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世界の先端IC基板市場 2027年~2037年

世界の先端IC基板市場 2027年~2037年


The Global Advanced IC Substrates Market 20272037

高度なIC基板材料はAIハードウェアの物理的基盤を形成しており、市場は成熟した汎用製品の供給段階から、わずか1つの製品サイクルの中で深刻な供給制約に直面する状況へと移行した。 基板製造で使用され... もっと見る

 

 

出版社
Future Markets, inc.
フューチャーマーケッツインク
出版年月
2026年9月8日
電子版価格
GBP1,200
シングルユーザライセンス
ライセンス・価格情報/注文方法はこちら
納期
PDF:3-5営業日程度
ページ数
354
言語
英語

日本語のページはAI翻訳を利用し作成しています。
実際のレポートは英文のみでご納品いたします。


 

サマリー

Advanced IC Substrates Market Report 2027-2037

高度なIC基板材料はAIハードウェアの物理的基盤を形成しており、市場は成熟した汎用製品の供給段階から、わずか1つの製品サイクルの中で深刻な供給制約に直面する状況へと移行した。 基板製造で使用される9つの材料分類とは、積層誘電体フィルム、銅張積層板およびプリプレグ、ガラス布補強材、充填材、銅箔、ドライフィルムフォトレジスト、ソルダーレジスト、めっきおよびデスミア用化学薬品、ならびに表面仕上げ用化学薬品である。これらの市場の成長率は、それらが供給する基板市場を大幅に上回っている。 

最近の動向により、供給情勢は一変した。イビデンは、2026年度から3年間で5,000億円を投じることを決定し、併せてアリゾナ州に12億米ドルの施設を建設する。AT&Sは、AMDと別の顧客1社による全額出資により、クリム工場の拡張に向けて15億~20億ユーロを確保した。 ユニミクロンは2026年度の設備投資額を250億台湾ドル以上に設定した。発表済みの基板関連投資総額は129億米ドルを超える一方、基板の原料となる材料への投資額は約15億5,000万米ドルにとどまっている。この8対1を超える比率により、基板の供給逼迫が緩和されても、材料の供給逼迫は継続することになる。

集中こそが、その構造上の決定的な特徴である。 代替圧が高まっている。京セラは2026年4月に多層セラミックコア基板を商品化し、サムスンエレクトロメカニクスは住友化学とガラス基板の合弁会社を設立し、2027年初頭の生産開始を目指している。これに加え、ユニミクロンもコーニングのパイロットプロジェクトに参画している。 非有機コアへの採用が加速すれば、2037年までに積層板およびガラスクロスの需要の32%が消失する一方、ビルドアップフィルムの需要は16%減少し、めっき用化学薬品の需要は増加することになる。

「2027年~2037年の世界の先端IC基板市場」レポートでは、先端IC基板の製造に使用される材料の消費量を、それらの材料が生産、販売、および生産能力計画において用いられる単位(トン、平方メートル、リットル)で予測しています。本レポートは基板そのものを対象とした調査ではありません。基板の生産は「投入」であり、材料の消費は「産出」です。 既存の基板市場調査では、パッケージ設計者、OSAT、ファブレス企業を対象に、基板の出荷数量と売上高が予測されています。材料の投入量はモデリング上の仮定として扱われており、開示されていません。ビルドアップフィルム、銅箔、ガラス布、充填剤、めっき薬品のメーカーにとって、その仮定は対象市場全体を構成しています。本レポートでは、これを主題としています。

調査対象は9つの材料分類と7つの地域に及び、需要は基板の製造地域ごとに配分されています。6つのシナリオでは、AI関連設備投資の減速、ガラスコアの採用加速、供給の混乱、中国における急速な現地化、およびパネルフォーマットの移行について検証しています。

内容は以下の通りです:

  • 2027年~2037年の市場規模および予測(トン、平方メートル、米ドル単位)、素材分類、基板プラットフォーム、用途、地域別
  • 変換係数の完全な開示と面積密度表を備えた5段階の予測手法
  • 素材クラスごとに乗数を重ね合わせると、12%のペースで成長しているクラスと4.7%のペースで成長しているクラスとの間に生じる乖離が明らかになる
  • ボディサイズの全範囲にわたって、510 × 515 mm および 730 × 920 mm のフォーマットについて算出されたパネルの利用形状
  • 層ごとの歩留まりと層数に基づく複合積層の歩留まりモデリング
  • 224Gおよび448Gに向けたシグナルインテグリティのロードマップ(積層板の損失クラスに基づいて誘電体減衰を算出したもの)
  • 素材ごとの分析:グレード、仕様、サプライヤー動向、生産能力、認定サイクル、需要予測
  • 非有機物のコア置換:ガラスおよびセラミック。材料の置換量は1平方メートルあたりで定量化される。
  • クラス別のCR1、CR3、CR5およびHHIを用いた集中度分析;単一供給源への依存度および市場崩壊コストのモデル化
  • 地域別の生産と消費のバランスおよび貿易への依存度
  • PFASへの曝露、回収率、および材料分類別の埋め込み炭素量
  • 3D Glass Solutions、Absolics、Admatechs、Advanced Chip and Circuit Materials、Advanced Semiconductor Engineering (ASE)、Aeluma、AGY Holding、味の素、味の素ファインテクノ、AKM Meadville、Alliance Material、AMD、旭化成、AT&S、Baotek Industrial Materials、BOE Technology、Chang Chun Group、Chang Chun Petrochemical、Chemtronics、Chongqing Polycomp、Circuit Foil Luxembourg、Co-Tech Development、Coherent、Compeq Manufacturing、コーニング、Daeduck Electronics、大日本印刷、デンカ、斗山(Doosan Corporation)、Doosan Corporation Electro-Materials、DuPont Electronics / Qnity、Elite Material、Eternal Materials、Fastprint Circuit Tech、FICT、フジクラ、福田金属箔粉工業、古河電気工業、FusionAP、Goldenmax International、Grace Fabric Technology、Haesung DS、イビデン、インテル、Isola Group、ITEQ Corporation、Itera、JCET、JCU、Jiujiang Defu Technology、JNTC、Jushi Group、JX金属、KCC、Kingboard Laminates、Kinsus Interconnect、Kinwong Electronic、京セラ、Lens Technology、LG化学、LG Innotek、Lotte Energy Materials、LPKF Laser & Electronics、MacDermid Alpha、名幸電子工業、三菱ケミカルなど、計116社の企業プロフィールを収録。


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目次

1             エグゼクティブ・サマリー            24
1.1        適用範囲および主要用語の定義         24
1.2        基板材料の積層構造            24
1.3        主な調査結果    26
1.4        市場規模、成長率、およびCAGRの概要    27
1.5        素材別主要予測             28
1.6        地域別の主要予測               29
1.7        供給集中の概要     30
1.8        利用の非対称性:材料需要が基板面積の伸びを上回る理由        31
1.9        サプライヤーにとっての戦略的意味合い 33
1.10     購入者に対する戦略的示唆      33
 
2             はじめにおよび範囲             34
2.1        本報告書の目的        35
2.2        対象範囲:9つの重要物質分類   35
2.3    地理的範囲:7つの地域            36
2.4        グレードおよび仕様の定義               37
2.4.1    積層フィルムグレード群 37
2.4.2    CCL の損失正接クラス     37
2.4.3    ガラス布誘電体グレードおよび織り方       38
2.4.4    銅箔プロファイルクラス    38
2.4.5    ドライフィルムレジストの解像度クラス     39
2.5        単位、規約および略語           39
 
