Global Memories Market's Upward Trajectory With a 2.8% Volume CAGR Forecast Through 2035

IndexBox has just published a new report: World - Multichip Integrated Circuits: Memories - Market Analysis, Forecast, Size, Trends And Insights.

The article provides a comprehensive analysis of the global multichip integrated circuits (memories) market from 2013 to 2025, with forecasts to 2035. In 2025, global consumption declined to 43B units ($98.9B in value) from a 2021 peak. The market is forecast to grow at a CAGR of +2.8% in volume and +3.1% in value from 2025 to 2035, reaching 57B units and $134.5B by 2035. China is the largest consumer (31% share) and importer (46% share). Key production hubs are Singapore, South Korea, and Taiwan. Global trade saw imports of 87B units ($193.5B) and exports of 80B units ($199.9B) in 2025, with notable growth in Vietnam's imports and China's export value.

Key Findings

• Market forecast to grow at +2.8% volume CAGR and +3.1% value CAGR from 2025 to 2035, reaching 57B units and $134.5B
• China is the dominant consumer and importer, accounting for 31% of global consumption and 46% of imports by volume
• Vietnam recorded the highest growth rate in import value among major countries, with a CAGR of +24.8% from 2013-2025
• Global production in 2025 was led by Singapore, South Korea, and Taiwan, which together produced 53% of the world's output
• Average import and export prices showed resilience, increasing at average annual rates of +3.9% and +4.6% respectively since 2013

Market Forecast

Driven by increasing demand for multichip integrated circuits: memories worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2025 to 2035, which is projected to bring the market volume to 57B units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2025 to 2035, which is projected to bring the market value to $134.5B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Multichip Integrated Circuits: Memories

Global memories consumption declined to 43B units in 2025, with a decrease of -5.1% on the year before. Overall, the total consumption indicated measured growth from 2013 to 2025: its volume increased at an average annual rate of +3.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2025 figures, consumption decreased by -29.1% against 2021 indices. Global consumption peaked at 61B units in 2021; however, from 2022 to 2025, consumption failed to regain momentum.

The global memories market value declined to $98.9B in 2025, with a decrease of -7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate buoyant growth. Global consumption peaked at $134.2B in 2021; however, from 2022 to 2025, consumption failed to regain momentum.

Consumption By Country

China (13B units) constituted the country with the largest volume of memories consumption, comprising approx. 31% of total volume. Moreover, memories consumption in China exceeded the figures recorded by the second-largest consumer, Hong Kong SAR (5.8B units), twofold. The third position in this ranking was taken by Taiwan (Chinese) (5.7B units), with a 13% share.

From 2013 to 2025, the average annual growth rate of volume in China was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: Hong Kong SAR (+1.4% per year) and Taiwan (Chinese) (+13.3% per year).

In value terms, China ($27.1B), Taiwan (Chinese) ($15.2B) and Hong Kong SAR ($7.8B) appeared to be the countries with the highest levels of market value in 2025, with a combined 51% share of the global market. South Korea, Vietnam, Malaysia, the United States, France, Japan and Mexico lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +24.8%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2025, the highest levels of memories per capita consumption was registered in Hong Kong SAR (746 units per person), followed by Taiwan (Chinese) (244 units per person), Malaysia (54 units per person) and South Korea (43 units per person), while the world average per capita consumption of memories was estimated at 5.3 units per person.

In Hong Kong SAR, memories per capita consumption remained relatively stable over the period from 2013-2025. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Taiwan (Chinese) (+13.3% per year) and Malaysia (+6.4% per year).

Production

World's Production of Multichip Integrated Circuits: Memories

In 2025, production of multichip integrated circuits: memories was finally on the rise to reach 36B units after three years of decline. Over the period under review, production continues to indicate pronounced growth. The growth pace was the most rapid in 2018 with an increase of 60% against the previous year. Over the period under review, global production hit record highs at 49B units in 2021; however, from 2022 to 2025, production failed to regain momentum.

In value terms, memories production soared to $80.8B in 2025 estimated in export price. In general, production saw temperate growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 60%. Global production peaked at $114.6B in 2021; however, from 2022 to 2025, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2025 were Singapore (6.8B units), South Korea (6.1B units) and Taiwan (Chinese) (6B units), together comprising 53% of global production. Japan, Hong Kong SAR, the United States and France lagged somewhat behind, together comprising a further 40%.

