Global EUV Mask Blanks Market Research Report 2025

The global market for EUV Mask Blanks was valued at US$ 591 million in the year 2024 and is projected to reach a revised size of US$ 1360 million by 2031, growing at a CAGR of 12.2% during the forecast period.

The 2025 U.S. tariff policies introduce profound uncertainty into the global economic landscape. This report critically examines the implications of recent tariff adjustments and international strategic countermeasures on EUV Mask Blanks competitive dynamics, regional economic interdependencies, and supply chain reconfigurations.

EUV mask blanks are a low-thermal expansion glass substrate with various kinds of optical coating films on its surface. The EUV mask blank consists of 40 to 50 or more alternating layers of silicon and molybdenum on the substrate. Although only Hoya and AGC are currently on the market with commercial delivery capabilities, we also included research samples or low-volume products for use, based on the real situation of the technology in this market.

The global key manufacturers of EUV Mask Blanks include AGC Inc and Hoya, etc, top 2 manufacturers hold a share approximately 93%. AGC Inc is the world's largest EUV Mask Blanks manufacturer, with a market share of more than 59%.APAC is the largest market with a share of 73%. In terms of applications, Semiconductor is the largest downstream segment, with a market share of about 90%.

The EUV mask blank market is primarily driven by the following factors:

1. Technological upgrades and process node reductions in the semiconductor industry

1.1 EUV technology becomes the only solution for advanced processes

Technical necessity: As semiconductor manufacturing advances toward 7nm, 5nm, and higher-level processes, extreme ultraviolet (EUV) lithography becomes the only viable solution. As a key material for EUV lithography, demand for EUV mask blanks is directly driven by the expansion of advanced process capacity.

1.2 Process node reduction drives demand

Application expansion: EUV technology is not only used in logic chips (such as CPUs and GPUs), but also in memory chips such as DRAM, further driving demand for EUV mask blanks.

Manufacturer dynamics: TSMC, Samsung, Intel, and other manufacturers continue to expand EUV production capacity. For example, TSMC plans to increase the number of EUV production lines to over 50 by 2024.

2. Surging market demand and capacity expansion

2.1 Driven by end-market demand

Emerging technology drivers: 5G, AI, autonomous driving, the Internet of Things, and other emerging technologies are driving a surge in demand for high-performance chips, driving semiconductor manufacturers to adopt more advanced process technologies. Data Support: The global semiconductor market is expected to reach $626 billion in 2024, with EUV-related chips accounting for over 40%.

2.2 Manufacturer Capacity Expansion Plans

AGC Expansion Case: AGC plans to double its EUV photomask blank production capacity by 2024 to meet the production expansion needs of manufacturers such as TSMC and Samsung.

Samsung Supply Chain Diversification: To reduce its reliance on Japanese suppliers, Samsung is actively introducing Korean suppliers (such as S&S Tech) to diversify its supply chain.

3. Supply Chain Security and Regional Competition

3.1 Supplier Concentration and Geopolitical Impacts

Market Concentration: The global EUV mask blanks market is dominated by a few companies, such as AGC and Hoya, with the top two holding over 90% of the market share.

Geopolitical Risk: Japanese companies dominate the EUV mask blanks market, leading manufacturers in other countries to seek supply chain diversification to mitigate geopolitical risks. 3.2 Regional Market Competition

North America and Japan Dominate the Market: North America and Japan hold approximately 70% of the global EUV mask blank market, with Japanese companies (such as Hoya) leading the technology.

The Rise of the Chinese Market: China is gradually increasing its share of the EUV mask blank market through policy support and R&D by local companies. For example, institutions such as the Institute of Microelectronics of the Chinese Academy of Sciences have achieved breakthroughs in materials science.

4. Technological Barriers and R&D Investment

4.1 Materials Science and Process Challenges

Multi-layer Film Structure: EUV mask blanks require a multi-layer film structure (such as a Mo/Si reflective layer), a low thermal expansion substrate (LTEM), and a high-absorptivity material (such as TaN), posing a very high technical barrier.

Defect Control Requirements: EUV lithography has an extremely low tolerance for mask defects, requiring manufacturers to improve yield through precision manufacturing and inspection technologies (such as ABI systems). 4.2 R&D Investment and Technological Innovation

AGC Technological Breakthrough: By integrating glass materials, processing, and coating technologies, AGC has become the world's only EUV mask blank manufacturer capable of providing comprehensive EUV mask blanking solutions, from glass materials to coatings.

Industry Collaboration and Standardization: Organizations such as the Semiconductor Industry Association (SEMI) are promoting the development of EUV mask blank standards, facilitating technical specifications and market access.

5. Policy Support and Industry Ecosystem

5.1 Government Subsidies and Special Funds

China's Policy Support: China's 14th Five-Year Plan lists semiconductors as a key industry, supporting EUV-related material research and development through special funds, such as subsidies for companies like SMIC and Yangtze Memory Technologies.

US and EU Policies: Both the US CHIPS Act and the EU CHIPS Act prioritize EUV technology development, providing tax incentives and financial support.

5.2 Industry Ecosystem and Partnerships

Manufacturer-Equipment Vendor Collaboration: EUV mask blank manufacturers are working closely with lithography equipment manufacturers such as ASML to optimize material and equipment compatibility. Academic Involvement: Universities and research institutions (such as Stanford University and the University of Tokyo) are conducting cutting-edge research in EUV materials science, driving technological breakthroughs.

6. Cost and Yield Pressure

6.1 High Cost Challenge and Scale Effects

Price Difference: EUV mask blanks are significantly more expensive than traditional photomasks, and manufacturers need to reduce unit costs through scale effects.

Data Support: The unit price of EUV mask blanks is approximately 5-10 times that of traditional photomasks, but this can be reduced to less than 3 times through production expansion.

6.2 Need for Yield Improvement

Process Optimization: To address issues such as hydrogen-induced blistering defects and surface particle contamination, manufacturers must continuously invest in R&D to improve yield and lifetime.

Advances in Inspection Technology: Advanced inspection technologies such as ABI systems are used to monitor mask quality in real time to ensure yield meets standards.

The growth of the EUV mask blank market is primarily driven by factors such as semiconductor industry technology upgrades, advanced process capacity expansion, supply chain security needs, technological barriers and R&D investment, policy support, and cost pressures. In the future, with the further popularization of EUV technology and the continued reduction of process nodes, market demand will continue to grow. At the same time, technological competition and supply chain integration will become key. Manufacturers need to seize market opportunities and meet challenges through technological innovation, capacity expansion, and supply chain diversification.