Summary

Ajinomoto Build-up Film™ (ABF) is a film-type thermosetting interlayer insulating dielectric used to build high-density multilayer package substrates (typically FC-BGA / “ABF substrates”); its core product forms in industry practice include (i) dielectric film supplied for lamination in build-up stacks and (ii) adjacent supply formats and intermediates such as varnish-to-film manufacturing chains (varnish applied on carrier film) that underpin volume production and conversion. ABF’s dominant applications are PC and workstation processors, servers/data centers, network equipment, and increasingly AI/HPC platforms—i.e., packages where signal integrity, wiring density, and substrate reliability are critical. The current competitive landscape remains highly concentrated: Ajinomoto discloses >95% global share for insulating films used in high-performance semiconductors, while Ajinomoto Fine-Techno’s ABF page claims near-100% share in major PCs and positions ABF as the incumbent insulation film standard in that ecosystem. At the same time, the market is actively cultivating qualified alternatives in the same functional category (build-up dielectric films); for example, Sekisui markets thermosetting build-up dielectric films for FC-BGA, asserting SAP-line compatibility and adoption by major substrate suppliers (Japan/Taiwan) with OSAT assembly experience—illustrating that “second-source” development is technically and commercially underway even if the incumbent remains dominant.
Industry trends and demand drivers are increasingly defined by AI/HPC-led substrate complexity and throughput rather than legacy PC-only growth. Ajinomoto’s ICT briefing explicitly ties ABF demand to telecommunications and information infrastructure growth (servers, data centers, networks), and quantifies the key structural driver as ABF intensity per substrate rising sharply: a representative comparison shows PC substrates using 6 ABF layers versus HPC substrates using 18 ABF layers, with larger substrate surface area (index 3.5) and an implication of >10× ABF usage per high-performance CPU substrate—a “double effect” of more units plus higher material per unit. On the technology side, the roadmap focuses on lower dielectric loss (Df) for higher-speed signaling, alongside warpage control, crack resistance, and manufacturability for finer line/space in SAP build-up; Sekisui’s development messaging explicitly references lowering Df to meet 224Gb Ethernet switch needs and beyond, reflecting where next-generation electrical requirements are headed. Supply-side responses therefore center on capacity assurance, qualification throughput, and multi-source risk mitigation: the incumbent leverages its de facto standard position (and long qualification history since first commercialization) while expanding and hardening supply chains, and challengers pursue SAP-compatible, low-loss build-up films to win incremental share through customer qualification programs in FC-BGA and adjacent advanced packaging nodes.
The global ABF (Ajinomoto Build-up Film) market size was US$ 514.07 million in 2024 and will reach US$ 1,069.09 million in 2032; it is expected to grow at a CAGR of 10.93% from 2026 to 2032.
The ABF (Ajinomoto Build-up Film) are mainly produced in Japan, about 98.66% ABF films are produced in Japan. In addition to Japan, China Taiwan and China mainland also produce small ABF films. Chiniese is expected to play an important role in the coming years.
Global key manufacturers of ABF (Ajinomoto Build-up Film) include Ajinomoto Fine-Techno, Sekisui Chemical Co., Ltd., WaferChem Technology Corporation, and Taiyo Ink, etc. Ajinomoto Fine-Techno is dominating the global ABF (Ajinomoto Build-up Film) market, with a share about 96.42 percent. In next few years, more companies are expected to enter ABF (Ajinomoto Build-up Film) market. Currently, potential entrants include Zhuhai Hongchang Electronic Materials, Xi'an Tianhe Defense Technology, LOTUS HOLDINGS, and Guangdong Hinnotech New Materials Technology.
In terms of ABF Film sales (consumption), China Taiwan, Japan, South Korea, China mainland and Southeast Asia are the key market, with market shares 41.88%, 27.13%, 10.99%, 13.91%, and 5.71% respectively. The global ABF substrates are mainly produced in these regions. In future, there regions will still dominate the global ABF substrates market. The global key manufacturers of ABF Substrate include Unimicron, Ibiden, Nan Ya PCB, Shinko Electric Industries, Kinsus Interconnect, AT&S, Semco, Kyocera, and TOPPAN, etc. In 2025, the global top seven players had a share approximately 91.86% in terms of revenue. Key end users are Intel, AMD, Nvidia, Apple, and Samsung, etc. In 2025, the key end users are heating up competition to win more capacity support from suppliers of ABF substrates needed to process their HPC chips through at least 2026. Almost all of ABF substrates manufacturers have plans to expand production capacity in next few years, and there also several companies have planned to enter to produce ABF substrates. The global competitive situation will be totally different after two or five years, filled with uncertainty.
This report aims to provide a comprehensive presentation of the global market for ABF (Ajinomoto Build-up Film), focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of ABF (Ajinomoto Build-up Film) by region & country, by Product, and by Application.
The ABF (Ajinomoto Build-up Film) market size, estimations, and forecasts are provided in terms of sales volume (K square meters) and sales revenue ($ millions), considering 2025 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding ABF (Ajinomoto Build-up Film).
Market Segmentation
By Company
 Ajinomoto Fine-Techno
 Sekisui Chemical Co., Ltd.
 WaferChem Technology Corporation
 Taiyo Ink
 Wuhan Sanxuan Technology
 Shenzhen EPS Technology
 Zhejiang Huazheng New Materials
 Shenzhen Newfield New Materials Technology
 Shengyi Technology
 Zhuhai Hongchang Electronic Materials
 Xi'an Tianhe Defense Technology
 LOTUS HOLDINGS
 Guangdong Hinnotech New Materials Technology

