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Global semiconductor materials market revenue increased by 3.8% to US$67.5 billion in 2024, according to SEMI’s Materials Market Data Subscription (MMDS). The recovery of the overall semiconductor market as well as the increasing demand for advanced materials for high-performance compute and high-bandwidth memory manufacturing supported 2024 materials revenue growth.
Wafer fabrication materials revenue increased 3.3% to US$42.9 billion in 2024, while packaging materials revenue grew 4.7% to US$24.6 billion last year. The chemical mechanical planarization (CMP), photoresist, and photoresist ancillaries segments experienced strong double-digit growth driven by increased complexity and number of processing steps required for advanced DRAM, 3D NAND flash and leading-edge logic integrated circuits (ICs). All semiconductor materials segments, except for silicon and silicon-on-insulator (SOI), registered year-on-year increases. The demand for silicon, particularly in the trailing edge segment, remained weak in 2024 as the industry continued to work through excess inventory, resulting in a 7.1% decline in silicon revenue in 2024.
Taiwan, with US$20.1 billion in revenue, was the world’s largest consumer of semiconductor materials for the 15th consecutive year. China, at US$13.5 billion in revenue, continued to register year-over-year growth, ranking second in 2024, while Korea followed as the third largest consumer with $10.5 billion in revenue. All regions, except for Japan, posted single-digit increases in 2024.
Taiwan, with US$20.1 billion in revenue, was the world’s largest consumer of semiconductor materials for the 15th consecutive year. China, at US$13.5 billion in revenue, continued to register year-over-year growth, ranking second in 2024, while Korea followed as the third largest consumer with US$10.5 billion in revenue. All regions, except for Japan, posted single-digit increases in 2024.