PCB manufacturers are speeding up to break through, and semiconductor test boards have entered the game

As we all know, PCB, as an indispensable key interconnection component in electronic products, is called the "mother of electronic products". At present, global PCB manufacturing companies are mainly distributed in China, Taiwan, Japan, South Korea, Southeast Asia, the United States, and Europe. Among them, China has developed into the most important production base for the global PCB industry.

It is worth noting that despite a large number of PCB companies in my country, the homogeneity of products is relatively serious. "Big but not strong" is the current status of the domestic PCB field. Affected by the development trend of the downstream electronics industry, domestic products are over-concentrated on low-end PCBs with cost advantages, and the proportion of high-end PCBs is still low, especially in packaging substrates, high-end HDI boards, and multilayer boards.

How to avoid low-price grab orders?

Jiwei learned that due to the imperfect domestic PCB peripherals, there are still cases of dependence on imports in PCB dedicated key materials, high-end equipment, and engineering software. Therefore, the products of domestic PCB companies are mainly concentrated in traditional single-sided/double-layer products. In terms of high-tech, high-value-added HDI boards, multi-layer boards, packaging substrates, and other products, although domestic manufacturers have made breakthroughs, the overall market supply is still based on Japanese and Korean manufacturers. leading.

At present, there are thousands of PCB manufacturers in the world, and the number of domestic manufacturers is also very large. Although some small and medium-sized enterprises with backward technology and production capacity are gradually eliminated after the environmental storm, the market competition in the PCB industry is still fierce.

According to incomplete statistics from Jiwei, there are currently 28 PCB companies listed on the A-share market, including Pengding Holdings, Dongshan Precision, Shennan Circuit, Shanghai Electronics, Jingwang Electronics, Shenghong Technology, Ultrasonic Electronics, Suntak Technology, Xingsen Technology, Shengyi Electronics, Aoshikang, Bomin Electronics, Hongxin Electronics, Shiyun Circuits, Eaton Electronics, Zhongjing Electronics, Guangdong Junya, Kexiang Co., Ltd., Mingyang Circuits, Chaohua Technology, Zhongfu Circuits, Aohong Electronics, Sihui Fushi, Concord Electronics, Jinbaize, Tianjin Purin, Xunjiexing, Benchuan Intelligent.

In recent years, dozens of PCB companies, including Guanghe Technology, Weirgao Electronics, Techuang Electronics, Mankun Technology, Hetong Technology, Juncheng Technology, and Baicheng Technology, have also embarked on the journey of listing. It is expected that the future will be in A PCB companies listed on the stock exchange will continue to grow.

At present, the main business strategy of domestic PCB manufacturers in market competition is to grab orders at low prices. However, as a large number of domestic PCB companies expand production through fund-raising in recent years, market capacity will continue to expand and competition will become increasingly fierce.

How to get rid of the dilemma of grabbing orders at low prices is a business problem faced by many manufacturers in mainland China and Taiwan. Breaking into the high-end PCB field with higher technical thresholds and greater capital investment is the answer given by more leading PCB manufacturers.

It is understood that dozens of domestic PCB manufacturers, including Ultrasonic Electronics, Founder Technology, Jingwang Electronics, Zhongjing Electronics, Suntak Technology, Bomin Electronics, Wuzhu Technology, Zhiboxin, Shenghong Technology, and Dongshan Precision, are currently increasing In the HDI field, some companies have achieved double breakthroughs in technology and market.

At the same time, manufacturers including Shennan Circuits, Xingsen Technology, Danbang Technology, Anjieli, Suntak Technology, Jingwang Electronics, Zhongjing Electronics, Shenghong Technology, and Dongshan Precision have successively entered the field of packaging substrates. According to China's Taiwan PCB equipment supplier Mu De, it is expected that 19 land-funded customers plan to expand the production capacity of packaging substrates within two years.

Although the current market demand for HDI and packaging substrates is relatively strong, as a large number of companies enter the market, subsequent production capacity will increase significantly. At this time, when entering the field, it will become passive when the production capacity is opened.

