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HTTP:/WWW.LONGONE.COM.CN Table_Reportdate 2023 11 23 table_invest Table_NewTitle CMP Table_Authors S0630523060001 table_stockTrend table_product 1.MCU+loT 2.IGBT 3.4.table_main 2021 18.9 11.3 80%CMP Chemical Mechanical Polishing CMP Cabot Microelectronics TECHCET CMP 2016 11 2021 18.9 2026 25.3 TECHCET CMP 2016 6.5 2021 11.3 2D 3D 250nm 7nm 8 30 5 20 2D NAND 3D NAND 7 15 CMP CMP SEMI IDM 12 28nm 2023 106.5/2020 270%3D NAND 2020 5/2023 27.5/10%90%CMC Fujifilm Resonac Merck DuPont Cabot Microelectronics 2020 CMP 79%Cabot 5%Thomas West 4%1 2 3 4 1 2024 2 3 TFE-INK 2023Q4 4 TBA PSPI 1 2 3-16%-10%-4%2%8%14%20%22-11 23-02 23-05 23-08:(0727)300 HTTP:/WWW.LONGONE.COM.CN 2/34 1.CMP.5 1.1.CMP.5 1.2.CMP.6 2.CMP.8 2.1.8 2.2.CMP CMP.10 2.3.CMP.13 2.4.CMP.15 2.5.17 3.19 3.1.19 3.2.20 3.3.CMP.21 4.24 4.1.CMP.24 4.2.CMP.27 5.33 6.33 WUAZyRqNpMnMsMsRsPoRqRaQaO9PsQmMmOmPiNmNnMkPsQnRbRoPmQMYsQsOvPrNyR HTTP:/WWW.LONGONE.COM.CN 3/34 1 CMP.5 2.6 3.6 4 CMP.6 5 CMP.6 6.7 7%.8 8%.9 9 2022%.9 10 2019%.9 11 2019%.9 12 CMP%.10 13.10 14.10 15%.11 16%.11 17 CMP Entegris%.12 18 CMP.13 19 CMP.14 20.14 21 CMP.14 22.14 23 2020%.15 24.16 25.16 26.16 27.17 28%.17 29.17 30.19 31 BIS.19 32.19 33 2023-2026 200mm.20 34 2020 2025 300mm.21 35.21 36 TSV Pixel/DRAM/Logic 3 CIS.21 37 Bosch.22 38 9-11 CMP.23 39.23 40.23 41.24 42 2023 Q3.24 43.25 44 2023Q3%.25 45 2023Q3%.25 46&%.26 HTTP:/WWW.LONGONE.COM.CN 4/34 47%.26 48%.26 49%.26 50.27 51.28 52.29 53 2023Q3.30 54.30 55 2023Q3%.30 56 2023Q3%.30 57%.31 58%.31 59&%.31 60%.31 61%.32 62.32 63.32 1.11 2.15 3.17 HTTP:/WWW.LONGONE.COM.CN 5/34 1.CMP 1.1.CMP 1 CMP K CMP Chemical Mechanical Polishing 1965 Walsh IC CMP 0.35 m0.25 m CMP IC 0.18 0.13 m CMP 65nm RC K SiO2 CMP K CMP 65nm K CMP 30 20nm Cu 20nm CMP 14nm CMP FinFET TSV 1 CMP 2 CMP CMP/DOF IC IC 0.25um IC CMP 应用相关线宽技术 1950 年 机械抛光为主1um 1965 年 由Walsh 等人剔除化学机械抛光（CMP 概念）0.8um 1983 年 IBM 开始开发CMP 工艺0.5um0.25um 1986 至1992年 各式CMP 开始适量上 线，并于1992 年正式进入国际半导路线图0.18um65nm 1994 年 台湾首次应用CMP 于生产中 1996 年 日本大量应用CMP 技术65nm14nm 1997 年至2007 年 各类CMP 技术及产品用于芯片制造10nm7nm 2007 年至2014年 CMP 成为实现新的工艺技术如鳍式场效应晶体管（FinFET）、硅通孔技术（TSV）的关键技术7nm 以上 2014 年至今 CMP 工艺持续向5nm 及3nm 等先进制程推进 HTTP:/WWW.LONGONE.COM.CN 