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2021/02/24
Demand in the global foundry market remains strong in 1Q21, according to TrendForce’s latest investigations As various end-products continue to generate high demand for chips, clients of foundries in turn stepped up their procurement activities, which subsequently led to a persistent shortage of production capacities across the foundry industry TrendForce therefore expects foundries to continue posting strong financial performances in 1Q21, with a 20% YoY growth in the combined revenues of the top 10 foundries, while TSMC, Samsung, and UMC rank as the top three in terms of market share However, the future reallocation of foundry capacities still remains to be seen, since the industry-wide effort to accelerate the production of automotive chips may indirectly impair the production and lead times of chips for consumer electronics and industrial applications
TSMC has been maintaining a steady volume of wafer inputs at its 5nm node, and these wafer inputs are projected to account for 20% of the company’s revenue On the other hand, owing to chip orders from AMD, Nvidia, Qualcomm, and MediaTek, demand for TSMC’s 7nm node is likewise strong and likely to account for 30% of TSMC’s revenue, a slight increase from the previous quarter On the whole, TSMC’s revenue is expected to undergo a 25% increase YoY in 1Q21 and set a new high on the back of surging demand for 5G, HPC, and automotive applications
In response to increased client demand for 5G chips, CIS, driver ICs, and HPC chips, Samsung will continue to raise its semiconductor CAPEX this year, which is divided between its memory and foundry businesses and represents Samsung’s desire to catch up to TSMC With regards to process technologies, the Korean company’s capacity utilization rates for the 5nm and 7nm nodes have been relatively high in 1Q21, during which Samsung is expected to increase its revenue by 11% YoY
In addition to chip demand from the automotive sector, UMC has been keeping up with manufacturing driver ICs, PMICs, RF front-end, and IoT products The company’s capacity thus remains fully loaded in 1Q21, and UMC is expected to undergo a 14% YoY increase in revenue GlobalFoundries is similarly experiencing high capacity utilization rates due to the increase in automotive chip demand, as well as the military chips that it has been manufacturing for the US Department of Defense GlobalFoundries’ revenue is expected to increase by 8% YoY in 1Q21
SMIC’s revenue for the 14nm and below nodes is expected to decline in 1Q21 as the company was added to the Entity List by the US and subsequently faced constraints in the development of advanced processes However, with the persistent demand in the foundry market for mature processes above (including) the 40nm node, SMIC’s revenue is projected to stay on a positive trajectory and reach a 17% YoY increase in 1Q21 TowerJazz will spend about US$150 million on a small-scale capacity expansion, but equipment move-in and calibrations will not be finalized until approximately 2H21, after which the expanded capacity will start measurably contributing to the company’s revenue In 1Q21, TowerJazz’s revenue is expected to be on par with the previous quarter while reaching a 15% increase YoY
PSMC is primarily focused on manufacturing memory products, DDICs, CIS, and PMICs At the moment, high demand for 8-inch and 12-inch wafer capacities and for automotive chips has resulted in fully loaded capacity for PSMC The company’s revenue is expected to increase by 20% YoY in 1Q21 Likewise, VIS’ capacity is fully loaded across all of its process technologies Driven by increased spec requirements for PMICs and small-sized DDICs, VIS’ revenue is expected to increase by 26% YoY in 1Q21 Finally, Hua Hong is currently placing considerable emphasis on expanding the 12-inch capacity of HH Fab7 in Wuxi Process technologies for 12-inch production lines, including NOR, BCD, Super Junction, and IGBT, have all passed qualifications, thereby injecting fresh momentum into Hua Hong’s development Furthermore, given Hua Hong’s fully loaded 8-inch capacities and the fact that its performance in 1Q20 represents a relatively low base period for YoY comparison, Hua Hong’s revenue may likely reach a 42% YoY increase in 1Q21
For more information on reports and market data from TrendForce’s Department of Semiconductor Research, please click here, or email Ms Latte Chung from the Sales Department at lattechung@trendforcecom
2020/12/07
Demand in the foundry market has remained strong in 4Q20, as production capacities across the industry remain fully loaded, with the tight supply of wafer capacities leading to a price hike in foundry services and subsequently driving up total quarterly industry revenue, according to TrendForce’s latest investigations The top 10 foundries’ revenues for 4Q20 are expected to exceed US$217 billion, an 18% increase YoY, with TSMC, Samsung, and UMC respectively taking the top three largest market shares
