湿电子化学品行业深度报告：湿电子化学品渐入佳境——AI赋能化工之三

Investment Rating - The report gives a "Recommended" rating for the wet electronic chemicals industry, marking its first coverage [1]. Core Insights - The wet electronic chemicals industry is experiencing rapid growth, with demand expected to rise from 2.67 million tons in 2022 to 4.89 million tons by 2025, translating to a market size increase from 27.2 billion yuan to 49.8 billion yuan, reflecting an average annual growth rate of 22.39% [7]. - There is significant potential for domestic production, as the localization rate of wet electronic chemicals in China's integrated circuit sector was only 35% in 2021, indicating a large space for domestic companies to capture market share [8]. - The report highlights key beneficiaries in the industry, including Jianghua Micro, Glinda, and Crystal Ray, which are positioned to benefit from the growth in the domestic market and the acceleration of the semiconductor industry's localization process [9]. Summary by Sections Industry Growth - The wet electronic chemicals sector is crucial for microelectronics and optoelectronics, with applications in integrated circuits, display panels, and solar photovoltaics. The demand is projected to grow significantly due to the increasing domestic production of integrated circuits and display panels [7][43]. Domestic Production Potential - The report emphasizes the large space for domestic companies to increase their market share in high-end wet electronic chemicals, which are currently dominated by foreign manufacturers [8]. Key Companies and Profit Forecasts - The report identifies several key companies in the wet electronic chemicals sector, including Jianghua Micro, Glinda, and Crystal Ray, which are expected to see growth in their production capacities and market presence [9][13].