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The global market value of IC substrates in 2022 may exceed 10 billion U.S. dollars
The IC package substrate, also known as the IC carrier board, is directly used to mount the chip, which not only provides support, protection, and heat dissipation for the chip, but also provides an electronic connection between the chip and the PCB motherboard. ASIACHEM estimates that the global IC packaging materials market reached US$20 billion in 2018, of which IC packaging substrates accounted for the largest proportion, which was approximately US$7.3 billion. ASIACHEM predicts that the global IC packaging substrate market will grow steadily and will exceed US$10 billion in 2022.
The IC packaging substrate market has been in a stage of steady growth in recent years, and there have been rumors that IC packaging substrates are out of stock in Taiwan's packaging and testing plants. Some IC packaging substrate companies around the world have plans to expand their production. In November 2018, Ibiden stated that it would invest a total of 70 billion yen (approximately RMB 4.2 billion) in Ogaki Central Business Plant and Ogaki Business Plant from 2019 to 2021. To set up new production lines and update equipment, so that the company's IC packaging substrate will increase its annual production capacity by about 50% in 2021.
Due to the high technical barriers and capital investment of IC packaging substrates, the current global packaging substrate market is basically dominated by PCB companies in Japan, Taiwan, South Korea and other regions. The top ten companies have a market share of more than 80%, and the industry concentration is relatively In terms of higher.
In the past ten years, local PCB companies in mainland China are still in their infancy and early growth stages, and most of them are engaged in the production of low-end PCB products and do not have the conditions to enter the IC packaging substrate industry. At present, only a few leading PCB companies in mainland China have begun to develop and mass-produce IC packaging substrates.
- The capacity of the Chinese market does not match the output of local companies, and the potential for localization of IC packaging substrates is huge
At present, the production capacity and market share of IC packaging substrates of local Chinese companies are relatively low. The global production capacity is mainly in the hands of major manufacturers in Taiwan, Japan, South Korea and other places.
Public data shows that in 2017, the total production capacity of IC packaging substrates in the Chinese market reached 1.14 million square meters, with a total turnover of about 3.2 billion yuan, of which the three major domestic enterprises in mainland China totaled more than 1 billion yuan, accounting for 30-40%. It is expected to increase to 1.94 million square meters by 2025, with a CAGR of 5.9%. At present, the mainstream products produced in China are FC CSP, FC BGA and WB BGA/CSP. It is expected that FC CSP will maintain rapid growth in the next few years.
