The market for patterning materials is expected to grow at a CAGR of more than 4% globally during the forecast period.
Companies Mentioned: Applied Materials, IncFujifilm Holdings Corporation, Honeywell Electronic Materials, Inc, JSR Micro, Inc, MacDermid, Inc, Merck KGaA, Microchem Corporation, Shin-Etsu Chemical Co., Ltd, DuPont, Tokyo Ohka Kogyo Co., Ltd
Key Market Trends
Growing Demand from the Electronics Industry
- The process of patterning is also commonly referred to as Lithography. Patterning materials are majorly being used in integrated circuits, information storage devices, display units, microelectromechanical systems (MEMS), sensors, biochips, and micro-optical components.
- Recently, the use of sensors in automotive, robots, and other electronic devices has been significantly growing. Increasing advancements in several technologies have increased the demand for patterning materials from developed countries.
- Generally, printed circuit boards, integrated circuits, microelectromechanical systems, and nanoelectromechanical systems have been augmenting the demand for newer components.
- Information storage devices have high demand around all over the world and these devices are being used in laptops, mobiles, hard drives, USBs, etc.
- Moreover, foldable smartphones are gaining popularity in the market with high storage capacities recently. After the introduction of their first model in 2018 by Samsung and Huawei, Motorola also introduced its foldable flagship phone – Moto Razr, recently in 2020.
- However, the impact of the COVID-19 lockdown is expected to decrease the usage and demand for patterning materials from the electronic sector.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market owing to the highly developed automobile sector in China, coupled with the continuous investments done in the region to advance the electronic industry through the years.
- Patterning materials play a major role in the advancements in semiconductor manufacturing technologies. China, Japan, Korea, Vietnam are the major countries in the Asia-Pacific for the production of electronic components.
- The introduction of the latest technologies and sensors to automobiles and the growing production and assembly bases for automobile components in the Asia-Pacific region in recent years are expected to provide scope for the consumption of patterning materials in the near future.
- According to the World Health Organization (WHO), globally, more than 1.55 million people are killed in road accidents every year, and about 50 million people get injured. Due to this, there is an increasing demand for safety and security in automobiles and this is one of the major factors which is impacting the growth of the market positively.
- MEMS sensors can be used extensively for controlling airbags in the event of a car accident in the automotive industry. Also, pressure sensors can be reused for monitoring refrigerators, HVAC fan control, detection of a gradual increase in pressure, detection of leaks and pressure drops, and other industrial process control applications.
- The technology growth in the automobile sector, increasing electronic components production in the Asia-Pacific region are expected to drive the market for patterning materials through the years to come.