Photomask Market: What Was the COVID‑19 Impact and How Is It Affecting Market Dynamics Now?

Photomask Market Set for Healthy Growth Through 2030

Photomask Market was estimated at USD 4.95 billion in 2023, projected to reach USD 6.18 billion by 2030, at a CAGR of ~3.21% from 2024 to 2030. Rising demand from semiconductors, flat-panel displays, MEMS, automotive, consumer electronics, and deployment of EUV technology are key drivers.

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Region-wise Insights & M&A Developments

United States – Growth & Opportunity

The North America photomask market hit around USD 1.6 billion in 2023, projected to reach USD 2.2 billion by 2032.

• Opportunity: Surge in EUV adoption; US advanced photomask segment was USD 987 million in 2024, with an 8.5% CAGR expected through 2030.
• Consolidation: Captive mask shops (e.g., Intel, TSMC, Samsung) continue internalizing production, reducing dependence on merchant suppliers .
• Trends: Strong investment in EUV reticles and “High‑NA” mask development, including collaborative R&D with IBM for 2 nm node.

Asia Pacific – Trends & Growth

Asia Pacific held the largest share (36–40%) in 2024 and remains the leading region.

• Growth: Market size ~USD 1.9 billion in 2023, anticipated to grow steadily through 2032.
• Opportunity: Expansion of semiconductor foundries (TSMC, Samsung, SMEE, Huawei); governmental support in China and Taiwan. Strong demand for advanced reticles and EUV blanks.
• Trends: EUV masks adoption, scaling to High‑NA processes, doubled reticle formats—industry-wide push led by ASML and Intel r.

Europe – Trends & Consolidation

Europe’s photomask market, valued at roughly USD 0.8 billion in 2023, is forecast to reach USD 1.1 billion by 2032.

• Trends: Focus on specialist and MEMS reticles; small volume but high precision. Incentives for EU-based photomask production post geopolitical disruptions.
• Consolidation: Joint European R&D efforts and partnerships, notably Tekscend Photomask (formerly Toppan)’s collaboration with IBM on EUV masks.

Middle East & Africa – Growth & Updation

MEA held a lower base (~USD 70 million in 2023) but notable CAGR and emerging opportunities .

• Opportunity: Growing electronics and defense sectors in the Gulf and South Africa. Increasing upstream strategy focusing on local semiconductor processing and photomask access.
• Updation: Regional mask shops diversifying into MEMS and display reticles; strategic alliances with European vendors to localize precision mask capacity.

Key Recent Developments

• Feb 2024: Tekscend Photomask (ex-Toppan) announced a joint R&D agreement with IBM for EUV and 2 nm node mask development.
• 2023: Industry push towards double-size rectangular reticles to support High‑NA processes—endorsed by ASML, Intel, and others.
• Ongoing R&D in EUV pellicle materials (e.g., carbon-nanotube based films) to improve mask longevity.

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Photomask Market Segment Analysis:

by Product Type

Quartz mask
Soda mask
Toppan
Film

by Application

Semiconductor
Flat panel display
Touch industry
Circuit board

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Photomask Market Key Players are:

Hoya
Dai Nippon
SK-Electronics Co.Ltd.
Toppan Photomasks
Photronics
LG Innotek
Compugraphics Photomask Solutions
Taiwan Mask
Infinite Graphics Incorporated
Nippon Filcon
HTA Photomask
Shenzhen Qingyi Photomask
Plasma Therm
Lasertec Corporation
PKL
IGI
HTA
Applied Materials, inc.
Advance Reproductions Corporation
Mycronic

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