3             先進IC基板の需要基盤     40
3.1        対象となる基板プラットフォーム              41
3.1.1    フリップチップ BGA およびビルドアップ基板         41
3.1.2    基板型PCB(SLP)        42
3.1.3    埋め込みダイ基板     42
3.1.4    コアレスおよび基板レスアーキテクチャ(CoWoP)          42
3.1.5    非有機コア      42
3.2        需要単位としての基板面積 42
3.2.1    用途別のボディサイズの推移         43
3.2.2    積層層数の推移  44
3.2.3    ライン/スペースのロードマップと材料への影響     45
3.3.1    ストリップ、パネル、および大型パネルの処理      47
3.3.2    パネルの利用率とエッジロス          47
3.3.3    プラットフォームごとの歩留まりの想定           49
3.3        パネル形式と稼働率              47
3.4        2025年~2037年の基板生産能力の見通し             52
3.5         基板メーカーの動向 54
3.6        材料の認定実務とサイクルタイム      55
 
4             需要の推進要因     57
4.1        AIアクセラレータおよびGPUの出荷台数 58
4.2        HBMの積層高とメモリ基板の需要               60
4.3        チプレットの採用とパッケージ面積の拡大               63
4.4        コパッケージされた光学部品およびフォトニック基板         65
4.5        サーバー用 CPU およびネットワーク用 ASIC   66
4.6        モバイルおよびコンシューマー向け              66
4.7        自動車および産業用     67
4.8        航空宇宙および防衛          67
4.9        シグナル・インテグリティのロードマップ:224G、448G、およびそれによる重大な影響          68
4.10     需要シナリオの定義             69
 
5             予測手法               71
5.1        モデルアーキテクチャ     71
5.2        デバイス出荷台数対基板面積               72
5.3        基板面積と層面積 72
5.4        層面積から材料質量へ:面密度と厚さ               74
5.5        銅の厚さ、めっき余裕、およびエッチング損失             75
5.6        歩留まり、スクラップ、および利用率  77
5.7        パネル形式の感応度          79
5.8        価格モデリングと平均販売価格(ASP)の低下      81
5.9        サプライヤーのセグメント報告とのトップダウン方式による照合        82
 
6             材料のセグメンテーション  82
6.1        材料とプロセスのマッピング             83
6.2        材料とプラットフォームのマッピング            85
6.3        セグメントの定義と主な用途        86
6.4        代表的な先進基板のコスト内訳 88
 
7             2027年~2037年の世界市場規模と予測            91
7.1        市場規模(数量および金額)          91
7.2        素材種別別予測    93
7.3        基板プラットフォーム別予測          95
7.4        用途別予測          95
7.5   地域別市場予測      96
7.6        価格予測および平均販売価格(ASP)の推移              97
7.7        シナリオ分析       99
7.7.1    AI 設備投資の減速    100
7.7.2    ガラスコアの採用加速      100
7.7.3    供給の混乱       101
7.7.4    中国における急速な現地化  101
 
8             材料ごとの分析  102
8.1        積層誘電体膜         102
8.1.1    機能と要件  102
8.1.2    ABFの構造:樹脂、キャリア、カバーシート   102
8.1.3    GX シリーズから GL シリーズへの進化とフィラー含有量               104
8.1.4  224G およびそれ以降の    の Dk/Df 目標値 105
8.1.5    熱膨張係数(CTE)、反り、および寸法安定性      106
8.1.6    フィラーの化学的性質、含有量、および粒子径   106
8.1.7    積層および硬化プロセスのウィンドウ        107
8.1.8    デスミア耐性および銅への密着性          109
8.1.9    ABF-RCC および樹脂コーティング型               109
8.1.10 競合フィルム:日本、米国、中国、韓国              110
8.1.11 認定の障壁と切り替えコスト 112
8.1.12 生産能力、拡張、およびリードタイム               113
8.1.13 単一供給源への依存度の定量化          113
8.1.14 2027年~2037年の需要予測             114
8.2        銅張積層板およびプリプレグ 116
8.2.1    構造とグレード       116
8.2.2    BT樹脂系          117
8.2.3    エポキシおよび変性エポキシ     117
8.2.4    低損失および超低損失システム            117
8.2.5    ハロゲンフリーの再配合  119
8.2.6    薄芯およびコアレス加工 119
8.2.7    サプライヤーの動向と生産能力     120
8.2.8    2027年~2037年の需要予測             120
8.3.1    スタイルおよび織り構造       122
8.3.2    低Dkおよび低Df組成   124
8.3.3    低CTEおよび高弾性率:Tガラス              125
8.3.4    極薄およびスプレッドヤーン織物  126
8.3.5    低Dkおよび低CTEというボトルネックの定量化      127
8.3.6    中国における現地化プログラム  128
8.3.7    グレード別需要予測(2027年~2037年)         128
8.4.1    シリカ、アルミナ、特殊充填剤 130
8.4.2    粒子径分布および表面処理     130
8.4.3    サプライヤー動向   132
8.4.4     需要予測 2027年~2037年             132
8.5.1    電着品と圧延焼鈍品の比較   133
8.5.2    薄型、VLPおよびHVLPグレード  134
8.5.3    キャリア箔の構造と剥離層の化学組成       134
8.5.4    表面粗さと挿入損失のトレードオフ 136
8.5.5    バッテリー用銅箔との容量競争        137
8.5.6    銅価格の変動リスクと価格転嫁  138
8.5.7    2027年~2037年の需要予測             138
8.6.1    ライン/スペースノードごとの解像度要件           140
8.6.2    サプライヤー動向   141
8.6.3    2027年~2037年の需要予測             142
8.7.1    製剤および要件          142
8.7.2    サプライヤー動向   142
8.7.3    2027年~2037年の需要予測             142
8.8.1    デスミアおよび過マンガン酸塩系処理          143
8.8.2    無電解銅     143
8.8.3    電解銅、添加剤およびレベラー                143
8.8.4    ビア充填およびガラス貫通ビアのメタライゼーション 144
8.8.5    ファブ用湿式化学薬品供給との重複         145
8.8.6    2027年~2037年の需要予測             145
8.9.1    ENIG、ENEPIG、OSPおよび代替品              146
8.9.2    金およびパラジウムの消費量   147
8.9.3    2027年~2037年の需要予測             148
8.3        ガラス繊維補強材     122
8.4        フィラー  130
8.5        銅箔      133
8.6        ドライフィルムフォトレジスト   140
8.7        はんだレジスト   142
8.8        めっきおよびデスミア処理用薬品     143
8.9        表面仕上げ用薬品    146
8.10     材料間の比較概要      148
 
9             無機およびハイブリッドコア           152
9.1        ガラスコア基板              153
9.2        シリコンコア基板            154
9.3        セラミックおよびガラスセラミックコア   154
9.4        コアの移行が材料に及ぼす影響               156
9.5        代替シナリオと有機材料の需要への影響  157
 
10          地域別分析                160
10.1     中国  161
10.2     日本  161
10.3     韓国   162
10.4     台湾 163
10.5     米国      163
10.6     ヨーロッパ                164
10.7     東南アジア             164
10.8     地域間の概要と貿易収支             166
 
11          サプライチェーン、集中度、およびリスク         168
11.1     バリューチェーンのマッピング 168
11.2     材料分類別の集中度分析   170
11.3     単一供給源および二重供給源によるリスクの定量化           172
11.4     チップ設計者およびOEMによる上流工程への委託  174
11.5     輸出規制、貿易措置、および関税リスク           175
11.6     上流工程における原材料の投入            176
11.7     供給途絶シナリオおよび供給途絶コストのモデリング   176
11.8     在庫、配分、およびリードタイムの挙動         178
 
