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BANGALORE, India , Sept. 1, 2022 /PRNewswire/ -- CMP Slurry market is segmented by Type - Alumina Slurry, Colloidal Silica Slurry, Ceria Slurries, by Application - Silicon (Si) Wafer, SiC Wafer, Optical Substrates, Disk-drive Components, Others. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global CMP Slurry market size was valued at USD 1849 million in 2021 and is forecast to a readjusted size of USD 2675 million by 2028 with a CAGR of 4.33% during the forecast period 2022-2028.
Major Factor Driving The Growth of Cmp Slurry Market are
The demand for CMP Slurry is anticipated to rise in the semiconductor sector. This factor is expected to fuel the CMP slurry market. Each layer of the wafer undergoes chemical mechanical planarization several times during the semiconductor manufacturing process in order to eliminate superfluous materials and produce a clean surface.
Additionally, it is anticipated that the increased use of tiny electronics by the world's population will fuel the expansion of the worldwide CMP slurry market's sales.
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TRENDS INFLUENCING THE GROWTH OF CMP SLURRY MARKET
Rising Slurry use in the semiconductor industry is expected to drive the CMP Slurry market. Today, practically all electronic devices and goods employ semiconductors and microchips, which require precise processing. The demand for semiconductors is primarily driven by mobile devices (MIDs), followed by personal computers (PCs), and a wide range of other electronic applications, such as high-performance computing and artificial intelligence. A vital ingredient in the production of semiconductors, wafers, and microchips is CMP slurry.
Since the worldwide chip shortage has been growing over the past several years, semiconductor businesses throughout the world are making significant expenditures in their R&D centers in an effort to meet the expanding demand. According to estimates, demand for semiconductors will increase even more as a result of technological advancements in industries like electronics and automobiles. This factor is expected to drive the CMP slurry market during the forecast period.
The CMP slurry market is being prompted to adopt and create new productivity solutions by the changing chip demand. The development of big data, cloud computing, and artificial intelligence (AI) is not only opening up new business options for chip makers, but also giving them the chance to perform better. In light of this, the worldwide CMP slurry market is anticipated to grow in popularity over the course of the projected period.
Furthermore, CMP slurries' costs have been on the decline recently, which has accelerated their use in a variety of electrical manufacturing processes, including the production of silicon wafers, disk-drive components, optical substrates, and barrier metal films. High-polished and abrasion-free components are now necessary as a result of advancements in semiconductor processing and manufacture. By creating more effective CMP slurry formulae, CMP slurry producers hope to take advantage of the potential that these industrial requirements present.
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CMP SLURRY MARKET SHARE ANALYSIS
Based on region, The key producers of CMP slurry are the US, Europe , Japan , China, Taiwan , South Korea and mainland China. The US is the largest producer of CMP Slurry, valued at USD 698 million in 2021, while Japan is the second producer, valued at USD 384 million .
The proportion of Japan was 37% in 2021, while Japan percentage was 20.7%, and it is predicted that Japan market share will reach 34.9% in 2028, trailing a CAGR of 3.53 % through the analysis period.
As for the rest of the world, the notable producers are China, Taiwan , China Mainland and South Korea , with a CAGR of 4.13%, 12.01% and 5.48%, respectively during the forecast period.
Based on application, the SiC Wafer category, which now only has a modest market share, is anticipated to grow at a CAGR of 15.73% between 2022 and 2028 to achieve revenues of USD 90 million .
The CAGR for the Silicon (Si) Wafer sector has been changed to 3.79% during the forecast period. Silicon wafers are increasingly used in the production of semiconductor chips, MEMS devices, and advanced complementary metal oxide semiconductor (CMOS) integrated circuit products.
Based on type, Colloidal Silica Slurry is expected to hold 56% of the market share in 2021, is expected to be worth USD 1537 million , increasing at a revised 4.44% CAGR from 2022 to 2028.
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