Taiwan to capture 70 percent of 2024 global foundry market

Taiwan to capture 70 percent of 2024 global foundry market

Market news |
By Peter Clarke

The global foundry is set to grow steadily in 2024 with market leader TSMC and the Taiwan region being the beneficiaries, according to market analyst TrendForce.

The global foundry market is expected to expand by 12.1 percent in 2024 rising to US$131.65 billion, up from US$171.47 billion in 2023, the market analyst said.

Global foundry revenue share distribution 2023 and 2024. Source: TrendForce.


This growth figure is slightly behind 16 to 20 percent growth expected for the general market for semiconductors (see Analyst lifts 2024 chip market growth forecast). The difference can be explained when it is considered that a rebound in memory component average selling prices is expected to contribute strongly to overall growth.

In 2023 TSMC captured 59 percent of the market and this market share is expected to climb to 62 percent in 2024. TSMC’s much-smaller neighbour UMC is expected to maintain its 6 percent market share and as a result Taiwan will moves its share of the foundry market from 67 percent in 2023 to 70 percent in 2024.

TSMC is set to gain market share at the expense of Samsung which will go from 11 percent in 2023 to 10 percent in 2024 and smaller players. Globalfoundries and China’s SMIC should hang on to their market shares of 6 and 5 percent, respectively, according to TrendForce’s forecast.

Other geographical regions will all give up market share to Taiwan. Korea is set to reduce from 12 to 11 percent; China from 9 to 8 percent and the “other” region that includes the US, Europe, Japan, Singapore, India will drop from 12 to 11 percent.

It is notable that Intel Foundry Services is expected to only have about 1 percent market share in 2024, of the order of US$13 billion and of a similar order to such foundries as Tower Semiconductor, PSMC and DBHitek.

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