半导体设备系列研究之二十八：玻璃基板从零到一，TGV为关键工艺

Industry Investment Rating - The industry is rated as Buy [2] Core Viewpoints - Glass Substrate Advantages: Glass substrates offer lower cost, lower dielectric constant, shorter interconnect lengths, higher transmission rates, and higher bandwidth density compared to traditional silicon and organic materials, effectively reducing energy consumption [2] - Intel's Commitment: Intel has been investing in glass substrate technology for years, with plans to start mass production by 2030, using 75μm glass vias with a 20:1 aspect ratio [9] - TGV as Key Process: Through Glass Via (TGV) technology is crucial for glass substrate applications in advanced packaging, enabling stable and efficient connections while reducing production costs [2] - Potential for 2.5D/3D Packaging: Glass substrates could revolutionize 2.5D/3D packaging by replacing silicon and organic interposers, offering better electrical performance and lower costs [2] Glass Substrate and TGV Technology - Glass Substrate Applications: Glass substrates are being used to replace silicon and organic interposers in 2.5D/3D packaging, with applications in panels, ICs, and other semiconductor fields [12] - TGV Challenges: TGV technology faces challenges in high-precision via formation and high-quality metal filling, with laser-induced etching emerging as a promising method for large-scale production [35][48] - Metal Filling Techniques: Different TGV via shapes (blind, vertical, X-shaped, V-shaped) require specific filling techniques such as Bottom-up, Butterfly Model, and Conformal filling [53][54][58] Key Companies in the Glass Substrate Industry - Intel: Leading the development of glass substrate technology, with plans for mass production by 2030 and partnerships with glass manufacturers like LPKF and Schott [9] - Dier Laser: A leading provider of laser processing solutions for solar cells, now offering TGV laser micro-hole equipment for glass substrate processing [2] - Delong Laser: Focused on advanced packaging applications, developing TGV and other laser fine micro-processing equipment since 2021 [2] - Absolics (SK Group): Received $75 million in funding from the US government to develop glass substrate technology for advanced semiconductor packaging [27] - Samsung and LG: Both companies are investing in glass substrate R&D, with Samsung aiming for prototype production by 2025 and LG targeting leadership in semiconductor substrates [28][31] Market Trends and Future Outlook - Advanced Packaging Market Growth: The global advanced packaging market is expected to grow from $34 billion in 2021 to $62 billion by 2027, with 2.5D/3D packaging growing at an 18% CAGR [24] - AI and High-Performance Computing Demand: The increasing demand for AI and high-performance computing is driving the need for glass substrates, which offer better performance and lower power consumption [26][27] - Emerging Applications: Glass substrates are being explored for applications in MEMS, RF packaging, 3D integrated passive components, and integrated antennas, with potential for significant performance improvements [25][26]