Chinese government funding and incentives were expected to boost its share of global chip production this year, with local chipmakers “forecast to start operations of 18 projects in 2024,” according to a report by SEMI, in its quarterly World Fab Forecast, which said that global production would increase by 6.4% with over 30 million wafer starts per month.
“Resurgent market demand and increased government incentives worldwide are powering an upsurge in fab investments in key chipmaking regions and the projected 6.4% rise in global capacity for 2024,” SEMI President and CEO Ajit Manocha was quoted as saying, adding that Taiwan and Korea, the second and third-ranking regions for chip capacity, and the Americas would all boost their capacity by 5-6%, while China’s capacity production growth could be double that amount.
Read the full report: Cision/SEMI.
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The post China to Lead 2024 Chip Expansion with 18 New Fabs – SEMI appeared first on Asia Financial.
