SK Hynix forecasts that DRAM demand will grow by 20-25% in 2027, while NAND demand is expected to rise in the high-teens to low-20% range. CEO Kwak Noh-jung anticipates that the memory industry will face its most severe supply shortage in 2027, with demand likely to exceed supply beyond 2030.
The primary driver for this growth is the expansion of AI infrastructure. High-bandwidth memory (HBM) is projected to consume nearly 30% of total DRAM wafer capacity in 2027, an increase from the current 20%. Because HBM production requires more wafer capacity than conventional memory, its growth directly reduces the supply available for standard devices.
Manufacturers have already secured long-term contracts for 70-80% of their planned 2027 DRAM and NAND output. For HBM specifically, nearly 100% of production is already committed. These pre-existing agreements provide revenue stability for chipmakers but are expected to increase costs for cloud operators and PC manufacturers.
The industry faces significant production bottlenecks, including long lead times for manufacturing equipment. While potential shifts in wafer allocation or faster equipment deliveries could alter the market, current projections suggest that the supply-demand imbalance will persist for several years.
