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. 

Semiconductor materials are mainly used in wafer manufacturing and chip packaging. The semiconductor industry has four characteristics: large industrial scale, multiple subdivisions, high technical threshold, and low cost ratio:

1) Large scale of industry: According to SEMI(Semiconductor Equipment and Materials Association) data statistics, the market size of the global semiconductor materials industry in 2018 reached 51.9 billion US dollars, corresponding to the global semiconductor industry scale of about 450 billion US dollars in 2018, and the semiconductor materials market size accounted for nearly 11.5%; The market size of manufacturing materials has reached 1.62 times of the market size of sealing and measuring materials.

2) Many subdivided industries: Semiconductor materials are the industry chain links with the most subdivided fields in the semiconductor industry chain, and wafer manufacturing materials include silicon wafers, photoresist, photoresist supporting reagents, wet electronic chemicals, electronic gases, CMP polishing materials, and targets; Chip packaging materials include packaging substrate, lead frame, resin, bonding wire, tin ball, and plating solution, etc. At the same time, similar wet electronic chemicals contain acids, alkalis and other reagents, as many as hundreds of fine molecule industry;

3) High technical threshold: the technical threshold of semiconductor materials is generally higher than that of other electronic and manufacturing related materials, which has high purity requirements and complex processes, and requires batch testing of the downstream corresponding production line in the research and development process. At the same time, the corresponding chip manufacturing process is different, and the downstream manufacturers have different requirements for the use of materials, resulting in the corresponding material parameters are also different;

4) Low cost ratio: Although the overall semiconductor material industry is large, due to the numerous subsectors of subdivided materials, a single subdivided material often accounts for a relatively low proportion of semiconductor production costs. Taking the target as an example, the proportion of the semiconductor target in the semiconductor material is about 3%, and the corresponding semiconductor production cost is only 3‰ to 5‰.

2.1 Raw material of photolithography -- photoresist

Photoresist, also known as photoresist, is a photosensitive mixed liquid composed of photoinitiator (including photosensitizer, photoacid-producing agent), photoresist resin, monomer (active diluent), solvent and other additives. It is a pattern transfer medium, which can transfer the mask pattern to the substrate by using different solubility after light reaction. At present, photoresist is widely used in the processing of micrographic circuits in the optoelectronic information industry, and is one of the key materials in the field of electronic manufacturing.

2.2 CMP polishing material

CMP (chemical mechanical polishing (ChemicalMechanicalPolishing) technology is one of the key process in semiconductor manufacturing process, using the "soft grinding hard" principle of wear, and play with a softer material for polishing to achieve the high quality of surface polishing. Through the comprehensive action of chemical and mechanical, the surface damage caused by simple mechanical polishing and the shortcomings of slow polishing speed, surface flatness and poor polishing consistency easily caused by simple chemical polishing are avoided.

CMP polishing materials mainly include polishing fluid, polishing pad, regulator, cleaner, etc., and their market shares account for 49%, 33%, 9% and 5% respectively. China's CMP polishing material market size in 2016 was 2.3 billion yuan, and the market is expected to reach 2.8 billion yuan in 2018.

At present, the polishing pad in the market is mainly monopolized by Dow Chemical Company, with a market share of about 90%, and other suppliers include Japan's Toray, 3M, Taiwan Tripartite Chemical, Cabot and other companies, with a total share of about 10%. In terms of polishing liquid, the main suppliers include Japan Fujimi, Japan HinomotoKenmazai, the United States Cabot, DuPont, Rodel, Eka, South Korea ACE and other companies, accounting for more than 90% of the global market share, the domestic market is mainly dependent on imports, only some domestic enterprises can produce.

Anji Microelectronics (Shanghai) Co., Ltd. produced copper/copper barrier layer polishing liquid, silica polishing liquid, TSV polishing liquid, silicon polishing liquid, copper polishing liquid and other products have successfully entered the domestic and foreign 8-inch and 12-inch customer chip production lines to use, copper/copper barrier layer polishing liquid products have entered the domestic and foreign leading technology node. Products cover 130nm~28nm technology nodes, product performance has reached the international leading level, and has a cost advantage, breaking the monopoly of foreign manufacturers in the field of high-end integrated circuit manufacturing polishing materials; Shanghai XinANA has made good progress in the development of abrasives for polishing fluid and memory polishing fluid. Copper polishing pad, oxide polishing pad and tungsten polishing pad developed by Hubei Dinglong Holding Co., Ltd. have begun downstream supply; The diamond dressing disc and retaining ring of Ningbo Jiangfeng Electronics have entered the evaluation and verification stage.

2.3 Wet electronic chemicals

Wet electronic chemicals, also known as ultra-clean high-purity reagents, are various electronic chemical materials used in the wet process of microelectronics and photoelectronics. It is mainly used for cleaning and etching of electronic components such as semiconductors, solar silicon wafers, LED and flat panel displays. It is mainly divided into general chemicals and functional chemicals by use, of which general chemicals are mainly high-purity solvents, such as hydrogen oxide, hydrofluoric acid, sulfuric acid, phosphoric acid, hydrochloric acid, nitric acid, etc. Functional chemicals refer to formulations or compound chemicals that achieve special functions and meet special process requirements in manufacturing by means of compounding, mainly including developer, stripping solution, cleaning solution, etching solution, etc.

3 Carbon fiber

Carbon fiber is a kind of fibrous carbon material with more than 90% carbon content. It is composed of organic fibers such as flake graphite microcrystals stacked along the axial direction of the fibers, and obtained by carbonization and graphitization. Carbon fiber has high specific strength, high specific modulus, creep resistance, electrical conductivity, thermal conductivity and other characteristics, strength is larger than steel, density is smaller than aluminum, corrosion resistance than stainless pot, high temperature resistance than heat-resistant steel, and can conduct electricity like copper, set excellent electrical, thermal and mechanical properties in one. World carbon fiber industrialization pattern - developed countries form technological monopoly: the earliest breakthrough in research and development and mass production of carbon fiber originated in Japan in the late 20th century, and then Japan and the United States and other countries have achieved large-scale and stable production.