Segment by Product
 Df: Above 0.01
 Df: Below 0.01

Segment by Application
 PC
 Server/Data Center
 HPC/AI CHIP
 Communication
 Others

Production by Region
 Japan
 China Taiwan
 China Mainland

Sales/Consumption by Region
 Japan
 China Taiwan
 South Korea
 China Mainland
 Southeast Asia
 Others

Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of ABF (Ajinomoto Build-up Film) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Product, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of ABF (Ajinomoto Build-up Film) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of ABF (Ajinomoto Build-up Film) in country level. It provides sigmate data by Product, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

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Table of Contents

1 Market Overview 1
1.1 ABF (Ajinomoto Build-up Film) Product Introduction 1
1.2 Global ABF (Ajinomoto Build-up Film) Market Size Forecast 3
1.2.1 Global ABF (Ajinomoto Build-up Film) Sales Value (2021-2032) 3
1.2.2 Global ABF (Ajinomoto Build-up Film) Sales Volume (2021-2032) 5
1.2.3 Global ABF (Ajinomoto Build-up Film) Sales Price (2021-2032) 6
1.3 ABF (Ajinomoto Build-up Film) Market Trends & Drivers 6
1.3.1 ABF (Ajinomoto Build-up Film) Industry Trends 6
1.3.2 ABF (Ajinomoto Build-up Film) Market Drivers & Opportunity 8
1.3.3 ABF (Ajinomoto Build-up Film) Market Challenges 9
1.3.4 ABF (Ajinomoto Build-up Film) Market Restraints 10
1.4 Assumptions and Limitations 11
1.5 Study Objectives 12
1.6 Years Considered 13
2 Competitive Analysis by Company 14
2.1 Global ABF (Ajinomoto Build-up Film) Players Revenue Ranking (2025) 14
2.2 Global ABF (Ajinomoto Build-up Film) Revenue by Company (2021-2026) 15
2.3 Global ABF (Ajinomoto Build-up Film) Players Sales Volume Ranking (2025) 16
2.4 Global ABF (Ajinomoto Build-up Film) Sales Volume by Company Players (2021-2026) 17
2.5 Global ABF (Ajinomoto Build-up Film) Average Price by Company (2021-2026) 19
2.6 Key Manufacturers ABF (Ajinomoto Build-up Film) Manufacturing Base and Headquarters 20
2.7 Key Manufacturers ABF (Ajinomoto Build-up Film) Product Offered 20
2.8 Mergers & Acquisitions, Expansion 21
3 Segmentation by Product 23
3.1 Introduction by Product 23
3.1.1 Df: Above 0.01 23
3.1.2 Df: Below 0.01 23
3.2 Global ABF (Ajinomoto Build-up Film) Sales Value by Product 23
3.2.1 Global ABF (Ajinomoto Build-up Film) Sales Value by Product (2021 VS 2025 VS 2032) 24
3.2.2 Global ABF (Ajinomoto Build-up Film) Sales Value, by Product (2021-2032) 25
3.2.3 Global ABF (Ajinomoto Build-up Film) Sales Value, by Product (%) (2021-2032) 26
3.3 Global ABF (Ajinomoto Build-up Film) Sales Volume by Product 27
3.3.1 Global ABF (Ajinomoto Build-up Film) Sales Volume by Product (2021 VS 2025 VS 2032) 27
3.3.2 Global ABF (Ajinomoto Build-up Film) Sales Volume, by Product (2021-2032) 28
3.3.3 Global ABF (Ajinomoto Build-up Film) Sales Volume, by Product (%) (2021-2032) 29
3.4 Global ABF (Ajinomoto Build-up Film) Average Price by Product (2021-2032) 30
4 Segmentation by Application 32
4.1 Introduction by Application 32
4.1.1 PC 32
4.1.2 Server/Data Center 34
4.1.3 HPC/AI CHIP 35
4.1.4 Communication 36
4.1.5 Others 38
4.2 Global ABF (Ajinomoto Build-up Film) Sales Value by Application 38
4.2.1 Global ABF (Ajinomoto Build-up Film) Sales Value by Application (2021 VS 2025 VS 2032) 39
4.2.2 Global ABF (Ajinomoto Build-up Film) Sales Value, by Application (2021-2032) 40
4.2.3 Global ABF (Ajinomoto Build-up Film) Sales Value, by Application (%) (2021-2032) 41
4.3 Global ABF (Ajinomoto Build-up Film) Sales Volume by Application 43
4.3.1 Global ABF (Ajinomoto Build-up Film) Sales Volume by Application (2021 VS 2025 VS 2032) 43
4.3.2 Global ABF (Ajinomoto Build-up Film) Sales Volume, by Application (2021-2032) 44
4.3.3 Global ABF (Ajinomoto Build-up Film) Sales Volume, by Application (%) (2021-2032) 45
4.4 Global ABF (Ajinomoto Build-up Film) Average Price by Application (2021-2032) 46
5 Segmentation by Region 49
5.1 Global ABF (Ajinomoto Build-up Film) Sales Value by Region 49
5.1.1 Global ABF (Ajinomoto Build-up Film) Sales Value by Region: 2021 VS 2025 VS 2032 49
5.1.2 Global ABF (Ajinomoto Build-up Film) Sales Value by Region (2021-2026) 50
5.1.3 Global ABF (Ajinomoto Build-up Film) Sales Value by Region (2027-2032) 50
5.1.4 Global ABF (Ajinomoto Build-up Film) Sales Value by Region (%), (2021-2032) 51
5.2 Global ABF (Ajinomoto Build-up Film) Sales Volume by Region 52
5.2.1 Global ABF (Ajinomoto Build-up Film) Sales Volume by Region: 2021 VS 2025 VS 2032 52
5.2.2 Global ABF (Ajinomoto Build-up Film) Sales Volume by Region (2021-2026) 52
5.2.3 Global ABF (Ajinomoto Build-up Film) Sales Volume by Region (2027-2032) 53
5.2.4 Global ABF (Ajinomoto Build-up Film) Sales Volume by Region (%), (2021-2032) 53
5.3 Global ABF (Ajinomoto Build-up Film) Average Price by Region (2021-2032) 54
5.4 Japan 55
5.5 China Taiwan 56
5.6 South Korea 58
5.7 China Mainland 59
6 Segmentation by Key Countries/Regions 61
6.1 Japan 61
6.1.1 Japan ABF (Ajinomoto Build-up Film) Sales Value by Product (%), 2025 VS 2032 61
6.1.2 Japan ABF (Ajinomoto Build-up Film) Sales Value by Application, 2025 VS 2032 62
6.2 China Taiwan 63
6.2.1 China Taiwan ABF (Ajinomoto Build-up Film) Sales Value by Product (%), 2025 VS 2032 63
6.2.2 China Taiwan ABF (Ajinomoto Build-up Film) Sales Value by Application, 2025 VS 2032 64
6.3 China Mainland 65
6.3.1 China Mainland ABF (Ajinomoto Build-up Film) Sales Value by Product (%), 2025 VS 2032 65
6.3.2 China ABF (Ajinomoto Build-up Film) Sales Value by Application, 2025 VS 2032 66
6.4 South Korea 67
6.4.1 South Korea ABF (Ajinomoto Build-up Film) Sales Value by Product (%), 2025 VS 2032 67
6.4.2 South Korea ABF (Ajinomoto Build-up Film) Sales Value by Application, 2025 VS 2032 68
7 Company Profiles 69
7.1 Ajinomoto Fine-Techno 69
7.1.1 Ajinomoto Fine-Techno Company Information 69
7.1.2 Ajinomoto Fine-Techno Introduction and Business Overview 70
7.1.3 Ajinomoto Fine-Techno ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 72
7.1.4 Ajinomoto Fine-Techno ABF (Ajinomoto Build-up Film) Product Offerings 72
7.1.5 Ajinomoto Fine-Techno Recent Development 77
7.2 Sekisui Chemical Co., Ltd. 78
7.2.1 Sekisui Chemical Co., Ltd. Company Information 78
7.2.2 Sekisui Chemical Co., Ltd. Introduction and Business Overview 78
7.2.3 Sekisui Chemical Co., Ltd. ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 80
