Seoul, South Korea, Aug. 29, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global silica slurry market is estimated at US$ 303.3 million in 2022 and is anticipated to expand at a healthy CAGR of 4.6% during the forecast years of 2022-2032. The market is poised to grow due to remarkable use of Fumed silica slurry in several electronic components.
Escalating use of smartphones and tablets across the world has created the need for high-quality chips and microchips. This factor is directly proportional to the growth of the silica slurry market as it is a major component in the fabrication of chips and microchips. Apart from this, its use in the manufacturing of electronic circuits, diodes, and transistors has spurred its demand in electronics industry.
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Manufacturers of electronic devices are also trying to provide innovative and quality products by doing thickness arrangement in small gadgets and converting them into micro or compact devices. This change is likely to expand the sales of silica slurry across regions.
Hence, owing to technological developments in semiconductor devices, demand for sustainable and economically-driven slurries is expected to witness significant growth over the coming years.
Why is Demand for Silica Slurry Rising Rapidly across Regions?
“Emerging Technologies for Electronic Devices Paving Way for High Market Growth”
The semiconductor business has been developing rapidly in the previous few decades; among these, scaling down / miniaturization in semiconductor innovation has made a huge commitment to the outcome of current hardware in various fields. Various producers participate in the improvement of driving cutting-edge innovations that can be used in the semiconductor fabricating cycle to upgrade the exhibition of semiconductors and electronic gadgets.
Man-made consciousness is reshaping the semiconductor business by affecting the semiconductor fabricating cycle and chip plans. Along with this, IoT in sensors, software, and many others are used in every core industry, which is increasing the demand for semiconductors. The rise in advanced technology for the production of semiconductors and many other chips is driving target market growth.
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Key Segments Covered in the Silica Slurry Industry Survey
- By Product Type :
- Colloidal Silica Slurry Market
- Fumed Silica Slurry Market
- Colloidal Silica Slurry Market
- By Application :
- Silicon Wafer Manufacturing
- Medical Implant Polishing
- Electronics component manufacturing
- Metals and electronic substrate polishing
- Others
- Silicon Wafer Manufacturing
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
- North America
Market Development
- In September 2018, Pureon introduced ‘ULTRA-SOL® 558' colloidal silica slurry. This is a new polishing silica slurry formulated using different techniques that provide higher removal rates in silicon polishing processes than standard silica slurries can achieve. It has features such as adjusting the level of use solids content to get the desired process results.
On similar lines, market players are looking at optimizing the properties of silica slurry = to have an upper hand against aluminium oxide and cerium oxide slurry suppliers.
Colloidal silica slurry is polished over medical implants such as cardiac pacemakers, valves, and drug delivery systems. The main function of silica slurry is to improve the accuracy and safety of these medical implants. Silica slurry has antibacterial properties that make it ideal for medical uses. The development of artificial intelligence (AI), enormous information, and cloud computing isn't just making new development roads for chip manufacturers, but additionally giving chances to improve their performance.
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Key players in the Silica Slurry Market
- Nanoshel LLC
- Elkem
- Air Products Inc.
- Cabot Corporation
- Fujimi Corporation
- DuPont
- W. R. Grace & Co.-Conn
- CMC Materials
- Nissan Chemical America Corporation
Key Takeaways from Silica Slurry Market Study
- The global silica slurry market is projected to expand at 4.6% CAGR and reach US$ 475.6 million by 2032.
- The market progressed at 2.8% CAGR between 2017 and 2021.
- Under product type, fumed silica slurry dominates the market with 58.4% share.
- East Asia dominated the global market with 44.6% share in 2021.
- North America are likely to represent 20.9% share of the global market in 2022.
- Based on region, demand for silica slurry is expected to increase at CAGRs of 3.6% and 5.6%, respectively, in East Asia and North America.
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