As my country increases the development of the semiconductor industry, the new production capacity of major wafers will be released one after another, and the relevant national industrial policies and financial support will be put in place one after another, and the demand for electronic special gas will continue to rise. According to the forecast of the Prospective Industry Research Institute, my country's electronic specialty gas market will reach 23 billion yuan in 2024, accounting for nearly 60% of the global market.

 

The blood of the electronics industry, the domestic market scale continues to grow rapidly

 

Electronic special gas is called the blood of modern electronic industry, mainly used in semiconductor, liquid crystal display, crystalline silicon solar cell, optical fiber and other fields. According to Linx Consulting data, the semiconductor market needs about 70% of the electronic special gas, and the demand for liquid crystal display and crystalline silicon solar cells accounts for 20% and 4% respectively. Among them, there are more than 100 types of electronic special gases required in semiconductors, and are widely used in all aspects of their production processes. According to SEMI data, the global wafer manufacturing materials market size in 2019 is about 32.8 billion US dollars, of which the electronic special gas scale is about 4.3 billion US dollars, accounting for 13%. The scale reached nearly 4.6 billion US dollars.

 

 

 

China is one of the world's major electronic specialty gas markets. The market size in 2020 will be 15 billion yuan, accounting for about 48% of the global market. Compared with 2011, the proportion has doubled. The market size of China in 2011-2020 will be far higher than global figures. Different from the global market, my country has advantages in technology and scale in the fields of display panels and photovoltaics, so the use of electronic special gases is relatively large, and the two together account for about 50%; while the development of the semiconductor market is relatively lagging, and the application of electronic special gases accounts for 50%. than about 42%.

 

 

 

As my country increases the development of the semiconductor industry, the new production capacity of major wafers will be released one after another, and the demand for electronic special gas will continue to rise. The demand for emerging industries such as superimposed display panels and photovoltaic energy will increase, which will drive the domestic electronic special gas market steadily. promote. According to the forecast of the Prospective Industry Research Institute, my country's electronic special gas market will reach 23 billion yuan in 2024, accounting for nearly 60%.

 

 

 

 

 

Policies and funds are gradually put in place, and the localization of electronic special gases is accelerated

 

Due to the many barriers of electronic specialty gas, its industry concentration is relatively high. At present, the major manufacturers of electronic special gases in the world include French Air Liquide, American Air Products, Linde Praxair, Japan Showa Denko, Korea Daesung Industrial Gas, Korea SK, Japan Sumitomo, China Taiwan Lianhua Industrial, etc. In 2018, the CR4 of the global electronic special gas market reached 94%, and leading companies such as Linde, Air Liquide, and Air Chemicals are the main suppliers. In the domestic market, foreign investment accounts for 85%.

 

 

 

The high import dependence makes electronic special gas an important bottleneck in the development of science and technology and new energy in my country, and the supply security of electronic special gas needs to be solved urgently. Since 2009, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology and other departments have successively issued a number of industry-related policies, clarifying the industrial attributes of new materials for special gases, and effectively promoting the rapid development of the industry.

 

On the other hand, the second phase of the large fund raising more than 200 billion yuan focuses on equipment and materials, mainly investing in the field of semiconductor equipment and materials with obvious shortcomings, and focusing on improving the key industrial chain of the semiconductor industry. As the second largest consumable material in the semiconductor industry, electronic special gas is expected to accelerate its development with the support of the National Fund.

 

In the future, with the gradual release of the production capacity of domestic semiconductor manufacturers and the superposition of relevant national industrial policies and financial support, the competitive advantages of domestic electronic special gas manufacturers will become prominent, and they will continue to break through the monopoly of foreign technology. The localization of special gases is an inevitable trend of future industry development. At present, my country has achieved technological breakthroughs in many varieties, among which nitrogen trifluoride, ultra-pure ammonia, germane, etc., are the sub-industries with the fastest progress in the replacement of supporting semiconductor materials made in China.

 

The entry of domestic enterprises has increased, mainly for three types of companies

 

With the maturity of domestic technology, some electronic special gases have been gradually localized, and the number of domestic enterprises has increased. They are mainly divided into three categories: the first is gas companies represented by Huat Gas and Jinhong Gas, whose main business is Industrial gases are the main products of this type of company, with a wide variety of products and high purity; the second is a semiconductor material platform company represented by Jacques Technology and Nanda Optoelectronics, with a multi-dimensional layout. The proportion of the two companies' electronic special gas sector is 16%. %, 72%, Jacques Technology is a leading domestic fluorine-containing gas company, and Nanda Optoelectronics covers fluorine-containing and hydrogen-containing types. This type of company focuses on a small number of electronic special gases and has a wide range of sales channels. The third is a comprehensive company represented by Haohua Technology, which covers many fields and has strong comprehensive strength.

 

 

 

Huat Gas is the leader in the localization of special gases. At present, the company produces and sells more than 230 kinds of special gases and more than 10 kinds of ordinary gases. It is the company with the largest variety of products in the same industry. Among them, the company's four mixed lithography gas products, Ar/F/Ne, Kr/Ne, Ar/Ne, Kr/F/Ne, passed the ASML certification, the world's largest lithography machine supplier, in 2017, and is the only one in my country that has been certified The gas company is also one of the four global companies that have passed the certification of all the above four products of ASML. With the continuous improvement of product quality and the gradual deepening of market development, the company's products have been widely recognized by leading customers in downstream related industries and have been supplied in batches. At present, the company has successfully achieved a customer coverage rate of more than 80% for domestic manufacturers of integrated circuits above 8 inches.

 

Debon Securities believes that with the gradual release of the production capacity of the 450 million yuan fundraising projects, the company's product types will be further expanded, and it is expected to rapidly increase its market share, thereby continuously enhancing its profitability.

 

Jinhong Gas is an important supplier of special gases and bulk gases in China. It is the first to break the technological monopoly of ultra-pure ammonia in China, and its current domestic market share exceeds 50%. In addition, the new products being developed by the company, such as 9N electronic grade ethyl orthosilicate, 5N electronic grade hydrogen bromide, etc., have reached the domestic and even international leading level. With strong technical strength, excellent

 

Product quality and other advantages, the company has been widely recognized by many well-known customers in emerging industries. At present, ultra-pure ammonia has been officially supplied to Shanghai Jita, and nitrous oxide/ammonia gas has passed the tests of SMIC/Wuxi Hynix respectively, and has cooperated with TSMC and YMTC. , Hefei Changxin actively communicates special gas supply. Tianfeng Securities believes that with the rapid development of the domestic electronic semiconductor industry, there is huge room for localization of key raw materials, the company's electronic specialty gas is expected to usher in rapid development, and the proportion of revenue will continue to increase.

 

Kaimet Gas is an industrial gas company that uses petrochemical tail gas as raw material. In recent years, the construction of special gas field has continued to accelerate. At present, the company's electronic special gas project (phase I) has been put into production at the end of 2020. The core products are high-purity rare gases (krypton, xenon, carbon dioxide, etc.) and fluorine-based mixed gases, which are mainly used in lasers, semiconductors and other fields. At the end of 2020, the company signed an exclusive agency agreement with Nanda Optoelectronics, covering semiconductor factories in mainland China. From March to May 2021, the company has successively signed krypton gas sales contracts with a number of electronic special gas agents, with a total amount of 9.52 million yuan, and the electronic special gas business has begun to gradually increase volume.

 

Zheshang Securities estimates that the company is expected to achieve sales revenue of 30 million yuan throughout the year. The main product is krypton gas, with a gross profit margin of 80%-90%. In the future, as the company's customer certification is basically completed in 2023, and the first phase of the project runs in two shifts (24 hours), the revenue of electronic special gas is expected to reach 250 million yuan, a year-on-year increase of 117%, and the gross profit margin is about 80%.

 

The author of this article: Yicai Investment Research is organized and released by Semiconductor Today. Please indicate the source for reprinting, otherwise it will be regarded as infringement!