材料汇·2026-01-26 15:08Core Viewpoint - The global photoresist market is steadily growing, with the market size expected to reach $12.6 billion by 2026, while China's market is projected to reach 15.2 billion RMB [6][7][8]. Market Size and Growth - In 2022, the global photoresist market surpassed $10 billion, and China's market size was nearly 10 billion RMB [6]. - The global photoresist market is forecasted to grow at a CAGR of approximately 12% from 2022 to 2026 [7]. - China's photoresist market is expected to grow at a CAGR of around 22% during the same period [8]. Product Structure and Applications - China's photoresist production capacity is concentrated in lower-end products, particularly PCB photoresists [6]. - The downstream applications of photoresists in China include display panels (43.1%), semiconductor (16.1%), and others [10]. Industry Drivers - The demand for photoresists is driven by the expansion of wafer fabs, the rise of AI technologies, and the need for domestic substitution due to supply chain security concerns amid US-China trade tensions [11][12]. - The rapid growth of AI and the expansion of wafer fabs are expected to significantly increase the demand for advanced photoresists [11]. Policy Support - Policies are focused on promoting domestic production of photoresists and reducing reliance on imports, especially in high-end segments [13][14]. - Various government initiatives have been introduced to support the development of key materials, including tax incentives for companies involved in photoresist production [15]. Industry Barriers - The photoresist industry faces significant barriers, including long product validation cycles, reliance on proprietary technologies, and dependence on imported raw materials and equipment [16][17]. - The production of high-end photoresists is particularly challenging due to stringent customer certification requirements and the complexity of manufacturing processes [18]. Domestic Production and Market Share - Domestic companies are gradually increasing their market share in the photoresist sector, with some achieving significant penetration in the PCB and solder mask markets [34][36]. - Major domestic players include Rongda Photoresist, which has established a strong presence in the PCB photoresist market [41][42]. Future Trends - The photoresist market is expected to continue evolving with advancements in technology and increasing domestic production capabilities [24][33]. - The shift towards higher-end applications and the need for more sophisticated photoresist materials will drive innovation and competition in the industry [12][56].