What is TSMC's forecast for foundry industry growth in 2021 in U.S. dollar terms 
. For the full year of 2021, we now forecast the overall semiconductor market excluding memory, to grow about 12%, while foundry industry growth is forecast to be about 16%. For TSMC, we are confident we can outperform the foundry revenue growth and grow by around 20% in 2021 in U.S. dollar terms.
Next, let me talk about our capital budget for this year. Every year, our capex is spent in anticipation of the growth that will follow in future years. As we enter a period of higher growth, underpinned by the multi-year structural megatrends of 5G related and HPC applications, we believe a higher level of capital investment is necessary to capture the future growth opportunities. In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full-year 2021 capex to be around $30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer 5-nanometer and 7-nanometer about 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.
Now, let me turn the microphone over to C. C.
C.C. Wei -- Chief Executive Officer
Thank you, Wendall. We hope everybody is staying safe and healthy during this time. First let me talk about the capacity shortage and demand outlook. Our customers are currently facing challenges from the industry wide semiconductor capacity shortage, which is driven by both structural increase in long-term demand, as well as short-term imbalance in the supply chain. We are witnessing a structural increase in underlying semiconductor demand, as a multi-year megatrend of 5G and HPC related applications are expected to fuel strong demand for our revised technologies in the next several years. COVID-19 has also fundamentally accelerated the digital transformation, making semiconductors more pervasive than essential in people's life. In addition, the need to ensure supply security is creating short-term imbalance in the supply chain, driven by supply chain disruption, due to COVID-19 and uncertainties brought about by geopolitical tensions.
Now let me talk about TSMC's investment plan and disciplines. TSMC's submission is to be the trusted technology and capacity provider for the global logica IC industry for years to come. In order to support our customers of course, TSMC is taking several actions to help adjust the capacity shortage for our customers. We are working hard to increase our productivity, to drive more output, to help support our customers for the near term.
To address the structural increase in the long-term demand profile. We are working closely with our customers, and investing to support the demand. We have acquired land and component, and started the construction of new facilities. We are hiring thousands of employees and expanding our capacity at multiple sites. TSMC expects to invest about $100 billion over the next three years to increase capacity, to support the manufacturing in R&D of leading edge and specialty technologies. Increase capacity expected to improve supply certainty for our customers and have strengthened confidence in global supply chains that rely on semiconductors.
Our capital investment decision based on four disciplines; technology leadership, flexible and responsive manufacturing, retaining customers' trust and earning the proper return. At the same time, we faced manufacturing cost challenges due to increasing process complexity at leading node. New investment in mature nodes, and rising material costs. Therefore, we are continuing to work closely with customers, to see our value. Our value improves the value of our technology, the value of our service and the value of our capacity support to customers.
We are looking to firm up our wafer pricing to a reasonable level. We will continue to work diligently with our suppliers to deliver on cost improvement. By taking such actions, we believe we can continue to earn a proper return that enable us to invest, to support our customers, of course, and
. For the full year of 2021, we now forecast the overall semiconductor market excluding memory, to grow about 12%, while foundry industry growth is forecast to be about 16%. For TSMC, we are confident we can outperform the foundry revenue growth and grow by around 20% in 2021 in U.S. dollar terms.
Next, let me talk about our capital budget for this year. Every year, our capex is spent in anticipation of the growth that will follow in future years. As we enter a period of higher growth, underpinned by the multi-year structural megatrends of 5G related and HPC applications, we believe a higher level of capital investment is necessary to capture the future growth opportunities. In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full-year 2021 capex to be around $30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer 5-nanometer and 7-nanometer about 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.
Now, let me turn the microphone over to C. C.
C.C. Wei -- Chief Executive Officer
Thank you, Wendall. We hope everybody is staying safe and healthy during this time. First let me talk about the capacity shortage and demand outlook. Our customers are currently facing challenges from the industry wide semiconductor capacity shortage, which is driven by both structural increase in long-term demand, as well as short-term imbalance in the supply chain. We are witnessing a structural increase in underlying semiconductor demand, as a multi-year megatrend of 5G and HPC related applications are expected to fuel strong demand for our revised technologies in the next several years. COVID-19 has also fundamentally accelerated the digital transformation, making semiconductors more pervasive than essential in people's life. In addition, the need to ensure supply security is creating short-term imbalance in the supply chain, driven by supply chain disruption, due to COVID-19 and uncertainties brought about by geopolitical tensions.
 Now let me talk about TSMC's investment plan and disciplines. TSMC's submission is to be the trusted technology and capacity provider for the global logica IC industry for years to come. In order to support our customers of course, TSMC is taking several actions to help adjust the capacity shortage for our customers. We are working hard to increase our productivity, to drive more output, to help support our customers for the near term.
To address the structural increase in the long-term demand profile. We are working closely with our customers, and investing to support the demand. We have acquired land and component, and started the construction of new facilities. We are hiring thousands of employees and expanding our capacity at multiple sites. TSMC expects to invest about $100 billion over the next three years to increase capacity, to support the manufacturing in R&D of leading edge and specialty technologies. Increase capacity expected to improve supply certainty for our customers and have strengthened confidence in global supply chains that rely on semiconductors.
Our capital investment decision based on four disciplines; technology leadership, flexible and responsive manufacturing, retaining customers' trust and earning the proper return. At the same time, we faced manufacturing cost challenges due to increasing process complexity at leading node. New investment in mature nodes, and rising material costs. Therefore, we are continuing to work closely with customers, to see our value. Our value improves the value of our technology, the value of our service and the value of our capacity support to customers.
We are looking to firm up our wafer pricing to a reasonable level. We will continue to work diligently with our suppliers to deliver on cost improvement. By taking such actions, we believe we can continue to earn a proper return that enable us to invest, to support our customers, of course, and