Memories Market

The article discusses the current and future trends in the global market for multichip integrated circuits: memories. Consumption of memories is expected to increase over the next eight years, with forecasted growth in market volume and value. China leads in both consumption and production of memories, while Singapore shows the highest growth rate in exports. The article also covers detailed analysis of consumption, production, imports, and exports trends by various countries over the past decade, providing valuable insights into the market dynamics.

Market Forecast

Driven by increasing demand for multichip integrated circuits: memories worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 66B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $175.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Multichip Integrated Circuits: Memories

In 2022, after three years of growth, there was significant decline in consumption of multichip integrated circuits: memories, when its volume decreased by -17.3% to 53B units. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 64B units in 2021, and then reduced remarkably in the following year.

The global memories market value reduced to $148.7B in 2022, with a decrease of -11.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $168.8B in 2021, and then declined in the following year.

Consumption By Country

The country with the largest volume of memories consumption was China (17B units), accounting for 31% of total volume. Moreover, memories consumption in China exceeded the figures recorded by the second-largest consumer, France (5B units), threefold. Hong Kong SAR (4.3B units) ranked third in terms of total consumption with an 8.1% share.

In China, memories consumption increased at an average annual rate of +4.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: France (+27.8% per year) and Hong Kong SAR (-1.3% per year).

In value terms, China ($38.8B) led the market, alone. The second position in the ranking was taken by India ($9.6B). It was followed by South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +8.5%. The remaining consuming countries recorded the following average annual rates of market growth: India (+9.9% per year) and South Korea (+32.2% per year).

The countries with the highest levels of memories per capita consumption in 2022 were Singapore (687 units per person), Hong Kong SAR (564 units per person) and France (74 units per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by France (with a CAGR of +27.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Multichip Integrated Circuits: Memories

Global memories production shrank to 45B units in 2022, dropping by -11.7% compared with the previous year. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40%. As a result, production reached the peak volume of 73B units. From 2018 to 2022, global production growth failed to regain momentum.

In value terms, memories production shrank to $134.5B in 2022 estimated in export price. Over the period under review, production continues to indicate a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Global production peaked at $158B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Singapore (15B units), South Korea (9.2B units) and Japan (6.4B units), together accounting for 68% of global production. France, the United States and India lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +22.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Multichip Integrated Circuits: Memories

In 2022, purchases abroad of multichip integrated circuits: memories decreased by -9.6% to 107B units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Over the period under review, global imports reached the maximum at 119B units in 2021, and then dropped in the following year.

In value terms, memories imports declined to $240.8B in 2022. In general, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 39%. Over the period under review, global imports hit record highs at $272.6B in 2021, and then shrank in the following year.

Imports By Country

In 2022, China (41B units) was the main importer of multichip integrated circuits: memories, mixing up 39% of total imports. Hong Kong SAR (23B units) held the second position in the ranking, distantly followed by Taiwan (Chinese) (13B units), Singapore (9.2B units) and South Korea (5.8B units). All these countries together held near 47% share of total imports. Malaysia (2.7B units) and Japan (2.1B units) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +10.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($101.3B) constitutes the largest market for imported multichip integrated circuits: memories worldwide, comprising 42% of global imports. The second position in the ranking was held by Hong Kong SAR ($39.9B), with a 17% share of global imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +12.1%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+10.8% per year) and Taiwan (Chinese) (+10.6% per year).

Import Prices By Country

The average memories import price stood at $2.2 per unit in 2022, declining by -2.3% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, memories import price increased by +15.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 17% against the previous year. As a result, import price attained the peak level of $2.3 per unit, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($3.7 per unit), while Singapore ($1.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Multichip Integrated Circuits: Memories

In 2022, the amount of multichip integrated circuits: memories exported worldwide shrank to 100B units, falling by -6% on the previous year. In general, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +5.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 25%. Over the period under review, the global exports reached the peak figure at 106B units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, memories exports dropped to $244.7B in 2022. Overall, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 51%. The global exports peaked at $269.5B in 2021, and then reduced in the following year.

Exports By Country

The biggest shipments were from China (25B units), Singapore (20B units) and Hong Kong SAR (19B units), together resulting at 64% of total export. It was distantly followed by South Korea (12B units), Taiwan (Chinese) (9.8B units) and Japan (7.1B units), together committing a 29% share of total exports. Malaysia (1.9B units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Singapore (with a CAGR of +16.2%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($70.3B), South Korea ($61.8B) and Hong Kong SAR ($37.6B) were the countries with the highest levels of exports in 2022, together accounting for 69% of global exports. Taiwan (Chinese), Singapore, Japan and Malaysia lagged somewhat behind, together comprising a further 27%.

Among the main exporting countries, Malaysia, with a CAGR of +22.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average memories export price amounted to $2.5 per unit, declining by -3.4% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, memories export price increased by +67.2% against 2015 indices. The growth pace was the most rapid in 2017 an increase of 21%. The global export price peaked at $2.5 per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($5 per unit), while Singapore ($0.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+26.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform