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Photoresist is a photosensitive material used in several process like photolithography and photoengraving to form an outlined surface. This process holds great importance in electronic industry. A printed circuit board is advice mechanically supports and connects the circuit electrically with the components. Components are usually soldered into the PCB by using photoengraving technique. The process of photo resisting begins with coating the substrate with a photo sensitive organic material. This circuits are used in all simple and complex electronics.
The increasing demand from electronic sector for PCB photoresist is likely to boost the market. These photoresist units are used in many of the appliances hence, the increasing demand for electronics from across the world is expected to create constructive impact on the market. Additionally, the increasing adoption of photolithography in electronics allows complex wiring which is anticipated to drive the market.
However, growth of the PCB Photoresist market is expected to limit due to high generation of E-waste. Adoption of technological advancement in shall cause the downfall in demand for previously manufactured products which is likely to create more E-waste.
Key Market Driver -
Increasing demand from construction and automotive industry.
Key Market Restraint -
Generation of E-waste may hamper the market
Based on type, the market is segmented into positive and negative. Based on application, the market is segmented into household appliances, electronic gadgets and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global PCB photoresist market consists of global & regional players operating. Some of the key players in the market include Dow chemical company, DuPont, Merck Group, Fujifilm Electronic Materials, Sumitomo, Shin-Etsu Chemical, LG Chem, Tokyo Ohka Kogyo, JSR Corporation and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to be the largest market due to the large manufacturing base in China and Taiwan. Besides, the growing demand from other Asian countries like India, South Korea and Japan is likely to boost the regional market. North America is expected to show significant growth due to the technological advancements and developments in the electronics sector. The rapid industrialization in the European countries like Germany, France and Italy is anticipated to raise the demand. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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