势银观察 | 2025到2030，半导体TGV技术将加速渗透中国市场

Core Viewpoint - The semiconductor TGV technology is gaining attention in the industry, but large-scale application in China is not expected until the end of 2025, as the industry awaits a technological breakthrough to unlock its potential [2][6]. Group 1: Current Applications and Market Potential - The largest current application for semiconductor TGV technology is in micro-nano processing devices, accounting for 73% of the market, primarily in various physical quantity sensors such as pressure and inertial sensors [4]. - RF devices are the first to be industrialized within the potential scenarios of TGV technology, but their market contribution is limited. Future growth will be driven by advanced packaging applications like CPO and storage-computing chips [5]. - By 2030, if breakthroughs in glass core packaging substrates occur, it will significantly enhance the integration technology routes for CPO and storage-computing chips [5]. Group 2: Challenges and Competitive Landscape - TGV technology shows strategic potential in the Mini LED/Micro LED display sector, but market penetration remains uncertain. The main focus for TGV in MLED applications is on glass-based MiP packaging and glass-based PCB backplanes [5]. - MLED products are accelerating their development of TFT glass substrates and MLED modules, influenced by the traditional LCD/OLED supply chain, which poses a significant challenge to TGV technology in the MLED space [5]. Group 3: Future Outlook - The large-scale industrialization of TGV technology is not expected until 2025, but this period marks the initial emergence of potential application scenarios. Domestic TGV technology projects are primarily focused on panel-level types, projected to account for 70% by 2025 [6]. - As product yield improves and substrate sizes increase, the market share for TGV technology is expected to expand to 80% by 2030, although wafer-level TGV technology will maintain a stable market in specific microelectronic device integration areas due to existing production line equipment and processes [6].