12          競争環境およびサプライヤー環境               180
12.1     サプライヤー環境の概要              180
12.2     マルチマテリアル大手企業              180
12.3     地域を代表する企業 181
12.4     素材別・地域別のシェア状況        182
12.5     生産能力投資の推移                182
12.6     提携、合弁事業、および買収 184
12.7     新規参入企業の評価      185
 
13          持続可能性と規制              186
13.1     基板材料における PFAS への曝露           186
13.2     ハロゲンフリー、RoHS および REACH への準拠           189
13.3     銅および貴金属の回収             189
13.4     基板製造における埋め込み炭素            190
13.5     規制の展望     191
 
14          企業概要                192
14.1     積層誘電体フィルム            193 (12社の企業概要)
14.2     銅張積層板およびプリプレグ 203 (17 社の企業プロフィール)
14.3     ガラスクロスおよびガラス糸    220 (7 社の企業プロフィール)
14.4     フィラー  227 (4 社の企業プロフィール)
14.5     銅箔      231 (15社の企業プロフィール)
14.6     ドライフィルムおよびソルダーレジスト       244 (7社の企業プロフィール)
14.7     めっき、デスミア、表面仕上げ用化学薬品       250 (11 社の企業プロフィール)
14.8     基板メーカー      261 (26 社の企業プロフィール)
14.9     ガラスコア基板およびその他の企業            289 (34 社の企業プロフィール)
 
15          付録  332
15.1     用語集および略語 332
15.2     材料仕様の参照表        333
15.3     換算係数および面密度の仮定             334
15.4     基板メーカーの生産能力表        335
15.5     調査方法論           337
 
16          参考文献 338

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図表リスト

List of Tables

  • Table 1. Headline market summary: volume, value and CAGR by material class             27
  • Table 2. Material demand 2027–2037, tonnes and m²        28
  • Table 3. Material demand by region 2027–2037     29
  • Table 4. Concentration summary by material class             30
  • Table 5. Indexed growth, 2027 = 100              32
  • Table 6. Material class definitions, forecast units and scope boundaries             35
  • Table 7. Region definitions and demand allocation rules  36
  • Table 8. Build-up film grade families and property bands 37
  • Table 9. CCL grade classes by loss tangent               38
  • Table 10. Glass cloth grades and IPC-4412 style classification    38
  • Table 11. Glass composition classes             38
  • Table 12. Copper foil profile classes and applications       39
  • Table 13. Dry film resist resolution classes 39
  • Table 14. Substrate platform definitions and material implications          41
  • Table 15. AI accelerator package and substrate dimensions         43
  • Table 16. Body size and layer count by application               43
  • Table 17. Build-up layer count series by application, layers per side        44
  • Table 18. Line/space roadmap and material requirement consequences             45
  • Table 19. Line/space capability and via formation by process generation             46
  • Table 20. Panel formats and utilisation factors by body size class             48
  • Table 21. Substrate area and panel consumption at representative body sizes 48
  • Table 22. Compound stack yield by per-layer yield and layer count (core yield 98%)     50
  • Table 23. Line yield assumptions by platform, layer count and process generation        51
  • Table 24. Scrap recovery by material class 51
  • Table 25. Announced substrate capacity investment programmes           52
  • Table 26. Substrate capacity by region          53
  • Table 27. Announced substrate capex programmes            54
  • Table 28. Aggregate investment by tier          55
  • Table 29. Qualification cycle durations by material class 56
  • Table 30. Derivation of accelerator units from packaging wafer supply   58
  • Table 31. AI accelerator shipments and substrate area consumption     58
  • Table 32. Accelerator shipments by product class               60
  • Table 33. HBM contribution to package area            60
  • Table 34. HBM generation and interconnect requirements              61
  • Table 35. HBM generation, stack construction and package consequence          62
  • Table 36. Substrate area consequences of chiplet partitioning    63
  • Table 37. Package area and material consequence by partitioning approach    64
  • Table 38. Co-packaged optics substrate requirements against organic capability          65
  • Table 39. Server CPU and networking ASIC substrate parameters             66
  • Table 40. Substrate area by application, 2027 and 2037   67
  • Table 41. Dielectric attenuation at PAM4 Nyquist frequencies, dB per inch         68
  • Table 42. Material grade requirements by per-lane data rate          69
  • Table 43. Scenario definitions, varied inputs and quantified effect            70
  • Table 44. Conversion chain, stage by stage               71
  • Table 45. Substrates per device by application       72
  • Table 46. Layer multipliers by material class, for a substrate with n build-up layers per side   72
  • Table 47. Areal density and thickness assumptions by material class and grade             74
  • Table 48. Plating allowance and etch loss by line/space class      76
  • Table 49.Worked copper accounting, 120 × 120 mm substrate, 16 build-up layers per side     76
  • Table 50. Copper accounting, 120 × 120 mm substrate, 16 build-up layers per side      77
  • Table 51. Combined yield, scrap and utilisation factors    78
  • Table 52. Supporting detail: compound stack yield by per-layer yield and layer count, core yield 98%                79
  • Table 53. Supporting detail: scrap recovery by material class       79
  • Table 54. Panel utilisation by format and body size              79
  • Table 55. Utilisation statistics by band and format               80
  • Table 56. Purchased area penalty at representative body sizes, 510 × 515 mm panel   80
  • Table 57. Price series requirements and pass-through mechanics by material class    81
  • Table 58. Material-to-process mapping matrix        83
  • Table 59. Consumption basis and scaling by process step             84
  • Table 60. Consumption basis by process step         85
  • Table 61. Material-to-platform mapping matrix       85
  • Table 62. Relative material consumption index by platform, flip-chip BGA base case = 100    86
  • Table 63. Material class segmentation and demand anchors        87
  • Table 64. Primary applications by material grade  87
  • Table 65. Material composition per substrate, consumed basis 88
  • Table 66. Substrate cost breakdown by material class       89
  • Table 67. Total material volume 2027–2037              91
  • Table 68. Total material value 2027–2037  91
  • Table 69. Total material value 2027–2037, US$ million      91
  • Table 70. Volume forecast by material class             93
  • Table 71. Value forecast by material class  94
  • Table 72. Forecast by substrate platform    95
  • Table 73. Forecast by application     95
  • Table 74. Forecast by region 96
  • Table 75. ASP trajectories by material class              97
  • Table 76. Scenario comparison against base case               99
  • Table 77. Supplied construction and material accounting              103
  • Table 78. ABF grade properties: Dk, Df, CTE, Tg, filler loading        104
  • Table 79. Dielectric property targets by data rate   105
  • Table 80. Filler requirements by film class and line/space capability       106
  • Table 81. Process parameters and constraints       107
  • Table 82. Resin-coated copper construction            110
  • Table 83. Build-up film challengers: company, product, qualification status      111
  • Table 84. Qualification stages and duration              112
  • Table 85. Build-up film capacity by supplier and site           113
  • Table 86. Build-up film single-source exposure       113
  • Table 87. Core construction parameters     116
  • Table 88. Low-loss CCL grades by supplier                118
  • Table 89. CCL supplier capacity by region  120
  • Table 90. CCL and prepreg demand forecast            120
  • Table 91. Ultra low loss segment within the class, US$ million     120
  • Table 92. Glass cloth areal mass and thickness by style   122
  • Table 93. Low-Dk and low-Df glass compositions by supplier       124
  • Table 94. Low-CTE glass grades and target applications  125
  • Table 95. Ultra-thin cloth specifications      126
  • Table 96. Glass cloth supplier capacity by grade   127
  • Table 97. Constrained grade supply assessment  128
  • Table 98. Glass cloth demand forecast by grade    129
  • Table 99. Filler types, particle size and loading by application      130
  • Table 100. Filler supplier landscape and capacity 132
  • Table 101. Filler demand forecast    132
  • Table 102. Copper foil thickness ranges and profile classes by application         134
  • Table 103. Carrier foil constructions and release layer types         134
  • Table 104. Copper skin depth and roughness ratio by frequency 136
  • Table 105. Copper foil capacity allocation, substrate versus battery        137
  • Table 106. Copper foil demand forecast, tonnes   138
  • Table 107. Resist resolution capability by supplier               140
  • Table 108. Dry film resist demand forecast                142
  • Table 109. Solder resist demand forecast   142
  • Table 110. Chemistry consumption per panel by process step    144
  • Table 111. Plating chemistry supplier landscape   145
  • Table 112. Plating chemistry demand forecast        145
  • Table 113. Surface finish types: process, thickness, precious metal content     146
  • Table 114. Gold and palladium consumption forecast       147
  • Table 115. Cross-material summary: volume, value, CAGR, concentration         148
  • Table 116. Quadrant assessment    150
  • Table 117. Aggregate versus constrained-grade divergence            151
  • Table 118. Mass and value ranking compared         151
  • Table 119. Glass core position summary    153
  • Table 120.Silicon core assessment 154
  • Table 121. Ceramic core assessment           155
  • Table 122. Material displacement per m² of non-organic core      156
  • Table 123.Non-organic core substitution scenarios            157
  • Table 124. Displacement by material class under accelerated adoption, 2037 158
  • Table 125. China position summary               161
  • Table 126. Japan position summary               161
  • Table 127. Korea position summary               162
  • Table 128. Taiwan position summary             163
  • Table 129. USA position summary   163
  • Table 130. Europe position summary            164
  • Table 131. Southeast Asia position summary          165
  • Table 132. Regional demand by material class 2027–2037, US$ million (2037) 165
  • Table 133. Production capacity versus demand balance by region            166
  • Table 134. Value chain tiers and participant counts            169
  • Table 135. Concentration ratios (CR3, CR5, HHI) by material class           170
  • Table 136. Single-source exposure by material class          172
  • Table 137. Direct material agreements between OEMs and material suppliers 174
  • Table 138.        Export controls, trade measures and tariff exposure           175
  • Table 139. Upstream input assessment      176
  • Table 140. Lead times by material class      178
  • Table 141. Supplier landscape structure     180
  • Table 142. Multi-material supplier positions by class         180
  • Table 143. Regional champion positions    181
  • Table 144. Supplier share positions by material class and region, constrained grade   182
  • Table 145. Capacity investment tracker 2024–2030            182
  • Table 146. Investment ratio, substrate manufacture versus substrate materials              183
  • Table 147. Partnerships, JVs and acquisitions 2024–2026              184
  • Table 148. New entrant assessment matrix               185
  • Table 149. PFAS exposure by material class              187
  • Table 150.Regulatory instrument coverage                189
  • Table 151. Recovery rates by material stream          189
  • Table 152. Embodied carbon by material class       190
  • Table 153. Regulatory trajectory and material implications            191
  • Table 154. Glossary and abbreviations         332
  • Table 155. Consolidated material specification reference               333
  • Table 156. Consolidated conversion factors             334
  • Table 157. Substrate manufacturer capacity, full detail     336
  • Table 158. Regional capacity share 336

