TAIPEI (Taiwan News) — The country’s integrated circuit (IC) sector is likely to see its production grow by 17.7% in 2022, or double the rate of the global sector, reports said Friday (Feb. 18).

The production value of Taiwan’s IC sector would exceed NT$4.8 trillion (US$172.34 billion), compared to NT$4.08 trillion in 2021, recording a growth rate more than double the figure of 8.8% for the global semiconductor industry, according to the Taiwan Semiconductor Industry Association (TSIA).

The branch of the contract chipmakers was likely to be the best performing part of the sector, growing by 24% this year, UDN reported. Its success was for a large part reliant on the results of Taiwan Semiconductor Manufacturing Co. (TSMC).

The company was expanding its production capacity, building factories overseas and in Taiwan, while meeting increasing demand amid an international shortage of certain categories of chips.

Looking at other sectors of the semiconductor industry in Taiwan, IC design was expected to grow by 14%, chip testing by 8.4% and chip packaging by 9.1%, the report said.