Table of Contents

1  Executive Summary  11
1.1 PRECURSORS BUSINESS – MARKET OVERVIEW 					12
1.2 PRECURSORS MARKET TRENDS IMPACTING 2024 OUTLOOK 				13
1.3 5-YEAR UNIT SHIPMENT FORECAST BY SEGMENT: DIELECTRIC PRECURSORS 		14
1.4 PRECURSOR TRENDS 								15
1.5  PRECURSOR TECHNOLOGY TRENDS						16
1.6 COMPETITIVE LANDSCAPE DIELECTRIC PRECURSORS 				17
1.7 ANALYST ASSESSMENT OF DIELECTRIC PRECURSORS 				18

2  Scope, Purpose, and Methodology  19
2.1 SCOPE 									20
2.2 METHODOLOGY 								21
2.3 OVERVIEW OF OTHER TECHCET CMR™ OFFERINGS 					22

3  Semiconductor Industry Market Status & Outlook  23
3.1 WORLDWIDE ECONOMY AND OUTLOOK 						24
3.1.1 SEMICONDUCTOR INDUSTRIES TIES TO THE GLOBAL ECONOMY			26
3.1.2 SEMICONDUCTOR SALES GROWTH						27
3.1.3 TAIWAN OUTSOURCE MANUFACTURER MONTHLY SALES TRENDS			28
3.2 CHIPS SALES BY ELECTRONIC GOODS SEGMENT 					29
3.2.1 ELECTRONICS OUTLOOK							30
3.2.2 AUTOMOTIVE INDUSTRY OUTLOOK						31
3.2.2.1 ELECTRIC VEHICLE (EV) MARKET TRENDS					32
3.2.2.2 INCREASE IN SEMICONDUCTOR CONTENT FOR AUTOS				33
3.2.3 SMARTPHONE OUTLOOK							34		
3.2.4 PC OUTLOOK								35
3.2.5 SERVERS / IT MARKET							36
3.3 SEMICONDUCTOR FABRICATION GROWTH & EXPANSION 				37
3.3.1 IN THE MIDST OF HUGE INVESTMENT IN CHIP EXPANSIONS			38
3.3.2 NEW FABS IN THE US							39
3.3.3 WW FAB EXPANSION DRIVING GROWTH 						40
3.3.4 EQUIPMENT SPENDING TRENDS							41
3.3.5 ADVANCED LOGIC TECHNOLOGY ROADMAPS					42
3.3.5.1 DRAM TECHNOLOGY ROADMAPS						43
3.3.5.2 3D NAND TECHNOLOGY ROADMAPS						44
3.3.6 FAB INVESTMENT ASSESSMENT							45
3.4 POLICY & TRADE TRENDS AND IMPACT 						46
3.5 SEMICONDUCTOR MATERIALS OVERVIEW 						47
3.5.1 TECHCET WAFER STARTS FORECAST THROUGH 2028				48
3.5.2 TECHCET MATERIALS MARKET FORECAST THROUGH 2028				49

