Albany, NY -- (SBWIRE) -- 04/30/2018 -- The recent increase in the demand for portable communication devices, such as smartphones, memory cards, smart card, and various computing devices has boosted the global market for thin wafer processing and dicing equipment substantially. In 2015, the global market for thin wafer processing and dicing equipment garnered US$388.9 mn in revenues, which, with an expected CAGR of 6.80% between 2016 and 2024, is likely to increase to US$692.5 mn by the end of 2024.

The rising awareness about the attributes and benefits of thin wafer processing and dicing equipment, such as better electrical performance and reduced production cost of the device, is likely to support the growth of this market significantly over the next few years.

Although Demand for Blade Dicing to Remain High, Laser Dicing to Emerge more Lucrative

Blade dicing, plasma dicing, and laser dicing are the three main dicing technologies utilized in wafer processing and dicing equipment. Among these, blade dicing, which is traditional dicing technology, has acquired the leading the global market and is predicted to remain dominant over the period of the forecast.

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Laser dicing technology, however, is likely to prove to be more lucrative for manufacturers in the near future due to low operating cost and kerf loss, leading to an increased production of chips. Various attributes, such as high-speed dicing and superior breakage strength is also projected to add to the popularity of laser dicing, reflecting greatly on its demand over the next few years.

Asia Pacific to Retain Dominance Through 2024

North America, the Middle East and Africa, Europe, Latin America, Asia Pacific are the key regional markets for thin wafer processing and dicing equipment. Asia Pacific dominated the global market with a share of 64.2% in 2015 and is anticipated to remain leading over the forthcoming years, thanks to the increasing uptake of thin wafer processing and dicing equipment in small consumer electronics devices, specifically in mobile phones, and several other devices used for communication and computing.

Along with this, the growing usage of these instruments in semiconductors is also projected to boost this regional market in the years to come. China, Taiwan, and Japan have emerged as the main domestic markets for thin wafer and dicing equipment in this region on account of providing lucrative opportunities to the manufacturers of thin wafer processing and dicing equipment.

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North America, which held the second position in 2015, is also expected to witness a healthy rise in the valuation of its market by the end of 2024. The swift technological advancements in consumer electronic devices, in a bid to develop state-of-art smart home devices and wearables, are anticipated to fuel the demand for small integrated circuits, which in turn, is expected to influence the uptake of thin wafers, consequently, boosting the demand for thin wafer processing and dicing equipment over the forthcoming years.

EV Group, Lam Research Corp, Plasma-Therm LLC, DISCO Corp., Tokyo Electron Ltd., Advanced Dicing Technologies, Suzhou Delphi Laser Co. Ltd., SPTS Technologies Ltd., Tokyo Seimitsu Co. Ltd., and Panasonic Corp. are some of the leading producers of thin wafer processing and dicing equipment across the world.