"Abrasive Polishing Fluid Market By Type (Mechanical Action Polishing Fluid and Chemical Action Polishing Fluid), By Application (Silicon Wafers, Optical Substrate, Disk Drive Components, and Others), Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2020-2026"

Market Overview

Abrasive polishing fluid is used as an accessory in the mechanical process of removing excess material from the wafer surface. The abrasives present in the fluid is allowed for enhanced wafer surface finish, cutting through the surface to be polished.

Market Dynamics 

The increasing product demand for wafer processing in semiconductor manufacturing facilities and consistent product incorporation in polishing of hard disk drives as computer peripherals and data centre components are the primary factors driving the market growth. The incremental growth in the use of silicon and gallium nitride wafers in innovative applications of power electronic devices and LED product fabrication has led to the surge in product procurement and purchase efforts, propelling the growth of the market. The optimization in performance of abrasive polishing fluids in terms of polishing speed and surface finish have increased growth opportunities for wafer processing factories, delivering surfaces with minimum damage and no visible scratches in a rapid time. The rapid pace of data centre establishment and steady sale of desktop computers for office and individual use have further presented a consistent path of product adoption for abrasive polishing fluids, with the polishing of hard disks and other disk drive components being continually performed with abrasive liquids. However, volatility in fluctuations of raw material prices and negative environmental impact of abrasive polishing fluids might hamper the market growth. The addition of tariffs and taxes on international transportation of the raw materials might alter the product pricing as well, hindering the possibilities of market growth. The growing product demand in optical media and industrial sectors of emerging economies would provide lucrative opportunities for the market in the coming years. The procurement orders of abrasive polishing fluids in such regions would thereby present crucial manufacturers with new opportunities for product sales and business expansion initiatives during the forecast period.

Market Segmentation

The global Abrasive Polishing Fluid market is mainly classified based on Type and Application. Type is segmented into Mechanical Action Polishing Fluid and Chemical Action Polishing Fluid. By Application, the market is divided into Silicon Wafers, Optical Substrate, Disk Drive Components, and Others.

The Chemical Action Polishing Fluid segment by Type holds a considerable share in terms of overall market volume and value owing to the better mirror finish of surfaces and minimal generation of dust particles, enhancing work productivity and surrounding environment.

In terms of Application, the Disk Drive Components segment is poised to garner 143.3 K MT by 2026; growing at a CAGR of 6.0% during 2020-2026. The increasing number of disk drive components undergoing finishing treatment with the assistance of abrasive polishing fluids would boost the prospects of segment growth during the forecast period.

Regional Analysis

Based on geography, the global Abrasive Polishing Fluid market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

Asia-Pacific is a leading region and accounts for a significant portion of market share in terms of overall market volume. The establishment of large-scale semiconductor fabrication facilities and easy accessibility to essential raw materials are the influential factors that would continue to bolster the growth of the regional market in the coming years.

Competitive landscape

The Abrasive Polishing Fluid market is moderately fragmented, with several global and regional companies operating in the evolving market scenario with expansive manufacturing capabilities and extensive product distribution networks.

Key players operating in the Abrasive Polishing Fluid industry include CMC Materials, Inc., DuPont de Nemours, Inc., Fujimi Incorporated, Fujifilm Holdings Corporation, Showa Denko Materials Co., Ltd., Compagnie de Saint-Gobain S.A., AGC Inc., Ace Nanochem Co., Ltd., Ferro Corporation, WEC Group Ltd., and Anji Microelectronics Technology Co., Ltd.

The increment in manufacturing capabilities through facility expansions and diversification of business opportunities through strategic partnerships are the primarily followed business strategies of the top vendors seeking to capture significant market share over the forecast period.

Covid-19 Impact Analysis

The unique challenges arising out of the Covid-19 pandemic has instilled deep disruptions in the supply chain dynamics for the Abrasive Polishing Fluid market. The suppliers continue to face difficulties in the procurement of essential raw materials for the manufacturing of end-products, thereby limiting the sale opportunities of abrasive polishing fluids. The need for regulatory compliance to physical distancing rules inside of factory premises and limited workforce attendance owing to restrictive movement has led to the reduction in essential staff commitments of the abrasive polishing fluid manufacturers. The delays in raw material procurement and workflow capabilities of top players with reduced working force might hinder the possibilities of market growth. The conventional routes of air and water travel face long periods of total shutdown, which would influence a subsequent decline in product distribution and sales channel routes, hampering the growth of the market during these unprecedented times.

Abrasive Polishing Fluid Market Key Segments:

By Type

• Mechanical Action Polishing Fluid
• Chemical Action Polishing Fluid

By Application

• Silicon Wafers
• Optical Substrate
• Disk Drive Components
• Others

Key Global Abrasive Polishing Fluid Industry Players

• CMC Materials, Inc.
• DuPont de Nemours, Inc.
• Fujimi Incorporated
• Fujifilm Holdings Corporation
• Showa Denko Materials Co., Ltd.
• Compagnie de Saint-Gobain S.A.
• AGC Inc.
• Ace Nanochem Co., Ltd.
• Ferro Corporation
• WEC Group Ltd.
• Anji Microelectronics Technology Co., Ltd.

What Report Provides

• Full in-depth analysis of the parent Industry
• Important changes in market and its dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional growth potential