Chan Ye Xin Xi Wang·2025-07-31 01:32Core Viewpoint - Silver alloy target materials are crucial conductive materials in semiconductor integrated circuits, with increasing demand driven by the growth of high-end electronic products and advancements in semiconductor technology [1][5][18]. Group 1: Market Overview - The market size for silver-based alloy targets in China is projected to reach approximately 135 million yuan in 2024, with a total consumption of 22.38 tons, and is expected to grow to 160 million yuan and 26.89 tons in 2025 [1][5][7]. - The G6.0 generation line is the primary consumer of silver alloy targets, utilizing 19.22 tons in 2024, which is expected to increase to about 23.56 tons in 2025 [7][18]. Group 2: Industry Chain - The upstream of the silver alloy target industry includes high-purity silver and alloy materials, involving silver mining and high-purity metal refining [9]. - The midstream consists of the manufacturing of silver alloy targets, which are widely used in high-end manufacturing sectors such as semiconductors, OLED displays, and energy industries [9][11]. Group 3: Production Process - The manufacturing process of silver alloy targets involves raw material purification, alloy melting, casting, forging, rolling, heat treatment, and machining, with impurity content and microstructure being critical factors affecting target quality [11][18]. Group 4: Competitive Landscape - The silver alloy target market is dominated by foreign companies, with Japan's Mitsubishi holding over 50% of the market share in 2024, followed by South Korea's LT at 34.95% and Germany's Materion at 6.8% [13][15]. - Domestic companies such as Fujian Astone and Shenzhen Top New Materials are in the early stages of research and development, focusing on alloying and preparation process control [15][18]. Group 5: Patent Technology - Various companies are developing innovative technologies for silver alloy targets, including methods to enhance mechanical properties and corrosion resistance through specific alloying elements [17]. Group 6: Industry Development Trends - The silver alloy target industry is characterized by high technical barriers and significant potential for domestic substitution, as China gradually advances in research and innovation in this field [18][20].