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1、Photo by Joanna Kosinska Kearney,LondonBack-End Semiconductor Manufacturing Attractiveness IndexIn our recent Front-End Semiconductor Manufacturing Attractiveness Index study,we analyzed 21 countries and regions,ranking them based on their potential to attract front-end semiconductor investments to

2、their geographies.In formulating this index,we considered each country and regions incentive plans and other attributes,including the business environment and operating costs.However,the highly technical capabilities,specialized talent,and rare mineral access required for front-end manufacturing mea

3、nt that only a limited number of countries and regions qualified for inclusion in the study.We are now following up on that report with our Back-End Semiconductor Manufacturing Attractiveness Index,which evaluates 30 countries and regions on their suitability for hosting back-end semiconductor manuf

4、acturing within their borders.The somewhat larger number of countries and regions considered for this index is not a surprise.Compared with front-end manufacturing,the technological and capital requirements for the back-end process are significantly less demanding.This makes back-end semiconductor m

5、anufacturing accessible to a broader range of countries and regionsand an ideal steppingstone toward developing advanced front-end semiconductor manufacturing capabilities in the long term.IntroductionCompared with front-end manufacturing,the technological and capital requirements for the back-end p

6、rocess are significantly less demanding.1Back-End Semiconductor Manufacturing Attractiveness IndexFactors driving the Back-End Manufacturing Attractiveness Index In our evaluation of the attractiveness of locations for back-end semiconductor manufacturing,we have expanded our analysis to include a b

7、roader selection of 30 countries and regions.Figure 1 on page 3 and 4 defines 28 parameters segmented across business environment,capital incentives,and operational costs and incentives,generating a standardized score for each country.Understanding how back-end manufacturing differs from front-end m

8、anufacturingIts worth taking some time at the outset to consider the difference between the two stages of semiconductor manufacturing in slightly more detail.Front-end and back-end functions have significantly distinct processes,each requiring different considerations when determining the optimal lo

9、cation for setting up manufacturing capacity.The unique requirements of these two stages of semiconductor manufacturing result in some interesting variances between the lists of countries and regions that are ideally suited to support different parts of the semiconductor manufacturing value chain.Fr

10、ont-end manufacturing involves the conversion of silicon into designed wafers and is a highly technical process characterized by substantial capital expenditure requirements.It demands stringent intellectual-property protection laws due to the confidential nature of the technologies,processes,and pr

11、oducts involved.In addition,it demands an ample supply of highly skilled labor to support the technically advanced manufacturing operations.For its part,back-end manufacturing encompasses the testing and packaging of individual dies from the wafers produced by the front-end process.Back-end manufact

12、uring has made leaps of advances over time,improving technology,with increasing penetration of chiplets,2.5D and 3D packaging and packaging automation(lights out manufacturing)to reduce contamination and operational expenses.Despite the advancement of technology and automation,this stage remains les

13、s capital intensive compared to the front end and places more emphasis on operational costs,relative to capital expenditure.It also places relatively less onerous demands on countries and regions with regard to IP protection and provision of highly trained technical labor.Back-end manufacturing enco

14、mpasses the testing and packaging of individual dies from the wafers produced by the front-end process.2Back-End Semiconductor Manufacturing Attractiveness IndexSource:Kearney analysisFigure 1Countries and regions are segmented based on 28 attributes(1/2)ClusterPillarParametersDescriptionBusinessenv

15、ironment(30%)Ease of doing business and government supportFuture trade potentialAssessment of strategic MOUs with super hubs like United States or trade sanctions which will encourage or restrict future investment in the country.Regulatory environment scoreAggregate and individual governance indicat

16、ors for six dimensions of governance:voice and accountability;political stability and absence of violence or terrorism;government effectiveness;regulatory quality;rule of law;control of corruption.Business complexity index rankingThe index is generated from an in-depth survey in 77 jurisdictions,cov

17、ering three areas of business operations:accounting and tax;global entity management;payroll and human resources.IDM/OSAT presenceCurrent presence of IDM and OSAT(back-end)sites in every country.State of cluster development and depthCollected by the results of a survey.Well-developed clusters are co

18、nducive to the setup for a manufacturing firm because of a close-knit and well-functioning supply chain with component suppliers close by.Government online servicesA composite indicator measuring the use of information and communications technologies by governments in delivering public services at t

19、he national level.Time spent dealing with permitsTime in days required to obtain necessary construction permits by country.Quality of infrastructureCalculated from the following factors:road connectivity index;quality of roads;railroad density;efficiency of train services;airport connectivity;effici

