subject: 2012 Led Industry Chain Trends [print this page] LED industry chain including epitaxial growth and chip manufacturing, packaging and application.
Upstream still exist overcapacity pressure, optimistic about the manufacturers which have the advantage
LED industry upstream is the epitaxial production and chip manufacturing. Upstream LED industry chain with high technical content, a large amount of investment in equipment, while relatively high profit margins in the whole industry chain. A relatively small number of enterprises with large-scale production capacity, mainly distributed in the United States, Japan, the European Union, China, Taiwan and other countries or regions, part of the enterprise at the same time to carry out the production of LED epitaxial wafers and chips, part of the enterprise has only chip production capacity, epitaxial supply of tablets rely on upstream enterprises. According to the latest data of IMS Research, 2011 global MOCVD machine shipments of 654 units, compared to 10-year shipments decline. Due to continuing oversupply of LED, the credit crunch, and the expiration of the subsidies, IMS forecast in 2012 MOCVD machine shipments will decline further to 342 units, a decrease of 48%.
The upstream investment still occupy the main direction of our LED investment. According to Statistics of Engineering Institute, in 2011 China's LED industry contract planning investment amounted to 194.5 billion RMB, a year-on-year decline of 10.7%. A total of 132 more than the size of annual new projects (more than 100 million RMB of investment projects), an increase of 58 over 2010, especially the upstream epitaxial core investment of up to 89 billion RMB. From cast sheet shipments at home and abroad situation, many enterprises MOCVD machine is still in the debugging and climbing period, poor product quality, low competitiveness, and can only be used for very low-end LED products, such invalidity capacity actually overall limited impact in the industry. In the next 3-5 years, the domestic low-end LED chip market competition will continue to exacerbate, and the supply of high-quality LED chip will be in short supply, the industry will inevitably further centralized integration.
Midstream package was benefit directly , concerned about customer development and capacity expansion
Relative to the epitaxial and chip industries, China's LED packaging industry is the most competitive, the largest technical level closest to the international advanced level. LED companies from abroad have entered the domestic to set up factories, China's LED packaging industry has formed a certain scale of the industry, has become an important low-end LED packaging production base. We believe that the barriers in the field of the package is mainly reflected in the accumulated experience of various applications package, good market reputation and experience in manufacturing companies can be recognized by downstream customers.
Downstream pattern confusion, optimistic about the traditional brand and channel advantages of traditional manufacturers of energy-saving lamps
LED industry downstream including display, backlighting, automotive lighting and general lighting. Gradually reduce barriers to entry due to the LED industry chain from upstream to downstream, resulting in a large number of LED downstream SMEs chaotic pattern. According to statistics, China's semiconductor lighting manufacturers over 3000, of which 70% are concentrated in the downstream industry. Homogenization between enterprises serious and lack of core technology, low-level competition on price war.
Looking forward to the future, LED lighting is the most promising in the application of the downstream areas. To occupy a place in the LED lighting, the most advantage is the traditional lamps and lanterns manufacturers which has occupied the commanding heights of brand and channel in the field of energy-saving lamps.
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