📊Executive Summary

The semiconductor industry is poised for a recovery in 2024, driven by AI demand and increased capacity, particularly in China. SEMI forecasts a 6.4% global growth in wafer capacity, reaching over 30 million wafers per month. China is expected to lead this growth with a 13% increase in capacity, while Taiwan and South Korea will also see expansions. This shift indicates a potential rise in competition and sourcing dynamics in the semiconductor market, particularly for memory chips and discrete semiconductors. Procurement teams should monitor these developments closely as they could influence sourcing strategies and pricing in the near future....