20、ency of air transport services;linear shipping connectivity;efficiency of seaport services;electrification rate,electric power transmission and distribution losses;exposure to unsafe drinking water;reliability of water supply.Logistics performanceA multidimensional assessment of logistics performanc

21、e,the Logistics Performance Index(LPI)ranks 160 countries and regions,combining data on six core performance components into a single aggregate measure that includes customs performance,infrastructure quality,and timeliness of shipments.Electricity output Electricity production,measured at the termi

22、nals of all alternator sets in a station.In addition to hydropower,coal,oil,gas,and nuclear power generation,this indicator covers generation by geothermal,solar,wind,tide,and wave energy,as well as that from combustible renewables and waste.Total fresh waterTotal water in freshwater sources across

23、a country.A healthy amount of freshwater means low water prices and the probability of a stable supply.Risk of exposure to natural disastersQuantifies the disaster risks of various natural calamities.Graduates in science and engineeringThe number of tertiary-level graduates in STEM fields like in na

24、tural sciences,mathematics,statistics,information and technology,manufacturing,engineering.The availability of adequate STEM talent is vital to the long-term operation of a semiconductor plant.Renewable energy(%of total)Percentage of total energy output obtained from renewable sources.PISA scales in

25、 reading,mathematics,and sciencePISA is the Programme for International Student Assessment,established by the OECD(Organization for Economic Co-operation and Development).It measures 15-year-olds performance in reading,mathematics,and science.Research talent(%in businesses)Researchers in the busines

26、s enterprise sector,measured in full-time equivalence(FTE),refers to researchers as professionals engaged in the creation of new knowledge,products,processes,or systems,as well as in the management of these projects,broken down by sector.Country infrastructure and innovation focusPeople skills and a

27、vailability3Back-End Semiconductor Manufacturing Attractiveness IndexBack-End Semiconductor Manufacturing Attractiveness Index results Many of the developed countries and regions that were attractive destinations for front-end manufacturing are not necessarily viable options for back-end manufacturi

28、ng.Instead,developing countries and regions have emerged as frontrunners,offering an especially favorable environment to attract back-end manufacturing companies.Figure 2 on page 5 provides a detailed ranking of countries and regions,along with a breakdown of scores across three segments:business en

29、vironment,capital incentives,and operational costs and incentives.Source:Kearney analysisFigure 1Countries and regions are segmented based on 28 attributes(2/2)Capital incentives(20%)Capex incentivesConstruction and facility cost incentivesGeneral manufacturing incentives where capex incentive is pr

30、ovided to abate construction and facility costs.Operational costs and incentives(50%)Labor costs and incentivesSenior-level plant employee salaryThe average salary given to senior employees(managers and above)in a typical manufacturing plant.Land cost incentivesGeneral manufacturing incentives where

31、 capex incentive is provided to abate land costs.UtilitiesElectricity prices(per kWh in USD)The price for electricity in various countries and regions.Junior-to mid-level plant employee salary Average salary of general technicians and low-to mid-level employees in a typical manufacturing plant.Labor

32、 incentivesIncentives specific to hiring labor,such as subsidized salaries and training expenses.Water prices($per m3)Price of water per cubic meter in different countries and regions.Taxes,duties,and incentivesCorporate income taxCorporate income tax rates by country or region.Corporate income taxi

33、ncentivesAny incentives given by countries or regions in the form of an income tax rebate or tax holiday.Import duties,including incentivesDiscounted import duty rates specifically for semiconductor imports.Semiconductor-specific incentive budgetsQuantifies budgets allocated for either general semic

34、onductor incentives or incentives for back-end manufacturing specifically;excludes incentives intended solely for front-end manufacturing.Equipment cost incentivesGeneral manufacturing incentives where capex incentive is provided to abate equipment costs.ClusterPillarParametersDescriptionThe followi

35、ng index is based on a typical back-end manufacturing setup.However,it can be contextualized based on a specific projects goals and design,as the ideal geographic location varies depending on the specific requirements of the back-end facility.4Back-End Semiconductor Manufacturing Attractiveness Inde

36、xFigure 2Country and region scores can be broken down across three segmentsBack-end semiconductor manufacturing attractiveness indexPreliminarySource:Kearney analysisBusiness environmentCapital incentivesOperational costs and incentivesTaiwanSingaporeMainland ChinaMalaysiaIndiaUAEThailandSaudi Arabi

