1 Semiconductor Thinner Market Concentration Rate
The standard tools of competition economists and competition authorities to measure market concentration are the Herfindahl-Hirschman Index (HHI) and the concentration ratios (CR(n)).
The Herfindahl-Hirschman Index (HHI) is a common measure of market concentration that is used to determine market competitiveness. The Herfindahl-Hirschman Index (HHI) is a commonly accepted measure of market concentration. It is calculated by squaring the market share of each firm competing in a market and then summing the resulting numbers. It can range from close to zero to 10,000.
The concentration ratio is the percentage of market share owned by the largest n firms in an industry, where n is a specified number of firms. In this report, we present the CR5, means the market share of the five largest firms.
Below table details the market concentration ratio in the past three years. The top five manufacturers held 78.98% of the market, in terms of Semiconductor Thinner revenue in 2022.
Table Semiconductor Thinner Market Concentration Rate (2018-2023) (CR5 and HHI)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
TOK | 22.94% | 22.97% | 22.56% | 23.21% | 23.61% | 23.49% |
Dongjin Semichem | 17.65% | 17.69% | 17.40% | 17.14% | 17.25% | 17.43% |
Dow | 16.37% | 16.10% | 16.36% | 15.99% | 16.00% | 16.18% |
ENF Technology | 12.66% | 12.46% | 12.50% | 12.57% | 12.50% | 12.52% |
DuPont | 9.53% | 9.39% | 9.42% | 9.41% | 9.63% | 9.57% |
CR5 | 79.14% | 78.59% | 78.24% | 78.32% | 78.98% | 79.18% |
HHI | 0.1356 | 0.1343 | 0.1324 | 0.1335 | 0.1360 | 0.1366 |
2 TOK
TOK (Tokyo Ohka Kogyo), a pioneering company in the fine chemicals field since its establishment in 1940, is a leader in the global market with its advanced technology and innovative spirit. The company has manufacturing facilities in Japan, the U.S., Korea, and China, and sells its products worldwide. TOK specializes in the development of high-purity chemicals and high-performance photoresists, which are critical in the manufacturing of semiconductors and display technologies. Its product line includes products such as OK73 Thinner™ for photoresist dilution and edge removal, which are favored in the marketplace for their superior cleaning performance and safety. TOK not only has a reputation for delivering high-quality products, but is also committed to diversifying its supply chain by increasing production in South Korea and Taiwan in response to the growing demand for semiconductor materials in the global marketplace.
Table TOK Profile
Item | Profile |
Company Name | TOK |
Website | |
Established Time | 1940 |
Plants Distribution | Japan, USA, Korea and China |
Sales Region | Worldwide |
Competitors | Dongjin Semichem |
Contact Information | Tel: +81-44-435-3000 Add: 150 Nakamaruko, Nakahara-ku, Kawasaki-shi, Kanagawa 211-0012 |
Table Semiconductor Thinner Product Profiles, Application and Specification
|
Thinner for Positive Photoresist OK73 Thinner™ is a safe photoresist thinner with excellent cleaning properties. Applications Cleaning of photoresist wafer edges, back surface cleaning, and coater cup cleaning. OK73 Thinner™ Effects Resist THMR™-iP3100 Film Thickness: 1μm Pre-bake: 90℃, 90sec Edge Rinse 50cc/min, 0.6kg/cm2 Back Rinse 100cc/min, 0.6kg/cm2 |
TOK’s semiconductor thinner sales data from 2018 to 2023 reveals a positive growth trajectory for the company’s performance. In 2018, TOK achieved sales of 18.20 kilotons, setting the stage for the period. Subsequently, the company’s sales volumes climbed each year, increasing slightly to 18.59 kilotons in 2019, demonstrating stable market performance. Moving into 2020, TOK maintained its growth momentum despite the global economy being affected by the epidemic, with sales increasing to 19.32 kilotons. Over the next few years, the company’s sales growth accelerated, reaching 21.75 kilotons in 2021, further increasing to 23.11 kilotons in 2022, and by 2023, TOK’s sales reached 24.88 kilotons, the highest in a six-year period.
Between 2018 and 2023, TOK’s semiconductor thinner price data demonstrates a year-over-year upward trend, reflecting market demand for high-quality products and changes in raw material costs. In 2018, TOK’s product price was $6,194/ton, followed by a slight decline in 2019 to $6,123/ton, demonstrating the volatility of the market. Moving into 2020, prices recovered to $6,640/ton, demonstrating the Company’s ability to respond to market challenges. in 2021, prices continued to rise to $7,932/ton, a significant increase reflecting strong demand from the semiconductor industry and the increased value of TOK’s products. prices climbed further in 2022 to $9,165/ton, and then in 2023 to $9,445 USD/ton, signaling the company’s success in maintaining high margins and market competitiveness.
TOK’s semiconductor thinner revenue figures for the period 2018 to 2023 show how well the company is performing financially and how well it is expanding in the market. In 2018, TOK’s revenues stood at $112.73 million, marking a solid starting point. Subsequently, the company’s revenues edged up to $113.80 million in 2019, showing steady growth momentum. Moving into 2020, TOK’s revenues grew to USD 128.31 Million despite challenges in the global economy, demonstrating the company’s resilience and ability to adapt to the market. In 2021, revenues grew significantly to USD 172.49 Million, reflecting increased demand in the marketplace and the competitiveness of the company’s products. TOK’s revenues further increased to USD 211.82 Million by 2022, and the by 2023, the company’s revenue reached USD 234.98 Million.
