📊Executive Summary

The global chip shortage, exacerbated by a critical shortage of Ajinomoto build-up film (ABF) substrate, is expected to persist beyond 2023. This shortage has significantly impacted the semiconductor industry, particularly affecting major companies like AMD, Intel, and Nvidia, which are struggling to maintain stock levels. The demand for ABF substrate is projected to increase by 18-19% annually through 2024, while production is only expected to grow at 16%. Notably, Unimicron's fabrication capacity is fully booked until 2025, indicating a long-term supply constraint. This situation is likely to lead to increased prices and extended lead times for various integrated circuits, further complicating procurement strategies in the semiconductor sector....