Analysis of Resist Strip System Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest report by Fact.MR, the global resist strip system market is envisaged to escalate significantly at a CAGR of more than 6% over the forecast years 2021-2031.
Resist Strip system sales are predicted to expand modestly in the short term, but to explode in the long run. Western countries' demand for resist strip system is predicted to grab attention and boost expansion, resulting in the greatest potential conclusion.
The rising use of semiconductors in different end-use industries such as healthcare, automation technology has fostered the demand for the resist strip system leading to an elevated growth.
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The escalating demand for various automated products of healthcare and home appliances has boosted the sales of resist strip in the manufacturing units as it reduces the chances of error, providing benefits to the electronic industries manufacturers.
For various purposes such as automobile navigation and display, infotainment, collision detection technology, GPS, anti-breaking system, and driving, automation technology necessitates a significant number of chips to be placed in vehicles.
One of the primary drivers for market expansion during the projection period is the advancement of automation technology in the automobile industry. The automotive industry's demand for semiconductor wafers has risen quickly in recent years, owing to the growing demand for vehicles with effective guidance and drive control systems.
The demand for semiconductor wafer fabrication techniques, such as photoresist strippers, will grow dramatically over the next four years as the demand for automobiles with sophisticated functions rises.
The alteration of technologies such as IoT (Internet-of-Things) is creating a trend in the market as it helps in transferring data without wire to the network and helps in connecting the electronic devices to computers.
IoT would necessitate the incorporation of modern semiconductor components such as processors, chips, and micro-controllers into devices in order to achieve automation.
The demand for photoresist stripping will rise as the Internet of Things (IoT) necessitates microcontrollers and specialized ICs that deliver maximum performance output with minimal power consumption. Photoresist stripping aids in the increase of IC chip quality and performance.
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The COVID-19 epidemic has had a significant impact on the sales and demand for various equipment, resulting in a slowing of the resist strip system market growth. Demand and supply have been impeded by the pandemic, resulting in increasing economic sufferers for manufacturing firms.
Various government rules were enacted to control the spread of the virus, which resulted in corporate expansion being stifled. To keep the virus from spreading further, the government has taken defensive measures at several levels, including tracking trades practices in badly afflicted areas.
The lockdown phase of the COVID-19 second wave has begun throughout regions, however, the effect on the industry is expected to be less than a 2% growth reduction in Q2 and Q3 FY2021.
Product sales are expected to fully recover by the fourth quarter of FY2022. Sales are expected to increase at a rapid pace from the conclusion of Q4 FY2022 to the end of FY2024.
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North America, Latin America, Europe, East Asia, South Asia, and MEA are the prominent region in the report of the resist strip market. East Asia is the leading market player as China consumes more than 50% of the semiconductors.
Another reason for the increasing sales of the product is the availably of economic laborers in the region. Following East Asia, is North America which has highly developed healthcare units increasing the demand for a resist strip system.
Countries like U.S, UK, and South Korea are the leading countries for the generation of the internet of things which is creating the highest sales for the resist strip. The demand for the resist strip in the region like Europe and Latin America is expected to increase due to the inclination of the manufacturers towards the rising automation and technologies.
According to Commissioner for Internal Market Thierry Breton, Europe accounts for less than 10% of global semiconductor production which is insufficient to meet the European market.
Strong projections of swollen European economies with high financial barriers are encouraging resist strip system manufacturers and suppliers to expand their business, boosting the global market. South Asia and MEA are holding the smaller chunk of the market due to unskilled laborers and late adaption of technologies in these regions.
The prominent players of the market are
The resist strip market is proceeding in a consolidated manner due to high installation and manufacturing costs. The increased shifting of the manufacturers towards this technology is due to less emission of silicon dioxide during the process as ingestion of silicon dioxide can lead to lungs diseases.
Furthermore, economies of scale play a significant role in boosting demand for resist strips. Many manufacturers are coming together to elaborate this technology so that the demand for the product with higher efficiency could be increased.
Increased adaptability in various end-use industries, expanding urbanization and globalization around the globe, and the expansion in automation industries are just a few of the causes driving demand. In addition, there are several local sellers in the market. To acquire market share over these local competitors, the players are considering merger and acquisition strategies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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Over the forecast years 2021-2031, the global strip system market is expected to grow significantly at a CAGR of more than 6%.
The rising demand for various automated healthcare and home appliance products has boosted sales of resist strip systems, which reduces the possibility of errors.
The demand for resist strips system is expected to rise in regions such as Europe and Latin America as manufacturers concentrate their efforts to rising automation and technologies.
Samco, SUSS MicroTec Group, JST, PSK Group, PVA TePla America, Mattson Technology Inc., DuPont, etc., are the key market players.
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