MILPITAS, Calif., May 6, 2024 -- Global semiconductor materials market revenue in 2023 contracted 8.2% to $66.7 billion from the market record of $72.7 billion set in 2022, SEMI, the global industry association representing the electronics manufacturing and design supply chain, reported today in its Materials Market Data Subscription (MMDS).



 


Wafer fabrication materials revenue declined 7.0% to $41.5 billion in 2023, while packaging materials revenue fell 10.1% to $25.2 billion last year. The silicon, photoresist ancillaries, wet chemicals, and chemical mechanical planarization (CMP) segments logged the biggest contractions in the wafer fabrication materials market. The organic substrates segment accounted for much of the packaging materials market contraction.


Demand for semiconductors softened in 2023 as the industry worked to reduce excess inventory, leading to lower fab utilization rates and, consequently, a drop in materials consumption.


Taiwan, at $19.2 billion in revenue, was the world's largest consumer of semiconductor materials for the 14th consecutive year. China, at $13.1 billion in revenue, continued to register year-over-year growth, ranking second in 2023, while Korea remained the third largest consumer with $10.6 billion in revenue. All regions except China posted high single- or double-digit declines in 2023.


Region




2023




2022




YoY % Growth


Taiwan




$19,176




$20,129




-4.7 %


China




$13,085




$12,970




0.9 %


South Korea




$10,575




$12,901




-18.0 %


Rest of World




$7,177




$8,627




-16.8 %


Japan




$6,828




$7,205




-5.2 %


North America




$5,561




$6,278




-11.4 %


Europe




$4,319




$4,580




-5.7 %


Total




$66,721




$72,691




-8 %




Source: SEMI Materials Market Data Subscription (MMDS), May 2024


Note: Summed subtotals may not equal the total due to rounding.

Rest of the World includes Singapore, Malaysia, the Philippines, other areas of Southeast Asia, and smaller global markets.


The Materials Market Data Subscription from SEMI provides annual revenue with 10 years of historical data and a two-year forecast. The annual subscription includes quarterly updates for the materials segment and reports revenue for seven market regions (North America, Europe, Japan, Taiwan, South Korea, China and Rest of World). The report also features detailed historical data for silicon shipments and revenues for photoresist, photoresist ancillaries, process gases and lead frames.


For more information about the report or to subscribe, please contact the SEMI Market Intelligence Team at mktstats@semi.org. More details are also available on the SEMI Market Data webpage.


Download a sample of the MMDS report.


About SEMI


SEMI® is the global industry association connecting over 3,000 member companies and 1.5 million professionals worldwide across the semiconductor and electronics design and manufacturing supply chain. We accelerate member collaboration on solutions to top industry challenges through Advocacy, Workforce Development, Sustainability, Supply Chain Management and other programs. Our SEMICON® expositions and events, technology communities, standards and market intelligence help advance our members' business growth and innovations in design, devices, equipment, materials, services and software, enabling smarter, faster, more secure electronics. Visit www.semi.org, contact a regional office, and connect with SEMI on LinkedIn and X to learn more.


Association Contact


Michael Hall/SEMI

Phone: 1.408.943.7988

Email: mhall@semi.org


SEMI® connects 2,000+ member companies and 1.3 million professionals worldwide to advance the technology and business of electronics manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. SEMI builds connections that help its members prosper, create new markets, and address common industry challenges together. Visit http://www.semi.org

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