South Korea to topple Taiwan in semiconductor race by 2032

US SIA (Semiconductor Industry Association) predicts South Korea’s semiconductor production will surpass Taiwan to rank second by 2032 globally. A new report titled “Emerging Resilience in the Semiconductor Supply Chain” reveals shocking data.

The report estimates that South Korea’s semiconductor production will increase by 129% by 2032. This is the 2nd highest growth rate after the US (203%), whereas Europe (124%), Taiwan (97%), Japan (86%), and China (86%) all expected to lag behind South Korea.

South Korea’s semiconductor production is expected to account for 19% of the global semiconductor market in 2032. It’s up 2% points from its 17% share in 2022, putting it behind China with 21% but ahead of Taiwan with 17% and the US with 14%.

In particular, the US production will likely grow its share from 10 percent to 14 percent due to increased investment, moving up to fifth place behind Japan with 15%. The US could see its share of the 10nm-and-below foundry market increase from 0% to 28%.

Meanwhile, Korea’s share in the semiconductors market may decline from 31 percent to 9 percent. This is attributed to the US efforts to rebuild its semiconductor infrastructure and attract dominant Foundry players to produce cutting-edge semiconductors locally.

At the same time, South Korea is expected to foster its share of the memory market, including DRAM and NAND flash, the report says. DRAM, particularly, could rise from 52% to 57%, while NAND flash is expected to rise from 30% to 42%.

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