Global photomask industry market is anticipated to grow at a CAGR of 3.8 %, during the forecast period (2024-2031). The market growth is driven by the increasing use of electronic devices and, rising emphasis on technological advancements such as the Internet of Things (IoT). Additionally, the significant addition of the wafer capacity at mid and mature technologies (>=14nm), will also boost the demand for photomask, contributing towards market growth.

The global photomask industry market is segmented by product type (quartz mask, soda mask, Toppan, film), by application (optical devices, discrete components, displays, mems), by end-user (semiconductor, flat panel display), by geographies (North America, Europe, Asia-Pacific, and Rest of the World).

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 Market Dynamics

• The optical devices segment held a major market share in the global photomask industry market, owing to its demand for lithography tools for the production of semiconductors. Additionally, the growth of the semiconductor industry is driving the market growth.
• The semiconductor segment held a major market share during the forecast period. The segmental growth is driven by the growing adoption of consumer electronic products, and the increasing usage of automated systems across various industry verticals. 
• Asia-Pacific is expected to hold the major market share owing to the rising semiconductor industry in the region. Furthermore, the rapid expansion of end-user industries and the growing number of manufacturing units in developing nations such as India have contributed to the market growth.

The major players in the photomask industry market include Toppan Inc., Dai Nippon Printing Co., Ltd., Photronics, Inc., HOYA Corporation, and SK-Electronics Co., Ltd. among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

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Recent Developments

• In September 2024, Nordson Advanced Technology organized the 30th international symposium on photomasks and NGL masks in Japan.
• In March 2024, Dai Nippon Printing Co., Ltd., began full-scale development of photomask manufacturing for 2-nanometer (10-9 meter) generation logic semiconductor photomask manufacturing for 2-nanometer (10-9 meter) generation logic semiconductors. The product will support Extreme Ultra-Violet (EUV) lithography, for semiconductor manufacturing.
• In February 2024, Toppan Photomask announced that it had entered into a joint research and development agreement with IBM. The agreement encompasses a 2 nanometer (nm) logic semiconductor node, using extreme ultraviolet (EUV) lithography. It also includes High-NA EUV photomask development capability on next-generation semiconductors.

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