With the growing demand for semiconductors, the latest forecast report from the Global Semiconductor Industry Association (SEMI) points out that the global wafer production capacity is expected to grow by 6.4% in 2024, reaching more than 30 million wafers per month. This growth momentum is impressive, with 18 new fabs expected to come on stream in 2024, injecting new vitality into the development of the semiconductor industry.

When looking back at the performance in 2023, global wafer production per month has achieved a 5.5% increase, reaching 29.6 million wafers. Looking ahead to 2024, this number is expected to experience even more significant growth, which is expected to be as high as 6.4%. The main driver of this growth trend is some of the world's leading semiconductor foundries, including Intel, TSMC, and Samsung, whose huge demand for wafer capacity is driving the expansion of the entire industry amid continued rapid growth in areas such as artificial intelligence (AI) and high performance computing (HPC).

According to SEMI's forecast, 82 new fabs will come on stream from 2022 to 2024. This includes 11 projects scheduled to start in 2023 and 42 projects scheduled to start in 2024. These new facilities will feature multiple wafer sizes from 100 mm to 300 mm, covering dozens of established and emerging fabs. This all-round expansion not only involves leading process technology, but also demonstrates the rapid advancement of diversification in the semiconductor industry as a whole.

China expects wafer maker capacity to grow 12% annually to 7.6 million wafers per month in 2023. By 2024, this growth rate will accelerate further, reaching 13%, with a total production capacity of 8.6 million tablets. In this context, 18 new fabs are expected to be put into operation in China in 2024, demonstrating China's determination and strength to rise in the semiconductor field.

Globally, capacity growth in South Korea and Japan will follow, with South Korea expected to reach 5.1 million units in 2024. In addition, the Americas, Europe, the Middle East and Southeast Asia are also actively preparing for the growth of the semiconductor industry, planning to open several new fabs in 2024, contributing to the improvement of the global semiconductor supply chain.

Overall, the global semiconductor industry is ushering in a new period of growth, and the rapid expansion of wafer capacity will help meet the growing market demand. As an important player in the global semiconductor industry, China will play an increasingly important role in this wave and contribute to the future development of the global semiconductor industry.