists significantly. Furthermore, in August 2022, the US CHIPS and Science Act, passed, sets aside USD 52.7 Billion for American semiconductor research, development, and production. A portion of this funding is specifically intended to advance EUV technology and its associated materials, such as photoresists.
High costs and ongoing maintenance expenses may stymie the growth of the photoresist market, especially as semiconductor manufacturing becomes more complex and requires more advanced materials. Creating high-performance photoresists, particularly for cutting-edge technologies such as extreme ultraviolet (EUV) lithography, necessitates significant investment in R&D. These costs are exacerbated by the requirement for precision manufacturing and stringent quality control measures, which raises production costs. As photoresist manufacturers pass these costs on to semiconductor companies, the increased financial burden may slow adoption, especially among smaller players or those with tighter budgets.
In addition to the initial development costs, ongoing maintenance and upgrades to photolithography equipment add to the overall expenses. Photoresists used in advanced semiconductor fabrication processes necessitate frequent formulation changes and compatibility with evolving lithography technologies. This incurs additional costs for machine recalibration, material testing, and process optimization. These factors, combined with volatile raw material prices, create an environment in which controlling production costs and operational efficiency becomes difficult, potentially limiting market growth in certain regions or industries.
The growing demand for positive photoresists is expected to drive the photoresist market. Positive photoresists provide superior resolution and precision, making them highly desirable in advanced semiconductor manufacturing processes like microchips, memory devices, and integrated circuits. As industries such as consumer electronics, telecommunications, and automotive shift to smaller and more powerful devices, the demand for positive photoresists grows. In July 2024, JSR Corporation announced that it would expand its research into extreme ultraviolet (EUV) photoresists, with a focus on positive photoresist formulations to meet the semiconductor industry's growing demand. This highlights the market's growing reliance on positive photoresists.
In May 2024, the United States government announced funding initiatives to support domestic semiconductor manufacturing under the CHIPS Act. A portion of this funding will go toward advancing photolithography technologies, such as the creation of high-resolution positive photoresists to support local semiconductor production. These investments are likely to drive further growth in the positive photoresist market, as countries seek to strengthen their semiconductor supply chains in response to rising global demand for advanced electronic devices.
However, the negative photoresists segment is expanding at the fastest rate, owing to its growing use in applications such as flexible electronics, MEMS, and sensors, which require thicker films and greater durability. This expansion is fueled by advancements in technologies such as 5G and AI, as well as increased government investment in semiconductor research.
The growing use of ArF immersion photoresists is a major driver boosting growth of the photoresist market, especially as semiconductor manufacturers seek more advanced and precise lithography techniques. ArF immersion photoresists are required to create smaller, more powerful nodes (7nm and below), which are critical in the development of high-performance processors, memory chips, and other advanced electronic components. As industries like 5G, AI, and IoT expand, so does the demand for high-precision photoresists. In June 2024, Tokyo Electron announced a collaboration with major semiconductor manufacturers to improve its ArF immersion lithography systems, with a focus on compatibility with advanced photoresists to meet the growing demand for miniaturization in semiconductor fabrication.
In April 2024, South Korea's Ministry of Trade, Industry, and Energy launched an initiative to strengthen its semiconductor ecosystem by investing in advanced photolithography technologies such as ArF immersion. This program aims to increase local production capabilities while reducing reliance on foreign suppliers. Such government support, combined with increased investments in semiconductor manufacturing infrastructure, is expected to drive demand for ArF immersion photoresists, resulting in overall market growth as countries compete to lead in cutting-edge semiconductor technologies.
KrF photoresists are the second fastest-growing segment, driven by their use in mid-range semiconductor manufacturing. KrF photoresists are used in larger node processes (above 90nm), making them useful in industries like automotive electronics and industrial equipment. As these industries grow and require more durable chips, the demand for KrF photoresists increases.
Country/Region-wise
The robust and rapidly expanding semiconductor manufacturing industry in Asia Pacific is a major driver of the global photoresist market. Taiwan, South Korea, China, and Japan are the primary drivers of this growth, having established themselves as key players in the global semiconductor supply chain.
In February 2024, According to a Semiconductor Industry Association (SIA) report published the Asia Pacific region accounted for 67% of global semiconductor manufacturing capacity in 2023, with projections indicating that share could reach 70% by 2026.
Government initiatives in the Asia Pacific region are also playing an important role in boosting the semiconductor industry, and thus the photoresist market. In China, the government's "Made in China 2025" initiative aims to boost the country's semiconductor self-sufficiency to 70% by 2025. As part of this strategy, the Chinese government announced a USD 150 Billion investment package in December 2023 to boost domestic semiconductor research and manufacturing, including advances in photoresist technology. In April 2024, According to an International Trade Administration report published the photoresist market in Asia Pacific will grow at a CAGR of 7.5% from 2024 to 2029, outpacing the global average of 6.2% and cementing the region's role as a key driver of the global photoresist market.
Growing government initiatives in North America are expected to boost the photoresist market significantly. Recent policy actions and funding programs aimed at strengthening domestic semiconductor production have been key drivers of this growth. For instance, in August 2024, the US Department of Commerce announced an expansion of CHIPS Act funding, which includes significant investments in photolithography technologies and materials, such as photoresists. This initiative aims to increase local manufacturing capabilities and reduce reliance on foreign suppliers, thereby directly impacting demand for advanced photoresists as semiconductor companies ramp up production to meet new technological standards.
In May 2023, Canada's government announced its Semiconductor Action Plan, committing CAD USD 250 Million (approximately USD 185 Million) to strengthen the country's semiconductor ecosystem. This strategy includes substantial investments in photonics and advanced materials research, which are critical for developing next-generation photoresists. Additionally, in March 2024 , Journal of Photopolymer Science and Technology, it is predicted that these government initiatives will result in a 30% increase in advanced photoresist consumption in North America by 2028, compared to 2023 levels, highlighting the significant impact of government support on the photoresist market.
The competitive landscape of the photoresist market is shaped by the rapid advancements in semiconductor manufacturing, increasing demand for advanced lithography techniques, and the rise of smaller, more efficient electronic devices. Companies focus on innovation and strategic partnerships with semiconductor manufacturers to meet the growing demand for high-performance photoresist materials. Regional players in Asia-Pacific, particularly in Japan and South Korea, are also expanding their market presence due to the strong growth of electronics and semiconductor industries in these regions. Furthermore, environmental regulations are pushing manufacturers to develop eco-friendly photoresists.
Some of the prominent players operating in the photoresist market include:
JSR Corporation (JSR)
Fujifilm Holdings America Corporation
DuPont Electronics & Imaging
Sumitomo Chemical Co. Ltd.
Asahi Kasei Corporation
DJ Microlaminates
KOLON Industries, Inc.
Microchemicals GmbH.
In November 2024, Foundries announced that it had implemented new ArF immersion photoresists from a leading supplier to improve its semiconductor fabrication processes. This move is consistent with their strategy to improve manufacturing capabilities and meet the growing demand for high-performance chips.
In December 2024, BASF announced the introduction of a new line of photoresists with improved performance characteristics for 3D NAND memory devices. This development aims to support the increasing complexity and density of memory chip production.
In September 2024 Dow Inc. announced the acquisition of a photoresist technology firm to strengthen its portfolio in the semiconductor materials industry. Dow's acquisition aims to strengthen its capabilities in the development of advanced photoresists for high-precision applications.