4  Material Market Trends  50
4.1 CVD, ALD METAL & HIGH-K AND ADVANCED DIELECTRIC PRECURSORS MARKET TRENDS 	51
4.1.1 2023 PRECURSOR MARKET LEADING INTO 2024					52
4.1.2 PRECURSOR MARKET OUTLOOK							53
4.1.3 DIELECTRIC PRECURSORS 5-YEAR UNIT SHIPMENT FORECAST BY SEGMENT		54
4.1.4 DIELECTRIC PRODUCTION OF TOP SUPPLIERS					55
4.1.5 DIELECTRIC PRODUCTION BY REGION 						56
4.1.6 ALD/CVD MATERIAL PRODUCTION CAPACITY EXPANSIONS				57
4.1.7 INVESTMENT ANNOUNCEMENTS OVERVIEW						59
4.2 PRICING TRENDS 								60
4.3 TECHNOLOGY TRENDS/TECHNICAL DRIVERS - OUTLINE 				61
4.3.1 PRECURSOR GENERAL TECHNOLOGY OVERVIEW & TECHNOLOGY TRENDS		62
4.3.2 CUSTOMER DRIVEN TECHNOLOGIES						63
4.3.3 NAND ROADMAPS AND CHALLENGES - 3D NAND LEVELS W/ STACKS/TIERS		64
4.3.4 3D NAND PROCESS ADVANCES REQUIRED						65
4.3.5 MICRON UNVEILS BREAKTHROUGH NVDRAM: A DUAL-LAYER 	32GBIT NON-VOLATILE
FERROELECTRIC MEMORY WITH NEAR-DRAM PERFORMANCE					66
4.3.6 ADVANCED LOGIC ROADMAPS AND CHALLENGES – LOGIC TRANSISTOR EST. ROADMAP	67
4.3.7 ADVANCED LOGIC (FOUNDRY) NODE HVM ESTIMATE				68
4.3.7.1 THE SEMICONDUCTOR SHOWDOWN: SAMSUNG AND TSMC'S GAA FETS VS. 
INTEL'S RIBBONFET								69
4.3.8 ADV LOGIC FUTURE TECHNOLOGY CHALLENGES					70
4.3.9 ADVANCING TECHNOLOGIES IMPLICATION TOPHOTOLITHOGRAPHY			72
4.3.9.1 ADVANCING TECHNOLOGIES IMPLICATION TO PHOTOLITHOGRAPHY – DSA		73
4.3.9.2 ADVANCING TECHNOLOGIES IMPLICATION TO PHOTOLITHOGRAPHY: CENTURA SCULPTA 
BY APPLIED MATERIALS: SHAPING THE FUTURE OF SEMICONDUCTOR MANUFACTURING	75
4.3.9.3 ADVANCING TECHNOLOGIES IMPLICATION TO PHOTOLITHOGRAPHY: LINE EDGE 
ROUGHNESS REDUCTION THRU DEPOSITION						76
4.3.10 CFET ARCHITECTURE: CFET SCALING ADVANTAGE				77
4.3.10.1 CFET ARCHITECTURE: COMPLEMENTARY FETS (CFETS)				78
4.3.10.2 CFET ARCHITECTURE: CFET FUTURE PROSPECTS				81
4.3.11 INORGANIC EUV RESIST – SPIN ON DEPOSITION				83
4.3.11.1 INORGANIC EUV RESIST – ALD DEPOSITED					84
4.3.12 SELF ALIGNED MULTI PATTERNING – SADP					85
4.3.12.1 SELF ALIGNED MULTI PATTERNING – SAQP					86
4.3.12.2 SELF ALIGNED MULTI PATTERNING – PEALD EQUIPMENT			87
4.3.12.3 SELF ALIGNED MULTI PATTERNING - CAN SAQP BYPASS EUV BEYOND 7 NM?	88
4.3.13 EUV, MULTI PATTERNING AND GEOPOLITICS					89
4.3.14 AREA SELECTIVE DEPOSITION (ASD)						90
4.3.14.1 AREA SELECTIVE DEPOSITION (ASD) – TU EINDHOVEN SELECTIVE ALD 
ENABLED BY PLASMA PRETREATMENT							91
4.3.15 SPECIALTY/EMERGING DIELECTRIC AND APPLICATIONS				92
4.3.16 REGIONAL CONSIDERATIONS – DIELECTRICS					93
4.3.17 REGIONAL ASPECTS AND DRIVERS						94
4.4 EHS AND TRADE/LOGISTIC ISSUES – METALS, HIGH-K AND DIELECTRICS   		96
4.5 ANALYST ASSESSMENT OF DIELECTRIC MARKET TRENDS 				97

5  Supply-Side Market Landscape  98
5.1 PRECURSOR MATERIAL MARKET SHARE 						99
5.1.1 CURRENT QUARTER ACTIVITY – MERCK						100
5.1.1.1 MERCK									101
5.1.2 CURRENT QUARTER ACTIVITY – AIR LIQUIDE					103
5.1.2.1 AIR LIQUIDE								104
5.1.3 CURRENT QUARTER ACTIVITY –ENTEGRIS					105
5.1.3.1 ENTEGRIS								106
5.1.4 ADEKA									107
5.1.4.1 ADEKA									108
5.2 M&A ACTIVITY AND PARTNERSHIPS 						109
5.3 PLANT CLOSURES 								111
5.4 NEW ENTRANTS 								112
5.4.1 MSP LAUNCHES TURBO II™ VAPORIZERS: NEXT-GEN EFFICIENCY FOR 
SEMICONDUCTOR FABRICATION							113
5.5 SUPPLIERS OR PARTS/PRODUCT LINES THAT ARE AT RISK OF DISCONTINUATIONS 	114
5.6 TECHCET ANALYST ASSESSMENT OF PRECURSOR SUPPLIERS 				115

