Report : Europe Photoresist Process Chemicals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Solvents, Binders, Sensitizer, and Others), and Application (Microelectronics, Printed Circuit Boards and Others)
Solvents Segment to Dominate Europe Photoresist Process Chemicals Market during 2020-2028
According to a new market research study on “Europe Photoresist Process Chemicals Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Product Type, Application and Country,” is expected to reach US$ 865.38 million by 2028 from US$ 607.26 million in 2020. The market is estimated to grow at a CAGR of 4.5% from 2020 to 2028. The report provides trends prevailing in the Europe photoresist process chemicals market along with the drivers and restraints pertaining to the market growth. Expansion of the semiconductor industry and an upsurge in the penetration of internet of things (IoT) and connected devices are the major factors driving the growth of the Europe photoresist process chemicals market. However, the volatility in the prices of raw material may hinder the growth of Europe photoresist process chemicals market.
In case of COVID-19, in Europe, especially France, witnessed an unprecedented rise in number of coronavirus 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 Europe countries, i.e., Russia, 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.
The market for Europe photoresist process chemicals is segmented into product type, application and country. Based on product type, the market is segmented into solvents, binders, sensitizer and others. In 2019, the solvents segment held the largest share in Europe photoresist process chemicals market. Based on application, the Europe photoresist process chemicals is bifurcated into microelectronics, printed circuit boards and others. The printed circuit boards segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Europe photoresist process chemicals market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Europe countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for photoresist process chemicals.
Tokyo Ohka Kogyo Co., Ltd.; Tokuyama Corporation; Dupont; Allresist GmbH, Microchemicals Gmbh; and Sumitomo Chemical Co., Ltd. are some of the leading companies in the Europe photoresist process chemicals market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Europe Photoresist Process Chemicals Market as follows:Europe Photoresist Process Chemicals Market – By Product Type
- Printed Circuit Boards
- Rest of Europe
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