The Zhitong Finance App learned that GF Securities released a research report saying that with the rise of semiconductor manufacturing, advanced ceramic components are the core consumables for cutting-edge equipment, and domestic substitution is moving from technological breakthroughs to the stage of batch release. The expansion of domestic fab production resonates with supply chain security requirements, and local ceramic component companies are expected to continue to benefit from the increase in the localization rate. Focus on the field of semiconductor equipment components, and it is recommended to focus on the core beneficiary targets of the industrial chain.
The main views of GF Securities are as follows:
Advanced ceramic components are the core consumables and key structural components of semiconductor front-end equipment
Advanced ceramic materials (aluminum oxide, aluminum nitride, silicon nitride, silicon nitride, etc.) have comprehensive properties such as high hardness, high temperature resistance, high insulation, and thermal expansion coefficient matching, and are rigid consumables that guarantee the accuracy and yield of chip processes in the form of electrostatic chucks, ceramic heaters, gas spray heads, focus rings, and ceramic cavity linings in the form of electrostatic chucks, ceramic heaters, gas spray heads, focus rings, and ceramic cavity linings.
Advanced ceramic components are widely used in precision loading and temperature management processes of semiconductor equipment
The electrostatic chuck uses the electrostatic adsorption principle to firmly fix the wafer in the reaction chamber, and at the same time achieve precise temperature control on the wafer surface through backblown gas. It is a standard configuration to replace traditional mechanical chucks and vacuum chucks in processes such as etching, CVD, PVD, and ion implantation, and directly determines the stability and process yield of wafer processing. Ceramic heating plates are based on high thermal conductivity ceramics such as aluminum nitride to achieve uniform heating and rapid temperature rise and fall in high temperature processes such as oxidation diffusion and CVD, and are the core components to ensure the quality of film deposition. The gas spray head is responsible for evenly distributing the reaction gas to the surface of the wafer. The ceramic material effectively resists loss caused by plasma etching and ensures process uniformity. The focus ring is used to limit the plasma distribution range, prevent electric field distortion at the edge of the wafer, and improve etching uniformity. The ceramic cavity lining covers the inner wall of the reaction chamber to resist chemical erosion of corrosive gases, extend the life of the equipment cavity, and reduce particle pollution. Ceramic components perform the key functions of carrying, controlling temperature, conducting gas, restraining plasma or protecting cavities, and work together to ensure the stable operation and high yield of semiconductor processes.
The global market shows an oligopoly pattern, and domestic substitution by local companies has entered a period of accelerated expansion
According to QYResearch, the global market for structural ceramic components for semiconductors will be approximately US$3.147 billion in 2025, and is expected to reach US$5.163 billion in 2031, with a compound annual growth rate of about 8.6%. However, high-end ceramic parts are still dominated by giants such as Japan's Kyocera, Japan Insulators, and the US CoorsTek. Japanese companies account for more than 50% of the world's share, and the domestication rate of the high-end domestic market is less than 10%. At present, the competitive pattern of the domestic advanced ceramic parts industry is concentrated. Major local companies such as Kema Technology, Fuller, and Jiang Feng Electronics have each achieved breakthroughs in segmented categories: Kema Technology took the lead in mass production of ceramic heaters, leading the local market share in advanced semiconductor structural ceramics; Jiang Feng Electronics lays out electrostatic chuck production capacity, and high-precision alumina ceramic components are in the mass production stage; Fuller has completed the integration of Fullerton into the field of copper-clad ceramic carriers and is actively deploying in the AlN heater direction. Local ceramic parts companies are entering a critical window period from technological breakthroughs to batch release, driven by the continuous expansion of production in domestic 12-inch fabs, driving up the consumption of single-device ceramic components, and downstream customers actively accelerating the domestic substitution process under supply chain safety considerations.
Risk Alerts
The development of the AI industry and the expansion of downstream fab production fell short of expectations; advanced ceramic component technology certification cycle was long, and customer introduction fell short of expectations; product yield and cost control from domestic manufacturers fell short of expectations; increased market competition and supply chain security risks.