YMTC Ranks 3rd Globally! NAND Flash Market Surges 73% QoQ in Q2 2026

As AI workloads expand from training to inference, enterprise SSDs have become a storage necessity, supporting the continued growth in NAND Flash shipments from manufacturers. However, manufacturers have adopted a conservative stance toward NAND Flash capacity expansion, with structural prioritization given to DRAM/HBM, resulting in limited new NAND Flash capacity. In Q2 2026, driven by AI demand, the global NAND Flash market continued to face a supply shortfall, allowing manufacturers to maintain strong pricing power. This drove a significant increase in average selling prices (ASP), with price growth notably outpacing shipment volume growth. Under the combined effect of rising prices and volumes, NAND Flash revenue for all manufacturers continued to grow QoQ in Q2. According to CFM Analysis, the global NAND Flash market continued to expand in Q2 2026, growing 73.1% QoQ to reach $76.776 billion.

Specifically:

Samsung saw its NAND ASP rise 67%–69% QoQ in Q2, with NAND bit shipments hitting a record high, driving NAND Flash revenue up 65.7% QoQ. Its market share stood at 27.5%, firmly holding the No. 1 position.

SK Hynix saw its enterprise SSD revenue double QoQ, while continued ramp-up of its advanced 321-layer products propelled overall NAND Flash revenue up 89.1% QoQ. Its market share was 18.5%, ranking second.

YMTC (Yangtze Memory Technologies), benefiting from the domestic substitution trend and its cost-performance advantage, has been expanding its application scope among domestic manufacturers. Its NAND Flash revenue grew 69.1% QoQ in Q2, with a market share of 15.0%, ranking third.
Kioxia saw a substantial QoQ increase in product ASP, with BiCS8 FLASH accounting for over 50% of its production capacity, driving NAND Flash revenue up 73.5% QoQ. Its market share was 14.4%, ranking fourth.

Micron, although achieving only mid-single-digit QoQ growth in NAND bit shipments in Q2 (March–May 2026), saw its ASP surge over 80% QoQ, propelling NAND Flash revenue up 99.0% QoQ. Its market share reached 13.0%, jumping to fifth place.

SanDisk achieved QLC product shipments and recognized related revenue in Q2, with overall NAND Flash revenue growing 50.7% QoQ. Its market share was 11.7%, ranking sixth.

Looking ahead to Q3, consumer demand remains soft, while AI-driven demand for enterprise products will continue to be the primary pillar of manufacturers' NAND Flash revenue. A divergence exists between North American and domestic (Chinese) markets: in North America, the sustained release of AI computing dividends will continue to support robust procurement demand from customers; meanwhile, in China, procurement momentum has relatively slowed due to the deepening adoption of CSP self-developed drives and disruptions from server supply chain completeness issues. Against this backdrop, manufacturers are expected to continue allocating their limited capacity toward the server market and North American customers.

Although the overall supply-tight situation in the NAND Flash market has shown some signs of easing, the market remains firmly in sellers' favor with no substantive shift in dynamics. Prices, which are expected to remain at elevated levels with further upside potential, will support the continued growth of manufacturers' NAND Flash revenue into Q3.