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The global photoresist and photoresist ancillaries market reached a value of $3.1 Billion in 2017. The market value is further projected to reach $4.38 Billion by 2023, exhibiting a CAGR of around 6% during 2018-2023.
A photoresist is an organic polymer which changes its chemical structure when exposed to ultraviolet light. Photoresists are of two types, namely, positive and negative. Positive photoresists become soluble when exposed to UV light, whereas negative photoresists become cross-linked and insoluble when exposed to UV light. Photoresist ancillaries are related products that are used along with photoresists. They can be further classified as antireflective coatings, removers, developers, etc.
One of the major growth factors of the photoresist and photoresist ancillaries market are their use in flat-panel displays. As these displays are lighter, thinner and more energy-efficient, they are preferred over other displays by the consumers, thereby stimulating the market growth.
Moreover, photoresists are used in wiring configuration in multi-layered semiconductor manufacturing which forms an indispensable part of computers, laptops, music players, phones, servers and household appliances. Increasing demand for these products has created an attractive market for photoresists globally. Further, technological advancements in display technology and growth in the semiconductor industry will boost the demand for photoresists and photoresist ancillaries in the coming years.