 

List of Figures

  • Figure 1. The advanced IC substrate materials stack, exploded cross-section Source: Future Markets.                24
  • Figure 2. Material classes mapped to substrate cross-section Source: Future Markets.             25
  • Figure 3. Market value by material class 2027–2037 Source: Future Markets.    28
  • Figure 4. Market value by region 2027–2037 Source: Future Markets.      29
  • Figure 5. Concentration heat map Source: Future Markets.           30
  • Figure 6. Material demand growth versus substrate area growth, indexed Source: Future Markets.    31
  • Figure 7. Substrate platform cross-sections compared     40
  • Figure 8. Body size growth by application    43
  • Figure 9. Layer count growth by application              44
  • Figure 10. Line/space class adoption timeline, 2024–2037            46
  • Figure 11. Panel utilisation versus body size             47
  • Figure 12. Compound stack yield as a function of build-up layer count and per-layer yield      49
  • Figure 13. Substrate capacity share by region          52
  • Figure 14. Material qualification cycle, illustrative timeline             55
  • Figure 15. AI accelerator shipments and substrate area   58
  • Figure 16. HBM stack height evolution          61
  • Figure 17. Package area growth attributable to chiplet adoption 63
  • Figure 18. Dielectric attenuation versus frequency by laminate loss class           67
  • Figure 19. Five-stage forecast model schematic    70
  • Figure 20. Layer multiplier logic by material class 72
  • Figure 21. Build-up film composite density versus silica filler loading    74
  • Figure 22. Copper mass: deposited, etched and retained               76
  • Figure 23. Panel format sensitivity, tornado chart  80
  • Figure 24. Substrate process flow with material consumption points      84
  • Figure 25. Material mass breakdown for the reference substrate 87
  • Figure 26. Substrate cost breakdown, representative AI accelerator substrate  89
  • Figure 27. Total material volume, stacked by class               91
  • Figure 28. Total material value, stacked by class   92
  • Figure 29. Volume CAGR by material class 93
  • Figure 30. Regional demand shares, 2027 versus 2037     96
  • Figure 31. ASP trajectories indexed to 2027              97
  • Figure 32. Scenario fan chart, total market value   99
  • Figure 33. ABF cross-section construction 102
  • Figure 34. GX to GL series: filler loading, CTE and Dk trends          104
  • Figure 35. Vacuum lamination process flow             106
  • Figure 36. Melt viscosity versus temperature            107
  • Figure 37. ABF-RCC construction and process flow            109
  • Figure 38. Challenger qualification status timeline              111
  • Figure 39. Build-up film demand 2027–2037           114
  • Figure 40. CCL construction cross-section                115
  • Figure 41. Loss tangent by resin system       117
  • Figure 42. CCL demand 2027–2037 120
  • Figure 43. Weave constructions compared Source: Future Markets.       122
  • Figure 44. Areal mass versus thickness by style Source: Future Markets.             122
  • Figure 45. Dk versus glass composition Source: Future Markets.               124
  • Figure 46. Spread-yarn processing schematic Source: Future Markets. 126
  • Figure 47. Glass cloth demand by grade 2027–2037 Source: Future Markets.    128
  • Figure 48. Filler particle size distributions by grade Source: Future Markets.      130
  • Figure 49. Filler demand 2027–2037 Source: Future Markets.       132
  • Figure 50. Profile classes: surface roughness compared Source: Future Markets.          133
  • Figure 51. Carrier foil construction and release Source: Future Markets.              134
  • Figure 52. Roughness versus insertion loss Source: Future Markets.       135
  • Figure 53. Capacity allocation by supplier Source: Future Markets.          137
  • Figure 54. Copper foil demand 2027–2037 Source: Future Markets.         138
  • Figure 55. Resolution capability versus line/space requirement Source: Future Markets.          140
  • Figure 56. Plating process flow and chemistry consumption points Source: Future Markets.  144
  • Figure 57. Plating chemistry demand 2027–2037 Source: Future Markets.          145
  • Figure 58. Surface finish cross-sections compared             146
  • Figure 59. Precious metal consumption 2027–2037 Source: Future Markets.    147
  • Figure 60. Cross-material growth and concentration Source: Future Markets.  149
  • Figure 61. Multilayer ceramic core substrate for advanced semiconductor packaging 154
  • Figure 62. 2.5D integration warpage comparison and simulation model                154
  • Figure 63. Organic material displacement under three adoption scenarios Source: Future Markets. 157
  • Figure 64. Displacement by material class under accelerated adoption Source: Future Markets.        158
  • Figure 65. Regional demand by material class        165
  • Figure 66. Production versus demand balance       166
  • Figure 67. Value chain map, tier by tier         168
  • Figure 68. Concentration ratios by material class 170
  • Figure 69. Single-source exposure map       172
  • Figure 70. Export control exposure by value chain node Source: Future Markets.            175
  • Figure 71. Disruption scenario impact Source: Future Markets.  176
  • Figure 72. Capacity investment by region and material class Source: Future Markets. 182
  • Figure 73. PFAS exposure across the materials stack Source: Future Markets. 187
  • Figure 74. Absolics' glass substrate 289
  • Figure 75. Glass substrate test units at Intel’s Assembly and Test Technology Development factory. 304
  • Figure 76. JNTC Next-Generation Glass Substrate for Semiconductors. 307

