PUBLISHER: Grand View Research | PRODUCT CODE: 1575092
PUBLISHER: Grand View Research | PRODUCT CODE: 1575092
The global photomask market size was estimated at USD 5.11 billion in 2023 and is estimated to grow at a CAGR of 4.7% from 2024 to 2030. This growth is attributed to the rapid growth in industries like consumer electronics, automotive, and telecommunications which is driving the demand for semiconductors, hence fueling the market growth. Photomasks play a critical role in semiconductor fabrication, and this rising demand, especially for chips used in 5G, artificial intelligence (AI), and the Internet of Things (IoT), is driving product growth.
The development of advanced lithography techniques, such as Extreme Ultraviolet Lithography (EUV), is further boosting the photomask market. EUV is essential for manufacturing next-generation semiconductors with smaller nodes, which are used in advanced processors and memory chips. Additionally, increasing popularity of high-resolution displays, including OLED and LCD technologies for televisions, smartphones, and wearables, is driving demand for photomasks. The display sector requires precise photomasks for manufacturing cutting-edge screen technologies.
The manufacturing process of photomasks, especially for smaller technology nodes, is highly complex and requires stringent precision, which may negatively impact the market growth. Any defects in the masks can lead to costly errors in semiconductor production process, creating additional hurdles for manufacturers. Furthermore, one of the significant restraints in photomask market is the high cost of producing advanced photomasks, particularly those used in EUV lithography. The technology requires significant investment, which can limit market expansion, especially among smaller semiconductor manufacturers.
As the automotive industry moves toward electrification and autonomous driving, the demand for semiconductor components, such as sensors, cameras, and control units, is rising. The rise of electric vehicles (EVs), autonomous driving technologies, and advanced driver assistance systems (ADAS) have expanded the use of photomasks in the automotive sector. This presents an opportunity for photomask producers to expand their market share in the automotive sector over coming years.
Furthermore, photomask market is growing rapidly due to increasing demand for miniaturized and precise components across industries. Advancements in semiconductors, consumer electronics, automotive technologies, and telecommunications are driving the development and need for photomasks in optical devices, discrete components, displays, and MEMS. The ongoing innovations and expansion of these sectors are expected to continue pushing the photomask market forward.
Global Photomask Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global photomask market report on the basis of product, application, and region: