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Overview on Taiwan Semiconductor Industry (2020 Edition) Taiwan Semiconductor Industry Association Rm. 1246, Bldg. 51, 195, Sec.4, Chung-Hsing Road Chutung, Hsinchu, Taiwan 31015 TEL: +886-3-5913477 FAX:+886-3-5820056 http://www.tsia.org.tw 1 Table of Contents I. Preface------------------------------------------------------3 II. Taiwan Semiconductor Industry in 2019 -----------4 IC Design ------------------------------------------------------- 6 IC Manufacturing --------------------------------------------- 8 IC Packaging and Testing---------------------------------- 10 III. Taiwan IC Market --------------------------- -----------12 IV. Outlook ----------------------------------------------------14 V. Directory of Taiwan Semiconductor companies-15 2 I. Preface This Overview on Taiwan Semiconductor Industry is a translated excerpt from an ITIS (Industrial Technology Information Services) publication, which provides an overview of Taiwan semiconductor industry in 2019. Also included is a directory of Taiwan semiconductor companies. These data should be valuable to those who wish to establish business relationship in Taiwan. ITIS is a market research project, which is supported primarily by the Taiwan government. For semiconductor portion of the project, research was conducted in Industrial Economics & Knowledge Center of Industrial Technology Research Institute (IEK/ITRI). Since the establishment of the Electronics Research and Service Organization of the Industrial Technology Research Institute (ERSO/ITRI) in early 1970’s and its successive spin-offs of UMC and TSMC in 1980’s, the semiconductor industry in Taiwan has been growing at a fast pace. Currently TSIA represents approximately 74.6% of worldwide IC foundry revenue, 56.5% of worldwide package and testing revenue, and 18.8% of worldwide design revenue. As the industry gains significant role in the global market place, information about Taiwan semiconductor industry is desirable worldwide. TSIA hopes this Overview on Taiwan Semiconductor Industry will serve as a useful reference for our global friends who seek to establish a closer connection with Taiwan semiconductor companies. We welcome your comments. 3 II. Taiwan Semiconductor industry in Year 2019 Overview of the Year Taiwan IC industry revenue (including design, manufacturing, packaging, and testing) totaled NT$2,665.6 billion (about US$86.3B) in 2019, up 1.7 % from 2018, with NT$692.8 billion (US$22.4B) in design, a 8.0% increase, NT$1,472.1 billion (US$47.6B) in manufacturing, a 0.9% decrease, NT$1,312.5 (US$42.5B) in foundry, up 2.1% and NT$159.6B (US$5.2B) in memory and other manufacturing, down 20.4%, NT$346.3 billion (US$11.2B) in packaging, a 0.5% increase, and NT$154.4 billion (US$5.0B) in testing, a 4.0% growth from 2018. (Exchange rate NT$/US$ was 30.9.) Table 1 Revenue of Taiwan IC Industry, 2019 19Q1 19Q1 19Q2 19Q2 19Q3 19Q3 19Q4 19Q4 NT$B 19Q1 19Q2 19Q3 19Q4 2019 19/18 /18Q4 /18Q1 /19Q1 /18Q2 /19Q2 /18Q3 /19Q3 /18Q4 Industry Revenue 564.3 -17.9% -6.4% 625.3 10.8% -2.0% 721.7 15.4% 4.4% 754.3 4.5% 9.8% 2,665.6 1.7% IC Design 147.8 -10.0% 7.7% 169.9 15.0% 4.7% 186.0 9.5% 4.7% 189.1 1.7% 15.1% 692,8 8.0% IC Manufacturing 306.9 -22.0% -14.1% 336.4 9.6% -4.7% 402.6 19.7% 5.5% 426.2 5.9% 8.3% 1,472.1 -0.9% Foundry 272.4 -22.1% -12.2% 299.0 9.8% 0.1% 356.1 19.1% 9.1% 385.0 8.1% 10.1% 1,312.5 2.1% Memory & Other 34.5 -21.6% -26.4% 37.4 8.4% -31.1% 46.5 24.3% -15.9% 41.2 -11.4% -6.4% 159.6 -20.4% Manufacturing IC Packaging 75.3 -15.4% -0.3% 81.0 7.6% -6.9% 93.5 15.4% 0.5% 96.5 3.2% 8.4% 346.3 0.5% IC Testing 34.3 -14.3% 3.3% 38.0 10.8% 5.6% 39.6 4.2% 0.8% 42.5 7.3% 6.3% 154.4 4.0% Product Revenue 182.3 -12.5% -1.0% 207.3 13.7% -4.2% 232.5 12.2% -0.2% 230.3 -0.9% 10.6% 852.4 1.3% WW Revenue (US$B) - - - - - - - - - - - - 412.3 -12.0% & Growth (%) (e): estimate Source：TSIA, ISTI-ITRI (June 2020) Note: • IC Industry Revenue = IC design + Manufacturing + Packaging + Testing • IC Production Revenue = IC Design + Memory and Other Manufacturing • IC Manufacturing Revenue = Foundry + Memory and Other Manufacturing • Only companies head-quartered in Taiwan are included in the revenue calculations. 