 

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Summary

Advanced IC Substrates Market Report 2027-2037

Advanced IC substrate materials form the physical foundation of AI hardware, and the market has moved from mature commodity supply to acute constraint within a single product cycle. The nine material classes consumed in substrate manufacture — build-up dielectric film, copper-clad laminate and prepreg, glass cloth reinforcement, fillers, copper foil, dry film photoresist, solder resist, plating and desmear chemistries, and surface finish chemistries. Growth substantially outpaces the substrate market it supplies. 

Recent developments have reshaped the supply picture. Ibiden committed ¥500 billion over three years from FY2026 alongside a US$1.2 billion Arizona facility; AT&S secured €1.5 to 2.0 billion for Kulim expansion financed entirely by AMD and one further customer; Unimicron set 2026 capital expenditure above NT$25 billion. Combined announced substrate investment exceeds US$12.9 billion against approximately US$1.55 billion directed at the materials that supply it — a ratio of more than eight to one that sustains material tightness even as substrate tightness eases.

Concentration is the defining structural feature. Substitution pressure is intensifying. Kyocera commercialised a multilayer ceramic core substrate in April 2026, and Samsung Electro-Mechanics formed a glass substrate joint venture with Sumitomo Chemical targeting production in early 2027, joining Unimicron's stake in the Corning pilot. Non-organic core adoption at accelerated rates would remove 32 per cent of laminate and glass cloth demand by 2037 while leaving build-up film reduced by 16 per cent and plating chemistry higher.

The Global Advanced IC Substrates Market 2027–2037 forecasts consumption of the materials used to manufacture advanced IC substrates, expressed in the units in which those materials are produced, sold and capacity-planned: tonnes, square metres and litres. It is not a study of substrates. Substrate production is the input; material consumption is the output. Existing substrate market studies forecast substrate units and revenue, serving package designers, OSATs and fabless companies. Material input is treated as a modelling assumption and is not disclosed. For producers of build-up film, copper foil, glass cloth, fillers and plating chemistry, that assumption constitutes the entire addressable market. This report makes it the subject.

Coverage spans nine material classes and seven regions, with demand allocated to the region of substrate manufacture. Six scenarios test AI capex slowdown, accelerated glass core adoption, supply disruption, rapid Chinese localisation and panel format transition.

Contents include:

  • Market size and forecasts 2027–2037 in tonnes, square metres and US dollars, by material class, substrate platform, application and region
  • Five-stage forecast methodology with full conversion factor disclosure and areal density tables
  • Layer multipliers by material class, and the resulting divergence between classes growing at 12 per cent and those growing at 4.7 per cent
  • Panel utilisation geometry, computed for 510 × 515 mm and 730 × 920 mm formats across the body size range
  • Compound stack yield modelling by per-layer yield and layer count
  • Signal integrity roadmap to 224G and 448G, with dielectric attenuation computed by laminate loss class
  • Material-by-material analysis: grades, specifications, supplier landscapes, capacity, qualification cycles and demand forecasts
  • Non-organic core substitution: glass and ceramic, with material displacement quantified per square metre
  • Concentration analysis with CR1, CR3, CR5 and HHI by class; single-source exposure and disruption cost modelling
  • Regional production versus consumption balance and trade exposure
  • PFAS exposure, recovery rates and embodied carbon by material class
  • 116 company profiles including 3D Glass Solutions, Absolics, Admatechs, Advanced Chip and Circuit Materials, Advanced Semiconductor Engineering (ASE), Aeluma, AGY Holding, Ajinomoto Co., Ajinomoto Fine-Techno, AKM Meadville, Alliance Material, AMD, Asahi Kasei, AT&S, Baotek Industrial Materials, BOE Technology, Chang Chun Group, Chang Chun Petrochemical, Chemtronics, Chongqing Polycomp, Circuit Foil Luxembourg, Co-Tech Development, Coherent, Compeq Manufacturing, Corning, Daeduck Electronics, Dai Nippon Printing, Denka, Doosan Corporation, Doosan Corporation Electro-Materials, DuPont Electronics / Qnity, Elite Material, Eternal Materials, Fastprint Circuit Tech, FICT, Fujikura, Fukuda Metal Foil & Powder, Furukawa Electric, FusionAP, Goldenmax International, Grace Fabric Technology, Haesung DS, Ibiden, Intel, Isola Group, ITEQ Corporation, Itera, JCET, JCU Corporation, Jiujiang Defu Technology, JNTC, Jushi Group, JX Advanced Metals, KCC Corporation, Kingboard Laminates, Kinsus Interconnect, Kinwong Electronic, Kyocera, Lens Technology, LG Chem, LG Innotek, Lotte Energy Materials, LPKF Laser & Electronics, MacDermid Alpha, Meiko Electronics, Mitsubishi Chemical and more.....


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Table of Contents

1             EXECUTIVE SUMMARY            24
1.1        Scope and headline definitions         24
1.2        The substrate materials stack            24
1.3        Key findings    26
1.4        Market size, growth and CAGR summary    27
1.5        Headline forecasts by material class             28
1.6        Headline forecasts by region               29
1.7        Supply concentration at a glance     30
1.8        The utilisation asymmetry: why material demand outgrows substrate area        31
1.9        Strategic implications for suppliers 33
1.10     Strategic implications for buyers      33
 
2             INTRODUCTION AND SCOPE             34
2.1        Report objectives        35
2.2        Product scope: the nine material classes   35
2.3        Geographic scope: the seven regions            36
2.4        Grade and specification definitions               37
2.4.1    Build-up film grade families 37
2.4.2    CCL loss-tangent classes     37
2.4.3    Glass cloth dielectric grades and weave styles       38
2.4.4    Copper foil profile classes    38
2.4.5    Dry film resist resolution classes     39
2.5        Units, conventions and abbreviations           39
 
3             THE ADVANCED IC SUBSTRATE DEMAND BASE     40
3.1        Substrate platforms in scope              41
3.1.1    Flip-chip BGA and build-up substrates         41
3.1.2    Substrate-like PCB (SLP)        42
3.1.3    Embedded die substrates     42
3.1.4    Coreless and substrate-less architectures (CoWoP)          42
3.1.5    Non-organic cores      42
3.2        Substrate area as the demand unit 42
3.2.1    Body size trends by application         43
3.2.2    Build-up layer count trends  44
3.2.3    Line/space roadmap and material implications     45
3.3.1    Strip, panel and large-panel processing      47
3.3.2    Panel utilisation and edge loss          47
3.3.3    Yield assumptions by platform           49
3.3        Panel formats and utilisation              47
3.4        Substrate production capacity outlook 2025–2037             52
3.5        Substrate manufacturer landscape 54
3.6        Material qualification practice and cycle times      55
 
