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CMP Slurry Market to Surpass Valuation of US$ 2.6 Bn by 2031; TMR Analyzes Impact of COVID-19 on Market

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CMP Slurry Market to Surpass Valuation of US$ 2.6 Bn by 2031; TMR Analyzes Impact of COVID-19 on Market

June 18
22:05 2021
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 market

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 increasing applications in a wide range of sectors, increasing adoption of advanced technology, and developments in Internet of Things. Thus, expanding applications of CMP slurry in different sectors is propelling the growth of the market.

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The CMP slurry market is growing across the globe due to rising demand for electronic products in a wide range of industries such as industrial electronics, automotive, and consumer electronics. The semiconductor industry is witnessing success in memory chip as well as logic board categories. With this success, semiconductors are offering high processing speed for various devices such as flat screen displays and smartphones. Furthermore, growing usage of artificial intelligence, Big Data, and cloud computing is creating opportunities for chip makers. Hence, manufacturers are focusing on the development of new productivity tools due to evolving demand for chips. These factors are propelling the growth of the CMP slurry market.

Over the last decade, technological advancements have taken place in the semiconductor industry. The industry has undergone changes such as miniaturization, which has contributed to the success of modern electronics. Manufacturers are focusing on development of advanced technologies, which can be used to enhance the performance of semiconductors. For instance, artificial intelligence is influencing the design as well as manufacturing of chips. Moreover, there has been increasing number of partnerships and acquisitions undertaken by manufacturers to ease the development process. These strategies by manufacturers are contributing to the growth of the CMP slurry market.

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The increasing demand for devices such as mobiles, laptops, and tablets with large storage requirement is fueling the growth of technologies such as nonvolatile memory. This memory offers better speed and durability than traditional NAND technology. In these enhancements, the CMP process plays a significant role, which drives the CMP slurry market.

The CMP slurry market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growing usage of CMP slurry in various applications in the region. The CMP slurry market in Europe is projected to witness favorable growth during the forecast period, due to rise in investments by manufacturers in the region. The Asia Pacific CMP slurry market is likely to expand during the forecast period, owing to the prominence of Asia Pacific in semiconductor sector, growing consumer electronics market, increasing number of hardware fabricating centers in developing economies, growing automotive sector, and presence of a large number of players designing and producing semiconductor devices.

Key players operating in the global CMP slurry market are 3M, Applied Materials, BASF, Cabot Corporation, Dongjin Semichem Co Ltd., Dow Chemicals, Evonik Industries AG, Fujifilm, Fujimi Corporation, Hitachi Chemical, KCTech, Samsung SDI and Soulbrain Co., Ltd.

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