6  Sub Tier Supply Chain, Precursors  116 
6.1 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW 	 	 	 	117
6.1.1 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – TIER 2 EXAMPLES 
NOURYON AND GELEST			 	 	 	 	 	118
6.1.2 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – CHEMICAL & GAS 
MANAGEMENT SYSTEMS			 	 	 	 	 	119
6.1.3 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – CHEMICAL 
DELIVERY CABINETS			 	 	 	 	 	120
6.1.4 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – VALVE 
MANIFOLD BOXES (VMB)			 	 	 	 	 	121
6.1.5 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – BULK SPEC 
GAS SYSTEMS				 	 	 	 	 	122
6.1.6 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – GAS CABINETS		123
6.1.7 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW – FORMING GAS & 
DOPANT GAS BLENDERS			 	 	 	 	 	124
6.1.8 SUB-TIER SUPPLY CHAIN: SOURCES & MARKETS OVERVIEW CHEMICAL - 
MONITORING AND ANALYTICAL SYSTEMS		 	 	 	 	125
6.2 SUB-TIER MATERIAL CVD & ALD PRECURSOR TRENDS 		 	 	126
6.3 SUB-TIER MATERIAL INDUSTRIAL VS. SEMICONDUCTOR-GRADE 	 	 	127
6.4 SEMICONDUCTOR-GRADE SUB-TIER MATERIAL SUPPLIER GLOBAL NETWORK MERCK 	128
6.5 SEMICONDUCTOR-GRADE SUB-TIER MATERIAL SUPPLIER GLOBAL NETWORK AIR LIQUIDE 	129
6.6 SEMICONDUCTOR-GRADE SUB-TIER MATERIAL SUPPLIER NEWS 	 	 	130
6.7 SUB-TIER SUPPLY-CHAIN DISRUPTORS			 	 	 	132
6.8 SUB-TIER SUPPLY-CHAIN TECHCET ANALYST ASSESSMENT 	 	 	 	133

7  Supplier profiles  134
ADEKA CORPORATION ​
AIR LIQUIDE (MAKER, PURIFIER, SUPPLIER) ​
AZMAX CO., LTD ​
CITY CHEMICAL LLC ​
DNF CO., LTD ​
...and 20+ more

