Diamond Slurry Market

Diamond Slurry Market Outlook (2022-2032)

The global diamond slurry market has reached a valuation of US$ 165.1 million in 2022 and is projected to evolve at a CAGR of 5.6% to climb to a market size of US$ 286.1 million by the end of 2032.

Sales of diamond slurry accounted for 10.3% share of the global slurry market at the end of 2021.

Report Attributes	Details
Diamond Slurry Market Size (2021A)	US$ 157.1 Million
Estimated Market Value (2022E)	US$ 165.1 Million
Forecasted Market Value (2032F)	US$ 286.1 Million
Global Market Growth Rate (2022-2032)	5.6% CAGR
North America Market Share (2021)	~20.4%
U.S. Market Growth Rate (2022-2032)	~5.7% CAGR
China Market Growth Rate (2022-2032)	~7.2% CAGR
Market Share of Top 5 Companies	~52%
Key Companies Profiled	Algasan International ALLIED HIGH TECH PRODUCTS, INC. Diamond Tool and Abrasives, Inc. Dopa Diamond Tools Engis Corporation Entegris Hyperion Materials & Technologies LAM PLAN SA Mark V lab Saint-Gobain

Sales Analysis of Diamond Slurry (2017-2021) Vs. Market Outlook (2022-2032)

Diamond slurry is used for lapping and polishing materials that require a mirror-like finish. It is used in metallography, the optics industry, the superconductor industry, and the automotive and aircraft industry for lapping and polishing processes. Extensive use of diamond slurry in various industries continues to propel the global diamond slurry market.

Diamond slurry is also used for the polishing of ceramic surfaces. Ceramics are used to manufacture various medical devices such as X-ray tubes, hand tools, pressure sensors, dental bridges & screws, and hip replacement implants.

Polycrystalline diamond has proven ideal for polishing joint components and dental instruments such as drills, grinders, and brushes. With the high need for semiconductors in electronic devices and the increasing trend of compact devices, the consumption of diamond slurry is only set to increase further.

• Short Term (2022 Q2 to 2025): Growing semiconductors market will positively impact diamond slurry market growth in the short term.
• Medium Term (2025-2028): Europe and North America to exhibit comparatively high demand for diamond slurry due to increased penetration of semiconductors and optical & photonic products.
• Long Term (2028-2032): Advancements such as application-specific diamond slurry to open opportunities for diamond slurry suppliers.

From 2017 to 2021, the global market for diamond slurry registered a CAGR of 3.9%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 5.6% CAGR between 2022 and 2032.

Image reflects market share analysis of diamond slurry based on type and region. Under the type segment, oil-based diamond slurry dominates with 36.5% market share in 2022.

What’s Driving High Demand for Diamond Slurry across Regions?

“Expanding Demand from Electronic Industry Paving the Way for Market Growth”

Diamond slurry is extensively used in the lapping, polishing, and planarization of semiconductors and integrated circuits. Integrated circuits that are manufactured using thin film deposition and lithography require CMP to accomplish the anticipated planarity of the deposited layers and the substrate.

Semiconductors manage the flow of electricity in electronic devices and are required in most electronic devices such as servers, automotive, consumer & industrial electronics, etc.

Diamond slurry is essential in the manufacturing procedures of electrical devices, including silicon wafers, barrier metal films, disk-drive components, optical substrates, and others. The quality of wafers is determined by the purity of the crystal and how defect-free the structure is. The lapping of wafers eradicates surface defects from both sides.

• A leading player in the smartphone industry, Apple, uses diamond slurry to polish and clean its wristwatches and mobile devices.

Continuous innovation in the semiconductor industry is set to support the demand in the diamond lapping and polishing slurry market.

“Increasing Demand from Optics & Photonics Industry Acting as Market Driving Factor”

Objects made by the optics and photonics industries are used every day. They are present in modern electronics & systems, smartphones, computers, fibre optics, laser systems, telescopes, and medical equipment. The effects of the optics and photonics industry on society will continue to increase tremendously over the coming decades.

The optics and photonics business requires a wide variety of materials such as sapphire, zinc sulphide, zinc selenide, germanium, magnesium fluoride, calcium fluoride, silicon carbide, gallium nitride, beryllium, and yttrium-aluminium garnet.

Demand for the fine polishing of these materials is very high. Removing all the surface damage and fine-tuning the surface figure, roughness, irregularities, and surface quality is a critical step in optical manufacturing, which is achieved by polishing. The growing optics and photonics industry, due to increased use in day-to-day materials, will drive the target market.

“Rising Trend of Compact Devices to Fuel Market Demand”

Compactness and miniaturization are in trend across industry sectors, especially in the electronics sector. The world’s population is becoming more used to compact systems and devices. With this increasing interest, market players are manufacturing more compact devices to meet consumer needs.

Microchips are present in several electronic devices such as smartphones and their accessories, vehicles, medical devices, and many more. These compact devices are efficient and easy to handle & transport, and, as such, the interest in compact devices is increasing.

• According to MRC data, in 2021, 40.6 million units of compact discs were sold in the U.S. With an increase in the sales of compact discs, revenue from microchip technology has also risen in recent years.
• According to The Semiconductor Industry Association, a total of 1.15 trillion semiconductor units worth US$ 555.9 million were shipped in 2021 across the world.

Increase in smartphones and electric vehicles will drive the demand for semiconductors, which will positively affect the diamond slurry market.

“Application-specific Diamond Slurry to Provide Good Opportunities”

Market players are developing diamond slurries that are specific to particular applications. The composition of diamond slurry plays a critical role in determining the quality of the final product. An unsuitable slurry formulation can impact stock removal, surface finish, and overall reproducibility of the finished component.

Several properties of slurry, including particle size, pH, and composition determine the polishing rate, where smaller particles are found to have a greater polishing rate than larger ones.

