PCB industry chain analysis

- Jun 07, 2017-

A printed circuit board (PCB) is a substrate used to assemble electronic components. It is a printed circuit board that connects and printed components on a common base material according to a predetermined design. The main function of this product is to make all kinds of electronic components form the connection of the predetermined circuit, and play the role of relay and transmission. It is the key electronic component of the electronic product. The manufacturing quality of printed circuit boards not only directly affects the reliability of electronic products, but also affects the overall competitiveness of the system products. Therefore, printed circuit boards are called the mother of electronic system products". The development level of PCB industry can reflect the development speed and technical level of an electronic industry in a country or a region to a certain extent.

Glass fiber yarn: glass fiber yarn by silica sand and other raw materials in the kiln calcined into liquid, pulled into a very fine glass fiber through the tiny alloy nozzle, then the root tangle into hundreds of glass fiber glass fiber yarn. Kiln construction investment is huge, as a capital intensive industry, the furnace needs 30 thousand tons of 400 million yuan, the new kiln needs 18 months, the business cycle is difficult to grasp, and once the ignition must be 24 hours of uninterrupted production, and in five years or so, must be shut down for half a year out of the huge cost of maintenance, enter.

Glass fiber cloth: glass fiber cloth is one of the raw materials of copper clad laminate, which is made of fiberglass yarn, covering about 40% of the cost of copper clad laminate (25%) and (sheet). The production of glass fiber cloth is similar to that of weaving enterprises. It can control the capacity and quality by controlling the speed of rotation, and the specifications are relatively single and stable. There has been little change in specifications since the second world war. Unlike CCL, the price of fiberglass fabrics is most affected by supply and demand, and prices have fluctuated between $0.50~1.00 / m. In recent years. At present, Taiwan and Mainland China account for about 70% of the world's production capacity. The relationship between the upstream and downstream operating key, a loom for the price of 10~15 million, is generally more than 100 to normal production, but subsequent heat treatment and chemical treatment equipment funding requirements higher, up to ten million, weaving capacity expansion easier, more flexible.

Copper foil: copper foil is the largest proportion of the cost of copper clad material, about 30% of the cost of copper clad laminate (plate) and more than 50% (sheet). Therefore, copper foil price increases are the main driving force of copper price increase. Copper foil is widely used, not only in the copper clad laminate industry, when the copper clad laminate industry is stagnant, copper foil manufacturers can change the copper foil for other purposes. The price of copper foil is closely reflected in the price change of copper. As copper prices rise steadily, copper foil manufacturers shift the cost pressure to the downstream. High technical barriers to copper industry leads to a shortage of domestic supply of high-grade copper, still need to import large quantities of investment cost is also great.

CCl (CCL): is the electronic grade glass fiber cloth as the substrate, impregnated with epoxy resin, after drying treatment, adhesive sheet made of semi solidified state, and then in the single-sided, double-sided or multilayer board with a thin copper foil board, hot pressing special technological conditions is made of raw materials, direct PCB. The demand for copper clad copper industry is relatively large, and the size of the factory is about 50 million yuan. The concentration ratio is relatively high, and there are about 100 in the whole country. CCL industry is cyclical cost driven industry, upstream and downstream industry chain structure, the bargaining power of CCL to PCB is strong, as long as the downstream demand, will be the rising cost pressure on the downstream PCB manufacturers, but only very large scale CCL can have a strong voice in the glass fiber cloth, copper and other raw materials purchasing. Because of the single use of copper clad products, they can only be sold to printed circuit boards. When PCB is depressed, they can only lower prices to ensure the utilization of production capacity.

PCB: relative to the downstream industry, printed circuit board industry characteristics determine the industrial concentration is not high; in the fierce competition in the market environment, it is only the long-term competitiveness of market positioning and operation efficiency of enterprises, a common PCB production line needs 2 more than ten million yuan, the multilayer board need to invest 50 million, HDI investment more than 200 million yuan. As the industry is huge, the division of labor is very thin, specializing in drilling and other single station process outsourcing, low-end products oversupply. HDI and other high-end printed circuit board industry belongs to the capital and labor intensive industries, and the management and technical requirements are relatively high, and often become bottlenecks in capacity expansion.

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