This upwards turnaround comes after a contraction of 3.3% in 2023 due to the overall semiconductor industry slowdown and decline in wafer starts.
Looking ahead, the total semiconductor materials market is expected to grow at over a 5% CAGR (compound annual growth rate) from 2023 through 2027. By 2027, TECHCET anticipates the market to reach $87bn or more, with new global fab ramps contributing to a potentially higher market size.
Although the 2023 slowdown has eased supply constraints, tightness in supply is expected to resume in 2024 for 300mm wafers, epitaxial wafers, some specialty gases, and perhaps copper alloy targets, with the ramp up of new fabs globally. The degree of supply tightening will be a function of material supplier expansion delays, it says.
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