Thanks to high demand for 5G smartphone processors and HPC chips, TSMC has been seeing continued revenue growth from the 7nm process technology The company has also been including earnings from the 5nm process in its total revenue calculations since 3Q20, while the upward momentum is persisting throughout 4Q20 Finally, recovering demand for the 16-45nm process technologies, along with the abovementioned factors, is expected to help TSMC set a record high in quarterly revenue in 4Q20 with a 21% increase YoY Samsung will increase its 5nm production in order to meet the growing demand for smartphone SoCs and HPC chips, in addition to accelerating its EUV deployment Moreover, the development of smartphone SoCs manufactured with the 4nm process and the increase in 25D advanced packaging capacities will both propel Samsung’s earnings performance further, driving its revenue up by about 25% YoY in 4Q20
A steady stream of client orders for driver IC, PMIC, RF front-end, and IoT components resulted in maximum capacity utilization rates for UMC’s 8-inch fabs; UMC therefore raised the quotes for its 8-inch wafer starts In addition, UMC is continuing to finalize designs for client products to be subsequently manufactured using the 28nm process technology UMC’s revenue from 28nm and below processes is expected to reach a 60% increase YoY in 4Q20, while its total foundry revenue for 4Q20 is projected to increase by 13% YoY On the other hand, GlobalFoundries previously divested some of its facilities without increasing its existing production capacities, as part of its effort to downsize Although GlobalFoundries’ revenue for 4Q20 decreased by 4% YoY as a result, it is still expected to maintain a certain level of wafer capacity due to the massive RF chip demand brought about by the global 5G infrastructure build-out and due to increased client interest in biomedical sensor chips, which are manufactured with mature/special process technologies
SMIC has stopped all shipment to Huawei subsidiary HiSilicon since September 14 As the company’s other clients undertake trial production with the 14nm process, SMIC will be left with about two to three quarters of low 14nm capacity utilization Furthermore, after the US Department of Commerce placed SMIC on the Entity List, not only has the company been facing restrictions with equipment procurement, but its non-Chinese clients may also withdraw wafer orders Owing to the aforementioned factors, SMIC’s 4Q20 revenue is expected to reach an 11% decrease QoQ, but a 15% increase YoY, since the company’s quarterly revenue in 4Q19 represented a relatively low base period in comparison TowerJazz’s revenue for 4Q20 is likely to reach an 11% increase YoY thanks to stable market demand for RFICs and power ICs Having traditionally placed heavy emphasis on foundry development, PSMC’s production capacities have remained fully loaded, while a constant influx of client orders generates upward momentum for PSMC’s foundry business Its revenue for 4Q20 is expected to increase by 28% YoY
VIS’ 8-inch capacities have been in significant shortage The company’s 4Q20 revenue is expected to increase by 24% YoY on the backs of increased PMIC and LDDI wafer inputs as well as the price hikes for VIS’ foundry services Hua Hong’s 8-inch capacities are likewise fully loaded due to strong demand for MCU and power discretes, such as MOSFET and IGBT Hua Hong’s manufacturing operations for CIS and power discretes are expected to continue driving up its 12-inch capacity utilization rate, in turn generating an 11% increase YoY in its revenue for 4Q20 Finally, most of DB HiTek’s current business includes wafer starts for industry 40 chips, such as AI, IoT, and robotics chips DB HiTek’s capacity utilization rate has remained at max levels for 16 consecutive months, and the company’s revenue for 4Q20 is expected to increase by 16% YoY
TrendForce indicates that foundry revenue will undergo a steady uptick in 4Q20, since the explosive demand for certain products has led foundry clients to raise inventory levels by moving ahead their component procurement, leading to a shortage in foundries’ wafer capacities However, companies still need to pay close attention to US-China relations going forward as well as whether the pandemic’s global resurgence will negatively impact purchasing demand for end devices
2020/08/24
