The global display panel industry is moving to my country, and the localization process of the LCD photoresist market is accelerating

Photoresist refers to an etching-resistant thin film material that changes its solubility through irradiation or radiation such as X-rays, ion beams, electron beams, and ultraviolet light. According to different uses, photoresists can be divided into PCB photoresists, semiconductor photoresists and LCD photoresists. LCD photoresist, also known as panel photoresist, refers to the photoresist used in the production of display panels, mainly including TFT-LCD positive photoresist, touch screen photoresist, black photoresist, and color photoresist.

There are many types of LCD photoresists, and LCD color photoresists are the mainstream products in the market, accounting for nearly 60%. LCD color photoresist is the core raw material of color filters, accounting for nearly 20% of the production cost of display panels. However, at present, my country’s LCD color photoresist market has a low degree of localization and its demand is highly dependent on imports. This is the main challenge facing the development of the industry.

According to the “2023-2028 China LCD Photoresist Industry Market In-depth Research and Development Prospects Forecast Report released by the Industrial Research Center , LCD photoresist is mainly used to produce display panels. The global LCD display panel market size will reach US$109.53 billion in 2022, a year-on-year increase of 11.3%. Driven by market demand, the development space of the global LCD photoresist industry will continue to expand. In terms of the local market, the global display panel industry has gradually shifted to mainland my country in recent years, driving the industry’s localization process to continue to accelerate. Compared with semiconductor photoresist, the LCD photoresist industry has lower technical barriers. In the future, with the rapid development of downstream industries, the market share of my country’s domestic LCD photoresist will further increase.

The global LCD photoresist market is mainly concentrated in Europe, the United States, Japan, South Korea and other countries, as well as Taiwan. Representative companies include Allresist GmbH of Germany, DuPont of the United States, JSR Co., Ltd. of Japan, Sumitomo Chemical Industries of Japan, and Mitsubishi of Japan. Chemical Company (Mitsubish), Japan’s Toyo Ink Manufacturing Co., Ltd. (Toyo), South Korea’s LG Group, South Korea’s Samsung Group, Taiwan’s Daxing Materials Co., Ltd., etc. Japan’s JSR and Toyo Ink are the world’s leading LCD black photoresist companies, accounting for nearly 50% of the market share.

At present, the main LCD photoresist manufacturers in my country include Tongcheng New Materials, Rongda Photosensitive, Nanda Optoelectronics, Qianli New Materials, Guangxin Materials, Feikai Materials, Jingrui Electric Materials, China Electronics Rainbow, Wanrun Co., Ltd., Kangda New Materials, etc. Beixu Electronics, a subsidiary of Tongcheng New Materials, is my country’s first TFT-LCDArray photoresist manufacturer. According to Beixu Electronics’ financial report, the company’s LCD photoresist achieved revenue of 260 million yuan in 2021, a year-on-year increase of 22.7%.

Industry analysts said that LCD photoresist is an important raw material for display panels. As the development of downstream industries accelerates, the LCD photoresist market The scale will be further expanded. From the perspective of product segmentation, LCD color photoresist is the representative product of LCD photoresist. In the future, as the technical level of local enterprises continues to improve, the localization process of my country’s LCD color photoresist will be further accelerated.