1. Market Size & CAGR of Chemical Mechanical Polishing Market in 2021

The global Chemical Mechanical Polishing market is expected to have a growth rate of 4.2% CAGR from 2021 to 2026. The market size is projected to reach USD 5.8 billion by 2026.

2. COVID-19 Impact on the Chemical Mechanical Polishing Market

The COVID-19 pandemic had a significant impact on the Chemical Mechanical Polishing market. The market experienced a temporary slowdown in 2020 due to disruptions in the supply chain and manufacturing processes. However, the market rebounded in 2021 with increased demand for electronic devices and semiconductor products.

3. Chemical Mechanical Polishing Dynamics

The Chemical Mechanical Polishing market is driven by the growing demand for advanced semiconductor devices, increased use of electronic components in automotive and consumer electronics, and the development of cutting-edge technologies in the manufacturing sector.

4. Segments and Related Analysis

4.1 Types of Chemical Mechanical Polishing

There are two main types of Chemical Mechanical Polishing: equipment and consumables. The equipment segment dominated the market in 2021, accounting for 60% of the total market share.

4.2 Applications of Chemical Mechanical Polishing

The major applications of Chemical Mechanical Polishing include semiconductor manufacturing, data storage, and optics. The semiconductor manufacturing segment held the largest market share in 2021, driven by the increasing demand for high-performance chips.

5. By Region Analysis

The Asia Pacific region led the global Chemical Mechanical Polishing market in 2021, with China and South Korea being the key contributors. North America and Europe also held significant market shares, driven by the presence of major semiconductor manufacturers.

6. Key Market Players and Competitive Landscape

The key players in the Chemical Mechanical Polishing market include Applied Materials, Inc., Lam Research Corporation, and Tokyo Electron Limited. These companies focus on innovation and strategic partnerships to maintain their competitive edge.

7. Recent Happenings in the Chemical Mechanical Polishing Market

In 2021, Applied Materials launched a new Chemical Mechanical Planarization system for advanced semiconductor manufacturing. This system offers improved process control and efficiency, catering to the growing demand for high-performance chips.