全球硅晶圆，重要转折

Core Insights - The global silicon wafer shipment is projected to grow by 5.8% annually, reaching 12,973 million square inches (MSI) by 2025, while revenue is expected to decline by 1.2% to $11.4 billion [1] - The demand for advanced epitaxial wafers for logic chips and polished wafers for high bandwidth memory (HBM) is expected to drive the overall shipment growth, particularly due to AI applications [1] - Revenue growth is limited due to insufficient recovery momentum in traditional semiconductor applications, with market demand and pricing conditions not showing significant improvement [1] Group 1 - The silicon wafer market from 2025 to 2026 is showing divergent developments across different process nodes, with strong demand for 300mm wafers in advanced applications, especially in AI-driven logic chips and HBM [4] - The introduction of 3nm process technology is benefiting the demand for advanced wafers, highlighting the importance of advanced material solutions as market requirements for wafer quality and consistency increase [4] - Continuous investment in data centers and generative AI is stabilizing the demand for high performance and high reliability in advanced processes [4] Group 2 - The mature process semiconductor market is gradually showing signs of stabilization, with automotive, industrial, and consumer electronics applications returning to normal inventory levels after prolonged adjustments [5] - Although supply and demand conditions are improving quarter by quarter, the overall recovery pace remains moderate, heavily influenced by the macroeconomic environment and dynamics of end markets [5] - The overall market outlook presents a dual-track development, with advanced processes maintaining robust growth and technological advancement, while mature processes exhibit cautious and gradual demand recovery [5]