6/34 2 3 3 CMP CMP CMP/4 CMP 5 CMP 1.2.CMP CMP 3D NAND DRAM CMP HTTP:/WWW.LONGONE.COM.CN 7/34 CMP CMP TSV Fan-out 2.5D interposer 3D IC CMP CMP 6 HTTP:/WWW.LONGONE.COM.CN 8/34 2.CMP 2.1.1 2022 700 6%SEMI 2022 8.9%727 2021 668 2022 447 280 10.5%6.3%61.5%38.5%7%SEMI 2 2022 17.84%2022 129.70 7.3%2006 2022 6.38%17.84%201 13 13.6%129.70 7.3%240 246278330 328349404447193 182191197 193204263280-1.15%9.58%12.37%-1.14%6.14%20.61%9.00%-5%0%5%10%15%20%25%01002003004005006007008002015 2016 2017 2018 2019 2020 2021 2022 YoY()HTTP:/WWW.LONGONE.COM.CN 9/34 8%9 2022%SEMI 3 CMP 7%CMP 2019 7%3.69%10 2019%11 2019%4 80%CMP SEMI CMP 49%33%82%9%5%2.00%12.31%22.23%11.49%12.02%0%5%10%15%20%25%0200400600800100012002018 2019 2020 2021 2022 2023E 27.69%17.84%17.75%11.87%9.91%8.64%6.30%33%14%13%13%4%7%3%13%CMP 33%17%16%15%12%4%3%HTTP:/WWW.LONGONE.COM.CN 10/34 12 CMP%SEMI 2.2.CMP CMP 1 MRR Ra pH 2 60%CMP 2016-2018 68%62%57%13 14 3 TDL 49%33%9%5%4%CMP CMP HTTP:/WWW.LONGONE.COM.CN 11/34 STI 3D TSV 130nm 10nm 1/10nm TDL ILD IMD STI 3D TSV TSV 4 Cabot Microelectronics TECHCET CMP 2016 11 2021 18.9 2026 25.3 15%16%Techcet 5 0 1 CMC Materials Entegris 2000 80%2022 CMP CMC Materials Entegris 28%3%5%7%-10%0%10%20%30%40%50%0510152025302016 2017 2018 2019 2020 2021 2026E YOY 0%5%10%15%20%05101520252016 2017 2018 2019 2020 2021 CMP YOY HTTP:/WWW.LONGONE.COM.CN 12/34 17 CMP Entegris%6 CMP Entegris CMP Entegris,Inc.2022 7 CMC Materials,Inc.CMP Cabotelectronics CMC Cabot Corporation CMP 2020 10 1 CMC Materials Entegris 2022 Entegris 30,000 2022 4%HTTP:/WWW.LONGONE.COM.CN 13/34 18 CMP 2.3.CMP 1 IC1000 IC1400 IC2000 SUBAIV IC1000 HTTP:/WWW.LONGONE.COM.CN 14/34 19 CMP 20 2 CMP TECHCET CMP 2016 6.5 2021 11.3 CMP 2021 13.1 21 CMP 22 TECHCET TECHCET 3 CMP 79%Cabot Entegris 5%Thomas West 4%-10%0%10%20%30%40%50%0246810122016 2017 2018 2019 2020 2021 CMP YOY 0%5%10%15%20%25%30%024681012142016 2017 2018 2019 2020 2021 CMP YOY HTTP:/WWW.LONGONE.COM.CN 15/34 23 2020%4 IC1000 20 85%30 Entegris CMC Fujibo TWI PuRa WestPad 2 IC1000 Ikonic Optivision Optivision PRO Politex Suba Visionpad Entegris CMC NexPlanar MEDEA Epic Epic Power Fujibo FP series FX seires FXA series Suede series TWI PuRa WestPad 资料来源：集成电路材料，东海证券研究所 