Zhitong Financial APP learned that Oriental Wealth released a research report that with the vigorous development of downstream consumer electronics, data center, automotive electronics and other industries, according to Gartner statistics, the global semiconductor market reached 595 billion US dollars in 2021, a year-on-year increase of 26.3%, a record high. Benefit from the strong demand from downstream consumer electronics, data center, automotive electronics, Internet of things and other marketsThe semiconductor market is expected to grow by 13.6% in 2022 compared with the same period last year.Reached 676 billion US dollars.Suggested attention: Shanghai Silicon Industry (688126.SH), Lion Micro (605358.SH), Divine Industry shares (688233.SH), Central shares (002129.SZ).
According to the report, as the upstream of the semiconductor market, the overall scale of semiconductor materials continues to grow. According to SEMI data, the global semiconductor materials market reached a record high of US $64.3 billion in 2021, an increase of 15.9% over the same period last year. As the core of semiconductor materials, silicon wafers account for more than 30% of semiconductor materials. 2022Q1 global semiconductor wafer shipping area reached 3.679 billion square inches, a slight increase of 0.93% compared with 2021Q4 and a year-on-year increase of 10.25%. 2022Q1 shipping area surpassed 2021Q3 to reach an all-time high.
According to the prediction of SUMCO, the demand for 12-inch semiconductor wafers will be greater than the supply. Recently, leading manufacturers around the world have put forward production expansion plans, and the production capacity of leading manufacturers is expected to be released in 2023-2024. The expansion of mainland wafer manufacturers is also accelerating. According to ICinsights, China's wafer production capacity in 2018 was 2.43 million per month (equivalent to 8 inches), accounting for 12.5 per cent of global production capacity. Chinese mainland production capacity is expected to reach 4.1 million per month in 2022, accounting for 17.15 per cent of global production capacity. CAGR was 22.93 per cent in 2018-2022.
The bank believes that, on the one hand, it is difficult to significantly alleviate the shortage of global silicon wafer production capacity in the short term, and the technological upgrading of domestic silicon wafer manufacturers and the continuous expansion of production capacity are bound to effectively increase the market share of domestic silicon wafers. In addition, taking into account policy support, customer relationship maintenance, supporting services and other factors, the accelerated development of the semiconductor industry chain in the mainland will also effectively increase the share of domestic wafer manufacturers.
Risk Tips:Downstream demand is not as expected: the progress and yield of new product development is not as expected; the progress of production expansion is not as expected.