Industry perspective: localization of LCD photoresist accelerates
Photoresist production requires technologies such as photochemistry, organic synthesis, polymer synthesis, refining and purification, microanalysis, and performance evaluation. It has extremely high technical barriers. At present, the global LCD photoresist market is dominated by Japanese and Korean companies. Taking color photoresist as an example, giants such as JSR, LG Chemical, Sumitomo Chemical, and Mitsubishi Chemical account for more than 90% of the global market share. It is estimated that the current global LCD photoresist market is about 10 billion yuan, and it is expected to remain stable in the next few years.
In recent years, my country's flat panel display industry has developed rapidly. Panel companies represented by BOE, China Star Optoelectronics, Tianma, etc. have risen rapidly, and the industrial center has clearly shifted to China. At the same time, under fierce market competition, Japanese and Korean panel production capacity has gradually withdrawn. In 2013, China's TFT-LCD panel revenue accounted for about 10% of the global revenue. At present, China's mainstream TFT-LCD panel manufacturers account for about 40% of the global revenue.
Domestic photoresists are gradually transitioning from low-end to high-end. Domestic manufacturers continue to develop and obtain core photoresist technologies through endogenous and epitaxy, gradually breaking the monopoly of Japanese and Korean companies.
According to calculations, with the shift of the LCD industry center and the general trend of localization of superimposed materials, my country’s LCD photoresist market size and localization rate are expected to gradually increase. It is expected that in 2019-2023, my country’s LCD photolithography The size of the glue market will increase from 4 billion yuan to 6.9 billion yuan, and CARG 14.6% in 4 years; the localization rate of LCD photoresist materials is expected to rapidly increase from 5% to 40%, and the leading domestic materials are expected to fully benefit. In the field of LCD photoresist, with the continuous breakthroughs in domestic technology, industry-driven and policy support, it is expected that leading companies will give priority to seizing the market space for localization, and are expected to enjoy rich performance returns under the global industrial transfer. (Public Securities News)