In a recent report from SEMI and TechInsights, the semiconductor industry showcased impressive growth in the second quarter of 2024, with integrated circuit (IC) sales surging by 27% year-over-year. This upward trend is expected to continue, with projections indicating a 29% increase in Q3 2024.
One of the key factors contributing to this growth is the improved demand that has led to a significant reduction in inventory levels, which saw a 2.6% year-over-year decline in the first half of 2024. This decline reflects a tightening of supply chains and a shift towards meeting robust market needs.
During Q2 2024, installed semiconductor fab capacity reached 40.5 million wafers per quarter (in 300mm wafer equivalent), with expectations for a 1.6% increase in Q3. This rise in capacity is crucial to meet the ongoing demand for chips across various sectors.
In terms of specific segments, foundry and logic-related capacities exhibited 2% growth in Q2 and are projected to increase by 1.9% in the upcoming quarter. This growth is largely driven by the strategic capacity build-up aimed at advanced nodes, which are essential for next-generation technologies.
The memory segment also showed positive momentum, with a 0.7% increase in capacity during Q2 2024. Looking ahead, it is forecasted to experience a 1.1% growth in Q3, spurred by a rising demand for High Bandwidth Memory (HBM) and stabilizing memory prices. This rebound in pricing is critical for fostering a healthier memory market environment.
Overall, the semiconductor industry is poised for a strong performance in the latter half of 2024, as both demand and capacity enhancement strategies align to meet the needs of an increasingly technology-driven world.
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