New York, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global Chemical Mechanical Planarization (CMP) Slurry Market is expected to witness significant growth at a remarkable CAGR of 6.3% during the forecast period of 2023-2030. The factors such as the increasing development of new integrated circuit facilities, growth in the investment of the electrical industry, and others are accelerating the demand for chemical mechanical planarization (CMP) slurry, which, in turn, is boosting the market growth. In addition, the rising development of a new range of chemical mechanical planarization (CMP) slurry product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the chemical mechanical planarization (CMP) slurry market is poised for strong expansion and is expected to reach USD 728.09 Million by 2030. The market, which was valued at USD 446.38 Million in 2022, is predicted to grow at a compound annual growth rate of 6.3% during the period 2023-2030. The report highlights the increasing adoption of chemical mechanical planarization (CMP) slurrys in semiconductors, which is supplementing global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the chemical mechanical planarization (CMP) slurry market.
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Chemical mechanical planarization (CMP) slurry is deployed in the manufacturing process of semiconductors to create a smoother surface. The key trends such as increasing incentive plans, attracting foreign players to set up manufacturing plants in their countries, tax rebates, and others are boosting the production growth of semiconductors. For instance, in March 2022, the Canadian government announced a USD 240 million investment in the country's semiconductor and photonics industries. Moreover, USD 150 million will be made available through the Strategic Innovation Fund to make focused initiatives that will enhance Canada's domestic semiconductor supply and development advantages. Therefore, with the new government initiatives, the production activities related to semiconductors are increasing. Thus, the increasing application of semiconductors is fueling the demand for chemical mechanical planarization (CMP) slurry to efficiently eliminate excess materials. This, in turn, is driving the growth of the market.
Additionally, chemical mechanical planarization (CMP) slurry is deployed in the photovoltaic panels manufacturing process such as rotary buffing equipment to eliminate small volumes of surface material from crystalline workpieces. The increasing concerns for the environmental impact of fossil fuels, resource crunch, and others are favoring the growth of solar projects at the global level. Thus, the development of new solar power projects at the global level is accelerating the demand for photovoltaic panels. This will drive the demand for chemical mechanical planarization (CMP) slurry as it is utilized in the manufacturing of photovoltaic panels, thereby creating a lucrative opportunity for market growth in the forecast years.
Global Chemical Mechanical Planarization (CMP) Slurry Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 728.09 Million |
| CAGR (2023-2030) | 6.3% |
| By Grain Type | Alumina, Zirconia, Diamond, and Others |
| By Application | Semiconductors, Integrated Circuits, Optical Substrates, Photovoltaic Panels, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Hitachi, Ltd., Fujifilm Corporation, Cabot Microelectronics Corporation, Fujimi Corporation, Merck KGaA, DuPont, Saint-Gobain Ceramics & Plastics, Inc., BASF SE, Showa Denko Materials Co. Ltd, and AGC Inc. |
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Global Chemical Mechanical Planarization (CMP) Slurry Market Segmentation Details:
Based on Grain Type, the alumina segment contributed the largest shares to the market growth in 2022. Alumina is a hard-wearing ceramic equipped with superior engineering capabilities. Alumina forms the basis of a wide range of chemical mechanical planarization (CMP) slurry products. This ensures superior performance benefits for chemical mechanical planarization (CMP), thereby making it an ideal solution for applications, including semiconductors, integrated circuits, and others. Thus, due to the above benefits, the adoption of alumina is increasing in chemical mechanical planarization (CMP) slurry. This, in turn, is spurring market growth.
Based on Application, the semiconductors segment accounted for the largest market share in the year 2022. The chemical mechanical planarization (CMP) slurry has various beneficial properties, including low defectivity and a high removal rate. These performance characteristics ensure high removal rates, low defectivity, and specific selectivity for multiple films. As a result, chemical mechanical planarization (CMP) slurry is an ideal solution for semiconductors. Vital factors such as the development of new semiconductor plants, government aids, and others are favoring the production growth of semiconductors at the global level. Hence, the advancement of semiconductor production is amplifying the demand for chemical mechanical planarization (CMP) slurry, which, in turn, is fostering market growth.
