On the evening of September 14, ZJJM Electronic Materials Technology Group, China's leading manufacturer of thin carrier tapes for electronic component packaging, issued an announcement:
The company will invest no more than 600 million yuan to invest in the construction of an optical-grade BOPET film (optical-grade polyester film) production line with an annual output of 36,000 tons and an annual production line of CPP (cast polypropylene film) protective film with an annual output of 6,000 tons.
ZJJM is a one-stop service provider of thin carrier tape for electronic component packaging. The company's main products include paper carrier tape, adhesive tape, plastic carrier tape and release film, which account for 73.96%, 14.47%, 5.24% and 4.76% respectively. The company's global market share in the paper carrier tape field ranks first, as high as 40%.
The optical-grade BOPET film produced in this fundraising project will be mainly used as the raw material for the production of MLCC release film and polarizer release film. The market prospects of its downstream products, MLCC release film and polarizer release film, determine The market prospect of optical grade BOPET film.
It is reported that MLCC release film is mainly used for the production of MLCC. MLCC is called "industrial rice" because of its wide use. The main terminal applications are smart phones, notebook computers, automotive electronics, smart wearable devices, etc. The rapid development of 5G, Internet of Things, new energy vehicles and other fields supports the growth of MLCC demand and will also drive the demand for MLCC release film.
According to data released by the China Electronic Components Industry Association, the global MLCC market size in 2018 is about 15.75 billion U.S. dollars, and the global MLCC market size is expected to be about 15.84 billion U.S. dollars in 2019, and it is expected to reach 18.19 billion U.S. dollars by 2023. In 2018, China Mainland MLCC industry The market size is about 43.42 billion yuan. The market size of China's MLCC industry is expected to be about 43.82 billion yuan in 2019, and it is expected to reach 53.35 billion yuan by 2023.
According to Paumanok data, global MLCC shipments in 2019 are about 4.5 trillion units. Assuming that a single MLCC is made up of 400 single-layer stacks, and assuming that the area of a single-layer MLCC is 5 square millimeters, the area of the release film consumed to produce a single-layer MLCC is roughly equivalent to the area of the MLCC. It is estimated that the global MLCC release film in 2019 The demand is about 9 billion square meters.
From the perspective of supply, the current suppliers of MLCC release film are mainly Teijin DuPont, Mitsui Chemicals, Lindeco in Japan, SKC in South Korea, Nanya Plastics in Taiwan, etc., among which Japanese companies occupy most of the market share. ZJJM is one of the few leading manufacturers of MLCC release film in China.
From the perspective of the MLCC industry chain, under the background of Sino-US trade frictions, Chinese terminal manufacturers have begun to shift their supply chains to the country. Domestic MLCC manufacturers such as Fenghua Hi-Tech and Sanhuan Group are also continuing to expand production to seize market share of international competitors. Because MLCC release films have high requirements for surface smoothness, there are currently very few domestic manufacturers that can produce MLCC release films. MLCC release films used in China mainly rely on imports, and there is a large room for import substitution. The implementation of this project will also accelerate the domestic substitution process of MLCC release film. Investment in the construction of MLCC release film: optical grade BOPET film, CPP protective film production line