Core view
Semiconductor: the sales volume of wafer foundry is expected to maintain rapid growth in 2022, and Chinese power semiconductor enterprises welcome the good
In 2022, the global wafer foundry sales are expected to exceed US $130 billion, with a year-on-year increase of 20%. According to IC insights, the global wafer foundry sales revenue in 2021 was USD 110.1 billion, a year-on-year increase of 26%; It is estimated that the sales volume of wafer foundry is expected to reach 132.1 billion US dollars in 2022, with a year-on-year increase of 20%. From 2016 to 2021, the global wafer foundry grew rapidly, with CAGR of 11.0%.
The Chinese mainland's foundry sales growth rate is higher than that of the market, and the market share has increased to 8.5%. According to IC Insights data, the sales of Semiconductor Manufacturing International Corporation(688981) and Huahong group in Chinese mainland in 2021 increased by 39% and 52% respectively, which were higher than the overall market growth rate (26%). The Chinese mainland's foundry market share increased 0.9 percentage points to 8.5% in 2021. Chinese mainland foundry market share is expected to remain relatively stable, and the market share is expected to be 8.8% in 2026.
Wingtech Technology Co.Ltd(600745) IGBT has been successfully streamed, and the production capacity construction goal of Hangzhou Silan Microelectronics Co.Ltd(600460) phase I project has been completed, with a monthly production capacity of 40000 pieces The Wingtech Technology Co.Ltd(600745) wholly-owned subsidiary Anson semiconductor established the China Research Institute in 2021, focusing on the research and development of new products such as high-voltage power devices and analog ICs. At present, the IGBT Series products independently designed and developed by it have been successfully produced, and significant progress has been made, and all parameters meet the design requirements Hangzhou Silan Microelectronics Co.Ltd(600460) on March 9, it was announced that by the end of 2021, Shilan Jike had achieved the production capacity construction goal of 40000 chips per month in phase I project, the chip output reached 36000 in December, and more than 200000 chips were output in 2021. At present, Shilan Jike's 12 inch line products include trench gate low-voltage MOS, trench separation gate sgt-mos, high-voltage superjunction MOS, trench Schottky, IGBT, high-voltage integrated circuit, etc.
We believe that the boom of the semiconductor industry will not decrease in 2022, and power semiconductors are expected to fly together in volume and price. The imbalance between supply and demand in the semiconductor industry has not been significantly alleviated. In the long run, the restoration of the balance between supply and demand is expected to be delayed until 2023, and the scale of the downstream demand industry of power semiconductors continues to expand. Among them, the rapid development of new energy vehicles, industry, renewable energy power generation and other fields will drive the continuous expansion of the market space of power semiconductors. At the same time, the domestic substitution trend is improving, and the domestic power semiconductor products represented by IGBT are accelerating into the golden development period. According to IHS data, the scale of China's power semiconductor market is expected to reach US $18.270 billion in 2022, and the CAGR will reach 7.11% in 20182022. At present, China's power semiconductor market is becoming more and more mature. As the world's largest power semiconductor consumer, China's market scale will maintain rapid growth with the continuous expansion of downstream application fields.
Risk tips
Downstream demand is lower than expected; The frequent occurrence of black swan events brings the risk of capacity obstruction. Related subject matter
Semiconductor design: [ Will Semiconductor Co.Ltd.Shanghai(603501) ] [ Allwinnertech Technology Co.Ltd(300458) ] [ Gigadevice Semiconductor (Beijing) Inc(603986) ] [ Sg Micro Corp(300661) ] [ Maxscend Microelectronics Company Limited(300782) ]; Wafer Foundry: [ Semiconductor Manufacturing International Corporation(688981) ] [Huahong semiconductor]; Semiconductor materials: [ Red Avenue New Materials Group Co.Ltd(603650) ] [Jingrui shares]; Power semiconductor: [ Wingtech Technology Co.Ltd(600745) ] [ China Resources Microelectronics Limited(688396) ] [ Hangzhou Silan Microelectronics Co.Ltd(600460) ] [ Starpower Semiconductor Ltd(603290) ] [ Wuxi Nce Power Co.Ltd(605111) ]
Consumer electronics: [ Goertek Inc(002241) ] [ Sunwoda Electronic Co.Ltd(300207) ] [ Avary Holding (Shenzhen) Co.Limited(002938) ] [ Luxshare Precision Industry Co.Ltd(002475) ]; Smartphone: [Xiaomi group]
Folding screen: [ Jiangsu Gian Technology Co.Ltd(300709) ] [ Wuhu Token Sciences Co.Ltd(300088) ]
