New York, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Consegic Business Intelligence analyzes Chemical Mechanical Polishing Market is expected to witness significant growth at a remarkable CAGR of 7.2% during the forecast period of 2023-2030. The factors such as the increasing development of new semiconductor manufacturing plants, growth in the investment of new integrated circuit products, and others are accelerating the demand for chemical mechanical polishing, which, in turn, is benefiting the market growth. In addition, the rising development of a new range of chemical mechanical polishing product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the chemical mechanical polishing market is poised for strong expansion and is expected to reach USD 9,865.63 Million by 2030. The market, which was valued at USD 5,696.20 Million in 2022, is predicted to grow at a compound annual growth rate of 7.2% during the period 2023-2030. The report highlights the increasing adoption of chemical mechanical polishing in integrated circuit applications, which is proliferating 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 polishing market.
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Chemical mechanical polishing is employed in the production process of integrated circuits to ensure efficient fabrication of integrated circuits. The increasing production activities related to the integrated circuit are accelerating the demand for chemical mechanical polishing. For instance, according to the recent data published by the Japan Electronics and Information Technology Industries Association (JEITA), in 2020, global electronics production, including integrated circuits, integrated circuits, and others was USD 30,337 hundred million, and in 2021, it was USD 33,602 hundred million, an increase of 10.8%. Hence, the growth in the production of integrated circuits is driving the demand for chemical mechanical polishing to remove surface materials. This prime factor is amplifying market growth.
The growth in the production activities of semiconductors, MEMS & NEMS, and others are attributed to factors such as increasing government initiatives for semiconductor production growth, development of a new range of MEMS & NEMS, and others. Hence, owing to the above determinants the leading manufacturers of chemical mechanical polishing are investing in the expansion of chemical mechanical polishing production growth. The major focus of the market players targeting the chemical mechanical polishing production growth is to meet the growing demand from semiconductors, MEMS & NEMS, and others. As a result, the production expansion of chemical mechanical polishing is creating a favorable outlook for market growth.
Global Chemical Mechanical Polishing Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 9,865.63 Million |
| CAGR (2023-2030) | 7.2% |
| By Type | CMP Equipment and CMP Consumable (Slurry, PAD, and Others) |
| By Application | Semiconductors, Integrated Circuits, MEMS & NEMS, 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 | Ebara Corporation, Applied Materials, Inc., Cabot Microelectronics Corporation, Lapmaster Wolters GmbH, DuPont Electronic Solutions, Fujimi Incorporated, Okamoto Corporation, Strasbaugh Inc., Accretech Create Corp., and Revasum Inc. |
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Global Chemical Mechanical Polishing Market Segmentation Details:
Based on Type, the CMP consumable segment contributed the largest shares to the market growth in 2022. Chemical mechanical polishing consumables ensure the product manufacturer produces faster, smaller, and more highly sophisticated products. Chemical mechanical polishing consumables, including slurry, pads, and other products are significant in the manufacturing of integrated circuits, advanced semiconductor devices, and others. Hence, due to the above benefits, the utilization of chemical mechanical polishing consumables is increasing in semiconductor production, thereby boosting market growth.
Based on Application, the integrated circuit accounted for the largest market share in the year 2022. Chemical mechanical polishing is widely deployed in the production of integrated circuits to smoothen the surfaces and design inlaid metal structures for the circuits. Additionally, chemical mechanical polishing works equally efficiently for the manufacturing of single circuits and multiple circuits on a single chip. Chemical mechanical polishing eliminates the rough edges of integrated circuits. This ensures more components are placed in less space, thereby leading to a more compact and higher-performing integrated circuit. Henceforth, due to the above benefits, the adoption of the integrated circuit is driving the demand for chemical mechanical polishing to ensure a superior compact design of the product. This prominent factor is proliferating market growth.
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. owing to the growth in the production of semiconductors, integrated circuits, and other electrical products growth. For instance, according to the Japan Electronics and Information Technology (JEITA), in 2020, the total production in the Japanese electronics industry consisting of semiconductors, printed circuit boards, and others were 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 year-on-year growth rate of the Japanese electronics industry consisting of semiconductors, printed circuit boards, and others was 9.9%. Hence, with the increase in the above-mentioned electrical products, the demand for chemical mechanical polishing is increasing in the Asia Pacific region to ensure the superior durability of the product. Therefore, driving the growth of the market.
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Competitive Landscape
Ebara Corporation, Applied Materials, Inc., Cabot Microelectronics Corporation, and Lapmaster Wolters GmbH 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 polishing. Further, the chemical mechanical polishing market is expected to grow steadily due to rising demand from the semiconductor industry, especially in the regions such as Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing the development of new chemical mechanical polishing manufacturing facilities in the forecast years, thereby anticipated to increase the competition in the market.
Recent Developments
- In July 2022, Entegris a leading manufacturer in the United States acquired CMC Materials. CMC Materials is a chemical mechanical polishing manufacturer in the United States. The prime focus of the acquisition was to increase the market share of Entegris in the global market.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 39.25% and was valued at USD 2,235.76 million in 2022 and is expected to reach USD 3,901.86 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 22.50% during the base year of 2022.
- Based on type, the CMP consumable segment accounted for the highest share contribution to the chemical mechanical polishing market statistics in 2022.
- In the context of type, the integrated circuit segment is expected to contribute significant shares to the growth of chemical mechanical polishing market statistics during the forecast period.
- North America is expected to grow with the highest CAGR in the chemical mechanical polishing market due to the increasing investments in new semiconductor manufacturing projects in countries such as the U.S., Mexico, and others.
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List of Major Global Chemical Mechanical Polishing Market:
- Ebara Corporation
- Applied Materials, Inc.
- Cabot Microelectronics Corporation
- Lapmaster Wolters GmbH
- DuPont Electronic Solutions
- Fujimi Incorporated
- Okamoto Corporation
- Strasbaugh Inc.
- Accretech Create Corp.
- Revasum Inc.
Global Chemical Mechanical Polishing Market Segmentation:
- By Type
- CMP Equipment
- CMP Consumable
- Slurry
- PAD
- Others
- By Application
- Semiconductors
- Integrated Circuits
- MEMS & NEMS
- Others
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Frequently Asked Questions in the Chemical Mechanical Polishing Market Report
- What was the market size of the chemical mechanical polishing industry in 2022?
- In 2022, the market size of chemical mechanical polishing was USD 5,696.20 million
- What will be the potential market valuation for the chemical mechanical polishing industry by 2030?
- In 2030, the market size of chemical mechanical polishing will be expected to reach USD 9,865.63 million.
- What are the key factors driving the growth of the chemical mechanical polishing market?
- Increasing adoption of chemical mechanical polishing in integrated circuits is favoring the growth of the market.
- What is the dominating segment in the chemical mechanical polishing market by application?
- In 2022, the integrated circuits segment accounted for the highest market share of 38.95% in the overall chemical mechanical polishing market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the chemical mechanical polishing market?
- Asia Pacific accounted for the highest market share in the overall chemical mechanical polishing market.
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