CMP Slurry Market: Introduction
Transparency Market Research delivers key insights on the global CMP slurry market. In terms of revenue, the global CMP slurry market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global CMP slurry market.
The global CMP slurry market is broadly affected by several factors, including usage of CMP slurry in the semiconductor sector and increasing applications in the consumer electronics sector. Thus, expanding applications of CMP slurry in different sectors is propelling the global market for CMP slurry.
CMP Slurry Market: Dynamics
CMP (Chemical Mechanical Polishing) slurry is an odorless, milky white, stable mixture of abrasive materials, and water, along with other chemicals. CMP slurry is primarily used in the polishing process of silicon wafers and semiconductors. Almost every electronic equipment and product that exists today comprise semiconductors and microchips, which need proper processing. CMP slurry is a key material used in semiconductors, wafer, and microchip processing.
The increasing smartphone and tablet penetration has reflected favorably on global demand for semiconductors. Furthermore, advancements in semiconductor processing and fabrication have led to the requirement for highly polished and abrasive-free components. Thus, the demand for CMP slurry is projected to rise across the globe in the near future with its increasing use in the semiconductor industry. The adoption of CMP slurry has increased in the semiconductor and consumer electronics industry with the introduction of new technologies and innovations, thereby creating lucrative opportunities for the global CMP slurry market.
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In recent decades, the semiconductor industry has undergone multiple changes; among these, miniaturization in the semiconductor technology has made a significant contribution to the success of modern electronics in many fields. Multiple manufacturers are engaged in developing advanced technologies that can be used in the semiconductor manufacturing process to enhance the performance of semiconductor and electronic devices. For instance, artificial intelligence is reshaping the semiconductor industry by influencing the semiconductor manufacturing process and chip designs. Additionally, IoT has brought in a revival in almost all core industries, further pushing demand for semiconductor chips. Thus, rise in the use of advanced technology for manufacturing semiconductor devices is anticipated to bolster the growth of the global CMP slurry market during the forecast period.
CMP Slurry Market: Prominent Regions
The CMP slurry market in Asia Pacific is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growth of consumer electronic applications in the region. The CMP slurry market in Asia Pacific is projected to witness favorable growth during the forecast period, due to significant rise in semiconductor and consumer electronics applications with the introduction of new technologies and innovations in the region, which is anticipated to reach US$ 1,034.43 Mn at a significant CAGR of 7.21% by 2030. The North America CMP slurry market is likely to expand at the highest CAGR of 6.91% during the forecast period, owing to the presence of a large number of players manufacturing CMP slurry.