Global Chemical Mechanical Polishing Market Size 2024, Forecast To 2033
6 Mar, 2024
The chemical mechanical polishing market has demonstrated strong growth in recent years, with the market size projected to increase from $5.58 billion in 2023 to $6.04 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.3%. This growth in the historical period can be attributed to the expanding automotive industry driving demand for precision machining solutions, the aerospace sector's increasing reliance on high-performance components necessitating advanced polishing techniques, the growing emphasis on customization to meet diverse manufacturing requirements, efficiency and productivity gains derived from chemical mechanical polishing processes, the globalization of manufacturing necessitating high-quality finishing standards, and the proliferation of mass production methods across various industries. Looking ahead, the chemical mechanical polishing market is expected to sustain strong growth momentum, projected to reach $8.03 billion by 2028, with a compound annual growth rate (CAGR) of 7.4%. The anticipated growth drivers include the integration of chemical mechanical polishing techniques into additive manufacturing processes for enhanced surface finishing capabilities, the expansion of the renewable energy sector driving demand for precision machining of advanced materials, the increasing adoption of chemical mechanical polishing in global infrastructure development projects, and a growing focus on sustainable manufacturing practices emphasizing resource efficiency and waste reduction. Major trends expected in the forecast period encompass the integration of Industry 4.0 technologies to enhance manufacturing efficiency and quality control, the development of multi-tasking and multi-function machining solutions for improved process flexibility, precision, and speed, the adoption of digital twin technology for virtual simulation and optimization of polishing processes, the emergence of open architecture control systems facilitating interoperability and customization, and the customization of chemical mechanical polishing solutions to cater to specific industry requirements.
Global Chemical Mechanical Polishing Market Key Driver
The chemical mechanical polishing market is poised for growth due to the expansion in the consumer electronics industry. Consumer electronics encompass personal electronic devices like smartphones, tablets, and laptops, driven by factors such as population growth, rising incomes, and increasing urbanization. Chemical mechanical polishing (CMP) is vital in meeting the industry's demands by manufacturing precise electronic components. According to the Japan Electronics and Information Technology Industries Association in May 2023, Japan's total electronic equipment production reached $52,36,535 million ( ¥771,457 million), with consumer electronics production reaching $2,178,430 million (¥32,099 million) compared to $1,714,724 million (¥25,268 million) in May 2022. Hence, the expansion in the consumer electronics industry drives the growth of the chemical mechanical polishing market.
Get A Free Sample Of The Global Chemical Mechanical Polishing Market ReportGlobal Chemical Mechanical Polishing Market Segments
The chemical mechanical polishing market covered in this report is segmented –
1) By Type: CMP Equipment, CMP Consumable, Slurry, PAD, PAD Conditioner, Other Consumable Types
2) By Equipment: Polishing and Grinding, Slurry Testing
3) By Technology: Leading Edge, More than Moore's, Emerging
4) By Application: Compound Semiconductors, Integrated Circuits, MEMS (microelectromechanical systems) and NEMS (nanoelectromechanical systems), Other Applications
By Geography:The regions covered in the chemical mechanical polishing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the chemical mechanical polishing market in 2023. The regions covered in the chemical mechanical polishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Chemical Mechanical Polishing Industry Players
Ebara Corporation, Applied Materials Inc., Cabot Microelectronics Corporation, Lapmaster Wolters GmbH, Fujimi Incorporated, CMC Materials Inc., Hitachi Chemical Company Ltd., Badische Anilin- und Sodafabrik SE, Samsung Electronics Co. Ltd., Revasum Inc., Versum Materials Inc., Evonik Industries AG, Asahi Glass Corporation, DuPont de Nemours Inc., Ferro Corporation, 3A Composites India Private Limited, HKC Vietnam Company Limited, Logitech International SA, Tianjin Huahaiqingke, Tokyo Seimitsu Co. Ltd., K.C. Tech Co. Ltd., IV Technologies Inc., Merck Group, Solvay S.A., Air Products and Chemicals Inc., Entegris Inc., Okamoto Corporation, Compagnie de Saint-Gobain S.A., Dow Inc., LAM Research Corporation
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Chemical Mechanical Polishing Market Overview
Chemical Mechanical Polishing (CMP) refers to a semiconductor manufacturing process that involves smoothing and planar zing the surfaces of semiconductor wafers. It is commonly used to remove unwanted material from the wafer surface, such as roughness, topography, and defects, and to create a flat and smooth surface.
Chemical Mechanical Polishing Global Market Report 2023 provides data on the global chemical mechanical polishing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The chemical mechanical polishing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.