The electromagnetic waves generated by the components in the circuit will cause electromagnetic interference, and the electromagnetic shielding film is the core material of the FPC to achieve electromagnetic shielding to ensure normal operation. The electromagnetic shielding film has a great market development space in the FPC.
Compared with developed countries and regions such as Japan, China’s electromagnetic shielding film industry started late, and it was initially industrialized in 2012. After 2014, China’s electromagnetic shielding film technology matured and improved, and it gradually realized self-production instead of imports. In the future, China’s electromagnetic shielding film industry will gradually become more mature. The shielding film industry will usher in a boom.
First, in recent years, the growth of consumer electronics such as smart phones, tablets, wireless headsets, smart watches, and automotive electronics such as new energy vehicles has greatly driven the growth of FPC demand and indirectly driven the growth of the electromagnetic shielding film industry.
Second, with the future global FPC production capacity will be further transferred to China, prompting China's electromagnetic shielding film market to grow at a faster rate.
At the same time, the development of 5G technology has increased the number of components, which has led to an increase in interference sources. In addition, the increase in circuit integration has led to a reduction in component spacing, and the increase in communication frequency itself causes more serious electromagnetic interference, which to a certain extent promotes an increase in the area of the electromagnetic shielding film per unit area of FPC.
Authoritative organizations predict that the global electromagnetic shielding film market is expected to reach 4.73 billion yuan and 7.61 billion yuan in 2025 and 2030, respectively; the Chinese market is expected to reach 3.23 billion yuan and 5.48 billion yuan in 2025 and 2030, respectively.
The investment value of electromagnetic shielding film in the industrial chain is more prominent. It is understood that the upstream of the electromagnetic shielding film industry is the chemical raw material industry, including conductive particles, polyester film and other sub-sectors. The overall industry is relatively scattered; the downstream of the electromagnetic shielding film industry is FPC, and the industry structure is relatively concentrated; the electromagnetic shielding film is located in the FPC industry In the middle reaches of the chain, the industry concentration is high. Compared with the upstream and downstream of the industry, the production and sales rate, gross profit margin and turnover rate of electromagnetic shielding film are all at a relatively high level.
Hay Think analyzed the leading characteristics of Top 2 companies in the electromagnetic shielding film industry-Japan's TATSUTA and China's GZFB Electronic Materials Technology Group. Leading companies have deep technical accumulation and can continue to develop new products to meet downstream demand; their production capacity is sufficient to meet the needs of downstream FPC manufacturers at any time; at the same time, leading companies continue to expand their diversified business based on core technologies.
Although there are still risk factors in the electromagnetic shielding film industry, such as increased competition leading to the decline in the prices of FPC and electromagnetic shielding films, and the lower than expected sales of 5G mobile phones, consumer electronics and new energy vehicles, the gross profit margin of the electromagnetic shielding film industry is as high as 70%, which is significantly higher than Other links in the industry chain. The combination of sales-fixed production and demand forecasting has brought about high inventory turnover rate and the three characteristics of the duopoly pattern formed in the world, which will make it still have a high investment value in the FPC industry chain.