The market for silica slurry worldwide is expected to reach US$ 303.3 million in 2022 and grow at a strong CAGR of 4.6% from 2022 to 2032. Due to the impressive application of fused silica slurry in many electronic components, the market is expected to expand.
Global demand for high-quality chips and microchips has increased as a result of the widespread use of smartphones and tablets. Due to its importance in the production of semiconductors and microchips, this factor directly correlates with the expansion of the global silica slurry market. In addition, its demand in the electronics industry has increased due to its application in the production of electronic circuits, diodes, and transistors.
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Manufacturers of electronic devices are also trying to provide innovative and quality products by doing thickness arrangements in small gadgets and converting them into micro or compact devices. This change is likely to expand the sales of silica slurry across regions.
Hence, owing to technological developments in semiconductor devices, demand for sustainable and economically driven slurries is expected to witness significant growth over the coming years.
Why is Demand for Silica Slurry Rising Rapidly across Regions?
“Emerging Technologies for Electronic Devices Paving Way for High Market Growth”
In the past few decades, the semiconductor industry has grown quickly; among these developments, scaling down and miniaturization in semiconductor innovation have had a significant impact on the results of modern hardware in a variety of disciplines. The advancement of driving cutting-edge ideas that can be applied to the semiconductor fabrication cycle to increase the display of semiconductors and electronic devices is done by a number of producers.
The chip designs and semiconductor fabrication cycle are being impacted by artificial awareness, which is changing the semiconductor industry. Additionally, IoT applications such as sensors, software, and many others are used in all key sectors of the economy, which is driving up demand for semiconductors. The development of cutting-edge technology for the manufacture of semiconductors and several other chips is fueling the expansion of the target market.
Key Segments Covered in the Silica Slurry Industry Survey
- By Product Type :
- Colloidal Silica Slurry Market
- Fumed Silica Slurry Market
- By Application :
- Silicon Wafer Manufacturing
- Medical Implant Polishing
- Electronics component manufacturing
- Metals and electronic substrate polishing
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
Market Development
- In September 2018, Pureon introduced ‘ULTRA-SOL® 558′ colloidal silica slurry. This is a new polishing silica slurry formulated using different techniques that provide higher removal rates in silicon polishing processes than standard silica slurries can achieve. It has features such as adjusting the level of use solids content to get the desired process results.
On similar lines, market players are looking at optimizing the properties of silica slurry = to have an upper hand against aluminium oxide and cerium oxide slurry suppliers.
Colloidal silica slurry is polished over medical implants such as cardiac pacemakers, valves, and drug delivery systems. The main function of silica slurry is to improve the accuracy and safety of these medical implants. Silica slurry has antibacterial properties that make it ideal for medical uses. The development of artificial intelligence (AI), enormous information, and cloud computing isn’t just making new development roads for chip manufacturers, but additionally giving chances to improve their performance.
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Key players in the Silica Slurry Market
- Nanoshel LLC
- Elkem
- Air Products Inc.
- Cabot Corporation
- Fujimi Corporation
- DuPont
- W. R. Grace & Co.-Conn
- CMC Materials
- Nissan Chemical America Corporation
The silica slurry market has experienced substantial growth and transformation, emerging as a key player in various industries due to its versatile applications. This market, valued at around $1.5 billion in 2021, finds its significance in electronics, coatings, and energy storage sectors. One of its primary applications is in the electronics industry, where silica slurry is crucial for chemical-mechanical planarization (CMP) during semiconductor manufacturing. As consumer electronics demand higher processing power and miniaturization, the need for silica slurry in CMP processes is on the rise, driving innovations in slurry formulations to meet specific performance requirements.
Silica slurry’s impact extends to the coatings and polishes sector, playing a vital role in the production of high-performance coatings used in automotive finishes, optical lenses, and precision optics. Moreover, it has found a home in advanced energy storage systems, particularly in lithium-ion batteries for electric vehicles and grid storage. These batteries require high-capacity electrolytes, and silica slurry contributes to their efficiency and longer lifespan.
Key trends in the silica slurry market include a growing demand for advanced electronics, spurring innovations in slurry formulations. The market is also influenced by environmental concerns, leading to the development of eco-friendly formulations like water-based and solvent-free options. Battery technology advancements are another significant trend, with silica slurry enhancing the performance of energy storage systems. Additionally, precision applications, such as optical components, rely on silica slurry for high-quality finishes.
Key Takeaways from Silica Slurry Market Study
- The global silica slurry market is projected to expand at 4.6% CAGR and reach US$ 475.6 million by 2032.
- The market progressed at 2.8% CAGR between 2017 and 2021.
- Under product type, fumed silica slurry dominates the market with 58.4% share.
- East Asia dominated the global market with 44.6% share in 2021.
- North America are likely to represent 20.9% share of the global market in 2022.
- Based on region, demand for silica slurry is expected to increase at CAGRs of 3.6% and 5.6%, respectively, in East Asia and North America.
Despite its growth, the silica slurry market faces challenges, such as raw material availability, as it depends on high-purity silica. Fluctuations in the supply and price of this raw material can impact manufacturing costs. Furthermore, stringent environmental regulations and safety standards necessitate compliance from manufacturers.
However, opportunities abound for the market, including the ability to create customized formulations for specific applications, catering to niche markets and evolving customer needs. Additionally, expansion into emerging markets with growing electronics and energy storage industries offers growth prospects for silica slurry producers.
In conclusion, the silica slurry market is experiencing a surge in demand and ongoing innovation, driven by the evolving needs of industries such as electronics, coatings, and energy storage. As technology continues to advance and environmental sustainability gains importance, silica slurry remains a critical component in enhancing product performance and processes across various sectors. With a focus on developing eco-friendly solutions, meeting regulatory requirements, and addressing raw material challenges, the silica slurry market is poised to continue its upward trajectory, offering promising prospects in the modern world.
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