By Jill Jusko The Semiconductor Industry Assn.'s (SIA) midyear forecast is projecting an industrywide recovery in the second half of 2001 that will spur growth of 20.5% in 2002 and 25% in 2003. "Despite the sales decline brought on by the excess inventory this year, the semiconductor market is still projected to grow from $149 billion dollars in 1999 to $283 billion by 2004, a compound annual growth rate of almost 14%," says Kirk Pond, president, CEO, and chairman of Fairchild Semiconductor Corp. Pond delivered the midyear forecast for the SIA. According to the Redwood City, Calif.-based industry association, the America's market will remain the world's largest in sales revenue during the next four years, with the Asia Pacific market (non-Japan) closing in. While the America's market will decrease 22% to $50 billion in 2001, it will grow to $60 billion in 2002, $75 billion in 2003, and $76 billion in 2004, forecast highlights show.