Hwatsing Technology (SH:688120) QYResearch·2025-07-02 10:22Core Viewpoint - The global chemical mechanical polishing (CMP) market is projected to reach USD 6.65 billion by 2031, with a compound annual growth rate (CAGR) of 8.2% in the coming years [1]. Market Overview - The top 11 manufacturers in the global CMP market hold a significant market share, with the top four companies accounting for approximately 94.0% of the market in 2024 [2][3]. Product Segmentation - The 12-inch CMP equipment is the dominant product type, capturing about 91.8% of the market share [6]. - In terms of application, semiconductor manufacturing is the primary demand source, representing approximately 73.1% of the market [8]. Market Drivers - Technological Upgrades: The increasing complexity of processes and the need for more CMP steps due to smaller chip feature sizes (e.g., below 7nm) and higher 3D stacking layers are driving demand [11]. - New Material Applications: The polishing of third-generation semiconductors (SiC/GaN) requires specialized high-pressure polishing heads and customized polishing liquids [14]. - Efficiency and Environmental Innovations: AI-driven real-time optimization of polishing parameters can enhance yield by over 15%, while green polishing liquids can reduce costs by 40% [16][17]. Market Expansion - The global semiconductor production capacity is shifting towards China, with 70% of new wafer capacity being established in the region [18]. - Emerging fields such as automotive electronics and 5G/AI/IoT are driving the demand for high-precision polishing [20]. Policy and Localization - Strong governmental support for domestic breakthroughs in CMP technology is evident, with initiatives to prioritize the procurement of domestic equipment [21]. - The domestic replacement process is accelerating, with companies like Huahai Qingke and Anji Technology making significant strides in the market [22][23]. Innovation Ecosystem - Cross-disciplinary technology integration is breaking bottlenecks, with advancements in molecular dynamics simulations optimizing atomic-level removal mechanisms [24]. - Leading companies are transitioning to a "equipment + consumables + services" model, enhancing profitability [26]. International Competition - Export controls from the US and Japan are accelerating domestic replacements, with China leading in CMP patent filings globally [28].