电子元件及电子专用材料制造系列：2023年中国PCB专用化学品行业概览

Investment Rating - The report does not explicitly provide an investment rating for the PCB industry or related companies. Core Insights - The PCB industry in China has been growing steadily, with a CAGR of 6.4% from 2011 to 2022, surpassing the global growth rate of 3.6% [3] - The market for PCB specialty chemicals in China has rapidly developed, with a CAGR of 7.5% from 2018 to 2022, and is expected to reach USD 2.114 billion by 2027 [5][17] - The demand for PCB specialty chemicals is driven by the growth of the PCB industry, the expansion of domestic PCB production capacity, and the development of 5G communication technology [17] Summary by Sections PCB Industry Overview - China has become the largest PCB producer globally since 2006, with a total output value of USD 44.6 billion by the end of 2022 [3] - The rapid growth of the PCB industry in China is attributed to the large domestic market, low labor costs, and strong government support for investments [3] PCB Specialty Chemicals - PCB specialty chemicals are defined as chemicals used in the production of PCBs, including processes such as circuit patterning, copper surface treatment, hole metallization, electroplating, and final surface treatment [4] - The market for PCB specialty chemicals is expected to grow, with the hole metallization process being the largest segment [5][17] Market Trends and Drivers - The report highlights that horizontal copper deposition technology is gaining traction over vertical copper deposition, with expected growth rates of 5%-9% in the Chinese market over the next three years [7] - The rapid growth of the AI server market is anticipated to increase the share of the computer PCB segment to 35% [7] - The report notes that domestic companies are gradually increasing their market share in PCB specialty chemicals, particularly in areas with lower technical barriers [9] Industry Chain Analysis - The production of PCB specialty chemicals involves various raw materials, with aluminum sulfate and copper sulfate being significantly influenced by metal prices [11] - The report indicates that domestic manufacturers still lag behind international giants like Amtech in terms of technology and market share [13]