4 Table 2 Revenue of Taiwan IC Industry, 2016-2020 2020 NT$B 2016 16/15 2017 17/16 2018 18/17 2019 19/18 20/19 (e) Industry Revenue 2,449.3 8.2% 2,462.3 0.5% 2,619.9 6.4% 2,665.6 1.7% 2,810.9 5.5% IC Design 653.1 10.2% 617.1 -5.5% 641.3 3.9% 692.8 8.0% 722.3 4.3% IC Manufacturing 1,332.4 8.3% 1,368.2 2.7% 1,485.6 8.6% 1,472.1 -0.9% 1,579.0 7.3% Foundry 1,148.7 10.4% 1,206.1 5.0% 1,285.1 6.6% 1,312.5 2.1% 1,434.8 9.3% Memory & Other 183.7 -16.8% 162.1 -11.8% 200.5 23.7% 159.6 -20.4% 144.2 -9.6% Manufacturing IC Packaging 323.8 4.5% 333.0 2.8% 344.5 3.5% 346.3 0.5% 352.0 1.6% IC Testing 140.0 6.5% 144.0 2.9% 148.5 3.1% 154.4 4.0% 157.6 2.1% Product Revenue 836.8 2.9% 779.2 -6.9% 841.8 8.0% 852.4 1.3% 866.5 1.7% WW Revenue (US$B) & 338.9 1.1% 412.2 21.6% 468.8 13.7% 412.3 -12.0% 426.0 3.3% Growth (%) (e): estimate Source：TSIA, ISTI-ITRI (June 2020) By the end of 2019, Taiwan Semiconductor industry consisted of 238 IC fabless design houses, 15 fabrication companies, 37 packaging and testing houses, 6 substrate suppliers, 11 wafer suppliers, 3 mask makers, and 4 lead frames companies (Figure 1). Fig. 1 Unique Infrastructure in Taiwan (2019) 5 IC Fabless Companies There were 238 design houses in Taiwan (Table 3) in 2019. Driven by the growing demand for AIoT, Touch/Display Integration (TDDI) IC and TWS, Taiwan IC design revenue was $692.8 billion, an 8.0% increase from the previous year. Taiwan still follows behind the US as the world’s second strongest presence in this field, and accounts for 18.8% of worldwide IC design market. That percentage is expected to raise up to 19.3% in 2020, continuing to benefit from the US-China trade war. Taiwan IC design companies invested NT$125.5 billion in R&D in 2019, which represented 18.1% of total Taiwan fabless revenue. The R&D expense is expected to increase to NT$128.0 billion in 2020. Table 3 Major Indices of Taiwan IC Design Business 2016 2017 2018 2019 2020(e) # of Companies 240 240 238 238 236 Revenue(NT$B) 653.1 617.1 641.3 692.8 722.3 Growth (%) 10.2% -5.5% 3.9% 8.0% 4.3% WW Market Share 19.4% 18.0% 17.0% 18.8% 19.3% WW Ranking 2 2 2 2 2 Value Added 218.9 225.0 163.9 158.9 179.6 (NT$B) Value Added Rate (%) 25.1% 25.7% 28.0% 31.6% 31.2% R&D Employee (p) 29,887 29,555 30,005 30,300 30,250 R&D Expense 125.5 128.0 109.0 108.0 115.5 (NT$B) R&D Expense/ Revenue (%) 16.7% 17.5% 18.0% 18.1% 17.7% Workforce(P) 42,000 41,000 41,500 41,800 41,750 Average revenue per workforce 16.6 17.3 15.6 15.1 15.5 (NT$M) Note: (e) stands for estimate Source：TSIA, ISTI-ITRI (June 2020) 6 Table 4 Top 10 Fabless Companies in Taiwan, 2019 NT$B 2019 Ranking 2018 Ranking Companies 2019 Revenue 2018 Revenue Growth (%) 1 1 Mediatek 246.2 238.2 3.4% 2 2 Novatek 64.4 54.8 17.5% 3 4 Realtek 60.7 45.8 32.5% 4 3 PHISON 44.7 40.8 9.6% 5 5 Himax 20.7 21.8 -5.0% 6 6 Silicon Motion 14.1 15.9 -11.3% 7 9 Raydium 13.9 13.5 3.0% 8 10 Sitronix 13.8 11.6 19.0% 9 8 ESMT 12.0 11.0 9.1% 10 7 Global Unichip 10.7 10.3 3.9% Note: Based on companies’ combined revenue. Source：Company Statement; TSIA, ISTI-ITRI (June 2020) Table 4 shows the top 10 Taiwan Fabless Companies in 2019. Mediatek remained at the top and generated a revenue of NT$246.2B in 2019, an increase of 3.4% from 2018, but still accounted for 35.5% of Taiwan’s IC Design revenue. Novatek came second, generating a revenue of NT$64.4B, while Realtek came third with a revenue of NT$60.7B, a drastic growth of 32.5%. 7 IC Manufacturing As of 2019, there were 15 IC wafer fabrication companies in Taiwan, including foundry companies such as TSMC, UMC, PSMC (formerly Powerchip), Vanguard, Episil, Mosel, Lite-on Semiconductor, AMPI, Maxchip, Win Semiconductors, Nuvoton and AWSC; memory manufacturers such as Winbond, MXIC, and Nanya Technology.
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