By Li Panpan

(JW Insights) Jun 15 -- The Chinese mainland ranked second in semiconductor materials market revenue with $12.97 billion in 2022, up 7.3% year on year, according to a SEMI report on June 13.

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, said the report.

Wafer fabrication materials and packaging materials revenue in 2022 reached $44.7 billion and $28.0 billion, respectively, increasing by 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, the 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. South Korea finished as the third largest consumer of semiconductor materials.

Most regions registered high single- or double-digit growth last year. Europe reported the strongest growth of 15.6%, followed by the Taiwan region’s 13.6%, while Japan decreased by 1% in 2022 in semiconductor materials revenue, said the SEMI report.