• Qual Diamond, a prominent player in the diamond slurry market, manufactures diamond slurries that are specific applications, such as diamond slurry for pads, plates, pitch advanced materials, and wire saws.

Single crystal sapphire, silicon carbide, and transparent spinel ceramic are essential advanced materials used for semiconductors and other products. These materials have a hardness that makes lapping and polishing difficult. Specially formulated diamond slurry from Qual Diamond makes the process easy and its environment-friendly nature makes it easy to clean.

Adoption of application-specific diamond slurry by different market players will propel the market forward over the coming years.

What Do Diamond Slurry Manufacturers Need to Be Aware Of?

“Presence of Alternatives May Threaten Market Expansion”

Diamond slurry is mostly used for lapping and polishing surfaces. Slurries prepared from other compounds such as aluminium oxide, cerium oxide, silica, and zirconium oxide can also be used for lapping and polishing.

• According to a recent study conducted on the chemical-mechanical polishing of Yttrium Aluminum Garnet (YAG), slurry composed of silica in a sodium hydroxide solution showed superior performance to produce a good surface finish as compared to alumina- or diamond-based slurries.

Aluminium oxide slurries accounted for almost 34% of the total slurry market in 2021. As of 2021, cerium oxide-based slurries accounted for 26% of the total market, and silica slurries accounted for 17% share of the slurry market. The presence of alternative slurries that can be employed for the same application can negatively affect the market to some extent.

Country-wise Insights

Will Increasing Use of Semiconductors in the U.S. Drive Diamond Slurry Demand?

The U.S. passed the United States Innovation and Competition Act (USICA), in June 2021, which included US$ 52 million to bolster its domestic manufacturing, research, and design of chips.

The large number of semiconductor manufacturing companies present in the U.S. will lead to a surge in the demand for diamond slurry in the country. Prominent manufacturers of smartphones and electric vehicles that require semiconductors for their product manufacturing are located in the U.S., which will further drive the market.

Thus, the United States diamond slurry market is expected to hold 85.4% of the market share in the North American region in 2022.

Why is China’s Diamond Slurry Market Expected to Be Highly Lucrative?

China is the largest manufacturer and exporter of electronic goods and smart devices, producing around 36% of the total world’s electronics. Owing to the low labour cost and manufacturing plants of major electronic companies, China is a lucrative market for diamond slurry manufacturers.

• The 14th 5-year plan of China focuses on photonics, quantum information, micro & nanoelectronics, artificial intelligence, network communications, modern energy systems, and biomedicine. The Chinese government has increased its spending on photonics by 40% every year, reaching €1 million in 2020. As of March 2022, there were 262 photonics startups in China.

China has set a goal to achieve 70% self-sufficiency in semiconductor manufacturing, backed by an investment of US$ 25 million by local government funds, which, when combined with the National Fund, amounts to US$ 73 million. As such, the Chinese diamond slurry market is expected to flourish in the long run.

Category-wise Insights

Why is the Popularity of Polycrystalline Diamond Slurry High?

Polycrystalline is the most widely used diamond slurry due to its application in the polishing of hard metals and their alloys such as ceramics, sapphire substrates, tantalum carbide substrates, precision optics, compound crystals, metal workpieces & gemstones, and diamonds.

The evenly distributed diamond particles provide a good grinding surface, shortening the processing time. The microcrystals in polycrystalline diamond slurry provide a superior finish due to less subsurface damage.

Owing to the above facts, the consumption of polycrystalline diamond slurry is predicted to increase by 5.4% in 2022.

How is the Advanced Ceramics Industry Complementing Market Growth?

Advanced ceramics are widely used in many manufacturing industries such as electronics, automotive, medical, aerospace, etc. Topographic variations formed during the grinding process are eliminated by diamond particles from diamond lapping slurry and diamond polishing slurry.

Lapping with diamond slurry reduces the cost per hour, leads to lesser sludge generation, and decreases the steps involved in the process. As a result, the market for advanced ceramics is expected to rise at 6.6% CAGR over the assessment years of 2022-2032.

Competitive Landscape

Prominent diamond slurry manufacturers are Algasan International, Allied High Tech Products, INC., Asahi Diamond Industrial Co., Ltd., Bewise Inc., Diamond Tool and Abrasives, Inc., Dopa, Engis Corporation, Entegris, Extec Corp., Henan Boreas New Material Co Ltd, Hyperion Materials & Technologies, Kemet International Limited, LAM PLAN SA, Mark V lab, Precision Surfacing Solutions, Qual Diamond, Saint-Gobain, Shenzhen Yungu Semiconductor Material Co., Ltd., and Stahli USA.

Suppliers of diamond slurry are focusing on increasing the efficiency of their products.

• Engis ltd, by working closely with ball valve manufacturers, launched a service ball valve diamond lapping gel. It is to be used in ball valve lapping applications in the end-use industries of petro-chemical refining and oil & gas production.

Fact.MR has provided detailed information about the price points of key manufacturers of diamond slurry positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Diamond Slurry Industry Research

• By Type :

  • Water-based Diamond Slurry
  • Lubricant-based Diamond Slurry
  • Oil-based Diamond Slurry
  • Alcohol-based Diamond Slurry

• By Diamond Type :

  • Monocrystalline
  • Polycrystalline
  • Nano

• By Viscosity :

  • Low Viscosity
  • Medium Viscosity
  • High Viscosity

• By Micron Size :

  • Up to 10 μ
  • 10-30 μ
  • Above 30 μ

• By End-use Industry :

  • Semiconductor Industry
  • Optics and Photonics Industry
  • Advanced Ceramics Industry
  • Metal Industry
  • Other Industries

• By Process :

  • Lapping
  • Polishing

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East & Africa