Market Insight-Global Advanced Packaging Photoresist Products Market Overview 2024

Global Advanced Packaging Photoresist Products Market Was Valued at USD 606.20 Million in 2022 and is Expected to Reach USD 1128.42 Million by the End of 2029, Growing at a CAGR of 9.93% Between 2023 and 2029.- Bossonresearch.com

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Advanced packaging refers to the techniques beyond traditional packaging methods, such as 2.5D and 3D packaging, fan-out wafer-level packaging (FOWLP), and other innovative packaging solutions. Advanced packaging technologies require materials that will allow for better resolution of patterns associated with the ever more challenging device architecture, along with materials that will allow for higher throughput.

Advanced packaging photoresist products are specialized materials used in the photolithography process for advanced semiconductor packaging applications. Photolithography is a crucial step in semiconductor manufacturing where a pattern is transferred onto a substrate, typically a wafer or other packaging material, using photoresist materials.

The global Advanced Packaging Photoresist Products market size is projected to reach US$ 1128.42 Million by 2029 from US$ 606.20 million in 2022 at a CAGR of 9.93% during 2023-2029. 5G, smart home, Internet of Things, big data and advanced information technology has driven the growing demand for semiconductors and electronic equipment and promoted the development of the advanced packaging photoresist market. The proliferation of technologies such as advanced packaging and miniaturization, as well as continued technological advancements in emerging applications such as virtual and augmented reality, enhance market prospects. The increase in functional density of large-scale system-on-chip solutions, continued R&D investment, and advances in advanced packaging technology are also important driving forces for market development.

Driving Factors

Growing Demand in Semiconductor and Electronic Devices

With the rapid development of 5G, smart homes, the Internet of Things, big data, and the advancement of information technology, the demand for downstream applications of photoresists such as semiconductors, display panels, and PCBs is gradually increasing. The increasing demand for semiconductor and electronic devices across industries such as consumer electronics, automotive, and healthcare is a key driver. The proliferation of technologies like advanced packaging and miniaturization is creating opportunities for photoresist materials. These materials play a crucial role in supporting the fabrication of integrated circuits (ICs) and other microelectronic components.

Additionaly, the advent of new technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) has led to the creation of a new product subcategory of intelligent home devices. The use of AI-related technology has opened numerous opportunities for electronic materials manufacturers. Technology transitions like AI and IoT are rapidly driving the adoption of electronic devices, contributing to the growth of the advanced packaging photoresist market.

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Technological Advancements and Emerging Applications

Ongoing technological advancements, particularly in advanced packaging and miniaturization, are propelling the growth of the advanced packaging photoresist market. The expanding use of photoresist in emerging applications like virtual reality and augmented reality is contributing to the market's expansion. The demand for higher resolution displays and the adoption of 5G technology further enhance the market's prospects.

In terms of functional density and System on Chip (SoC) solutions, the increase in functional density in large system-on-chip solutions is a contributing factor to market growth. Continuous research and development activities aimed at developing innovative packaging solutions and meeting the demand for improved electronic device performance further accelerate the growth of the advanced packaging photoresist market.

Research and Development Investments

Increased investment in research and development is a significant driving force behind the advanced packaging photoresist market. This investment is fostering the development of new formulations and processes for advanced packaging photoresist materials, aiming to achieve higher resolution, improved sensitivity, and enhanced control over critical dimensions.

Integrated Semiconductor Components in Automobiles

Integrating semiconductor components in automobiles will drive the growth of the global semiconductor advanced packaging market. Increased demand for vehicle electrification and vehicle automation is driving the semiconductor market in this area. For example, semiconductor ICs are used in multiple functions of automobiles, such as air bag control, GPS, anti-lock braking systems, displays, infotainment systems, power doors and windows, autonomous driving and collision detection technology, etc. Additionally, semiconductor packaging technology is expected to increase the value of semiconductor products by increasing their operating functionality, improving and sustaining performance, while reducing overall packaging costs. This has also created demand for high-performance chips for various consumer electronics products, thereby increasing the demand for 3D and 2.5D packaged chips for smartphones and other mobile devices.

Key Development Trends

The Development Path of Advanced Packaging Technology

Currently, in terms of technological maturity, the mainstream technology in the global packaging industry is based on the third stage.

Mainly, it is moving towards the fourth and fifth stage packaging technologies represented by system-in-package (SiP), flip-chip packaging (FC), fan-out integrated circuit packaging (FanOut), etc.

