1. Global Dry Film Market Insight Analysis
The global Dry Film market size is 1478.62 million USD in 2024, with a CAGR of 8.56% from 2024 to 2033. Dry Film, also known as dry film photoresist, is a critical material in the electronics industry, particularly in the manufacturing of printed circuit boards (PCBs) and semiconductor packaging. It is a polyester film coated with a polymer that is sensitive to ultraviolet light, used in photolithography processes for creating circuit patterns.
Figure Global Dry Film Market Size (M USD) and CAGR (2024-2033)
2. Dry Film Market Growth Drivers and Restraints
The growth of the Dry Film market is propelled by several driving factors. The electronic information industry’s steady growth provides a favorable market environment for the rapid development of the PCB industry, a key consumer of Dry Film products. The expansion of mobile Internet, the widespread application of automotive electronics, and the gradual implementation of 5G technology have created a surge in demand for high-density, high-precision, and multi-layered PCBs, thereby increasing the market demand for Dry Film. Additionally, the replacement of wiring harnesses with flexible circuit boards in vehicles and the growth in server equipment due to data traffic’s high growth trend are expected to maintain high demand for PCB products, further driving the Dry Film market.
The market also faces certain limitations. Technical barriers in Dry Film preparation, including formulation and coating technologies, present significant challenges. The industry is technology-intensive, and the differences in formulation can determine product cost and quality, while coating technology affects film uniformity, which is crucial and difficult to achieve. Furthermore, fluctuations in raw material prices, such as Polyethylene (PE), Polyester (PET), and Photoresist materials, pose risks to the stability of the supply chain and profitability of manufacturers. With the development of 5G commercialization and other technologies, the requirement for dry film products to meet the quality requirements of high-density PCBs is a challenge for companies with limited R&D capacity to upgrade their formulation and production technologies.
3. Technological Innovations and Mergers in the Dry Film Market
In the realm of technology innovation, Dry Film manufacturers are integrating advanced technologies like artificial intelligence, the Internet of Things, and machine learning to enhance production processes. This integration aims to achieve full-process control of production equipment and processes, making production parameters transparent and efficient. Corporate mergers and acquisitions have also played a significant role in shaping the market. For instance, DuPont’s acquisition of Laird Performance Materials has expanded its portfolio in flexible laminates, dry film photoresist, specialty films, and plating chemistries. Moreover, Eternal Materials’ expansion of dry film photoresist production capacity in China and Insulectro’s acquisition of East Coast Electronic Material Supply (ECEMS) demonstrate the industry’s consolidation and strategic expansion to meet the growing demand.
The high market concentration, with the top three companies—Eternal, Hitach Chemical, and Asahi Kasei—holding significant market shares, indicates the importance of scale and innovation in the industry. These companies are at the forefront of technology innovation and market expansion, often leading the way in new product launches and acquisitions. The market’s growth opportunities lie in higher product quality and affordability, but new entrants without industry chain advantages and precise supplier positioning are advised caution due to the high technical barriers and market competition.
4. Global Dry Film Market Size by Type
The Dry Film market is segmented into various product types based on the thickness of the film, which is a critical parameter affecting its application in different industries.
Thickness ≤20µm is used for applications requiring the thinnest layer of photoresist. In 2024, the market size for this product type is projected to be 157.40 M USD.
Thickness 21-29µm represents the mid-range thickness and is widely used across various PCB and semiconductor applications. It is expected to have a market size of 647.76 M USD in 2024.
Thickness 30-39µm is designed for more robust applications, this product type caters to industries requiring thicker layers of photoresist. The market size for this category is 333.68 M USD in 2024.
Thickness ≥40µm of Dry Film products, this type is used in applications where extra durability and protection are required. Despite being the least common due to its specific use cases, it still commands a market size of 339.78 M USD in 2024.
Among these, the Thickness 21-29µm product type holds the largest market share in 2024, primarily due to its versatility and wide range of applications in the electronics industry. It caters to the needs of both PCB and semiconductor packaging markets, which are the driving forces behind the Dry Film market’s growth.
