元件行业研究：元件特种玻纤布供不应求国产厂商加速渗透

开源证券股份有...2025-07-10

AI 发展催化PCB 和CCL 迭代，特种玻纤布快速升级且供不应求AI 服务器和高频高速通信网络系统的快速发展推动对大尺寸、高多层PCB 和高频高速覆铜板的需求升级，PCB 及CCL 迭代速度也逐渐加快，PCB 产品层数增加，高阶HDI 应用占比提升，CCL 材料向着低介电常数、低膨胀系数方向发展。Low-Dk、Low CTE 纤维布迎来大规模放量周期，目前特种玻纤布主流供应商为日东纺、Asahi...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250710150652953d20b1&s=b><strong>开源证券股份有...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AI 发展催化PCB 和CCL 迭代，特种玻纤布快速升级且供不应求AI 服务器和高频高速通信网络系统的快速发展推动对大尺寸、高多层PCB 和高频高速覆铜板的需求升级，PCB 及CCL 迭代速度也逐渐加快，PCB 产品层数增加，高阶HDI 应用占比提升，CCL 材料向着低介电常数、低膨胀系数方向发展。Low-Dk、Low CTE 纤维布迎来大规模放量周期，目前特种玻纤布主流供应商为日东纺、Asahi...</p>\n\n<a 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月的均价为基础，7628电子布均价4.3 元/米，较年初4 元/米上涨约8%，较2024 年同期3.7 元/米上涨16%。目前的价格相比于行业高点8 元/米仍然存在较大上行空间。目前玻纤行业涨价趋势依然持续，相关厂商利润有望持续修复。投资建议：随着芯片迭代速度加快及800G 交换机渗透率提升，PCB 和CCL 产品逐渐升级，这离不开玻纤布材料的性能提升，目前Low dk 及Low CTE 应用速度加快，市场需求空间加大，供给端产能紧张，近两年仍存在供需缺口，国产厂商进入机会增加，且随着石英布的进一步迭代，国产厂商有望获得更高市场份额。玻纤布方面受益标的：宏和科技、中材科技等；石英布受益标的：菲利华等。风险提示：下游需求不及预期；国产替代节奏不及预期；扩产节奏不及预期；市场竞争加剧风险。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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元件行业研究：元件特种玻纤布供不应求 国产厂商加速渗透

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元件行业研究：元件特种玻纤布供不应求国产厂商加速渗透