Foundry market hits $38.5B as top 10 dominate with 96% share
The global foundry industry reached a new revenue record of USD 38.48 billion in Q4 2024, driven by strong demand for advanced process nodes in AI servers, flagship smartphone application processors, and new PC platforms, reports TrendForce. The top 10 foundries achieved nearly 10% QoQ revenue growth, despite weakening demand for mature process technologies.
TSMC led the market with a 67% share, posting USD 26.85 billion in revenue. The company saw an increase in wafer shipments, fuelled by continued demand for AI-related chips and advanced packaging.
Samsung Foundry retained its second-place position but recorded a 1.4% QoQ decline in revenue to USD 3.26 billion, securing an 8.1% market share. Despite attracting new advanced-node customers, it could not fully offset the loss of orders from major existing clients.
SMIC ranked third, reporting a 1.7% QoQ revenue increase to USD 2.2 billion. While customer inventory adjustments reduced wafer shipments, higher utilisation at new 12-inch fabs and an optimised product mix supported revenue growth.
UMC maintained its fourth-place ranking, with a slight 0.3% QoQ revenue decrease to USD 1.87 billion. Strong front-loading orders helped maintain capacity utilisation and shipments above expectation – mitigating price pressures.
GlobalFoundries held the fifth spot with a 5.2% QoQ revenue increase to USD 1.83 billion, driven by increased wafer shipments, though slight declines in average selling prices (ASPs) offset some gains.
The road ahead
TrendForce says that new US trade tariffs have started impacting the foundry industry. A spike in orders for TVs, PCs, and notebooks destined for the US in late 2024 is expected to carry over into early 2025. At the same time, China’s recently introduced consumer subsidy program has prompted upstream suppliers to restock inventory ahead of schedule.
| Ranking | Company | Revenue | Market share | |||
| 4Q24 | 3Q24 | QoQ | 4Q24 | 3Q24 | ||
| 1 | TSMC | 26,854 | 23,527 | 14.1% | 67.1% | 64.7% |
| 2 | Samsung | 3,260 | 3,305 | -1.4% | 8.1% | 9.1% |
| 3 | SMIC | 2,207 | 2,172 | 1.7% | 5.5% | 6.0% |
| 4 | UMC | 1,867 | 1,873 | -0.3% | 4.7% | 5.1% |
| 5 | GlobalFoundries | 1,830 | 1,739 | 5.2% | 4.6% | 4.8% |
| 6 | Huahong Group | 1,042 | 982 | 6.1% | 2.6% | 2.7% |
| 7 | Tower | 3,87 | 371 | 4.5% | 1.0% | 1.0% |
| 8 | VIS | 357 | 366 | -2.3% | 0.9% | 1.0% |
| 9 | Nexchip | 344 | 332 | 3.7% | 0.9% | 0.9% |
| 10 | PSMC | 333 | 336 | -0.7% | 0.8% | 0.9% |
| Total top 10 | 38,482 | 35,001 | 9.9% | 96% | 96% | |
For more information visit TrendForce.