37、aVietnamKoreaPhilippinesJapanIndonesiaMexicoHungaryIsraelCzech RepublicPolandCanadaGermanySpainFranceCosta RicaItalyIrelandAustriaLithuaniaUKUSBrazil2.73.73.42.73.43.53.03.41.83.23.21.50.91.32.91.70.93.20.13.51.61.62.90.13.00.22.02.01.70.40.12.50.51.20.42.50.91.50.21.20.61.10.60.30.21.80.41.00.42.00

38、.90.11.70.90.70.50.80.70.61.20.91.80.41.42.01.40.91.91.51.10.72.20.91.22.11.21.92.31.81.21.62.00.81.95.75.55.35.24.94.94.84.64.54.44.44.34.34.34.26.04.04.24.03.93.93.83.83.83.73.53.43.33.23.15Back-End Semiconductor Manufacturing Attractiveness IndexIndia:the fastest up and comer The appeal of the wo

39、rlds most populous geography as a semiconductor assembly and testing market rests on the availability of skilled labor and relatively low operating costs.But India has also made some assertive moves on incentives as well.The Indian government has earmarked a substantial chip fund amounting to$10 bil

40、lion.This initiative encompasses diverse production-linked incentive schemes,covering up to 50 percent of total capital expenditures on a case-to-case basis.On the back of their generous incentives,in May 2024,India announced deals for two assembly,test,and packaging facilities,in collaboration with

41、 international companies such as Renesas from Japan and Stars Microelectronics.The facilities will have a combined capacity of around 63 million units per day and cater to a wide variety of applications such as automotive,electric vehicles,consumer electronics,telecom,and mobile phones.Many of the d

42、eveloped countries and regions that were attractive destinations for front-end manufacturing are not necessarily viable options for back-end manufacturing.Taiwan and mainland China:market leadersTaiwan and mainland China together dominate the global outsourced semiconductor assembly and test(OSAT)ma

43、rket,controlling more than 60 percent of its share.Among the top 10 OSAT vendors worldwide,six are based in Taiwan and three in mainland China.Unsurprisingly,Taiwan leads the index when it comes to establishing back-end manufacturing presence with favorable conditions across operational expenses,inc

44、entives,and business environments.Meanwhile,mainland China,despite its strong back-end presence and government support,ranks relatively lower due to heavy tariffs and trade restrictions imposed by a large number of countries and regions which would deter manufacturers from building/expanding presenc

45、e in mainland China.Furthermore,the recent trend toward decoupling East-West supply chains and the push to develop independent ecosystems necessitates consideration of alternative candidates in the back-end semiconductor market.Malaysia:an emerging leader as the world looks to diversifyIts not a sur

46、prise that Malaysia ranks as a top country/region(after Taiwan)for back-end semiconductor manufacturing,already commanding approximately 13 percent of the global assembly and testing market.This significant market share results from a sustained,multi-decade,government-backed initiative aimed at fost

47、ering a robust local semiconductor ecosystem.Malaysia offers a uniquely stable business environment compared to other developing regions,which is particularly attractive to investors.Additionally,it provides affordable skilled labor and a suite of incentives designed to attract electronics companies

48、.These incentives include a five-year income tax holiday for firms establishing manufacturing operations within the country and the exemption of import duties on raw materials and components.These advantages make Malaysia one of the most cost-effective markets among established semiconductor manufac

49、turing geographies.6Back-End Semiconductor Manufacturing Attractiveness IndexMiddle East emergenceDespite scoring low in capital incentives,Saudi Arabia and United Arab Emirates made it to the top 15 due to favorable operating expenses and business environments.Both countries have expressed interest

50、 in entering the semiconductor market:Saudi Arabias largest sovereign wealth fund(PIF)has recently set up a$100 billion new company,Alat,focused on advanced industries and semiconductors.Alat has already started to build the foundation of a semiconductor sector in the country with domestic(for insta

51、nce,KACST)and international(for example,SoftBank and Lenovo)partnerships.The company is also in discussion with other US firms for co-investment opportunities.The UAE,the second-largest economy of the region,is also very active in pursuing opportunities in the semiconductor sector.The country announ

52、ced the set-up of a technology investment companyMGXbacked by Mubadala and G42 and focused on world-leading partnerships in the country and globally in semiconductors(including logic and memory chip design and manufacturing)and AI infrastructure and core technologies.Poland and Hungary:strategic opt

53、ions within the EUPoland is the frontrunner among EU countries and regions.The Polish government has worked closely with companies such as Intel to provide customized incentives that are not available publicly.It is strategically well-positioned as the European Union strengthens its local semiconduc