4             DEMAND DRIVERS     57
4.1        AI accelerator and GPU shipments 58
4.2        HBM stack height and memory substrate demand               60
4.3        Chiplet adoption and package area growth               63
4.4        Co-packaged optics and photonic substrates         65
4.5        Server CPU and networking ASICs   66
4.6        Mobile and consumer              66
4.7        Automotive and industrial     67
4.8        Aerospace and defence          67
4.9        Signal integrity roadmap: 224G, 448G and material consequences          68
4.10     Demand scenario definitions             69
 
5             FORECAST METHODOLOGY               71
5.1        Model architecture     71
5.2        Device shipments to substrate area               72
5.3        Substrate area to layer area 72
5.4        Layer area to material mass: areal density and thickness               74
5.5        Copper thickness, plating allowance and etch loss             75
5.6        Yield, scrap and utilisation factors  77
5.7        Panel-format sensitivity          79
5.8        Price modelling and ASP erosion      81
5.9        Top-down reconciliation against supplier segment reporting        82
 
6             MATERIAL SEGMENTATION  82
6.1        Material-to-process mapping             83
6.2        Material-to-platform mapping            85
6.3        Segment definitions and primary applications        86
6.4        Cost breakdown of a representative advanced substrate 88
 
7             GLOBAL MARKET SIZE AND FORECAST 2027–2037            91
7.1        Total market volume and value          91
7.2        Forecast by material class    93
7.3        Forecast by substrate platform          95
7.4        Forecast by application          95
7.5        Forecast by region      96
7.6        Price forecasts and ASP trajectories              97
7.7        Scenario analysis       99
7.7.1    AI capex slowdown    100
7.7.2    Accelerated glass core adoption      100
7.7.3    Supply disruption       101
7.7.4    Rapid Chinese localisation  101
 
8             MATERIAL-BY-MATERIAL ANALYSIS  102
8.1        Build-up dielectric films         102
8.1.1    Function and requirements  102
8.1.2    ABF construction: resin, carrier and cover sheet   102
8.1.3    GX to GL series evolution and filler loading               104
8.1.4    Dk/Df targets for 224G and beyond 105
8.1.5    CTE, warpage and dimensional stability      106
8.1.6    Filler chemistry, loading and particle size   106
8.1.7    Lamination and cure process windows        107
8.1.8    Desmear compatibility and copper adhesion          109
8.1.9    ABF-RCC and resin-coated variants               109
8.1.10 Challenger films: Japan, USA, China, Korea              110
8.1.11 Qualification barriers and switching costs 112
8.1.12 Capacity, expansion and lead times               113
8.1.13 Single-source dependency quantified          113
8.1.14 Demand forecast 2027–2037             114
8.2        Copper-clad laminate and prepreg 116
8.2.1    Construction and grades       116
8.2.2    BT resin systems          117
8.2.3    Epoxy and modified epoxy     117
8.2.4    Low-loss and ultra-low-loss systems            117
8.2.5    Halogen-free reformulation  119
8.2.6    Thin-core and coreless processing 119
8.2.7    Supplier landscape and capacity     120
8.2.8    Demand forecast 2027–2037             120
8.3.1    Styles and weave constructions       122
8.3.2    Low-Dk and low-Df compositions   124
8.3.3    Low-CTE and high-modulus: T-glass              125
8.3.4    Ultra-thin and spread-yarn fabrics  126
8.3.5    The low-Dk and low-CTE bottleneck quantified      127
8.3.6    Chinese localisation programmes  128
8.3.7    Demand forecast 2027–2037 by grade         128
8.4.1    Silica, alumina and specialty fillers 130
8.4.2    Particle size distribution and surface treatment     130
8.4.3    Supplier landscape   132
8.4.4    Demand forecast 2027–2037             132
8.5.1    Electrodeposited versus rolled annealed   133
8.5.2    Low-profile, VLP and HVLP grades  134
8.5.3    Carrier foil constructions and release layer chemistry       134
8.5.4    Roughness versus insertion loss trade-off 136
8.5.5    Capacity competition with battery copper foil        137
8.5.6    Copper price exposure and pass-through  138
8.5.7    Demand forecast 2027–2037             138
8.6.1    Resolution requirements by line/space node           140
8.6.2    Supplier landscape   141
8.6.3    Demand forecast 2027–2037             142
8.7.1    Formulation and requirements          142
8.7.2    Supplier landscape   142
8.7.3    Demand forecast 2027–2037             142
8.8.1    Desmear and permanganate systems          143
8.8.2    Electroless copper     143
8.8.3    Electrolytic copper, additives and levellers                143
8.8.4    Via fill and through-glass-via metallisation 144
8.8.5    Overlap with fab wet chemistry supply         145
8.8.6    Demand forecast 2027–2037             145
8.9.1    ENIG, ENEPIG, OSP and alternatives              146
8.9.2    Gold and palladium consumption   147
8.9.3    Demand forecast 2027–2037             148
8.3        Glass cloth reinforcement     122
8.4        Fillers  130
8.5        Copper foil      133
8.6        Dry film photoresist   140
8.7        Solder resist   142
8.8        Plating and desmear chemistries     143
8.9        Surface finish chemistries    146
8.10     Cross-material summary      148
 
9             NON-ORGANIC AND HYBRID CORES           152
9.1        Glass core substrates              153
9.2        Silicon core substrates            154
9.3        Ceramic and glass-ceramic cores   154
9.4        Material implications of the core transition               156
9.5        Substitution scenarios and effect on organic material demand  157
 
10          REGIONAL ANALYSIS                160
10.1     China  161
10.2     Japan  161
10.3     Korea   162
10.4     Taiwan 163
10.5     USA      163
10.6     Europe                164
10.7     Southeast Asia             164
10.8     Cross-regional summary and trade balance             166
 
11          SUPPLY CHAIN, CONCENTRATION AND RISK         168
11.1     Value chain mapped 168
11.2     Concentration analysis by material class   170
11.3     Single-source and dual-source exposure quantified           172
11.4     Chip designers and OEMs contracting upstream  174
11.5     Export controls, trade measures and tariff exposure           175
11.6     Upstream raw material inputs            176
11.7     Disruption scenarios and cost-of-disruption modelling   176
11.8     Inventory, allocation and lead-time behaviour         178
 
12          COMPETITIVE AND SUPPLIER LANDSCAPE               180
12.1     Supplier landscape overview              180
12.2     Multi-material majors              180
12.3     Regional champions 181
12.4     Share positions by material and region        182
12.5     Capacity investment tracker                182
12.6     Partnerships, JVs and acquisitions 184
12.7     New entrant assessment      185
 
13          SUSTAINABILITY AND REGULATORY              186
13.1     PFAS exposure in substrate materials           186
13.2     Halogen-free, RoHS and REACH compliance           189
13.3     Copper and precious metal recovery             189
13.4     Embodied carbon in substrate manufacture            190
13.5     Regulatory outlook     191
 
14          COMPANY PROFILES                192
14.1     Build-up dielectric film            193 (12 company profiles)
14.2     Copper-clad laminate and prepreg 203 (17 company profiles)
14.3     Glass cloth and glass yarn    220 (7 company profiles)
14.4     Fillers  227 (4 company profiles)
14.5     Copper foil      231 (15 company profiles)
14.6     Dry film and solder resist       244 (7 company profiles)
14.7     Plating, desmear and surface finish chemistry       250 (11 company profiles)
14.8     Substrate manufacturers      261 (26 company profiles)
14.9     Glass core substrates and other companies            289 (34 company profiles)
 