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Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the growth of the semiconductor industry in the region. For instance, according to the Japan Electronics and Information Technology (JEITA), in 2020, the Japan electronics production such as semiconductors, integrated circuits, and others was Japanese Yen 9,964,769 million (USD 93,389.8 million), and in 2021, it was Japanese Yen 10,954,346 million (USS 99,772.2 million). In 2021, the annual growth rate of the electronics industry in Japan consisting of semiconductors, integrated circuits, and others was 9.9%. Therefore, the expansion of the above product production is boosting the revenue growth of the market in the Asia Pacific region.
Competitive Landscape
Hitachi, Ltd., Fujifilm Corporation, Cabot Microelectronics Corporation, and Fujimi Corporation are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of chemical mechanical planarization (CMP) slurry. Further, the chemical mechanical planarization (CMP) slurry market is expected to grow steadily due to rising demand from semiconductors applications, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing the development of new chemical mechanical planarization (CMP) slurry manufacturing facilities is expected to increase the competition in the market.
Recent Developments
- In February 2022, Merck Korea, a leading semiconductor material developer, opened a new semiconductor chemical mechanical polishing (CMP) slurry manufacturing facility in South Korea. Merck Korea will manufacture semiconductor materials in the South Korean facility. Hence, the construction of new CMP slurry units to ensure efficient semiconductor material production will propel the market growth in the upcoming years.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 36.55% and was valued at USD 163.15 million in 2022 and is expected to reach USD 267.14 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 25.55% during the base year of 2022.
- Based on grain type, the alumina segment accounted for the highest share contribution to the chemical mechanical planarization (CMP) slurry market statistics in 2022.
- In the context of application, the semiconductors segment is expected to contribute significant shares to the growth of chemical mechanical planarization (CMP) slurry market statistics during the forecast period.
- North America is expected to boost the market demand for chemical mechanical planarization (CMP) slurrys due to the increasing investments in new semiconductor manufacturing facilities in countries such as the United States and Canada.
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List of Major Global Chemical Mechanical Planarization (CMP) Slurry Market:
- Hitachi, Ltd.
- Fujifilm Corporation
- Cabot Microelectronics Corporation
- Fujimi Corporation
- Merck KGaA
- DuPont
- Saint-Gobain Ceramics & Plastics, Inc.
- BASF SE
- Showa Denko Materials Co. Ltd
- AGC Inc.
Global Chemical Mechanical Planarization (CMP) Slurry Market Segmentation:
- By Grain Type
- Alumina
- Zirconia
- Diamond
- Others
- By Application
- Semiconductors
- Integrated Circuits
- Optical Substrates
- Photovoltaic Panels
- Others
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Frequently Asked Questions in the Chemical Mechanical Planarization (CMP) Slurry Market Report
- What was the market size of the chemical mechanical planarization (CMP) slurry industry in 2022?
- In 2022, the market size of chemical mechanical planarization (CMP) slurry was USD 446.38 million.
- What will be the potential market valuation for the chemical mechanical planarization (CMP) slurry industry by 2030?
- In 2030, the market size of chemical mechanical planarization (CMP) slurry will be expected to reach USD 728.09 million.
- What are the key factors driving the growth of the chemical mechanical planarization (CMP) slurry market?
- The rise in semiconductors application is supplementing the chemical mechanical planarization (CMP) slurry market growth.
- What is the dominating segment in the chemical mechanical planarization (CMP) slurry market by grain type?
- In 2022, the alumina segment accounted for the highest market share of 38.95% in the overall chemical mechanical planarization (CMP) slurry market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the chemical mechanical planarization (CMP) slurry market?
- Asia Pacific accounted for the highest market share in the overall chemical mechanical planarization (CMP) slurry market.
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