2024 Global Semiconductor Materials Market Posts $67.5 Billion in Revenue, SEMI Reports

MILPITAS, Calif., April 28, 2025 /PRNewswire/ — Global semiconductor materials market revenue increased 3.8% to $67.5 billion in 2024, SEMI, the global industry association representing the electronics design and manufacturing supply chain, reported today in its 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 $42.9 billion in 2024, while packaging materials revenue grew 4.7% to $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 $20.1 billion in revenue, was the world’s largest consumer of semiconductor materials for the 15th consecutive year. Mainland China, at $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.  

The Materials Market Data Subscription (MMDS) from SEMI provides annual revenue with 10 years of historical data and a two-year forecast. The annual subscription includes quarterly updates for the materials segment and reports revenue for seven market regions (North America, Europe, Japan, Taiwan, South Korea, Mainland China and Rest of World). The report also features detailed historical data for silicon shipments and revenues for photoresist, photoresist ancillaries, process gases and lead frames.

For more information about the report or to subscribe, please contact the SEMI Market Intelligence Team at mktstats@semi.org. More details are also available on the SEMI Market Data webpage.  

Download a sample of the MMDS report.

About SEMI

SEMI^® is the global industry association connecting over 3,000 member companies and 1.5 million professionals worldwide across the semiconductor and electronics design and manufacturing supply chain. We accelerate member collaboration on solutions to top industry challenges through Advocacy, Workforce Development, Sustainability, Supply Chain Management and other programs. Our SEMICON^® expositions and events, technology communities, standards and market intelligence help advance our members’ business growth and innovations in design, devices, equipment, materials, services and software, enabling smarter, faster, more secure electronics. Visit www.semi.org, contact a regional office, and connect with SEMI on LinkedIn and X to learn more.

Association Contact

Sherrie Gutierrez/SEMI
Phone: 1.831.889.3800
Email: sgutierrez@semi.org

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