The semiconductor research department of TrendForce TrendForce stated that the global wafer foundry market demand remained strong in the first quarter of 2021. Faced with the high demand for chips for end products, customers tend to increase their purchases, causing the supply and demand imbalance of wafer foundry capacity to continue.
Therefore, it is estimated that the operating performance of each industry will continue to strengthen. It is estimated that the total revenue of the world's top ten wafer foundry companies in the first quarter will increase by 20% year-on-year, among which the top three market shares are TSMC, Samsung, and UMC.
However, in the future, we need to pay attention to the reallocation of production capacity by wafer foundry manufacturers. While accelerating the production of automotive chips, it may indirectly affect the production and delivery schedules of related chips for consumer electronics, industrial use, etc.
TSMC's 5nm process wafer production is stable, and its revenue contribution remains at nearly 20%. The demand for 7nm process is strong, including orders from AMD, NVIDIA, Qualcomm, MediaTek, etc., which continue to pour in. It is estimated that the revenue contribution of 7nm will grow slightly to more than 30%. Due to the increase in demand for 5G and HPC (high-performance computing) applications, coupled with the recovery of automotive demand, it is estimated that TSMC's overall revenue in the first quarter will set a new high, an annual increase of about 25%.
As for Samsung, due to the increasing customer demand for 5G chips, CIS, driver ICs and HPC, Samsung will continue to increase its capital expenditure for the semiconductor business this year, investing in related businesses such as memory and foundry, demonstrating its determination to catch up with TSMC. In terms of process technology, the production capacity of 5nm and 7nm will remain high in the first quarter, and revenue is expected to increase by 11% year-on-year this quarter.
UMC's driver IC, PMIC, RF, and IoT application products continue to be produced, and with the influx of automotive demand, the capacity utilization rate in the first quarter was fully loaded, and revenue this quarter will increase by 14% year-on-year. GlobalFoundries continues to cooperate with the US Department of Defense to produce military chips, and also benefits from the surge in demand for automotive chips, which keeps its capacity utilization rate high, and estimates that revenue in the first quarter will increase by 8% year-on-year.
SMIC is included in the US Entity List, and its advanced process development is limited. It is estimated that the actual revenue of SMIC below 14nm (inclusive) in the first quarter will decrease; however, the market demand for mature processes above 40nm (inclusive) remains, and revenue can continue to grow with this process, with an estimated annual growth rate of 17%. TowerJazz will invest an additional US$150 million to expand production on a small scale, but it will still take time for the equipment to enter the factory and be calibrated. It will not have a substantial benefit to revenue until the second half of 2021. It is estimated that the revenue in the first quarter will be about the same as the fourth quarter of last year, with an annual growth of 15%.
Powerchip Semiconductor Manufacturing Co., Ltd. (PSMC) mainly produces memory, panel driver IC, CIS and PMIC. Currently, the demand for 8-inch and 12-inch wafer production capacity remains strong, and with the recent surge in automotive demand, the capacity utilization rate remains fully loaded, and the first quarter revenue is expected to increase by 20% year-on-year. VIS's various process capacities are fully loaded, and the first quarter revenue will continue to be driven by the increase in the scale of PMIC and small-size panel driver IC products, with a year-on-year increase of 26%.
Hua Hong Semiconductor (Hua Hong) focuses on the establishment of 12-inch production capacity in Wuxi. The research and development of NOR, BCD, Super Junction and IGBT in the 12-inch production line have passed reliability verification, adding new momentum to Hua Hong's development. In addition, the utilization rate of 8-inch production capacity continues to be fully loaded, and the same period last year was also a low base period, which is expected to drive the first quarter's revenue to grow by 42% year-on-year.
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