Machinery Equipment-Construction

Wafer Cutting Fluids Market is Expected to Reach USD 2,447.6 Million by 2030

Jun 2023

Machinery Equipment-Construction

As per the report published by Kings Research, the Global Wafer Cutting Fluids Market was valued at USD 1,704.5 million in 2022 and is projected to reach USD 2,447.6 million by 2030, growing at a CAGR of 4.95% from 2023 to 2030.

Global wafer cutting fluid market is estimated to observe significant growth owing to increasing demand for high-quality semiconductors across different industries driving the adoption of efficient and sustainable cutting methods. The market has shifted towards cost-effective and environmentally friendly cutting fluids, particularly water-soluble cutting fluids. Additionally, there is a growing focus on innovation in the industry as companies seek to maintain a competitive edge by developing new cutting fluid formulations and technologies.

Asia Pacific and North America are estimated to be the prominent regions accruing substantial revenues due to high demand majorly for solar panels, rising production capacities of wafer cutting units, steady growth in R&D, and strategic collaborations among key market players. Taiwan, China, U.S. and Germany are observed to be the countries attributing growth opportunities for the market.

Key Insights

  • Based on the product, the water-soluble segment held the largest market share in 2022
  • Based on application, the semiconductor segment generated the highest revenue in 2022
  • On the basis of region, Asia Pacific accounted for largest market share in 2022

Acquisition of a business unit of DuPont by SK Siltron

March 2020 – A SiC (Silicon Carbide Wafer) unit of DuPont was acquired by SK Siltron which is a key player of semiconductor wafer. The acquisition was valued at USD 450 million and was completed on 29 February, 2020.

Wafer Cutting Fluids Harnessing Innovation to Meet Growing Demand for Semiconductors and Electronic Devices

Increasing demand and production of semiconductor and other electronic devices owing to technological advancements, evolving consumer preferences, and the proliferation of smart, connected devices has resulted in significant rise in demand and development of wafer cutting fluids. This factor is estimated to support the growth of the market throughout the forecast period.

Adoption of Wafer Cutting Fluids in New and Developing Industry Verticals to Create Lucrative Opportunities

With increasing demand for wafer cutting fluids from end-use industries such as telecommunications, information technology, and solar panel manufacturing, businesses and investors have significant opportunities for growth and competitive advantage in the global wafer cutting fluids market. It is important to understand the market landscape, including factors that influence demand and supply, advantages and constraints, and emerging trends, to exploit the potential for growth and sustainable profit margins in the industry.

Implementation of Advancing Technologies Supports the Growth of Manufacturing Units in Asia Pacific 

In 2022, Asia Pacific held the largest market share across the world, accruing over USD 925 million in terms of revenue. The substantial progress of the region is majorly due to increasing number of semiconductor manufacturers in Taiwan, China, and India. Also, China and India are estimated to portray highest growth rate of more than 6% and 5.5% respectively. Development of machinery and equipment industry in these countries would support the growth of the market.

Asia Pacific is followed by North America in terms of revenue and is estimated to be the second largest region in terms of revenue. North America accounted for more than 26% of the global revenue share along with a steady growth rate of 4.35%.

Emphasizing on Acquisitions and Collaborations to Support Sustained Growth

The market is fragmented with key players such as Evonik Industries AG, Momentive, Exxon Mobil Corporation, BASF SE, SINO-JAPAN CHEMICAL CO., LTD., UDM Systems®, LLC, Dynatex International, Keteca Singapore (Pte) Ltd, amongst others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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