2022-02-28-蒙田研究所-欧洲半导体_产业政策的回归（英）_30页_402kb

Summary of "Semiconductors in Europe: the return of industrial policy"

Core Content

This policy paper discusses the resurgence of industrial policy in the European Union (EU) to strengthen its semiconductor sector. It highlights the declining share of Europe in global semiconductor production and the need for a strategic response to geopolitical and market challenges. The paper emphasizes the importance of public and private investment, the role of research and innovation, and the necessity of building a resilient and competitive semiconductor ecosystem.

Main Points

1. Europe's Decline in Semiconductor Production

• Europe's share of global semiconductor production capacity dropped from 24% in 2000 to 8% in 2021.
• The decline is attributed to a lack of investment in advanced manufacturing and a focus on research rather than production.
• The EU is now implementing industrial policy tools to reverse this trend.

2. The Need for a Resilient Supply Chain

• Semiconductor shortages since 2020 have exposed Europe's vulnerability in global supply chains.
• The automotive industry, in particular, has been severely impacted, with a 2.4% decrease in car registrations in the EU in 2021.
• The EU is concerned about its dependency on foreign technology and components, especially from East Asia and the US.

3. Geopolitical Risks and Responses

• The US-China rivalry has created uncertainties for European semiconductor companies, particularly with export restrictions and technology transfer limitations.
• China's state-driven industrial policies have highlighted the need for Europe to adopt similar measures.
• The EU is now focusing on strategic autonomy and tech sovereignty to protect its industry from external pressures.

4. The EU Chips Act and Policy Instruments

• The EU Chips Act, introduced in early 2022, allows for State aid in the semiconductor sector, creating a special competition regime.
• The Act is part of a broader effort to mobilize public and private investment, including the use of Important Projects of Common European Interest (IPCEI).
• The goal is to increase Europe's global market share of semiconductor production to 20% by 2030.

5. Europe's Semiconductor Ecosystem

• Europe has leading companies in semiconductor design and manufacturing, such as STMicroelectronics, Infineon, and NXP.
• ASML leads in extreme ultraviolet (EUV) lithography, a key European technology.
• Europe also has strong R&D capabilities, with institutions like IMEC, CEA-Leti, and Fraunhofer driving innovation.
• However, Europe lacks world-leading fabless firms and foundries at the most advanced nodes.

6. The Role of Foundries and Market Demand

• Foundries at advanced nodes (e.g., 7nm and below) are critical for innovation and competitiveness.
• European IDMs (Integrated Device Manufacturers) are strengthening their production capacities but are not investing in advanced node foundries.
• Intel, TSMC, and GlobalFoundries are key players in the EU's semiconductor strategy, with potential for new foundry projects in Europe.
• Market demand is expected to grow significantly, driven by digital and green transformation, with Kearney estimating that European semiconductor consumption will double by 2030.

7. Policy Recommendations

• Financing the semiconductor ecosystem is essential to support investment and innovation.
• Nurturing human resources is a key factor in maintaining Europe's competitive edge.
• Creating an integrated European ecosystem is necessary to reduce dependency and enhance resilience.

Key Information

• The EU Chips Act and IPCEI are central to the EU's new industrial policy approach.
• ASML's EUV lithography is a major European technological asset, used by Samsung, TSMC, and Intel.
• Intel's 7nm fab is a potential game-changer for Europe, but it requires EUR 8 billion in subsidies.
• The 20% production target by 2030 is ambitious and would require a significant increase in production.
• Horizon Europe's Cluster 4 is a key R&D program supporting the semiconductor industry.
• Strategic autonomy and supply chain resilience are central to the EU's industrial policy objectives.

Conclusion

The paper underscores the importance of industrial policy in addressing the challenges faced by Europe's semiconductor sector. While the EU has traditionally favored market-driven innovation, recent geopolitical and economic developments have necessitated a shift towards public support for production. The success of the EU's strategy will depend on coordinating public and private investment, building a resilient supply chain, and differentiating Europe in the global value chain.