Global semiconductor materials market sets new high in 2020

Wafer fabrication materials and packaging materials revenues totaled USD 34.9 billion and USD 20.4 billion, respectively, in 2020 for year-over-year increases of 6.5% and 2.3%. The photoresist and photoresist ancillaries, wet chemicals, and CMP segments accounted for the strongest growth in wafer fabrication materials, while the packaging materials expansion was driven by organic substrates and bonding wire market growth. For the eleventh consecutive year, Taiwan, at USD 12.4 billion, was the world's largest market for semiconductor materials on the strength of its large foundry capacity and advanced packaging base. With its aggressive capacity build-up, China surpassed Korea to claim the second spot. Both China and Taiwan registered stronger growth, while the South Korea, Japan and ROW markets also expanded. The North America and Europe markets saw declines due to the COVID-19 pandemic. 2019 and 2020 regional semiconductor materials markets (USD billions)

	2019	2020	Year-over-Year
Taiwan	$11,449	$12,383	8.2%
China	$8,717	$9,763	12.0%
South Korea	$8,885	$9,231	3.9%
Japan	$7,708	$7,947	3.1%
Rest of World*	$6,415	$6,759	5.4%
North America	$5,623	$5,590	-0.6%
Europe	$3,919	$3,634	-7.3%
Total	$52,716	$55,308	4.9%

* The ROW region constitutes Singapore, Malaysia, Philippines, other areas of Southeast Asia and smaller global markets.