Global #semiconductor capacity is expected to grow by 6.4% in 2024, surpassing the 30 million wafers per month (#wpm) mark for the first time, after growing 5.5% to 29.6 wpm in 2023, #SEMI announced yesterday in its latest quarterly World Fab Forecast. Growth in 2024 will be driven by increases in leading-edge logic and foundry capacity, applications such as generative #AI and high-performance computing (#HPC), and a recovery in end-use demand for chips. Capacity expansion slows in 2023 due to weak demand in the #semiconductormarket and resulting inventory adjustments. "Recovering global market demand and strengthening government incentives are driving a surge in fab investment in major #chip manufacturing regions, with global capacity expected to grow by 6.4 percent in 2024," said Ajit Manocha, SEMI's president and chief executive officer. "The elevated worldwide spotlight on the strategic significance of semiconductor manufacturing for #national and #economic security is a key catalyst for these trends." The World Fab Forecast report covers the period from 2022 to 2024, when the global semiconductor industry plans to bring 82 new fabs into production, including 11 projects in 2023 and 42 projects in 2024, with wafer sizes ranging from 300mm to 100mm. #ElectronicComponents #perceptive-ic.com