Photomask Market to Grow USD 5457.2 Million by the end of 2027, with a CAGR of 3.8% | Valuates Reports
BANGALORE, India, Aug. 11, 2022 /PRNewswire/ -- Photomask Market is segmented By Type (Quartz Mask, Soda Mask, Toppan, Film), By Application (Semiconductor, Flat Panel Display, Touch Industry, Circuit Board) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Computers & Electronics Category.
Photomask Market size was USD 4171 Million and it is expected to reach USD 5457.2 Million by the end of 2027, with a CAGR of 3.8% during 2021-2027.
Major Factors Driving the Growth of Photomask Market
The growing penetration of consumer electronics and the continuous development of semiconductors will drive the growth of the market during the forecast period.
The advent of flat panel displays, miniaturization of chips, and circuit boards, along with the emergence of IoT will fuel the market growth in the coming years.
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TRENDS INFLUENCING THE GROWTH OF THE PHOTOMASK MARKET
Digitization is accelerating rapidly through the continuous evolution of technologies such as artificial intelligence, automotive, power, and 5G networks. Semiconductors are at the heart of it playing a key role in the expansion of these industries. This fuels the need for photomasks for semiconductor fabrication in turn driving the growth of the photomask market. Additionally, the proliferation of IoT sensors has given rise to smart connected devices like TVs, laptops, and cars which require multiple masks during production. The arrangement of circuits and chips is transmitted accurately.
The short lifespan of electronic devices and high memory requirements is bolstering the need for miniaturization and shorter chip sizes. Many companies are investing in photomasks due to improvements in operational efficiency, high accuracy, and timely order fulfillment. This will drive the growth of the photomask market during the forecast period. The shift in the display from LCD to LED, AMOLED, and demand for flat panel displays is driving the need for a newer set of photomasks. This will boost the growth of the photomask market in the coming years.
Photomasks help in the miniaturization of smart device chips and computers. Creating precise images and specific general arrangements without a lithographic process is impossible. Hence newer systems are being introduced to handle the manufacturing of wireless computing devices. This will aid in the expansion of the global photomask market. 193nm extensions are being extended and ultraviolet lithography with multiple patterning/exposure technologies is being bought in the industry.
Photomasks are extremely useful. However, there are certain issues. The equipment is expensive and is limited by the wavelength of light as it can be done only on flat substrates. This will hamper the growth of the photomask market. The process needs to be undertaken in a clean room that is free from airborne particulate and chemical contaminants.
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PHOTOMASK MARKET SHARE ANALYSIS:
Based on type, the soda mask segment is expected to dominate in the photomask market share with 40%.
Based on application, the semiconductor segment will witness considerable growth due to the rising adoption of these tools by semiconductor manufacturing companies.
Based on region, Asia-Pacific will grow the highest during the forecast period due to high production and consumption in the semiconductor industry. China is the largest with a market share of 25% followed by Japan and the US both having a total share of 45%.
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- Fine Pixel Pitch LED Displays market size is estimated to be worth USD 2928.1 million in 2022 and is forecast to a readjusted size of USD 4106.7 million by 2028 with a CAGR of 5.8% during the review period.
- RF Power Semiconductor market size is estimated to be worth USD 21010 million in 2022 and is forecast to be a readjusted size of USD 34660 million by 2028 with a CAGR of 8.7% during the review period.
- Power Semiconductor market size was USD 43750 million and it is expected to reach USD 62800 million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period 2021-2027.
- The global Semiconductor Manufacturing Equipment market size is projected to reach USD 53200 million by 2027, from USD 39510 million in 2020, at a CAGR of 3.9% during 2021-2027.
- Outdoor LED Displays market size is estimated to be worth USD 12290 million in 2022 and is forecast to be a readjusted size of USD 19290 million by 2028 with a CAGR of 7.8% during the review period.
- Flexible Printed Circuit Board market size is estimated to be worth USD 13130 million in 2022 and is forecast to be a readjusted size of USD 15760 million by 2028 with a CAGR of 3.1% during the review period.
- Semiconductor Photomask market size was USD 4352 million and it is expected to reach USD 6203.3 million by the end of 2027, with a CAGR of 4.5% during 2021-2027.
- Automotive Semiconductor market size is projected to reach USD 42140 million by 2028, from USD 31430 million in 2021, at a CAGR of 3.8% during 2022-2028.
- IoT in Manufacturing market size is projected to reach USD 1148.9 million by 2028, from USD 550.2 million in 2021, at a CAGR of 10.6% during 2022-2028.
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