15          APPENDICES  332
15.1     Glossary and abbreviations 332
15.2     Material specification reference tables        333
15.3     Conversion factors and areal density assumptions             334
15.4     Substrate manufacturer capacity table        335
15.5     Research methodology           337
 
16          REFERENCES 338

 

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List of Tables/Graphs

List of Tables

  • Table 1. Headline market summary: volume, value and CAGR by material class             27
  • Table 2. Material demand 2027–2037, tonnes and m²        28
  • Table 3. Material demand by region 2027–2037     29
  • Table 4. Concentration summary by material class             30
  • Table 5. Indexed growth, 2027 = 100              32
  • Table 6. Material class definitions, forecast units and scope boundaries             35
  • Table 7. Region definitions and demand allocation rules  36
  • Table 8. Build-up film grade families and property bands 37
  • Table 9. CCL grade classes by loss tangent               38
  • Table 10. Glass cloth grades and IPC-4412 style classification    38
  • Table 11. Glass composition classes             38
  • Table 12. Copper foil profile classes and applications       39
  • Table 13. Dry film resist resolution classes 39
  • Table 14. Substrate platform definitions and material implications          41
  • Table 15. AI accelerator package and substrate dimensions         43
  • Table 16. Body size and layer count by application               43
  • Table 17. Build-up layer count series by application, layers per side        44
  • Table 18. Line/space roadmap and material requirement consequences             45
  • Table 19. Line/space capability and via formation by process generation             46
  • Table 20. Panel formats and utilisation factors by body size class             48
  • Table 21. Substrate area and panel consumption at representative body sizes 48
  • Table 22. Compound stack yield by per-layer yield and layer count (core yield 98%)     50
  • Table 23. Line yield assumptions by platform, layer count and process generation        51
  • Table 24. Scrap recovery by material class 51
  • Table 25. Announced substrate capacity investment programmes           52
  • Table 26. Substrate capacity by region          53
  • Table 27. Announced substrate capex programmes            54
  • Table 28. Aggregate investment by tier          55
  • Table 29. Qualification cycle durations by material class 56
  • Table 30. Derivation of accelerator units from packaging wafer supply   58
  • Table 31. AI accelerator shipments and substrate area consumption     58
  • Table 32. Accelerator shipments by product class               60
  • Table 33. HBM contribution to package area            60
  • Table 34. HBM generation and interconnect requirements              61
  • Table 35. HBM generation, stack construction and package consequence          62
  • Table 36. Substrate area consequences of chiplet partitioning    63
  • Table 37. Package area and material consequence by partitioning approach    64
  • Table 38. Co-packaged optics substrate requirements against organic capability          65
  • Table 39. Server CPU and networking ASIC substrate parameters             66
  • Table 40. Substrate area by application, 2027 and 2037   67
  • Table 41. Dielectric attenuation at PAM4 Nyquist frequencies, dB per inch         68
  • Table 42. Material grade requirements by per-lane data rate          69
  • Table 43. Scenario definitions, varied inputs and quantified effect            70
  • Table 44. Conversion chain, stage by stage               71
  • Table 45. Substrates per device by application       72
  • Table 46. Layer multipliers by material class, for a substrate with n build-up layers per side   72
  • Table 47. Areal density and thickness assumptions by material class and grade             74
  • Table 48. Plating allowance and etch loss by line/space class      76
  • Table 49.Worked copper accounting, 120 × 120 mm substrate, 16 build-up layers per side     76
  • Table 50. Copper accounting, 120 × 120 mm substrate, 16 build-up layers per side      77
  • Table 51. Combined yield, scrap and utilisation factors    78
  • Table 52. Supporting detail: compound stack yield by per-layer yield and layer count, core yield 98%                79
  • Table 53. Supporting detail: scrap recovery by material class       79
  • Table 54. Panel utilisation by format and body size              79
  • Table 55. Utilisation statistics by band and format               80
  • Table 56. Purchased area penalty at representative body sizes, 510 × 515 mm panel   80
  • Table 57. Price series requirements and pass-through mechanics by material class    81
  • Table 58. Material-to-process mapping matrix        83
  • Table 59. Consumption basis and scaling by process step             84
  • Table 60. Consumption basis by process step         85
  • Table 61. Material-to-platform mapping matrix       85
  • Table 62. Relative material consumption index by platform, flip-chip BGA base case = 100    86
  • Table 63. Material class segmentation and demand anchors        87
  • Table 64. Primary applications by material grade  87
  • Table 65. Material composition per substrate, consumed basis 88
  • Table 66. Substrate cost breakdown by material class       89
  • Table 67. Total material volume 2027–2037              91
  • Table 68. Total material value 2027–2037  91
  • Table 69. Total material value 2027–2037, US$ million      91
  • Table 70. Volume forecast by material class             93
  • Table 71. Value forecast by material class  94
  • Table 72. Forecast by substrate platform    95
  • Table 73. Forecast by application     95
  • Table 74. Forecast by region 96
  • Table 75. ASP trajectories by material class              97
  • Table 76. Scenario comparison against base case               99
  • Table 77. Supplied construction and material accounting              103
  • Table 78. ABF grade properties: Dk, Df, CTE, Tg, filler loading        104
  • Table 79. Dielectric property targets by data rate   105
  • Table 80. Filler requirements by film class and line/space capability       106
  • Table 81. Process parameters and constraints       107
  • Table 82. Resin-coated copper construction            110
  • Table 83. Build-up film challengers: company, product, qualification status      111
  • Table 84. Qualification stages and duration              112
  • Table 85. Build-up film capacity by supplier and site           113
  • Table 86. Build-up film single-source exposure       113
  • Table 87. Core construction parameters     116
  • Table 88. Low-loss CCL grades by supplier                118
  • Table 89. CCL supplier capacity by region  120
  • Table 90. CCL and prepreg demand forecast            120
  • Table 91. Ultra low loss segment within the class, US$ million     120
  • Table 92. Glass cloth areal mass and thickness by style   122
  • Table 93. Low-Dk and low-Df glass compositions by supplier       124
  • Table 94. Low-CTE glass grades and target applications  125
  • Table 95. Ultra-thin cloth specifications      126
  • Table 96. Glass cloth supplier capacity by grade   127
  • Table 97. Constrained grade supply assessment  128
  • Table 98. Glass cloth demand forecast by grade    129
  • Table 99. Filler types, particle size and loading by application      130
  • Table 100. Filler supplier landscape and capacity 132
  • Table 101. Filler demand forecast    132
  • Table 102. Copper foil thickness ranges and profile classes by application         134
  • Table 103. Carrier foil constructions and release layer types         134
  • Table 104. Copper skin depth and roughness ratio by frequency 136
  • Table 105. Copper foil capacity allocation, substrate versus battery        137
  • Table 106. Copper foil demand forecast, tonnes   138
  • Table 107. Resist resolution capability by supplier               140
  • Table 108. Dry film resist demand forecast                142
  • Table 109. Solder resist demand forecast   142
  • Table 110. Chemistry consumption per panel by process step    144
  • Table 111. Plating chemistry supplier landscape   145
  • Table 112. Plating chemistry demand forecast        145
  • Table 113. Surface finish types: process, thickness, precious metal content     146
  • Table 114. Gold and palladium consumption forecast       147
  • Table 115. Cross-material summary: volume, value, CAGR, concentration         148
  • Table 116. Quadrant assessment    150
  • Table 117. Aggregate versus constrained-grade divergence            151
  • Table 118. Mass and value ranking compared         151
  • Table 119. Glass core position summary    153
  • Table 120.Silicon core assessment 154
  • Table 121. Ceramic core assessment           155
  • Table 122. Material displacement per m² of non-organic core      156
  • Table 123.Non-organic core substitution scenarios            157
  • Table 124. Displacement by material class under accelerated adoption, 2037 158
  • Table 125. China position summary               161
  • Table 126. Japan position summary               161
  • Table 127. Korea position summary               162
  • Table 128. Taiwan position summary             163
  • Table 129. USA position summary   163
  • Table 130. Europe position summary            164
  • Table 131. Southeast Asia position summary          165
  • Table 132. Regional demand by material class 2027–2037, US$ million (2037) 165
  • Table 133. Production capacity versus demand balance by region            166
  • Table 134. Value chain tiers and participant counts            169
  • Table 135. Concentration ratios (CR3, CR5, HHI) by material class           170
  • Table 136. Single-source exposure by material class          172
  • Table 137. Direct material agreements between OEMs and material suppliers 174
  • Table 138.        Export controls, trade measures and tariff exposure           175
  • Table 139. Upstream input assessment      176
  • Table 140. Lead times by material class      178
  • Table 141. Supplier landscape structure     180
  • Table 142. Multi-material supplier positions by class         180
  • Table 143. Regional champion positions    181
  • Table 144. Supplier share positions by material class and region, constrained grade   182
  • Table 145. Capacity investment tracker 2024–2030            182
  • Table 146. Investment ratio, substrate manufacture versus substrate materials              183
  • Table 147. Partnerships, JVs and acquisitions 2024–2026              184
  • Table 148. New entrant assessment matrix               185
  • Table 149. PFAS exposure by material class              187
  • Table 150.Regulatory instrument coverage                189
  • Table 151. Recovery rates by material stream          189
  • Table 152. Embodied carbon by material class       190
  • Table 153. Regulatory trajectory and material implications            191
  • Table 154. Glossary and abbreviations         332
  • Table 155. Consolidated material specification reference               333
  • Table 156. Consolidated conversion factors             334
  • Table 157. Substrate manufacturer capacity, full detail     336
  • Table 158. Regional capacity share 336

