Growing Demand for CMP Slurry Drives the Global Market Towards a Value of US$1.56 Billion by 2023
The global CMP Slurry Market is estimated to be valued at US$1.56 billion in 2023 and is expected to exhibit a CAGR of 6.43% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.
CMP slurry is a chemical solution used in chemical mechanical planarization processes for polishing the surface of semiconductors and other electronic devices. The advantages of using CMP slurry include improved planarity, reduced defects, and enhanced removal rates. The need for high-quality CMP slurry is driven by the increasing demand for smaller and more advanced electronic devices, such as smartphones, tablets, and wearables. The market for CMP slurry is expected to witness significant growth due to the rising adoption of advanced technologies in the electronics industry.
Market Key Trends:
One key trend in the CMP Slurry Market is the increasing demand for ultra-high purity (UHP) CMP slurry. With the miniaturization of electronic devices, there is a growing need for CMP slurries with higher purity levels to minimize defects and enhance the performance of semiconductors. UHP CMP slurries are formulated with ultra-pure materials and undergo strict quality control measures to ensure optimal performance. The adoption of UHP CMP slurry is expected to increase due to the rising demand for advanced electronic devices and the need for superior planarization and defect reduction capabilities. Key players in the market, such as Versum Materials, Saint-Gobain, and Eminess, are focusing on developing UHP CMP slurries to cater to the evolving needs of the electronics industry.
The CMP Slurry Market can be segmented by application and region. Based on application, the market can be further divided into integrated circuit devices, advanced packaging, and others. The dominating segment in the CMP Slurry market is the integrated circuit devices segment. This can be attributed to the increasing demand for smartphones, tablets, and other electronic devices worldwide. The rapid advancements in technology and the increasing need for more powerful and efficient integrated circuits are also driving the growth of this segment. Additionally, the increasing investment in the semiconductor industry and the rising demand for high-performance electronic devices are further fueling the dominance of the integrated circuit devices segment in the CMP Slurry market.
The global CMP Slurry Market is expected to witness high growth, exhibiting a CAGR of 6.43% over the forecast period of 2022-2028. This growth can be attributed to several factors. Firstly, the increasing demand for consumer electronics, such as smartphones and tablets, is driving the demand for CMP slurries. The expansion of the semiconductor industry and the growing adoption of advanced packaging technologies are also contributing to market growth. Moreover, the rise in research and development activities in the electronic and semiconductor sectors is further propelling the demand for CMP slurries.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the CMP Slurry Market. This can be attributed to the presence of major semiconductor manufacturers in countries like China, Japan, South Korea, and Taiwan. The increasing investment in the semiconductor industry in these countries, along with the rising demand for electronic devices, is driving the growth of the CMP Slurry Market in the Asia Pacific region.
Key players operating in the CMP Slurry Market include Versum Materials, Saint-Gobain, Eminess, Fujimi, Dow Chemicals, Cabot Microelectronic, FujiFilm, BASF, 3M, Evonik, and Hitachi Chemical among others. These companies are focusing on product development, strategic collaborations, and mergers and acquisitions to strengthen their market position and expand their customer base. They are also investing in research and development activities to introduce innovative products and gain a competitive edge in the market.