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Taiwan is Expected to Dominate 70% of the Global Foundry Market Shares in 2024


Taiwan, well-knowned for its technological ability, is on the journey of solidifying its dominance in the global foundry market. Market analysts at TrendForce have forecasted a significant surge, predicting that Taiwan Semiconductor Manufacturing Company (TSMC) and its regional counterparts will claim a remarkable 70% share of the global foundry market by 2024.

Take a look at the Top 5 Key Players in the Foundry Market

Before going into analyze the influence of Taiwan, let’s first take a look at the “giants” in the global foundry market.

– Taiwan Semiconductor Manufacturing Company (TSMC)

As the undisputed leader in the foundry market, TSMC stands as a symbol of innovation and technological prowess. Renowned for its cutting-edge fabrication processes and commitment to excellence, TSMC has consistently pushed the boundaries of semiconductor manufacturing.

According to TrendForce, in Q4, 2023, TSMC recorded a revenue of 19,660 million USD, which took up to 61.2%, leading in the foundry market share.

– Samsung

From South Korea, Samsung Electronics placed second in the global foundry arena. Although left behind quite far in comparison tho the first place of TSMC, Samsung sit at the second place in market revenue (3,619 million USD, 11.3% of the semiconductor foundry market share), leveraging its vast resources and diverse portfolio.

– GlobalFoundries

Based in the United States, GlobalFoundries is a prominent player in the foundry market, specializing in cutting-edge semiconductor manufacturing. Along with TSMC and Samsung, GlobalFoundries stand in the top 3, “taking home” nearly 6% of the industry’s revenue share in Q4 2023


As another rising star in Taiwan’s semiconductor industry, UMC has carved out a niche for itself as a leading foundry service provider, secured the fourth place with 5.4% of the foundry market share


In the fifth place, this Chinese enterprise has emerged as a key player in the foundry market, representing the growing influence of China’s semiconductor industry on the global stage. SMIC held upto 5.2% of the global foundry market’s revenue, which accounts for nearly 1,680 million USD

Taiwan Dominate the Global Foundry Market in 2024

According to market analysis by TrendForce, the global foundry sector is projected to experience steady growth in 2024, with Taiwan Semiconductor Manufacturing Company (TSMC) and the Taiwan region emerging as primary beneficiaries.

foundry market

Source: TrendForce, 2024

The forecast showcases the global foundry market will more likely to witness a 12.1% expansion, reaching US$131.65 billion in 2024, a notable increase from the US$171.47 billion recorded in 2023.

Although this growth rate of 12.1% falls slightly behind the forecasted 16% – 20% growth in the semiconductor market in general (according to Semiconductor Intelligence), it’s worth noting that the rebound in average selling prices of memory components is expected to be a significant contributor to overall growth.

It is notable that in 2024, TSMC is predicted to increase in foundry market share to 61%, from the 59% milestone in 2023. On the other hand, another Taiwanese player – United Microelectronics Corporation (UMC), is projected to maintain its 6 percent market share. Consequently, Taiwan’s share of the foundry market is anticipated to rise from 67 percent in 2023 to 70 percent in 2024.

TSMC’s gain in market share is anticipated to come at the expense of competitors like Samsung, whose share is predicted to decline from 11 percent in 2023 to 10 percent in 2024, along with other smaller players from CHina and other regions. This make Taiwan continue to rise as the leading giant in the semiconductor foundry market sector

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