Barriers of photoresist industry chain

Photoresist industry chain covers a wide range, among which upstream raw materials are an important part of the photoresist industry. The quality of raw materials determines the quality of photoresist products. The main raw materials include resin, photoinitiator, solvent and monomer. The middle reaches are all types of photoresist, mainly divided into PCB photoresist, LCD photoresist, semiconductor photoresist; Downstream is the application field, photoresist is mainly used to manufacture printed circuit boards, flat panel displays, semiconductors and so on. Photoresist industry chain barriers are high, including raw material barriers, formula barriers, equipment barriers and downstream certification barriers.

The global semiconductor market sales in 2019 were $412.3 billion, down 12% year-on-year, mainly due to the cyclical nature of the storage market. 

Global photoresist competition pattern: the photoresist market is mainly monopolized by Japanese, American and Korean companies, and the market share of mainland enterprises is less than 10%. Among them, In the global semiconductor photoresist market, Japanese enterprises firmly occupy the leading position, accounting for at least 60%. The panel photoresist market in China is mainly occupied by foreign enterprises, accounting for 65%, and the main market is occupied by Japanese and Korean enterprises. China dominates the global PCB photoresist market, with a market share of 93.35% in 2019. In the domestic market, the market share of domestic enterprises is more than half, making PCB photoresist into the highest replacement rate of domestic photoresist products.