According to media reports on the 14th, a fire broke out in the copper foil substrate (CCL) plant Lianmao's Xinpu plant in Taiwan in the early morning. The police station received a report at 23:57 yesterday and went to the rescue. Fortunately, there were no casualties. Lianmao CEO Cai Xinjing It was pointed out that the current Xinpu plant has cut off power and ceased operations. The fire production capacity is estimated to reach 300,000 to 400,000 sheets per month, which corresponds to about 10% of the overall production capacity of Lianmao Group.
Earlier news reported that copper foil substrate (CCL) plants were blowing up price increases, including the three major CCL plants in Taiwan, including the CCL division of Nanya, Lianmao, and Taiyao, all of which have successively issued price increases to customers, starting in April Raise the price by 15% to 20% to reflect the market mechanism and the rising cost of raw materials such as copper prices.
Copper Clad Laminate (CCL), the full name of Copper Clad Laminate, is the core material for making printed circuit boards (PCB), responsible for the conductive, insulating and supporting functions of the printed circuit board.
From the point of view of the manufacturing method, the copper clad laminate is a plate-like material formed by impregnating the reinforcing material with resin glue, then covering one or both sides with copper foil, and then hot pressing. Among them, the bonding sheet (also called prepreg, PP) is the previous product before the copper clad, which determines the overall performance of the copper clad laminate to a large extent.
The sales of copper clad laminates have been increasing year by year since 2013. In 2019, when the economic environment is sluggish, sales growth of 10.04% and industry profits of 6.613 billion yuan were still achieved. In 2019, China's copper clad laminate sales volume was approximately 70 million square meters.
Copper clad laminate is the upstream core material for the manufacture of printed circuit boards (PCB), and printed circuit boards are the carriers of integrated circuits (IC). The copper clad laminate is responsible for the four major functions of the PCB: conduction, insulation, support, and signal transmission, and determines the performance, quality, manufacturing level, manufacturing cost, and long-term reliability of the PCB.
The continuous development of PCB and the update and iteration of terminal electronic products continue to put forward new technical requirements for copper clad laminates. At present, the most used in the PCB field is rigid organic resin copper clad laminates.
The upstream of the copper clad laminate industry is mainly copper foil, epoxy resin and glass fiber cloth, etc., and the downstream is the printed circuit board industry.Terminals are used in many application fields such as computers, communications, consumer electronics, automobiles, defense aviation, semiconductor packaging, and so on.
Previously, due to the shortage of raw materials for copper clad laminates, such as copper foil, epoxy resin, and glass cloth, prices continued to rise. The prices of copper clad laminate suppliers such as Lianmao Electronics, Nanya Electronics, and Changxing Materials increased by 10%-20%.
As the world enters the stage of economic recovery, there is a mismatch between the supply and demand of upstream raw materials. The prices of the three major upstream raw materials of copper clad laminates, copper foil, glass fiber cloth and epoxy resin, continue to rise, and it is difficult to expand the production of major raw materials , The short-term new capacity is limited, and the price increase trend of the three major raw materials is difficult to reverse in the short term.
The industry expects that copper clad laminates will continue to be in short supply for some time in the future, and price increases are expected to continue into the third quarter. The production capacity loss of Lianmao Group has caused a certain impact on the supply of the entire industrial chain, superimposing the current tight supply and demand, and it is expected that the price of CCL is expected to rise further.
The market concentration of copper clad laminates is high. The total market share of the world's top ten manufacturers is about 75%, while the total market share of the world's top ten PCB manufacturers is only 53%. The competitive pattern of copper clad laminates Better than PCB.
In the process of gradual transfer of global copper clad laminate production capacity to mainland China, the concentration of output value has also continued to increase, and the output value of the top 8 companies accounted for as much as 2/3.
The main domestic companies such as Shengyi Technology, Jinan Guoji, and Huazheng New Materials are relatively leading. Among them, Shengyi Technology’s output value has increased to 12% in the global market, ranking second, and is constantly shrinking. The gap of Tao Chemical.
Global top ten rigid CCL industry:
Source: Orient Securities
At present, my country's domestic CCL market is a pattern of multi-party competition between Taiwanese, Hong Kong, US, Japanese and domestic companies , Overseas manufacturers have certain advantages in production technology and product expertise, occupying the high-end CCL market, but since the trade dispute, especially after the ZTE incident, the state has vigorously supported independent research and development of the industry, and CCL opens up domestic alternative market space.
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