  LIST OF FIGURES	
FIGURE 1.1: DIELECTRIC PRECURSOR REVENUE (M USD) FORECAST BY SEGMENT		14
FIGURE 1.2: WW MARKET SHARE - DIELECTRIC PRECURSORS 2023 (U$ 686 M)		17
FIGURE 3.1: GLOBAL ECONOMY AND THE ELECTRONICS SUPPLY CHAIN  (2023)		26
FIGURE 3.2: WORLDWIDE SEMICONDUCTOR SALES 					27
FIGURE 3.3: TECHCET’S TAIWAN SEMICONDUCTOR INDUSTRY INDEX (TTSI)		28
FIGURE 3.4: 2023 SEMICONDUCTOR CHIP APPLICATIONS				29
FIGURE 3.5: GLOBAL LIGHT VEHICLE UNIT SALES (IN MILLIONS OF UNITS)		31
FIGURE 3.6: ELECTRIFICATION TREND BY WORLD REGION 				32
FIGURE 3.7: AUTOMOTIVE SEMICONDUCTOR PRODUCTION					33
FIGURE 3.8: MOBILE PHONE SHIPMENTS, WW ESTIMATES 				34
FIGURE 3.9: WORLDWIDE PC AND TABLET FORECAST					35
FIGURE 3.10: TSMC PHOENIX CAMPUS WITH THE 2ND FAB VISIBLE IN THE BACKGROUND	37
FIGURE 3.11: ESTIMATED GLOBAL FAB SPENDING 2023-2028				38
FIGURE 3.12: FAB EXPANSIONS WITHIN THE US					39
FIGURE 3.13: SEMICONDUCTOR CHIP MANUFACTURING REGIONS OF THE WORLD		40
FIGURE 3.14: GLOBAL TOTAL EQUIPMENT SPENDING (US$ M) AND Y-O-Y CHANGE		41
FIGURE 3.15: ADVANCED LOGIC DEVICE TECHNOLOGY ROADMAP OVERVIEW			42
FIGURE 3.16: DRAM TECHNOLOGY ROADMAP OVERVIEW					43
FIGURE 3.17: 3D NAND TECHNOLOGY ROADMAP OVERVIEW				44
FIGURE 3.18: INTEL OHIO PLANT SITE AS OF FEB. 2024 				45
FIGURE 3.19: TECHCET WAFER START FORECAST BY 	NODE SEGMENTS			48
FIGURE 3.20: TECHCET WORLDWIDE MATERIALS FORECAST ($M USD)			49
FIGURE 4.1: DIELECTRIC PRECURSOR REVENUE (M USD) FORECAST BY SEGMENT		54
FIGURE 4.2: WW MARKET SHARE - DIELECTRIC PRECURSORS 2023 (U$ 686 M)		55
FIGURE 4.3: DIELECTRIC PRECURSOR MARKET REGIONAL ASSESSMENT 2023		56
FIGURE 4.4: END USE APPLICATIONS DRIVING NEW DEVICE PROCESSES 			63 
FIGURE 4.5: 3D NAND STACKING DRIVES DIELECTRICS AND METALS PRECURSOR VOLUME	64
FIGURE 4.6: 3D NAND PROGRESSION   						65
FIGURE 4.7: 32 GB NVDRAM WITH 1T 1C MEMORY LAYERS 				66
FIGURE 4.8: GATE STRUCTURE ROADMAP						67
FIGURE 4.9: ADVANCED LOGIC (FOUNDRY) NODE ROAD MAP				68
FIGURE 4.10: RIBBON FET 							69
FIGURE 4.11: MONO LAYER NANO SHEETS CHANNELS 					71
FIGURE 4.12: NANO IMPRINT LITHOGRAPHY PROCESS FLOW 				72
FIGURE 4.13: ALD/ALE ENHANCEMENT OF NANO IMPRINT LITHOGRAPHY 			72
FIGURE 4.14: DIRECTED SELF-ASSEMBLY 						73
FIGURE 4.15: DSA PATENT FILING BY COMPANY					74
FIGURE 4.16: DSA PATEN FILING SINCE 2023					74
FIGURE 4.17: WHAT IS PATTERN SHAPING?						75
FIGURE 4.18: REFINING EUV PATTERNING BY APPLIED MATERIALS 			76
FIGURE 4.19: COMPLEMENTARY FET (CFET)						77
FIGURE 4.20: CFET IMPROVES PERFORMANCE IN TRACK SCALING				77
FIGURE 4.21: MONOLITHIC CFET PROCESS FLOW EXAMPLE				78
FIGURE 4.22: MCFET NEW FEATURE: MIDDLE DIELECTRIC ISOLATION			78
FIGURE 4.23: LOW TEMPERATURE GATE STACK OPTION EXAMPLES				79
FIGURE 4.24: LOW TEMPERATURE SD/CONTACT OPTION EXAMPLES				79
FIGURE 4.25: BSPDN ADVANTAGE: IR DROP REDUCTION					80
FIGURE 4.26: INCREASING NUMBER OF ALD STEPS REQUIRED BY NEXT GENERATION 
GAA-FET AND CFET   								81
FIGURE 4.27: IMEC SUB-1NM TRANSISTOR ROADMAP, 3D-STACKED CMOS 2.0 PLANS		82
FIGURE 4.28: INPRIA EUV MOR 							83
FIGURE 4.29: INPRIA SPIN ON INORGANIC RESIST IS MUCH THINNER THAN STANDARD 
STACKS OF PHOTO RESIST								83
FIGURE 4.30: PATENT FILING FOR MLD DEPOSITED EUV RESIST. SEARCH PERFORMED 
IN PATBASE									84
FIGURE 4.31: SADP PROCESS FLOW USING ALD SPACER 				85
FIGURE 4.32: ONE OF MANY FLAVORS OF SAQP PROCESS FLOW				86
FIGURE 4.33: SELECTIVE ALD ENABLED BY PLASMA PRETREATMENT			91
FIGURE 4.34: SPECIALTY/EMERGING DIELECTRIC APPLICATIONS FOR HETEROGENOUS 
INTEGRATIONS (APPLIED MATERIALS)						92
FIGURE 4.35: 2023 DIELECTRIC REVENUE SHARE BY REGION				93
FIGURE 5.1: 2023 PRECURSOR MATERIAL SUPPLIER MARKET SHARE BY REVENUE		99
FIGURE 5.2: MERCK ELECTRONICS REVENUE 2022-2023 (M EUR), LEFT. 
SEMICONDUCTOR SOLUTIONS ANNUAL REVENUE FORECAST (M EUR), RIGHT. 		102
FIGURE 5.3: AIR LIQUIDE ELECTRONICS REVENUE FORECAST (M EUR)			104
FIGURE 5.4: THE MS (MATERIAL SOLUTIONS) DIVISION OF ENTEGRIS REVENUE FORECAST	106
FIGURE 5.5: ADEKA REVENUE ELECTRONICS REVENUE FORECAST (100M JPY)		107
FIGURE 6.1: FORMING GAS BLENDER CONFIGURATION					124
FIGURE 6.2: TOP COUNTRIES/REGIONS THAT SUPPLY VERSUM MATERIALS US LLC 
(PANJIVA APRIL 2024)								128
FIGURE 6.3: TOP COUNTRIES/REGIONS THAT SUPPLY AIR LIQUIDE AMERICA CORP. 
(PANJEIVA APRIL 2024)								129
FIGURE 6.4: TOP COUNTRIES/REGIONS THAT SUPPLY H.C. STARCK INC. (USA)		130

 LIST OF TABLES	
TABLE 1.1: DIELECTRIC PRECURSOR REVENUES AND GROWTH RATES			14
TABLE 1.2: ESTIMATED DIELECTRIC PRECURSOR MARKET SHARE BY SUPPLIER 2023	17
TABLE 3.1: GLOBAL GDP AND SEMICONDUCTOR REVENUES				24
TABLE 3.2: WORLD BANK ECONOMIC OUTLOOK (JANUARY 2024) 				25
TABLE 3.3: BATTERY ELECTRIC VEHICLE (BEV) REGIONAL TRENDS			32
TABLE 3.4: DATA CENTER SYSTEMS AND COMMUNICATION SERVICES MARKET SPENDING 2023	36
TABLE 4.1: PRECURSORS REVENUE AND GROWTH RATES					51
TABLE 4.2: DIELECTRIC PRECURSOR REVENUES AND GROWTH RATES			54
TABLE 4.3: ESTIMATED DIELECTRIC PRECURSOR MARKET SHARE BY SUPPLIER 2023	55
TABLE 4.4: DIELECTRIC PRECURSOR MARKET REGIONAL ASSESSMENT 2023		56
TABLE 4.5:  OVERVIEW OF ANNOUNCED 2023/2024 MATERIAL SUPPLIER INVESTMENTS	59
TABLE 4.6: LEADING EDGE LOGIC DESCRIPTIONS BY NODE (TSMC, INTEL)		69
TABLE 4.7: MULTIPATTERNING AT 7NM BY TSMC					88
TABLE 4.8: SELECTIVE DEPOSITION - SELECTIVELY DEPOSITED MATERIALS		90
TABLE 4.9: REGIONAL PRECURSOR MATERIAL MARKETS					94
TABLE 4.10: REGIONAL PRECURSOR MATERIAL MARKETS, CONTINUED			95
TABLE 5.1: MERCK QUARTER FINANCIALS						100
TABLE 5.2: AIR LIQUIDE CURRENT QUARTER FINANCIALS				103
TABLE 5.3: ENTEGRIS SUPPLIER CURRENT QUARTER FINANCIALS 			105
TABLE 6.1: CVD AND ALD PRECURSOR						127