The development trend of advanced packaging technology can be decomposed into three sub-vectors: (1) Functional diversification: packaging objects have developed from the initial single die to multiple die, and one package may have multiple die with different functions; (2) ) Connection diversification: The internal interconnection technology under the package continues to diversify, from bumping to embedded interconnection, and the density of connections continues to increase; (3) Stacking diversification: The device arrangement has gradually changed from plane to three-dimensional. Build rich stacking topologies by combining different interconnect methods. The development of advanced packaging technology has extended and expanded the concept of packaging. From wafer to system, "packaging" can be used to describe the integrated processing process.

Rapid Growth of Euv Photoresists

EUV photoresists have firmly established themselves in high volume chip production, with a projected rapid growth trajectory as new logic nodes are introduced. This is especially prominent in the production of advanced DRAM with EUV technology, fueled by the increasing deployment of ASML scanners. Simultaneously, the demand for photoresists used in "old tech" (I-line, G-line, and KrF) is anticipated to surge due to near-term chip supply constraints, with KrF resists finding increased application in the growing 3DNAND device production.

Continued Growth in The Semiconductor Industry

The sustained growth of the semiconductor industry is a major catalyst for the photoresist market. The rising demand for smaller and more complex electronic devices, including smartphones, tablets, and IoT devices, necessitates higher-performance and more precise photolithography methods. Photoresists are integral to the patterning of integrated circuits, driving the need for advanced materials.

The global production capacity construction plan is being orderly promoted. According to SEMI's "Global Wafer Factory Forecast" report released in January 2024, from 2022 to 2024, the world will invest in the construction of 82 wafer factories. According to SEMI's forecast, global semiconductor manufacturers will push up their 12 inch wafer fab production capacity to a historic high of 9.6 million wafers (wpm) per month in 2026. In 2023, due to weak demand for storage and logic chips, the expansion speed will slow down.

Surge in Demand for "Old Tech" Photoresists

Due to near-term chip supply constraints, there is anticipated growth in the demand for photoresists used in "I-line," "G-line," and "KrF" technologies. The demand for KrF photoresists is especially notable with the increasing production and layer counts in 3DNAND devices. This reflects the market's strong demand for traditional technologies alongside the fulfillment of new technological requirements.

Continuous Evolution of Photoresist Chemical Structure

The chemical structure of photoresists is evolving continually with advancements in semiconductor manufacturing. New formulations and processes are being developed to achieve higher resolution, improved sensitivity, and better control over critical dimensions. These innovations are crucial for enabling the production of smaller and more complex microdevices, pushing the boundaries of modern chemical structures.

Creation of New Chemical Structures and Applications

Emerging industries like augmented reality (AR), virtual reality (VR), and self-driving cars require better sensors, micro-optics, and MEMS devices, heavily relying on photolithography methods. Additionally, the growing use of advanced packaging technologies, such as wafer-level packaging and 3D integration, increases the demand for specialized photoresist materials capable of addressing the specific requirements of these applications.

Packaging Substrates Become Mainstream Packaging Materials

As packaging technology develops toward multi-pin, narrow pitch, and miniaturization, packaging substrates have gradually replaced traditional lead frames and become the mainstream packaging material. Wire-bonding substrates account for approximately 40% to 50% of the total packaging cost, while flip-chip substrates account for as high as 70% to 80%. Compared with other packaging materials, packaging substrates is more difficult, but it has high profits, numerous application fields, and broad market space.

With the emergence of new high-density packaging forms, many functions of electronic packaging, such as electrical connections and physical protection, are gradually being partially or fully borne by the packaging substrate. In recent years, high-density multilayer substrates have accounted for an increasing share of electronic substrates, and are increasingly used in advanced packaging.

Global Advanced Packaging Photoresist Products Market: Competitive Landscape

According to our calculations, the two indicators used to measure market concentration in 2022, CR5 and HHI, will be 72.49% and 13.39% respectively. This means that the leading manufacturers in the market occupy the largest share, but the market is not very concentrated, and manufacturers in the market are still in fierce competition. Currently, the major players in the market include Tokyo Ohka Kogyo (TOK), DuPont, JSR Corporation, Fujifilm, Sumitomo Chemical, Merck KGaA, Shin-Etsu Chemical, KemLab, Jiangsu AiSen Semiconductor Material Co., Ltd.

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