 

List of Figures

  • Figure 1. The advanced IC substrate materials stack, exploded cross-section Source: Future Markets.                24
  • Figure 2. Material classes mapped to substrate cross-section Source: Future Markets.             25
  • Figure 3. Market value by material class 2027–2037 Source: Future Markets.    28
  • Figure 4. Market value by region 2027–2037 Source: Future Markets.      29
  • Figure 5. Concentration heat map Source: Future Markets.           30
  • Figure 6. Material demand growth versus substrate area growth, indexed Source: Future Markets.    31
  • Figure 7. Substrate platform cross-sections compared     40
  • Figure 8. Body size growth by application    43
  • Figure 9. Layer count growth by application              44
  • Figure 10. Line/space class adoption timeline, 2024–2037            46
  • Figure 11. Panel utilisation versus body size             47
  • Figure 12. Compound stack yield as a function of build-up layer count and per-layer yield      49
  • Figure 13. Substrate capacity share by region          52
  • Figure 14. Material qualification cycle, illustrative timeline             55
  • Figure 15. AI accelerator shipments and substrate area   58
  • Figure 16. HBM stack height evolution          61
  • Figure 17. Package area growth attributable to chiplet adoption 63
  • Figure 18. Dielectric attenuation versus frequency by laminate loss class           67
  • Figure 19. Five-stage forecast model schematic    70
  • Figure 20. Layer multiplier logic by material class 72
  • Figure 21. Build-up film composite density versus silica filler loading    74
  • Figure 22. Copper mass: deposited, etched and retained               76
  • Figure 23. Panel format sensitivity, tornado chart  80
  • Figure 24. Substrate process flow with material consumption points      84
  • Figure 25. Material mass breakdown for the reference substrate 87
  • Figure 26. Substrate cost breakdown, representative AI accelerator substrate  89
  • Figure 27. Total material volume, stacked by class               91
  • Figure 28. Total material value, stacked by class   92
  • Figure 29. Volume CAGR by material class 93
  • Figure 30. Regional demand shares, 2027 versus 2037     96
  • Figure 31. ASP trajectories indexed to 2027              97
  • Figure 32. Scenario fan chart, total market value   99
  • Figure 33. ABF cross-section construction 102
  • Figure 34. GX to GL series: filler loading, CTE and Dk trends          104
  • Figure 35. Vacuum lamination process flow             106
  • Figure 36. Melt viscosity versus temperature            107
  • Figure 37. ABF-RCC construction and process flow            109
  • Figure 38. Challenger qualification status timeline              111
  • Figure 39. Build-up film demand 2027–2037           114
  • Figure 40. CCL construction cross-section                115
  • Figure 41. Loss tangent by resin system       117
  • Figure 42. CCL demand 2027–2037 120
  • Figure 43. Weave constructions compared Source: Future Markets.       122
  • Figure 44. Areal mass versus thickness by style Source: Future Markets.             122
  • Figure 45. Dk versus glass composition Source: Future Markets.               124
  • Figure 46. Spread-yarn processing schematic Source: Future Markets. 126
  • Figure 47. Glass cloth demand by grade 2027–2037 Source: Future Markets.    128
  • Figure 48. Filler particle size distributions by grade Source: Future Markets.      130
  • Figure 49. Filler demand 2027–2037 Source: Future Markets.       132
  • Figure 50. Profile classes: surface roughness compared Source: Future Markets.          133
  • Figure 51. Carrier foil construction and release Source: Future Markets.              134
  • Figure 52. Roughness versus insertion loss Source: Future Markets.       135
  • Figure 53. Capacity allocation by supplier Source: Future Markets.          137
  • Figure 54. Copper foil demand 2027–2037 Source: Future Markets.         138
  • Figure 55. Resolution capability versus line/space requirement Source: Future Markets.          140
  • Figure 56. Plating process flow and chemistry consumption points Source: Future Markets.  144
  • Figure 57. Plating chemistry demand 2027–2037 Source: Future Markets.          145
  • Figure 58. Surface finish cross-sections compared             146
  • Figure 59. Precious metal consumption 2027–2037 Source: Future Markets.    147
  • Figure 60. Cross-material growth and concentration Source: Future Markets.  149
  • Figure 61. Multilayer ceramic core substrate for advanced semiconductor packaging 154
  • Figure 62. 2.5D integration warpage comparison and simulation model                154
  • Figure 63. Organic material displacement under three adoption scenarios Source: Future Markets. 157
  • Figure 64. Displacement by material class under accelerated adoption Source: Future Markets.        158
  • Figure 65. Regional demand by material class        165
  • Figure 66. Production versus demand balance       166
  • Figure 67. Value chain map, tier by tier         168
  • Figure 68. Concentration ratios by material class 170
  • Figure 69. Single-source exposure map       172
  • Figure 70. Export control exposure by value chain node Source: Future Markets.            175
  • Figure 71. Disruption scenario impact Source: Future Markets.  176
  • Figure 72. Capacity investment by region and material class Source: Future Markets. 182
  • Figure 73. PFAS exposure across the materials stack Source: Future Markets. 187
  • Figure 74. Absolics' glass substrate 289
  • Figure 75. Glass substrate test units at Intel’s Assembly and Test Technology Development factory. 304
  • Figure 76. JNTC Next-Generation Glass Substrate for Semiconductors. 307

 

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