2.4.CMP 1 1997 2004 2009 2010 12 8 12 2023 6 30 846 71 479 296 104 79%5%4%2%1%9%CMC Entegris Thomas West Inc.TWI)Fojibo HTTP:/WWW.LONGONE.COM.CN 16/34 24 2004 2022 2 28 8%k 25 26 2 3-4 0501001502002501997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 3031199693 3 1050100150200250300350 WO HTTP:/WWW.LONGONE.COM.CN 17/34 27 3 85.33%12.76%1.48%/28%29 2023 6 30 2023 6 30 2.5.2020 0 1”2021 3 发布时间 发布单位 政策名称 2020 1 0 1 12.76%85.33%HTTP:/WWW.LONGONE.COM.CN 18/34 2020 7 2020 9 2021 3 2035 2021 6 2021 7 2021 9 2021 12 2021 12 2021 12 2021 2022 8 2023 6 HTTP:/WWW.LONGONE.COM.CN 19/34 3.3.1.1 2022 5384 18.4%25801 12796 13004 2 30 iFind 2 BIS 2022 10 7 16/14nm 128 NAND 18nm DRAM 2023 3 31 23 EUV 31 BIS 32 BIS e-gov 01002003004005006007002013-032013-072013-112014-032014-072014-112015-032015-072015-112016-032016-072016-112017-032017-072017-112018-032018-072018-112019-032019-072019-112020-032020-072020-112021-032021-072021-112022-032022-072022-112023-03集成电路出口数量（亿个）集成电路进口数量（亿个）HTTP:/WWW.LONGONE.COM.CN 20/34 3.2.1 200mm 22%SEMI 2026 200mm 14%12 200mm EPI 770 80nm 130nm 10%131nm 350nm 2023 2026 18%200mm 32%22%200mm 2026 170 14%11%7%33 2023-2026 200mm SEMI 2 300mm 2022 22%2026 25%SEMI 300mm-2026 2022 2026 82 2026 300mm 960 2022 22%2026 25%240 20/IDM 12 28nm 2023 106.5/2020 270%3D NAND 2020 5/2023 27.5/DRAM 2020 4/25/8 2020 80.5/2023 121.5/50%8 HTTP:/WWW.LONGONE.COM.CN 21/34 34 2020 2025 300mm 35 SEMI 3.3.CMP 1 3D TSV 1965 SiP SiP 3D-SiP 3D-SiP TSV 36 TSV Pixel/DRAM/Logic 3 CIS(3D-SiP)2 TSV TSV TSV 65 54 401234567 HTTP:/WWW.LONGONE.COM.CN 22/34 TSV 1 TTSV 2 STI KOZ 3 TSV TSV TSV 1 Bosch 2 PECVD HDPCVD 3 PPR 37 Bosch(3D-SiP)3 CMP CMP TSV 1 TSV 2 TSV TSV CMP HTTP:/WWW.LONGONE.COM.CN 23/34 38 9-11 CMP 4 CMP CMP Yole 2022 443 2028 786 10.6%CMP CMP 180 CMP 10 14 CMP 21 7 CMP 30 2D NAND 3D NAND CMP 7 15 39 40 81011121417182021283005101520253035265902468101214162D NAND 3D NAND HTTP:/WWW.LONGONE.COM.CN 24/34 4.4.1.CMP 1 2006 2008 2009 2015 2016 2017 2019 7 CMP 41 2 Anji Cayman Anji Microelectronics Co.,Ltd.30.91%42 2023 Q3 iFind 3 HTTP:/WWW.LONGONE.COM.CN 25/34 43 4 CMP 2021 2022 10.77 2023 9 13.2%3.15 52.7%CMP 44 2023Q3%45 2023Q3%iFind iFind 5 50%2023Q3 56.04%3.42pcts Q3 57.74%3.66pcts 