Downstream foundry clients are currently exhibiting strong demand due to upcoming year-end shopping festivities in Europe and North America and the National Day long weekend and Singles’ Day sales promotions in China, according to TrendForce’s latest investigations The strong momentum from downstream clients has in turn brought about a stable growth in foundries’ capacities and wafer input orders, with total foundry revenue projected to growth by 14% YoY in 3Q20
While TSMC’s 3Q20 revenue benefits from 5nm mass production, GlobalFoundries posts greatest YoY decrease in the top 10
TSMC’s revenue is projected to grow by 21% YoY in 3Q20, with its 7nm process technology contributing to most of the foundry’s revenue performance More specifically, TSMC is able to maintain maximum capacity utilization rate at its 7nm production lines thanks to strong demand from continued 5G infrastructure build-out and CPU/GPU demand from high-performance computing applications and WFH arrangements TSMC will begin including revenue from its 5nm process technology into its quarterly revenue calculations in 3Q20 The foundry is currently aiming to have revenue from its 5nm process technology account for 8% of its total yearly revenue TrendForce thus projects TSMC to derive 16% of its 3Q20 revenue from its 5nm process technology
Samsung has adjusted the wafer input levels for its in-house Exynos APs due to declining sales of its flagship S20 series smartphones However, wafer input orders from Samsung’s foundry clients in fear of chip shortages managed to galvanize a growth in Samsung’s foundry businesses despite the shortfall in Exynos wafer inputs As such, Samsung’s foundry business is expected to undergo an increase in quarterly revenue by about 4% in 3Q20 On the other hand, GlobalFoundries registered lower than expected revenue performance in 3Q20, reaching a 3% decrease YoY, due to its sale of 8-inch and 12-inch fabs in 2019 and declining demand for automotive chips
UMC’s price hike drives up its 3Q20 revenue, while PSMC’s 26% YoY growth takes the crown
Owing to increased wafer input demand for large-sized panel DDI and PMIC, UMC’s 8-inch capacity is expected to remain in short supply until 2021 By raising prices on some of its foundry services, UMC will likely improve its overall revenue in 3Q20, which is projected to reach a 23% increase YoY Products manufactured with legacy process technologies (above 14nm, 28nm) account for more than 90% SMIC’s revenue As SMIC’s 3Q19 revenue was a relatively low base period for comparison, its revenue is expected to increase by 16% YoY in 3Q20 It should be pointed out, however, that after the grace period of chip shipment to Huawei expires on September 15, 2020, SMIC’s 14nm orders may be affected and therefore remain to be seen
Retaining its focus on RF-SOI and SiGe development, TowerJazz’s 8-inch capacity utilization rate is estimated to hover around the 70% mark As the foundry continues to expand its 12-inch capacity, TowerJazz’s revenue is projected to grow by about 3% YoY in 3Q20 PSMC is continuing to expand its foundry business and see increased wafer input demand for DDI, TDDI, CIS, PMIC, and power discretes (MOSFET and IGBT) By raising its capacity utilization rate and the price of its foundry services, PSMC is likely to register a 26% YoY revenue growth in 3Q20, the highest percentage among the top 10 foundries
While VIS scores revenue growth courtesy of its maximum 8-inch capacity utilization rate, Hua Hong lowers prices in response to impact from the COVID-19 pandemic
The addition of its newly acquired Singapore fab has resulted in increased shipment for VIS Furthermore, VIS’ 8-inch production lines are currently reaching maximum capacity utilization rate due to the considerable growth in large-sized DDI and PMIC demand The foundry’s revenue growth is projected to reach 21% YoY in 3Q20 On the other hand, Hua Hong’s product mix has traditionally been dominated by consumer electronics, which account for more than 60% of said product mix In particular, entry-level and mid-range smartphone chips occupy most of this product category Whereas the pandemic led to subpar performances for these products, Hua Hong has now decided to lower its ASP and raise production capacity in response The foundry’s revenue is projected to decline by 1% YoY in 3Q20
Thanks to significant increases in CIS and DDI demand, DB HiTek’s production lines are currently at maximum capacity utilization rates At the moment, the foundry is not ruling out the possibility of a price hike, which is projected to raise its revenue in 3Q20 by a minor 2% YoY TrendForce indicates that, on the whole, despite the growth in downstream client demand, it remains vital for foundries and related companies to keep a close eye on whether these downstream clients are able to destock their inventories after the massive stock-up effort Only by paying close attention to industry dynamics can companies deliver appropriate strategies in a timely manner in the foundry market
