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2024年HBM所用EMC和填料市场空间测算
2024年HBM所用EMC和填料市场空间测算
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所属报告:
电子行业专题研究报告:先进封装发展充要条件已具关键材料国产替代在即-240126(38页).pdf
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fCDlraPluqYgICAgICAgfCBTQU1TVU5HIHwgU0sgaHluaXggfG1pY3JvbiB8IE5BTllBIHwgT3RoZXJzIHwKfC0tLS0tLS0tLS0tLXwtLS0tLS0tLS18LS0tLS0tLS0tLXwtLS0tLS0tLXwtLS0tLS0tfC0tLS0tLS0tfAp8IFEzIDIwMjQgICAgfCA0MCUgICAgIHwgMzMlICAgICAgfCAyMSUgICAgfCAzJSAgICB8IDMlICAgICB8CnwgUTQgMjAyNCAgICB8IDM4JSAgICAgfCAzNSUgICAgICB8IDIyJSAgICB8IDQlICAgIHwgMSUgICAgIHwKfCBRMSAyMDI1ICAgIHwgMzQlICAgICB8IDM2JSAgICAgIHwgMjUlICAgIHwgNSUgICAgfCAwJSAgICAgfAp8IFEyIDIwMjUgICAgfCAzMiUgICAgIHwgMzglICAgICAgfCAyMyUgICAgfCA1JSAgICB8IDIlICAgICB8CnwgUTMgMjAyNSAgICB8IDMzJSAgICAgfCAzNCUgICAgICB8IDI2JSAgICB8IDUlICAgIHwgMiUgICAgIHwKCui1hOaWmeadpea6kO+8mkNvdW50ZXJwb2ludCBSZXNlYXJjaO+8jOS4nOWMl+ivgeWIuA==
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台积电全球晶圆代工收入市占率节节高升;三星2025Q4因2nm新品出货贡献营收,且自家HBM4使用的logicdie晶圆开始产出,淡化整体产能利用率略降的不利因素
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2026-04-13
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其中,由于 HBM 属于较为细分领域,未有公开数据给出针对 HBM 的相关成本数据,我们参考整体的封装市场数据,分别借鉴华海诚科和甬矽电子招股说明书披露数据计算得到的“填料采购额/EMC 收入”比例、“EMC 采购额/封装收入”比例,再参考中国半导体行业协会、美国半导体行业协会披露的中国封测市场和中国半导体销售市场的数值计算出“封装市场价值/半导体市场价值”比例,则最终计算出“EMC 市场价值/半导体市场价值”和“填料市场价值/半导体市场价值”比例分别为 0.3%和 0.04%,由于 HBM 中对 EMC 和填料的要求较高、价值量相对普通产品更高,因此我们假设 HBM 中“EMC 市场价值/半导体市场价值”和“填料市场价值/半导体市场价值”比例提升 10 倍和 30 倍至 3%和 1.2%%,则根据集邦咨询预估 2024 年全球 HBM 市场价值为 89 亿美金,计算可得 2024 年 HBM所用 EMC价值空间为 2.6 亿美元、所用填料价值空间为 1.1 亿美金,作为材料单品而言是相对较大、利润较丰厚的市场。
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电子行业专题研究报告:先进封装发展充要条件已具关键材料国产替代在即-240126(38页).pdf
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