7.2.4 Sekisui Chemical Co., Ltd. ABF (Ajinomoto Build-up Film) Product Offerings 81
7.2.5 Sekisui Chemical Co., Ltd. Recent Development 86
7.3 WaferChem Technology Corporation 87
7.3.1 WaferChem Technology Corporation Company Information 87
7.3.2 WaferChem Technology Corporation Introduction and Business Overview 88
7.3.3 WaferChem Technology Corporation ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 89
7.3.4 WaferChem Technology Corporation ABF (Ajinomoto Build-up Film) Product Offerings 90
7.3.5 WaferChem Technology Corporation Recent Development 93
7.4 Taiyo Ink 93
7.4.1 Taiyo Ink Company Information 93
7.4.2 Taiyo Ink Introduction and Business Overview 94
7.4.3 Taiyo Ink ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 95
7.4.4 Taiyo Ink ABF (Ajinomoto Build-up Film) Product Offerings 95
7.4.5 Taiyo Ink Recent Development 97
7.5 Wuhan Sanxuan Technology 98
7.5.1 Wuhan Sanxuan Technology Company Information 98
7.5.2 Wuhan Sanxuan Technology Introduction and Business Overview 99
7.5.3 Wuhan Sanxuan Technology ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 100
7.5.4 Wuhan Sanxuan Technology ABF (Ajinomoto Build-up Film) Product Offerings 100
7.6 Shenzhen EPS Technology 100
7.6.1 Shenzhen EPS Technology Company Information 100
7.6.2 Shenzhen EPS Technology Introduction and Business Overview 101
7.6.3 Shenzhen EPS Technology ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 102
7.6.4 Shenzhen EPS Technology ABF (Ajinomoto Build-up Film) Product Offerings 102
7.6.5 Shenzhen EPS Technology Recent Development 103
7.7 Zhejiang Huazheng New Materials 104
7.7.1 Zhejiang Huazheng New Materials Company Information 104
7.7.2 Zhejiang Huazheng New Materials Introduction and Business Overview 105
7.7.3 Zhejiang Huazheng New Materials ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 106
7.7.4 Zhejiang Huazheng New Materials ABF (Ajinomoto Build-up Film) Product Offerings 106
7.7.5 Zhejiang Huazheng New Materials Recent Development 107
7.8 Shengyi Technology 108
7.8.1 Shengyi Technology Company Information 108
7.8.2 Shengyi Technology Introduction and Business Overview 108
7.8.3 Shengyi Technology ABF (Ajinomoto Build-up Film) Sales, Revenue, Price and Gross Margin (2021-2026) 110
7.8.4 Shengyi Technology ABF (Ajinomoto Build-up Film) Product Offerings 110
7.9 Other Potential Entrants 110
7.9.1 Zhuhai Hongchang Electronic Materials 110
7.9.2 Xi'an Tianhe Defense Technology 111
7.9.3 LOTUS HOLDINGS 111
7.9.4 Guangdong Hinnotech New Materials Technology 111
8 Industry Chain Analysis 113
8.1 ABF (Ajinomoto Build-up Film) Industrial Chain 113
8.2 ABF (Ajinomoto Build-up Film) Upstream Analysis 116
8.2.1 Key Raw Materials 116
8.2.2 Raw Materials Key Suppliers 116
8.2.3 Manufacturing Cost Structure 117
8.3 Midstream Analysis 118
8.4 Downstream Analysis (Customers Analysis) 118
8.5 Sales Model and Sales Channels 120
8.5.1 ABF (Ajinomoto Build-up Film) Sales Model 120
8.5.2 Sales Channel 121
9 Research Findings and Conclusion 122
10 Appendix 124
10.1 Research Methodology 124
10.1.1 Methodology/Research Approach 124
10.1.2 Data Source 127
10.2 Author Details 130
10.3 Disclaimer 131