Photomask Market to Reach US$ 5.9 Bn at a CAGR of 4.5% in 2027

Photomask Market to 2027 - Global Analysis and Forecasts by Type (Reticle, Master Mask, Copy Mask); Application (Semiconductor and IC, Discrete, Optoelectronics, Display Device, MEMS, and Others); End-User Vertical (Semiconductor & IC, Flat Panel Display)

Publication Month : Nov 2019

  • Report Code : TIPTE100000388
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 151
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The photomask market was valued at US$ 4.02 billion in 2018 and is projected to reach US$ 5.9 billion by 2027; it is expected to grow at a CAGR of 4.5% during 2019-2027.

Photomasking is a process used in the microlithography process for manufacturing of Integrated Circuits (ICs), Micro Electro Mechanical devices (MEMS), semiconductors, PCB and photonic devices. Popularly the photomask is called as the master copy for patterning as it acts like a negative film in photography. With the process of photolithography, photomasks transfer the pattern onto the baseplates of circuit boards. The design in a photomask consists of binary pattern that replicates the original design which needs to be imprinted on the baseplate or the circuit board. The binary pattern on the photomask modulates the intensity of light in the lithography process to print the design on the substrate or the silicon wafer being used. The photomask itself is made using a glass substrate or fused silica that is coated with an opaque film.

The short lifecycles of electronic devices, high memory requirements in small storage memory chip sizes are a few factors that are bolstering the market growth for photomasks well as the increasing adoption of those tools in semiconductor manufacturing industries, particularly in developing economies, resulting increase in demand for photomasks. Many companies such as Nippon Filcon Co Ltd., Taiwan Mask Corporation, Hoya Group, Photronics Inc., Toppan photomasks among others are investing in photomask owing to the potential improvements related to accuracy, operational efficiency and timely order fulfilment thereby, helping them to enhance customer retention rate and compete efficiently in the market.

Factors such as the shift in display of mobile devices from LCD to LED and AMOLED along with penetration of IoT concept is increasing the demand for FPD (Flat Panel Display) along with IC photomask as new design requires a new set of photomask. Additionally application of MEMS systems (Microelectromechanical) in the automotive, consumer electronic and Bio-MEMS industry is also going to generate a strong demand pull for newer set of photomask. Increasing mask complexity is also going to drive more mask layers per set tighter geometries on each layer in the photomask market

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Lucrative Regions for Photomask Market
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Market Insights–Photomask Market

Growth of Manufacturing Sector Using Semiconductor Devices in Asia Pacific

Abundant manpower resource and natural resources make Asia Pacific as one of the most ideal places for setting up manufacturing plants. Being a region dominated by developing countries, technological advancements in Asia Pacific are gradually taking pace with the help of western influence. As a result, the manufacturing plants are seeking for a paradigm shift from traditional methods of operations to achieve better cost and operational efficiencies. The manufacturing sector for consumer electronics, automobiles, textiles, consumer goods etc. are the largest contributors towards the flourish of the sector.

Incorporation of automation in the manufacturing sector is possible only with the help of high power semiconductors and IC chips. In a bid to meet the global demands, the production capacity of the manufacturing plants need to be stepped up and the number of semiconductor devices incorporated in the machines will also increase parallel to this. Moreover, Governments in China, India, Japan and Singapore have been supporting in-house manufacturing with programs such as “Make-in-India”. Programs of these kinds ensure huge influx of investments into the economy. Investments enable adoption of high-end technologies.

Photomask tools for ensuring the availability of these semiconductors and ICs will also be highly in demand and the market for photomasks would thus be driven with booming manufacturing sector of Asia Pacific.

Type Segment Insights

Based on type, the photomask market is segmented into reticle, master mask and copy mask. Different type of photomasks plays a major role in providing assistance for the production ICs and other semiconductor chips. Also, for the mass production of TFT array and color filter of TFT-LCD panels, the photolithography technology transfer photomask graphics onto the base material of the LCD panels.

Application Segment Insights

Based on application, the photomask market is bifurcated into semiconductor and ic, discrete, optoelectronics, display device, mems, and others. Photomasks find their largest applications in the manufacture of semiconductors. A set of photomasks is required to produce a complete semiconductor material. The photomask is protected by in this case is protected by a foil which is called pellicle to avoid any contamination to the chip board. The image carved on the photomask is then imprinted on the chip board by laser lithography or e-beam lithography.

End User Vertical Segment Insights

Based on application, the photomask market is bifurcated into semiconductor & IC and flat panel display. Photomasks find their largest applications in the manufacture of semiconductors. As per Ohio research, nearly 90% of all household devices are manufactured through silicon wafers, whereas 30% of different toys and 45% of industrial machines are developed and manufactured by incorporating silicon wafers. A large amount of applications mentioned above clearly depicts an upsurge in the sales silicon wafer globally. Therefore, to successfully and timely meet the global demand from diversified markets, the process of wafer manufacturing is rising, which is expected to penetrate the marker of photomask also.

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Photomask Market: Strategic Insights

Market Size Value inUS$ 4.02 Billion in 2018
Market Size Value byUS$ 5.9 Billion by 2027
Growth rateCAGR of 4.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

2019:Photronics, Inc. opened two new manufacturing facilities for IC and FPD in China. The company invested around US$ 320 Mn to establish these facilities. These facilities are dedicated to R&D, manufacturing, and sale of photomasks in China.
2018:Toppan Photomasks made an additional investment at its existing Toppan Photomasks Company Limited, Shanghai facility for the mass production of advanced photomasks.
2017:DNP along with Photronics, Inc. formed a Joint Venture to serve China’s semiconductor manufacturers. According to the agreement, DNP’s subsidiary will acquire 49.99% of the company’s wholly-owned subsidiary in China to form Photronics DNP Mask Corporation Xiamen (PDMCX). Photronics will maintain 50.01% of the ownership of the new company.

The Global Photomask Market has been Segmented as Follows:

Photomask Market – by Type

  • Reticle
  • Master Mask
  • Copy Mask

Photomask Market – by Application

  • Semiconductor and IC
  •  Discrete, Optoelectronics
  •  Display Device
  • MEMS
  • Others

Photomask Market – by End User Vertical

  • Semiconductor & IC
  • Flat Panel Display

Photomask Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM  

Photomask Market – Companies Profiles

  • Advance Reproductions Corporation
  • Compugraphics International Limited
  • Dai Nippon Printing Co., Ltd.
  • HOYA Corporation
  • LG Innotek Co., Ltd.
  • Nippon Filcon Co., Ltd.
  • Photronics, Inc.
  • SK-Electronics Co., Ltd.
  • Taiwan Mask Corporation (TMC)
  • Toppan Printing Co, Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, End-User Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Nippon Filcon Co Ltd.
  2. Taiwan Mask Corporation
  3. Hoya Group
  4.  Photronics Inc.
  5. Toppan photomasks
  6. Dai Nippon Printing Co. Ltd.
  7. Advance Reproductions
  8. SK-Electronics
  9. Compugraphics
  10. LG Innotek

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

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  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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