The global semiconductor materials market generated $67.5 billion in revenue in 2024, a 3.8% increase from the previous year, according to SEMI’s Materials Market Data Subscription (MMDS). The growth was driven by a recovering semiconductor market and rising demand for advanced materials used in high-performance computing and high-bandwidth memory production.
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Wafer fabrication materials revenue rose 3.3% to $42.9 billion, while packaging materials revenue grew 4.7% to $24.6 billion. Strong growth was observed in chemical mechanical planarization (CMP), photoresist, and photoresist ancillaries, fueled by the increasing complexity of advanced DRAM, 3D NAND flash, and leading-edge logic integrated circuits. Most material segments saw year-on-year gains, except for silicon and silicon-on-insulator (SOI), with silicon revenue dropping 7.1% due to weak demand in the trailing edge segment and excess inventory.
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Taiwan led as the largest consumer of semiconductor materials for the 15th consecutive year, with $20.1 billion in revenue. China, with $13.5 billion, ranked second, followed by Korea at $10.5 billion. All regions except Japan reported single-digit revenue increases.