From 2013 to 2025, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Hong Kong SAR (with a CAGR of +24.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World's Imports of Multichip Integrated Circuits: Memories

In 2025, the amount of multichip integrated circuits: memories imported worldwide shrank to 87B units, falling by -3.2% on the year before. In general, total imports indicated a tangible increase from 2013 to 2025: its volume increased at an average annual rate of +2.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2025 figures, imports decreased by -24.3% against 2021 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. Global imports peaked at 115B units in 2021; however, from 2022 to 2025, imports remained at a lower figure.

In value terms, memories imports declined to $193.5B in 2025. Overall, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. Global imports peaked at $272.6B in 2021; however, from 2022 to 2025, imports stood at a somewhat lower figure.

Imports By Country

China represented the main importing country with an import of about 41B units, which amounted to 46% of total imports. It was distantly followed by Hong Kong SAR (20B units), Taiwan (Chinese) (7.8B units) and South Korea (5.1B units), together generating a 37% share of total imports. Singapore (2.5B units), Malaysia (2.1B units) and Vietnam (1.9B units) held a minor share of total imports.

Imports into China increased at an average annual rate of +3.5% from 2013 to 2025. At the same time, Vietnam (+67.0%), Taiwan (Chinese) (+10.1%), Malaysia (+5.6%) and South Korea (+2.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +67.0% from 2013-2025. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Singapore (-2.0%) illustrated a downward trend over the same period. From 2013 to 2025, the share of China, Taiwan (Chinese) and Vietnam increased by +6.4, +5.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($82.4B) constitutes the largest market for imported multichip integrated circuits: memories worldwide, comprising 43% of global imports. The second position in the ranking was taken by Hong Kong SAR ($27.2B), with a 14% share of global imports. It was followed by Taiwan (Chinese), with a 13% share.

In China, memories imports increased at an average annual rate of +5.0% over the period from 2013-2025. In the other countries, the average annual rates were as follows: Hong Kong SAR (+4.7% per year) and Taiwan (Chinese) (+14.8% per year).

Import Prices By Country

In 2025, the average memories import price amounted to $2.2 per unit, reducing by -8.6% against the previous year. Over the period under review, import price indicated a perceptible increase from 2013 to 2025: its price increased at an average annual rate of +3.9% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2025 figures, memories import price increased by +13.1% against 2023 indices. The pace of growth appeared the most rapid in 2024 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $2.4 per unit, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2025, amid the top importers, the country with the highest price was Malaysia ($4.7 per unit), while Hong Kong SAR ($1.4 per unit) was amongst the lowest.

From 2013 to 2025, the most notable rate of growth in terms of prices was attained by Malaysia (+11.6%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Multichip Integrated Circuits: Memories

After three years of decline, shipments abroad of multichip integrated circuits: memories increased by 12% to 80B units in 2025. Overall, total exports indicated a noticeable increase from 2013 to 2025: its volume increased at an average annual rate of +2.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2025 figures, exports decreased by -23.2% against 2021 indices. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Over the period under review, the global exports reached the maximum at 104B units in 2021; however, from 2022 to 2025, the exports failed to regain momentum.

In value terms, memories exports rose notably to $199.9B in 2025. Over the period under review, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 51%. The global exports peaked at $269.5B in 2021; however, from 2022 to 2025, the exports failed to regain momentum.

Exports By Country

In 2025, China (27B units), distantly followed by Hong Kong SAR (18B units), South Korea (8.9B units), Singapore (8.6B units), Taiwan (Chinese) (8.2B units) and Japan (5.4B units) represented the major exporters of multichip integrated circuits: memories, together making up 95% of total exports.

From 2013 to 2025, the biggest increases were recorded for China (with a CAGR of +5.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($73.6B), South Korea ($39.8B) and Hong Kong SAR ($30.7B) constituted the countries with the highest levels of exports in 2025, together comprising 72% of global exports.

China, with a CAGR of +12.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average memories export price stood at $2.5 per unit in 2025, flattening at the previous year. In general, export price indicated temperate growth from 2013 to 2025: its price increased at an average annual rate of +4.6% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2025 figures, memories export price increased by +8.6% against 2023 indices. The pace of growth appeared the most rapid in 2017 an increase of 35%. Over the period under review, the average export prices reached the maximum at $2.6 per unit in 2021; however, from 2022 to 2025, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($4.5 per unit), while Singapore ($1.5 per unit) was amongst the lowest.

From 2013 to 2025, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform