Entegris (ENTG)

Fab consumables and purity (Entegris) — the slurries, precursors, gases and filtration every advanced node runs on

AI exposure 34% — derived from reported segment revenue, not asserted.

Where it sits

Silicon Layer → Semiconductor Equipment · figures rebased to Q2 2026, reported 2026-08-04

Entegris supplies what a fab consumes rather than what it buys once: Advanced Purity Solutions at 58.3% of revenue is filtration, purification and contamination control for the critical chemistries and wafers, and Materials Solutions at 41.7% is CMP slurries and pads, deposition precursors, ion-implant gases and etch/clean chemistries. Both are in Semiconductor Equipment, so the sub-tier is the whole company. One strain is worth stating: this sub-tier is defined as "the machines that make chips" and Entegris makes neither machines nor mined materials — but B1 has no materials sub-tier, the sub-tier already holds Ultra Clean's subsystems and parts cleaning on the same reading, and Entegris sells into exactly the layer it describes, one level deeper than the fabs. Added 2026-10.

Reported segments

• Advanced Purity Solutions (APS) — 58.3% of revenue
• Materials Solutions (MS) — 41.7% of revenue

Entegris ($883.2M in Q2 2026, +11% YoY) calls itself "a leading supplier of critical advanced materials and process solutions for the semiconductor and other high-technology industries". Two reported segments: Advanced Purity Solutions $514.6M = 58.3% (filtration, purification, contamination control, wafer handling) and Materials Solutions $371.3M = 41.7% (CMP slurries and pads, deposition precursors, ion-implant gases, etch and clean chemistries). Both sit in Semiconductor Equipment. That sub-tier is defined as the machines that make chips and Entegris makes consumables and purity hardware…

How the 34% is built

• Advanced Purity Solutions (APS) — 58.3% of revenue × 35% AI-driven (estimate). Filtration and contamination control scale with process steps, and advanced nodes, HBM and advanced packaging add steps faster than mature nodes do. Set slightly above the Materials share because the purity content per wafer rises fastest where defect budgets are tightest.
• Materials Solutions (MS) — 41.7% of revenue × 32% AI-driven (estimate). CMP slurries, deposition precursors and implant gases are consumed per wafer across the whole node range including automotive and industrial silicon, so the AI-driven share is a minority of a broad base.

Investment read

Moat. Qualified into customer process flows at the recipe level: a CMP slurry or deposition precursor is validated node by node and designed into the process, so switching means requalifying yield on a running fab. Entegris is also the rare supplier that spans both the materials and the purity hardware that handles them, which it co-optimises as one offering.

Bottleneck / pricing power. Purity and qualification, not capacity. The constraint on advanced nodes is defect density, and that is set by the cleanliness of the chemistries and the filtration between them — a problem that gets harder every node rather than easier.

Role in the AI stack. The consumables and purity layer every leading-edge fab runs on.

Connected companies

• Intel (INTC) — ENTG supplies: process chemistries, CMP slurries and ultra-high-purity filtration for Intel's fabs
• Taiwan Semiconductor (TSM) — ENTG supplies: advanced filtration, CMP slurries and wafer-handling materials for TSMC's fabs
• GlobalFoundries (GFS) — ENTG supplies: process chemistries and contamination control for GlobalFoundries' fabs
• Micron Technology (MU) — ENTG supplies: deposition precursors, CMP slurries and purity systems for Micron's DRAM and NAND fabs
• SK Hynix (SKHY) — ENTG supplies: process materials and ultra-high-purity filtration for SK Hynix's memory fabs
• Sandisk (SNDK) — ENTG supplies: CMP and clean chemistries plus filtration for SanDisk's NAND production
• Western Digital (WDC) — ENTG supplies: process materials and purity systems for Western Digital's wafer production
• Texas Instruments (TXN) — ENTG supplies: CMP slurries, implant gases and filtration for TI's in-house analog fabs
• Analog Devices (ADI) — ENTG supplies: process chemistries and contamination control for Analog Devices' fabs
• Microchip Technology (MCHP) — ENTG supplies: process materials and purity systems for Microchip's fabs
• ON Semiconductor (ON) — ENTG supplies: deposition and clean chemistries plus filtration for onsemi's fabs, including SiC
• STMicroelectronics (STM) — ENTG supplies: process chemistries and filtration for STMicroelectronics' fabs
• Infineon Technologies (IFNNY) — ENTG supplies: process materials and ultra-high-purity filtration for Infineon's fabs
• Ultra Clean Holdings (UCTT) — ENTG supplies: ultra-high-purity filtration and fluid-handling components that go into Ultra Clean's gas and fluid delivery subsystems

Others in Semiconductor Equipment

• ASML Holding (ASML)
• Lam Research (LRCX)
• Applied Materials (AMAT)
• KLA Corporation (KLAC)
• Teradyne (TER)
• Onto Innovation (ONTO)
• Ultra Clean Holdings (UCTT)

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