Semiconductor equipment industry quick review report: The United States and Japan semiconductor equipment shipment record high optimistic about the growth of domestic semiconductor equipment

2022-05-18 0 By

What happened: On January 26, Semi-International Semiconductor Industry Association (SEMI) and Japan Semiconductor Manufacturing Equipment Association (SEAJ) announced that the value of 2021 semiconductor equipment shipments in North America and Japan respectively hit a record high.In December 2021, North American semiconductor equipment shipments were $3.92 billion, -0.5% month-on-month and +46.1% year-over-year, according to SEMI data.Shipments totaled a record $42.99 billion in 2021, +44.4% year on year.According to SEAJ, Japan’s semiconductor equipment manufacturing shipments in December 2021 amounted to 303.37 billion yen, +7.7% quarter-on-quarter and +71.0% year-on-year;In 2021, the shipment volume reached 3,076.76 billion yen, +37.1% year on year.Investment highlights: The global semiconductor equipment market continues to be prosperous, fab equipment spending is expected to continue to increase this year.According to SEMI and SEAJ data, semiconductor equipment shipments in North America and Japan in 2021 grew 44.3% and 37.1% year on year, respectively, hitting a record high, and the equipment market maintained a high boom.According to SEMI’s WorldFab Forecast, global front-end fab equipment spending is expected to grow by 10% in 2022 to exceed us $98 billion, a record high and three consecutive years of positive growth following 17% growth in 2020 and 39% growth in 2021.With 10 new fabs to be built globally in 2022, TSMC has revised its capital expenditure to more than $40 billion this year.Global semiconductor manufacturers are expected to open 29 high-capacity fabs by 2022, with capital expenditure of more than us $140 billion, according to SEMI’s World Fabs Forecast report released in June last year.TSMC 2021Q4 said at the meeting that it revised its capex to $40 billion to $44 billion this year ($30 billion in 2021), continuing to boost market confidence in zhenhua conductor equipment industry.70% to 80% of expenditures go to advanced processes, 10% to advanced packaging, and 10% to 20% to expertise.Domestic downstream capital expenditure continues, optimistic about China’s semiconductor equipment domestic replacement.At present, domestic SMIC, Changjiang Storage, Huahong Group and other companies have entered the expansion period, bringing order opportunities for domestic equipment manufacturers.China has become the world’s largest semiconductor equipment market, China’s semiconductor equipment has achieved key technological breakthroughs in a number of segments: the domestic rate of degluing equipment is 90%+, etching, heat treatment, cleaning equipment is about 20%, PVD, CMP equipment is about 10%, while ion injection, photography machine and other domestic rate is low.Glue removal equipment field, Yitang Semiconductor market share in 2020 the world first;In the field of cleaning equipment, Shengmei Shanghai has infiltrated the production lines of domestic and foreign customers with megabasonic wave cleaning technology, leading the domestic shipment.Etching equipment field, micro companies, North China chuang, Yi Tang semiconductor layout more.At present, the semiconductor industry has risen to the level of national strategy and has a strong driving force for localization. It is suggested to pay attention to the investment opportunities in the semiconductor equipment industry where the localization rate is expected to continue to increase.Risk factors: macroeconomic volatility risk, downstream capital expenditure less than expected risk (article source: Wanlian Securities)