Jun 16, 2023 /SemiMedia/ -- According to SEMI's latest report, the global semiconductor materials market revenue grew 8.9% to $72.7 billion in 2022, surpassing the previous market high of $66.8 billion set in 2021.

SEMI: Global semiconductor materials market revenue hits record $73 billion in 2022-SemiMedia

Wafer fabrication materials and packaging materials revenue in 2022 reached $44.7 billion and $28.0 billion, respectively, increasing 10.5% and 6.3%. The silicon, electronic gases, and photomask segments showed the strongest growth in the wafer fabrication materials market, while the organic substrates segment largely drove packaging materials market growth.

For the 13th consecutive year, Taiwan region, at $20.1 billion, was the world's largest consumer of semiconductor materials on the strength of its foundry capacity and advanced packaging base. China continued to register strong year-over-year results, ranking second in 2022, while Korea finished as the third largest consumer of semiconductor materials. Most regions registered high single- or double-digit growth last year.