Categories: Chemicals

Chemical Mechanical Planarization Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Chemical Mechanical Planarization by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Chemical Mechanical Planarization, The chemical mechanical planarization market size has grown strongly in recent years. It will grow from $4.37 billion in 2023 to $4.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to rise in semiconductor manufacturing, miniaturization of electronic devices, advancements in materials science, demand for smaller and faster chips, increasing demand for high-performance computing..

The chemical mechanical planarization market size is expected to see strong growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing complexity of memory devices, focus on automotive electronics, demand for higher data storage capacity, increasing investments in foundry services, rise in quantum computing development.. Major trends in the forecast period include 3d ics and advanced packaging, integration with metrology and inspection tools, collaboration in research and development, advancements in nanotechnology, finfet technology. .

The increasing popularity of smartphones is expected to boost the growth of the chemical mechanical planarization market going forward. Smartphones refer to the organic light-emitting diode (OLED), which is fabricated from bendy materials such as plastic as opposed to conventional glass. Chemical mechanical planarization is used to remove materials for topography planarization and device structure formation in smartphone manufacturing. For instance, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed to 85% in February 2021, which was just 35% a decade ago. Further, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, around 68.3 million people are expected to be living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the increase in the popularity of smartphones is driving the growth of the chemical mechanical planarization market.

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The chemical mechanical planarization market covered in this report is segmented –

1) By Type: CMP Consumable, CMP Equipment

2) By Technology: Leading Edge, More Than Moore’s, Emerging

3) By Application: Integrated Circuits, Mems & Nems, Compound Semiconductors, Optics

Product innovation is a key trend gaining traction in the chemical mechanical planarization market. Major companies operating in the chemical mechanical planarization market are focusing on technological advancement and developing new products to strengthen their position in the market. For instance, in June 2021, Samsung Electronics Co., Ltd., a South Korean multinational electronics corporation, introduced the world’s first reusable semiconductor polishing pad. A CMP pad is an element that is required to chemically and physically polish and planarize the surface of a semiconductor wafer. The semiconductor wafer is planarized while the CMP pad is rotating using a CMP slurry, an abrasive substance. The cost of repeatedly purchasing and discarding CMP pads, as well as environmental issues such as greenhouse gas emissions, drove an unending need for CMP reuse in the semiconductor industry.

The chemical mechanical planarization market report table of contents includes: