New materials: The general trend of localization is accelerating, and attention is paid to the leader of independent innovation materials

The global new materials industry is in a stage of rapid development, accelerating growth in scale, and maintaining a compound annual growth rate of more than 10%. In 2018, the global market size of the new materials industry reached about $2.41 trillion, and it is expected to continue to expand in the future. In 2010, the total output value of China's new materials industry was only 0.65 trillion yuan, and by 2018, the total output value of China's new materials industry has increased to 3.8 trillion yuan, an increase of 22.3%, and is expected to break through 7 trillion yuan by 2021.

1 Display industry chain

1.1 OLED organic light-emitting materials

According to prospective Industry Research Institute data, the global OLED overall market size reached $25.5 billion in 2018, is expected to exceed $30 billion in 2019, and reach $50 billion and $58 billion in 2020 and 2025, respectively. OLED materials belong to the upstream link of the OLED industry chain, and with the development of OLED in recent years, it has also shown a rapid growth trend, and the global market size of OLED materials has reached 9.11 billion yuan by 2018.

OLED materials mainly include luminous materials and basic materials, which together account for about 30% of the material cost of OLED screens. Luminous materials are the core components of OLED panels, mainly including red light, green light, blue light and so on. OLED basic materials mainly include electron transport layer ETL, electron injection layer EIL, hole injection layer HIL, hole transport layer HTL, hole barrier layer HBL, electron barrier layer EBL, etc. Among them, organic light-emitting layer materials and transport layer materials are the key materials of OLED. From the perspective of the production process of upstream materials, the material manufacturer first synthesizes chemical raw materials into OLED intermediates, and then further synthesizes them into pre-sublimation materials, which are sold to OLED terminal materials manufacturers, and OLED terminal materials are finally formed after sublimation treatment by OLED terminal manufacturers for the production of OLED panels.

At present, the production of OLED terminal materials is mainly concentrated in the hands of South Korea, Japan, Germany and the United States manufacturers, of which the fluorescence material patents are Idemitsu, Merck, LG, Dow, Toksan, Doosan and other overseas companies, small molecule phosphorescent OLED materials and TADF materials are mainly owned by the United States UDC company. At present, there is still a large gap in the patent of domestic enterprises, mostly in the imitation and low technical content of monomer and intermediate products.

In China's OLED organic material enterprises, Wanrun Shares, Xi 'an Rui Lian, etc., have achieved large-scale mass production and entered the global OLED material supply chain. Wanrun's Jiumu Chemical has taken a leading position in the industry in the research and development and production of OLED materials, mainly engaged in the research of pre-sublimation materials, and is expected to continue to expand its market share after the introduction of war investment. March Optoelectronic is mainly committed to the research and development of sublimated materials, including transport materials and luminous materials, and has made breakthroughs in the optical matching layer (CPL) materials and TADF green light single-body direction, and its performance has reached the level of commercial application.

1.2 PMMA material

Polymethyl methacrylate (PMMA), commonly known as plexiglass, acrylic, etc., is an amorphous plastic made of MMA monomer copolymerized with a small amount of acrylates. It has good transparency, optical properties, weather resistance, drug resistance, impact resistance and aesthetic properties, and is known as the "plastic queen" of advanced materials. Products include molding plastics, extruded plates and cast plates.

From the perspective of global production capacity distribution, the production of PMMA is mostly concentrated in the hands of overseas chemical giants such as Mitsubishi, Sumitomo and Chi Mei, with a combined market share of 60 to 70%, and these overseas companies have the self-sufficiency of raw materials MMA.

2 Semiconductor chemicals industry

From the market point of view, China's semiconductor market size exceeds one trillion, the semiconductor industry has become an important part of the national strategic emerging industry, and more than two-thirds of semiconductor products need to be imported from abroad, the high-end field is almost completely dependent on imports, especially since the Sino-US trade friction in 2018, ZTE, Huawei incident is to ring the alarm bell for China's semiconductor industry.

The semiconductor industry is characterized by technology intensive, capital intensive and production cluster. The semiconductor core industry chain includes IC design, IC manufacturing and IC encapsulation for semiconductor products. At present, it has formed an efficient and stable deep division of labor mode of EDA tools, IP suppliers, IC design, Foundry plant and sealing and testing plant.