TAIPEI (Taiwan News) — Taiwan was the leading market for semiconductor materials in 2022, the SEMI business association said Wednesday (June 14).

The global figure was US$72.7 billion (NT$2.23 trillion), while Taiwan accounted for US$20.01 billion of that total, per CNA. The country’s performance as the world’s largest consumer of semiconductor materials was mainly based on foundry capacity and on its advanced level of chip packaging.

The global market revenue for chip materials showed an increase of 8.9% compared to 2021, while Taiwan surged by 13.6%. Last year’s figures saw the country stay at the top for the 13th year running, according to the SEMI Materials Market Data Subscription.

China came second, rising 7.3% to US$13 billion, closely followed by South Korea at US$12.9 billion, recording an increase of 6.33%.