Reports Description
According to Custom Market Insights (CMI), The Global Polishing Slurry Market Size was valued at USD 1665.2 million in 2021 and is estimated to reach USD 2362.2 million by the end of 2030 at a CAGR of approximately 6.2% during the forecast period 2022-2030.
The polishing slurry is a type of polishing tool used as a fabrication process in integrated circuits. The polishing slurry is made by blending water with other chemicals. The polishing slurry is often manufactured using different chemicals and sometimes electronic deposition to create a smooth polishing effect.
The surfaces of the semiconductor devices that contain silicon, silicon oxide, and metal are needed to be polished using the polishing slurry. Using the slurry polishing method, the electrode’s height and the silicon’s thickness can be regulated with higher accuracy. All the abrasives and chemicals used to smooth the surface are termed slurry. The slurry is the most important aspect of chemical mechanical planarization or polishing. The polishing slurry has multiple benefits, including quality retention, prevention from corrosion, controlling sensitivity, etc. The slurry is a mixture of chemical components, pure water, and polishing particles.
Growth Factors
The popularity of mobile devices, including flash memory, drives the market growth for polishing slurry.
Flash memory is one of the crucial forces that drive market growth due to the rise in popularity of mobile devices with huge storage capacities. Such factors drive market growth, especially for CMP slurries.
The high preference for aluminum oxide ceramic drives the polishing slurry market growth.
The huge demand for aluminum oxide ceramic is due to the increase in material availability and the excellent electrical engineering capacity. Aluminum oxide is hard ceramic, which forms the major slurry composition, which drives the market growth for slurry chemicals across the globe.
The popularity of miniature consumer electronics propelled the slurry market growth.
The high demand for smart gadgets, along with the rapid expansion of the consumer electronics industry, has increased the production of semiconductors. The polishing slurries are used in small electronic equipment, including wafers and microchips, which propel the market growth for polishing slurries.
The growth of smart computational techniques like artificial intelligence and cloud computing drives the market growth.
Implementing artificial intelligence, cloud computing, and big data analytics has created new opportunities for the chip market due to the increase in demand for microchips; the polishing slurry market has also increased.
The evolution of the semiconductor industry is likely to boost the slurry market.
The increased adoption of advanced semiconductor technology and high demand are likely to propel the market growth for polishing slurries over the coming years.
The rise in the adoption of digital platforms has led to an increase in the polishing slurry market.
The increase in the digital platform trend has led to enhancing the polishing slurry market across the globe. With the development of the internet of things technology, the demand for CMP slurries boosted the market growth due to the semiconductors and small chips.
Polishing Slurry Market Segmentation
The polishing slurry market is segmented based on type, application, and region.
Market segmentation based on Type
Based on type, the polishing slurry market is segmented into alumina slurry, colloidal silica slurry, and ceria slurry. In terms of revenue, the alumina slurry segment has dominated the slurry market with 34.52% of the market share in 2021 and is expected to witness a significant rise in the forecast period. This can be attributed to the superior planarity and the excellent uniformity control that leads to their wide usage. Furthermore, aluminum oxide is an extremely hard-wearing ceramic with excellent engineering capacity and easily available material. Aluminum oxide forms the basic composition of chemical slurry products. Above all, aluminum oxide is the naturally occurring form of the mineral corundum and is the most commonly used mineral to date.
Market segmentation based on Application
Based on an end-use or application, the market is bifurcated into silicon wafers, optical substrates, disk drive components, and other microelectronic surfaces. The silicon wafers segment has dominated the polishing slurry market in 2021 and is expected to rise with a significant CAGR during the forecast period. Silicon wafers are widely used in high-speed devices to reduce heat capacity. The wide usage of silicon wafers drives the market growth for the segment. As of 2021, silicon wafers hold 50.23% of the polishing slurry market share.