IC test board becomes "Xiang饽饽"

Under this circumstance, the semiconductor test board has become a Taiwanese PCB manufacturer such as Baicheng, Bozhi, Hi-Tech, Jinxiang Electronics, Xingpu Technology, and Xingsen Technology, Shanghai Electronics Co., Ltd., Sihui Fortune, Guangdong Junya, and another mainland China The common choice for PCB manufacturers to breakthrough.

It is understood that the semiconductor test board is an important test consumable after the chip is packaged. It is mainly used in the yield test stage. By testing whether the function, speed, reliability, power consumption and other attributes of the chip are normal, the chips with incomplete functions can be eliminated. The waste of the cost of the latter process prevents the end product from being scrapped due to defective IC.

Insiders pointed out that the semiconductor test board is a niche market. Although the overall demand is small, the unit price of the product is high, and the technical difficulty is also high. It needs to reach the level of 40-60 laminates.

At present, the global semiconductor test board market including probe cards, load boards, and burn-in boards is about 20 billion yuan. According to data from VLSI Research, in 2020 The global probe card market size is 2.126 billion U.S. dollars (approximately 13.568 billion yuan). Based on this calculation, the global load board and aging board market size is about 6.432 billion yuan.

Xingsen Technology has also stated that the semiconductor test board is difficult to process due to its high-level number, high aspect ratio and small hole spacing. At the same time, it requires technical and sales teams to have strong professional knowledge in the field of semiconductor testing. Therefore, high-end semiconductor test boards There are only a few companies in the world that can produce and sell, mainly in the United States, Japan, and South Korea. Domestic companies rarely get involved.

Industry insiders pointed out that world-renowned suppliers in the field of semiconductor test boards include European and American manufacturers R&D Altanova (Advand announced the acquisition of the company in November), Harbor (acquired by Xingsen Technology from Xcerra in 2015), Gorilla Circuits, Synergie CAD, etc. South Korean manufacturer TSE, Taiwanese manufacturer Zhonghua Jingce, Yongzhi Technology (KSMT), etc., Hong Kong-owned enterprise CORAD and other Japanese manufacturers such as MJC and Japan Electronic Materials.

Domestic PCB manufacturers have entered the game

For a long time, the global high-end chip market has been firmly controlled by foreign manufacturers, driving the vigorous development of the local semiconductor test industry, and further enabling test consumable manufacturers in Europe, America, Japan, South Korea and other places to occupy a favorable market position. With the step-by-step breakthrough of high-end chips, the related supply chain will also achieve better growth.

Under such circumstances, Xingsen Technology has been involved in the semiconductor test board business since 2013. In 2015, it acquired Harbor of the United States and established Shanghai Zefeng. In 2020, the company's test board business will achieve 500 million yuan in revenue. Sen started the expansion of semiconductor test board production last year. Currently, the construction of the production line has been completed and the production capacity has not yet been released. The goal is to build the largest professional test board factory in China.

On February 1, 2021, Hudian also announced plans to invest in a new R&D and manufacturing project for high-level high-density interconnection laminates used in semiconductor chip testing and next-generation high-frequency high-speed communications. The total project investment is about 1.98 billion yuan. The RMB will be implemented in phases, and the total construction period of the project is planned to be 4 years. After the project is fully completed and put into production, the estimated annual operating income will be approximately RMB 2.48 billion, of which the operating income of products used in the field of semiconductor chip testing is approximately RMB 500 million.

In May 2021, Sihui Fortune announced on the official microblog that the company's first 48-layer high-density, high-multilayer, high-difficulty, high-tech PCB used in chip testing machines has been developed and has undergone multiple tests to meet customer requirements. Meet the shipping standards.

Guangdong Junya also disclosed in the interim report that in order to better grasp the industry development opportunities and quickly respond to changes in market demand, the company will continue to increase the testing of high-layer circuit boards, high-frequency/high-speed boards, arbitrary interconnection RFPC/HDI, and IC. Investment and layout of products such as boards, optoelectronic module boards, and camera module boards.

At present, at a time when the domestic semiconductor industry is booming, domestic PCB manufacturers are vigorously increasing their semiconductor test board business. On the one hand, they have the opportunity to break out of the low-end PCB Red Sea market, and on the other hand, they have the opportunity to grow together with the domestic semiconductor industry. , To achieve a double breakthrough in technology and performance.

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