“黄金薄膜”破局指南：中国聚酰亚胺(PI)产业的生死突围与投资机遇

Core Insights - Polyimide (PI) is a high-performance polymer material known for its exceptional thermal stability, withstanding temperatures from -269℃ to over 500℃, making it crucial in aerospace, flexible displays, and advanced chips [2][5][19] - The PI industry faces significant challenges due to high-end product monopolization by foreign companies, leading to a "bottleneck" in domestic production capabilities [2][10][21] Group 1: Overview of Polyimide - Polyimide is a polymer characterized by the presence of imide rings, synthesized from diamines and dianhydrides [4] - It is recognized as one of the most promising engineering plastics of the 21st century, with applications across various high-tech industries [5][7] Group 2: Polyimide Industry Chain - The PI industry chain follows a "raw material supply - product manufacturing - application" model, with a notable integration of synthesis and product formation [10][26] - The upstream segment includes core monomers and auxiliary materials, with a reliance on imports for high-end monomers [14][15] - The midstream focuses on the manufacturing of various PI products, with significant technical barriers and a concentration of production among a few global leaders [17][18] - The downstream applications span electronics, aerospace, and military sectors, driven by the demand for high-performance materials [23][24] Group 3: Market Supply and Demand - Global PI production capacity increased from approximately 90,000 tons in 2020 to an estimated 110,000 tons by the end of 2023, with a compound annual growth rate (CAGR) of 6.9% [28][30] - The market for PI materials is projected to reach 104.4 billion yuan by 2030, with a CAGR of 6.98% from 2023 to 2030 [37] - In China, the PI production capacity is expected to grow significantly, with a focus on high-end applications, although the country still relies heavily on imports for advanced PI products [42][46] Group 4: Technological Aspects - The production of PI involves complex chemical reactions and requires a deep understanding of polymerization mechanisms and process control [55][57] - Various synthesis methods for PI resins include one-step, two-step, and three-step processes, each with distinct technical requirements [58]