TOK’s gross margin figures for the period 2018 to 2023 reveal its profitability and cost-control efficiency. In 2018, TOK’s gross margin stood at 35.31%, a figure that fluctuated slightly in subsequent years but remained generally stable. In 2019, the gross margin declined slightly to 34.94%, which could be attributed to either rising costs or increased competition in the market. By 2020, the gross margin declined again to 34.71%. In 2021, the gross margin rebounded to 35.09%, demonstrating the company’s efforts to optimize its cost structure and improve efficiency. In 2022, the gross margin declined slightly to 34.35%, and by 2023 the gross margin stood at 34.33%. Maintaining a relatively stable range over the years shows that TOK is resilient in maintaining its profitability.
Table TOK Semiconductor Thinner Sales Volume, Revenue, Price and Gross Margin (2018-2023)
TOK | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Sales (K Tons) | 18.20 | 18.59 | 19.32 | 21.75 | 23.11 | 24.88 |
Price (USD/Ton) | 6194 | 6123 | 6640 | 7932 | 9165 | 9445 |
Revenue (M USD) | 112.73 | 113.80 | 128.31 | 172.49 | 211.82 | 234.98 |
Gross (M USD) | 39.80 | 39.76 | 44.53 | 60.53 | 72.76 | 80.67 |
Gross Margin | 35.31% | 34.94% | 34.71% | 35.09% | 34.35% | 34.33% |
3 Dongjin Semichem
Dongjin Semichem, since its establishment in 1967, has grown to become a pioneer in the Korean fine chemical materials industry, with a particular leadership position in the electronic materials sector. The company has extensive production facilities worldwide, including Korea, China and Indonesia, and its products primarily serve the Asian, European and North American markets. Dongjin Semichem is known for its highly efficient semiconductor photoresist diluents, which play a key role in semiconductor and display manufacturing processes, particularly in the Edge Resist Removal (EBR) and Resist Reduction Coating (RRC) processes. (RRC) processes. The company’s products not only improve productivity, but also reduce the amount of photoresist used through special formulations, resulting in lower costs and improved environmental performance. Dongjin Semichem’s innovative technologies and solutions have made it a key player in the global semiconductor materials supply chain.
Table Dongjin Semichem Profile
Item | Profile |
Company Name | Dongjin Semichem |
Website | |
Established Time | 1967 |
Plants Distribution | South Korea, China and Indonesia |
Sales Region | Mainly in Asia, Europe and North America |
Competitors | Dow |
Contact Information | Tel: +82-31-8055-2426 Add: 23rd Floor, 402 World Cup Buk-ro, Mapo-gu, Seoul |
Table Semiconductor Thinner Product Profiles, Application and Specification
Thinner After the photoresist is coated, it is used in the EBR (Edge Bead Removal) process for removing glue on the edge of wafer. Also through the RRC (Resist Reduced Coating) process, the use of glue can be reduced. The company uses a special blend thinner that can reduce the volume of the photoresist by 50 percent compared to normal thinners. |
Dongjin Semichem semiconductor thinner sales volume for the years 2018 to 2023 show a steady growth in its business. In 2018, the company’s sales volume stood at 14.88 kilotons, followed by an upward trend each year, increasing marginally to 15.15 kilotons in 2019, reflecting the company’s steady performance in the market. In 2020, the sales volume increased to 15.86 kilotons. In 2021, the sales volume further increased to 17.53 kt. In 2022, the sales volume reached 18.50 kt. and in 2023, the sales volume reached 19.86 kt, a record high in recent years.
In 2018, the average selling price of the company’s products was US$5,831/ton, followed by price increases each year and a decrease to US$5,785/ton in 2019. By 2020, prices rebounded and increased further to $6,239/ton, demonstrating the Company’s responsiveness to market dynamics. By 2021, prices increased to $7,265/ton, a significant increase that could be linked to the surge in demand from the global semiconductor industry. 2022 saw prices break through $8,000/ton and continue to rise to $8,364/ton, and by 2023, the average selling price reached $8,779/ton, the highest point in the six years. This trend also hints at the tightness of the global semiconductor materials market and upward cost pressures.
In 2018, Dongjin Semichem reported revenues of $86.74 million, which set the stage for growth in subsequent years. Subsequently, the company’s revenues grew marginally to USD 87.64 Million in 2019, showing stable market performance. In 2020, Dongjin Semichem’s revenues grew to USD 98.97 Million, despite challenges in the global economy. In 2021, the company’s revenues further increased to USD 127.38 Million. In 2022, the revenues reached USD 154.76 million in 2022 and by 2023, the company realized revenues of $174.32 million.
Dongjin Semichem’s gross margin stood at 34.21% in 2018, the data that declined slightly in subsequent years to 34.08% in 2019, reflecting possible cost increases or increased competition in the market. Moving into 2020, the gross margin declined further slightly to 33.91%, with the Company demonstrating a continued focus on cost control despite the uncertainty facing the global economy. In 2021, the gross margin recovered slightly to 33.97%. In 2021, the gross margin recovered slightly to 33.97%. 2022 and 2023, the gross margin maintained its downward trend to 33.48% and 32.54% respectively.
Table Dongjin Semichem Semiconductor Thinner Sales Volume, Revenue, Price and Gross Margin (2018-2023)
Dongjin Semichem | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Sales (K Tons) | 14.88 | 15.15 | 15.86 | 17.53 | 18.50 | 19.86 |
Price (USD/Ton) | 5831 | 5785 | 6239 | 7265 | 8364 | 8779 |
Revenue (M USD) | 86.74 | 87.64 | 98.97 | 127.38 | 154.76 | 174.32 |
Gross (M USD) | 29.68 | 29.87 | 33.56 | 43.27 | 51.81 | 56.72 |
Gross Margin | 34.21% | 34.08% | 33.91% | 33.97% | 33.48% | 32.54% |
