May 7, 2024 /SemiMedia/ -- According to SEMI, global semiconductor materials market revenue shrank 8.2% to $66.7 billion in 2023 from the market record of $72.7 billion set in 2022.
SEMI point out that 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.
The report shows that Taiwan region has become the world's largest consumer of semiconductor materials for 14 consecutive years with revenue of $19.2 billion. Mainland China continued its year-over-year growth, ranking second in 2023, with revenues of $13.1 billion, while South Korea remained the third largest consumer with revenues of $10.6 billion. With the exception of mainland China, all regions experienced high single-digit or double-digit declines in 2023.
To download a sample report, please see https://discover.semi.org/materials-market-data-registration.html. More details are available at https://www.semi.org/en/products-services/market-data.
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