54、tor network and offers a relatively lower operational-expense option to support its front-end fabrication facilities(fabs)in Germany,Ireland,and France.Hungary,despite having limited semiconductor presence,emerged as a strong contender in the Index as well,driven by highly competitive operational co

55、sts;the ready availability of infrastructure and talent;and great incentives for semiconductor manufacturing companies,such as up to 34 percent grants for labor and capex investments.Recent expansions by Infineon in 2022 in Hungary validate its attractiveness.Nonetheless,companies need to take polit

56、ical developments into account before making a long-term investment commitment to Hungary as with any other country or region.ASEAN alternatesAs global semiconductor manufacturing diversifies,ASEAN countries and regionsspecifically Thailand,Vietnam,Indonesia,and the Philippinesare strategically posi

57、tioning themselves to become attractive destinations for back-end manufacturing.These nations are developing comprehensive incentive packages and enhancing their talent pools and infrastructure to attract investments from global semiconductor companies.Thailand and Vietnam are leading this effort,th

58、anks to their established incentive programs,favorable business environments,and relatively strong ties with Western markets.Both countries are actively working to become preferred back-end partners for the United States,following Taiwan and Malaysia.Meanwhile,the Philippines and Indonesia offer com

59、petitive low-cost locations and are under consideration by many key Western government officials.However,their progress lags Thailand and Vietnam due to the absence of clear incentive packages and robust government support.7Back-End Semiconductor Manufacturing Attractiveness IndexRegional options fo

60、r North AmericaMexico and Costa Rica emerged as the best options for North America,as US executives and policymakers explore locations to create a nearshore manufacturing option with lower operational costs.Both countries boast excellent operational expense scores,although they lack incentives.If th

61、e US government were to provide incentives on behalf of these countries,they could become lucrative options for establishing a nearshore alternative to the Asia Pacific region and the Middle East.ConclusionThe demand for semiconductors is projected to grow by 7 percent annually until 2030,with a sha

62、rp increase in demand for AI-driven chips.Companies are reallocating production on existing lines as a short-term solution while simultaneously exploring capacity expansion to meet long-term needs.In 2023,Nvidias H100 chip faced shortages,prompting a rapid production increase by TSMC.Today,the spotl

63、ight is on high-bandwidth memory(HBM)chips,which are in short supply,with leading producers Micron and SK Hynix already sold out through 2024 and mid-2025.Additionally,companies are grappling with heightened geopolitical risks,driving them to seek alternative locations to establish a diversified man

64、ufacturing network.As companies continue to expand and diversify their manufacturing footprint,governments worldwide are increasingly recognizing the importance of a robust semiconductor industry within their borders and creating favorable environments to attract semiconductor companies.The above st

65、udy helps quantify the attractiveness of countries and regions for companies looking to establish the next back-end manufacturing plant.Combining the attractiveness scores with case-specific strategic factorssuch as regional industrial bases and type of facility(advanced or labor-intensive packaging

66、)will enable companies to identify the right country or region for their back-end semiconductor expansion plans.The demand for semiconductors is projected to increase by 7 percent annually until 2030.8Back-End Semiconductor Manufacturing Attractiveness IndexYoonsoo ParkPrincipal,Seoul Shiven Mahajan

67、Consultant,Gurugram Bhavtosh JadejaConsultant,Dallas The authors would like to thank Guido Hertel,Arndt Heinrich,Bharat Kapoor,Cheol Jae Kim,and Arun Singh for their valuable contributions to this report.Hieu PhamPartner,Chicago Keat YapPartner,Kuala Lumpur PS SubramaniamPartner,Dallas Jay MotaniPri

68、ncipal,San Francisco Authors9Back-End Semiconductor Manufacturing Attractiveness IndexFor more information,permission to reprint or translate this work,and all other correspondence,please email .A.T.Kearney Korea LLC is a separate and independent legal entity operating under the Kearney name in Kore

69、a.A.T.Kearney operates in India as A.T.Kearney Limited(Branch Office),a branch office of A.T.Kearney Limited,a company organized under the laws of England and Wales.2024,A.T.Kearney,Inc.All rights reserved.Kearney is a leading global management consulting firm.For nearly 100 years,we have been a trusted advisor to C-suites,government bodies,and nonprofit organizations.Our people make us who we are.Driven to be the difference between a big idea and making it happen,we work alongside our clients to regenerate their businesses to create a future that works for