HBM Industry Analysis - 4Q25

Last Modified

2025-10-31

Update Frequency

Quarterly

Format

PDF

Major suppliers are expanding HBM capacity, with 2025 shipments revised upward. SK hynix leads with 150K TSV capacity, while Micron ramps up its Taiwan facilities. By 2026, all three will begin HBM4 mass production, with Samsung's shipment growth expected to lead.

Key Highlights

AI chip demand favors next‑gen high‑stack HBM and supplier product shifts.
Yield and certification constrain near‑term supply; back‑end capacity buildout is critical.
NVIDIA raised HBM4 specifications, and after suppliers resubmitted samples, the 2026 procurement share remains uncertain.

Introduction
Memory Suppliers' Figures for HBM Output and TSV Processing Capacity
- Three Major Memory Suppliers' HBM Output Figures and Corresponding Market Shares
Analysis of HBM Generations and Die Stack Levels
Updates on New Backend Packaging and Testing Facilities
Analysis of HBM Demand
- Distribution of HBM Bit Consumption in 2025 and 2026
HBM S/D Ratio
- HBM S/D Ratio
Analysis on Prices and Revenue of HBM
- Blended ASP of HBM
- Revenue Share of HBM Products
- Revenue Share of HBM Suppliers