TSMC to Develop EUV Mask Pellicle, Delay High-NA

Recently, Tekscend Photomask debuted on the Tokyo Stock Exchange, raising 156.6 billion yen. This milestone signals a major step forward for the semiconductor industry as photomasks take on an increasingly critical role in advancing to the sub-nanometer (angstrom) process nodes.

Industry experts note that photomasks act as the "blueprints" for chip fabrication. Any contamination can drastically reduce yield, making protective measures essential. To address this, TSMC has developed its own pellicle (photomask protective film) for processes below 2nm. This protective layer prevents dust and particles from affecting the photomask, ensuring stable production while maintaining high yields. TSMC continues to use standard EUV lithography for A14 and A10 process nodes while leveraging these pellicles.

Tekscend Photomask, formerly part of Japan's Toppan Holdings, achieved the second-largest IPO in Japan this year. Its core business spans semiconductor photomasks for process nodes from 90nm down to 1nm, covering EUV, OPC (Optical Proximity Correction), and PSM (Phase Shift Mask) technologies.

Historically, foundries used unprotected EUV masks to maximize light transmission. However, at 2nm and beyond, the number of EUV exposures increases significantly. By investing in its own EUV pellicles, TSMC can extend mask lifetime, improve EUV exposure performance, and reduce the capital intensity of advanced process production.

Previously, TSMC announced it would not deploy the $370 million High-NA EUV lithography machine in its A16/A14 nodes. Analysts suggest that ongoing optimizations in EUV lithography allow sub-nanometer processes to continue using standard EUV tools, reducing equipment depreciation pressure.

Pellicles not only protect masks from dust but also enhance EUV production efficiency. However, film thickness can influence lithography exposure wavelengths, making material choice and transparency critical. Currently, most pellicle coating materials and equipment are provided by global manufacturers, though Taiwan-based Rainbow has entered the market with mask inspection equipment, hinting at new opportunities for related technologies.

As photomask outsourcing grows, Tekscend aims to increase the share of its EUV photomask revenue from 35% in 2024 to 55% by 2028. In comparison, Taiwan-based photomask companies are focusing on mature nodes, potentially benefiting from industry spillover effects.

Additionally, photomask boxes, which protect masks during transport and storage while preventing electrostatic damage, could benefit Taiwanese companies such as Jiaden Precision.