The growth of silicon wafers can be attributed to the increase in their production and usage in the semiconductor or chip manufacturing industries, which drive the market growth for the silicon wafers segment across the globe. Apart from the semiconductor industries, silicon wafers are highly in demand in the case of electrochemical systems and devices, as well as complementary metal oxides semiconductor integrated circuit products. As silicon wafers are known to reduce heat, they are widely used across semiconductor industries.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 1665.2 Million |
| Projected Market Size in 2030 | USD 2362.2 Million |
| CAGR Growth Rate | 6.2% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Cabot Microelectronics, DuPont, Fujimi Incorporated, Air Products/Versum Materials, Fujifilm, Hitachi Chemical, Saint-Gobain, Asahi Glass, Ace Nanochem, UWiZ Technology, WEC Group, Anji Microelectronics, and Others |
| Key Segment | By Type, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
As per the geographical distribution, the polishing slurry market is segmented across North America, Europe, Asia-Pacific, and LAMEA. The North American region dominated the polishing slurry market in 2021; however, the Asia-Pacific region is expected to grow significantly during the forecast period. In North America, the growth in the polishing slurry market can be attributed to the increase in demand from the generations for small electrical chips and smart devices that propel the market growth for polishing slurries across such regions.
Over the coming years, the Asia Pacific region will likely witness significant growth in the slurry market due to the increasing rise in competition between the key players in terms of investments in the semiconductor industries. Several countries of the Asia-Pacific region have heavily invested in the semiconductor industry to fulfill the customer standard demands for electronics. The digital platform trend tends to rise, due to which the polishing slurry market also witnesses significant growth. The development of the internet of things has led to demand for semiconductors, boosting market growth across both regions.
Key market players in the polishing slurry market
Various prominent companies or key players have operated in the polishing slurry market to enhance the business across different regions. The key players tend to adopt various strategies, including innovation and emerging investments for the expansion of the product portfolio regarding the polishing slurry market.
Key Players:
- Cabot Microelectronics
- DuPont
- Fujimi Incorporated
- Air Products/Versum Materials
- Fujifilm
- Hitachi Chemical
- Saint-Gobain
- Asahi Glass
- Ace Nanochem
- UWiZ Technology
- WEC Group
- Anji Microelectronics
Covid-19 Impact on Polishing Slurry Market
Like other markets, the arrival of the pandemic or covid-19 harmed the polishing slurry industry. The stringent regulations and the restriction on movement due to the imposed lockdown by the government have led to the temporary downfall of the polishing slurry market. In addition, the high cost associated with the maintenance and installation of the machinery also affected the market growth during the pandemic.
Apart from that, the decrease in economic value also served as the downfall of the polishing slurry market. The emergence of covid harmed the polishing slurry market from the health and economic aspects. The various chemicals used as a composition of the slurry can be detrimental to health and can produce skin and eye irritation to the people.
Key Takeaways
- The polishing slurry market is expected to grow at a significant CAGR of 6.2% during the forecast period.
- The alumina slurry type segment dominated the market in 2021, with a revenue share of 34.52%.
- As per the application basis, the silicon wafer segment held the largest market share, with 50.23% in the base year.
- The North American segment has dominated the polishing slurry market in 2021 and is expected to witness significant growth during the forecast period.
Recent Developments in the Polishing Slurry Market
- In 2020, Soulbrain Co., Ltd announced the development of an advanced poly buffering slurry. The company has focused on rapid research and development activities. The company aimed to produce electronic-based chemical materials or slurries for their respective customers.
- In January 2020, Entegris formed an acquisition with Sinmat with a value of USD 75 million. The acquisition helped both companies to produce special chemical-based slurry products to enhance their product portfolio.
- In 2019, Fujimi Corporation announced the establishment of an HVM site for silicon carbide wafer-based polishing slurries at Tualatin, Oregon, where the manufacturing plant is situated. The company has developed various alumina-based slurries, which are manufactured using non-acidic chemicals at neutral ph.
Market segments covered in the report
By Type
- Alumina Slurry
- Colloidal Silica Slurry
- Ceria slurry
By Application
- Silicon Wafers
- Optical Substrate
- Disk Drive Components
- Micro electric Surfaces
- Other
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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