Recently, the well-known semiconductor material market information consulting company TECHCET released a forecast report, predicting that the global semiconductor material market will grow by 11% year-on-year in 2024. This forecast data undoubtedly injects a shot in the arm into the semiconductor industry, which is currently in a period of adjustment, indicating that the industry's recovery is in sight. After experiencing a downturn in 2023, the global semiconductor materials market is expected to rebound in 2024 and continue to grow over the next five years.
The report points out that in 2023, the global semiconductor materials market was affected by a decrease in consumer demand for end products, resulting in a sluggish overall industry environment, with a year-on-year decrease of 6%. However, driven by fields such as automobiles, artificial intelligence, and 5G, the semiconductor materials industry still shows strong development momentum. Mike Walden, Senior Director of TECHCET, stated that the growth of the automotive industry will drive the application of new materials such as SiC and GaN, further enhancing functionality.
Looking ahead to 2024, despite facing uncertainties such as geopolitical tensions and inflationary pressures, the global semiconductor materials market is still expected to achieve growth. This is mainly due to the following aspects:
One is driven by technological innovation. Driven by emerging technologies such as 5G, artificial intelligence, and the Internet of Things, the demand for advanced materials in the semiconductor industry will continue to grow. The technological development of key materials such as CMP consumables, advanced packaging materials, and clean chemicals will become the focus of industry competition.
The second is policy support. The Chinese government attaches great importance to the development of the semiconductor industry and has introduced a series of policy support measures aimed at promoting independent innovation and import substitution in the industry. In this context, domestic semiconductor material companies are expected to seize opportunities and increase market share.
The third is the gradual recovery of market demand. With the gradual recovery of the global economy, consumer demand for terminal products will gradually rebound, driving the recovery of the semiconductor material market. In addition, the rapid development of emerging fields such as new energy vehicles and industrial automation will also bring new growth points to the semiconductor material market.
The report also mentioned that it is expected that by 2025, driven by artificial intelligence and 5G infrastructure, the chip market will flourish and demand will show stronger growth. At that time, the global semiconductor materials market is expected to exceed $88 billion in sales.
Faced with the favorable situation of industry recovery, Chinese semiconductor material enterprises should seize the opportunity, increase research and development investment, and enhance product competitiveness. At the same time, enterprises should strengthen cooperation, form a collaborative innovation in the industrial chain, and jointly promote the development of China's semiconductor materials industry.
It is worth mentioning that recently, the semiconductor material ETF (562590) has attracted a lot of financial attention, with a cumulative gold absorption of nearly 40 million yuan. This indicates that market confidence in the semiconductor materials industry is gradually recovering, and investors are optimistic about the industry's prospects.
In summary, TECHCET's forecast report has brought positive signals to the global semiconductor materials market. Driven by multiple favorable factors such as technological innovation, policy support, and market demand, the global semiconductor materials market is expected to achieve a year-on-year growth of 11% in 2024, injecting new vitality into the industry's development.
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