July McClean Report
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The July Update to the McClean Report reviews semiconductor industry capital spending and capacity. Semiconductor fabrication is an exceptionally capital-intensive process. Total semiconductor industry capital expenditures are forecast to rise only 4% this year, but stronger increases are expected for DRAM and NAND flash memory as growth returns in these segments after a downturn in 2023. Renesas, SK hynix, and Micron are expected to show some of the biggest percentage increases in capex spending in 2024, but Samsung, TSMC, and Intel continue to have the largest capex budgets. Semiconductor industry wafer capacity is expected to show a slim increase of 1% this year. Capacity for 300mm wafers is forecast to represent 80% of total industry capacity in 2024.