0%10%20%30%40%50%60%70%0246810122017 2018 2019 2020 2021 2022 2023Q3-50%0%50%100%150%0123452017 2018 2019 2020 2021 2022 2023Q3 HTTP:/WWW.LONGONE.COM.CN 26/34 3.12 46&%47%iFind iFind 6 2023Q3 1.66 18.51%2020 100 42.65%45.69%48%49%iFind iFind 7 3DNAND 55.80%51.10%50.25%52.03%51.08%54.21%56.04%17.10%18.14%23.07%36.46%18.22%27.99%35.12%0%10%20%30%40%50%60%2017年 2018年 2019年 2020 年 2021年 2022年 2023Q3%-10%0%10%20%30%40%50%2017 2018 2019 2020 2021 2022 2023Q3%0.5110.540.580.891.531.611.660%5%10%15%20%25%0122017 2018 2019 2020 2021 2022 2023Q3 677411914518036.02%37%42.65%43.81%45.69%0%5%10%15%20%25%30%35%40%45%50%0204060801001201401601802002018 2019 2020 2021 2022 HTTP:/WWW.LONGONE.COM.CN 27/34 50 4.2.CMP 1 2000 2010 CMP CMP CMP HTTP:/WWW.LONGONE.COM.CN 28/34 51 2 CMP CMP YPI PSPI Underfill PSPI HTTP:/WWW.LONGONE.COM.CN 29/34 52 3 2023 14.74%14.61%29.35%HTTP:/WWW.LONGONE.COM.CN 30/34 53 2023Q3 54 iFind 4 2019 2020 2022 27.21 15.49%CMP CMP YPI PSPI 2023 55 2023Q3%56 2023Q3%iFind iFind 5 CMP CMP 0.23 2023Q3CMP 3.71%CMP-CMP-30%-20%-10%0%10%20%30%40%50%60%70%0510152025302017 2018 2019 2020 2021 2022 2023Q3-700%-600%-500%-400%-300%-200%-100%0%100%200%-2-10123452017 2018 2019 2020 2021 2022 2023Q3 HTTP:/WWW.LONGONE.COM.CN 31/34 57%58%iFind iFind 6 2020 2023 Q3 2.31 2023 2.77 27%59&%60%iFind iFind 7 2023Q3 2.77 2.48 2023 6 30 846 71 479 296 104 0%20%40%60%80%100%2018 2019 2020 2021 2022 2023H1%CMP%-30%-20%-10%0%10%20%30%40%50%60%70%2018 2019 2020 2021 2022 2023H1%CMP%-10%0%10%20%30%40%50%2019 2020 2021 2022 2023Q3%-5%0%5%10%15%20%25%30%35%2017 2018 2019 2020 2021 2022 2023Q3%HTTP:/WWW.LONGONE.COM.CN 32/34 61%62 iFind 8 CMP CMP 2024 CMP/YPI PSPI TFE-INK 2023Q4 63 0%10%20%30%40%50%60%00.511.522.533.52019 2020 2021 2022 2023Q3 YOY 84104 10467 69 7123027629638943947901002003004005006002021 2022 2023H1 HTTP:/WWW.LONGONE.COM.CN 33/34 5.1 2 3 4 1 24 2 3 TFE-INK 23Q4 4 TBA PSPI 6.1 2 3 HTTP:/WWW.LONGONE.COM.CN 34/34 6 300 20%6 300-20%20%6 300 20%6 300 10%6 300-10%10%6 300 10%6 300 15%6 300 5%15%6 300-5%5%6 300 5%15%6 300 15%1928 87 D 15F Http:/Http:/8621 20333275 18221959689 8610 59707105 18221959689 8621 50585608 8610 59707100 200215 100089
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