Semiconductor Polishing Pads Market will gain appreciable momentum from 2023 to 2032. Increasing technological advancements and the widespread integration of semiconductors in consumer electronics, such as smartphones, refrigerators, LED bulbs, digital cameras, etc., will push the demand for semiconductor polishing pads in the foreseeable future.
Rapid expansion of public infrastructure leading to the adoption of semiconductors across several industrial verticals, such as bank ATMs, the internet, communications, trains, medical networks, and logistics systems, will fuel the semiconductor polishing pads market growth over the next ten years. Semiconductor polishing pads are used to perform chemical mechanical planarization during the semiconductor manufacturing process on each wafer to create a smoother surface and remove excess materials. Doing so increases the performance and durability of the semiconductor, which will increase its adoption, boosting the market outlook during 2023-2032.
The ongoing conflict between Russia and Ukraine is expected to worsen the semiconductor chip shortage that has been continuing for the last two years. The disrupted supply chains and scarcity of raw materials are set to put immense pressure on the semiconductor industry, which is already reeling under the consequences of the COVID-19 pandemic. These concerns, in tandem with increasing digital adoption, proliferating demand for electronic and digital appliances, and the geographic concentration of electronic manufacturing, are anticipated to diminish the sales of semiconductor polishing pads.
However, increasing fund allocations by several governments to boost semiconductor manufacturing and the emerging R&D activities by major manufacturers to develop new products will augment the industry forecast in the foreseeable future. For instance, in July 2021, Samsung Electronics introduced a reusable chemical mechanical polishing pad in collaboration with F&S tech. These polyurethane pads can effectively flatten semiconductor wafer surfaces and are usually cremated after use. Such innovations, along with the rising concerns towards energy efficiency and environmental preservation, will positively impact the industry expansion through 2032.
With respect to the product category, non-woven pads may gain significant traction driven by their excellent capability of cleaning and removing oxidation. They do not make much noise while working and are known for their non-rusting and resilient characteristics. Moreover, these pads are gaining immense popularity among plumbers and pipefitters due to their exceptional reusable properties and ability to meet desired requirements.
Regionally, the North America semiconductor polishing pads market is poised to record an appreciable valuation by 2032. Increasing focus of the market players toward better product innovation will help enhance the industry share in North America. In addition, the expanding consumer electronics market across the U.S. and Canada will also push the regional market growth.
Some of the notable players in the semiconductor polishing pads market include Cabot Microelectronic, 3M, DuPont, Kemet International Limited, Logitech LTD, and Eminess technologies. These players are implementing necessary growth strategies to expand their market footprints while ensuring future sustainability. For instance, in December 2021, Entegris announced the acquisition of CMC materials, formerly Cabot Microelectronics, in a transaction worth around $6.5 billion. The deal was made to continue the company’s consolidation in the electronic materials business.