华安证券：芯片集成化发展 推动材料应用新蓝海

Core Viewpoint - The rapid development in aerospace and electronic technology is driving the miniaturization, multifunctionality, and high power density of chip-level and module-level electronic devices. The heat dissipation issue of high-power chips needs urgent solutions, and diamond materials are expected to be widely applied due to their excellent performance. The diamond heat dissipation market is conservatively estimated to reach 9.7 billion by 2032 [1]. Group 1 - The aerospace and electronic technology sectors are advancing rapidly, leading to the miniaturization and multifunctionality of electronic devices, which in turn increases chip power consumption and heat generation [1]. - As the integration and miniaturization of chips progress, the failure rate of semiconductor components significantly increases with rising operating temperatures, with studies indicating that for every 18°C increase in temperature, the failure rate can double or triple [1]. - AI chip heat dissipation technology aims to optimize device performance and extend lifespan by directly removing heat from the chip or processor surface, with traditional solutions categorized into heat dissipation materials and technologies [1]. Group 2 - Electronic packaging materials must possess good thermal conductivity, mechanical properties, and processability to ensure the stable, reliable, and safe operation of electronic devices [2]. - Common electronic packaging materials include ceramic, plastic, metal, and composite materials, with diamond heat sink materials having a thermal conductivity of 2000-2500 W/(m·K), which is four times that of copper and eight times that of aluminum [2]. - The thermal expansion coefficient of diamond closely matches that of semiconductor core materials like silicon and silicon carbide, ensuring interface stability even after thousands of temperature cycles, thus avoiding delamination issues [2]. Group 3 - The MPCVD method is considered the optimal solution for preparing semiconductor diamond materials [3]. - Diamond materials can be classified into single crystal and polycrystalline types, each exhibiting different performance and application characteristics [3]. - Polycrystalline diamond is used in high thermal conductivity, infrared transparency, and wear resistance applications, while single crystal diamond shows unique advantages in high power, high efficiency, and ultra-high frequency electronic devices [3].