Table Global Dry Film Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
Thickness ≤20µm | 157.40 | 10.65% |
Thickness 21-29µm | 647.76 | 43.81% |
Thickness 30-39µm | 333.68 | 22.57% |
Thickness ≥40µm | 339.78 | 22.98% |
5. Global Dry Film Market Size by Application
Dry Film is extensively used in the manufacturing of PCBs, which are the backbone of modern electronics. In 2024, the PCB application accounts for the largest market share, with a size of 1228.76 M USD.
As the electronics industry moves towards more compact and powerful semiconductors, the use of Dry Film in semiconductor packaging is also on the rise. This application is expected to be 186.33 M USD in 2024.
The PCB application not only has the largest market share but also exhibits the fastest growth rate due to the rapid expansion of the electronics industry and the increasing complexity of electronic devices. The demand for high-performance PCBs is driving the market for Dry Film in this application area.
Table Global Dry Film Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
PCB | 1228.76 | 83.10% |
Semiconductor Packaging | 186.33 | 12.60% |
Other | 63.53 | 4.30% |
6. Global Dry Film Market Size by Region
The Asia Pacific region emerges as the dominant player in the Dry Film market, accounting for a substantial share of the global revenue. This region, with its burgeoning electronics manufacturing industry and technological advancements, is projected to generate 1344.03 M USD in 2024.
North America, with its well-established electronics industry and continuous innovation in technology. The United States, being a key contributor to this region’s revenue, boasts a strong presence of leading technology companies and research institutions, fostering a robust market for Dry Film products. North America market is projected to generate 68.35 M USD in 2024.
Europe follows as another significant region in the Dry Film market, with Germany, France, and the United Kingdom being the key countries contributing to its market size. The region’s strong foundation in automotive and industrial electronics, along with investments in advanced materials research. In 2024, Europe market size is 48.69 M USD.
While Latin America and the Middle East & Africa regions may not command as large a market size as the aforementioned regions, they are not to be overlooked. Their market value are $10.92 million and $6.63 million.
Figure Global Dry Film Market by Region in 2024
7. Global Dry Film Market Analysis by Major Players
7.1 Eternal
Company Introduction and Business Overview: Eternal, established in 1964 and headquartered in China, is a leading global provider of high-performance materials, including resin materials and electronic materials. The company has a broad market distribution, with a presence worldwide, serving various sectors such as building and furniture, energy, transportation, healthcare and medical, electronics, packaging, and printing, among others.
Products Offered: Eternal specializes in the manufacturing of dry film photoresist, which is crucial for the production of printed circuit boards (PCBs). Their product line includes the 202J Series, known for its excellent resistance to acid etching, adhesion to lines, and flexibility, making it suitable for flexible circuit board applications.
Sales Revenue in 2024: In 2024, Eternal achieved a sales revenue of USD 401.25 million.
7.2 Hitach Chemical
Company Introduction and Business Overview: Hitach Chemical, founded in 1920 and based in Japan, is a renowned chemical manufacturer with a diverse portfolio that includes semiconductor and display-related materials, printed wiring boards, copper clad laminates, photosensitive dry films, functional polymeric materials, adhesive films, carbon products, ceramics, and automotive-related products.
Products Offered: Hitach Chemical’s dry film product, PHOTOTEC™, is recognized for its excellent sensitivity, resolution, coverage, and film strength. It is ideal for the production of printed circuit boards and displays, offering precise imaging after ultraviolet radiation and development.
Sales Revenue in 2024: Hitach Chemical reported a sales revenue of USD 249.94 million in 2024.
7.3 Asahi Kasei
Company Introduction and Business Overview: Asahi Kasei Corporation, established in 1922 and headquartered in Japan, is a major manufacturer and distributor of synthetic fibers and industrial chemical materials. The company’s product range spans from cupra fiber to polyurethane fiber, styrene monomer, acrylonitrile, polyethylene, synthetic rubber, engineering resin, and more. Asahi Kasei also has interests in real estate and healthcare businesses.
Products Offered: Asahi Kasei’s Sunfort™ dry film photoresist is a market leader in Asia, known for its superior product quality and technical support. It is used for forming circuit patterns on printed wiring boards in a variety of electronic devices.
Sales Revenue in 2024: Asahi Kasei achieved a sales revenue of USD 228.31 million in 2024.