The Four Core Materials in the PCB Industry Chain and Related Enterprises

2026,05,10

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Editor: Gao Yong

Supervisor: Yong Ming

Source: Official Enterprise

Today's article will interpret the four core upstream material industry chains of PCB and list the leading enterprises in each track. It is full of practical knowledge. Whether it is industry practitioners, industry chain researchers, or readers who are concerned about industry opportunities, they can all understand the core pattern of the industry at once. Thank you for reading!

PCB, as a key carrier for electronic component interconnection, is widely used in fields such as communication equipment, artificial intelligence servers, new energy, industrial control, and integrated circuit boards. The core lifeline of industry development lies in the upstream raw materials, mainly including four core categories: copper-clad laminates, copper foils, electronic glass fiber cloth, and epoxy resin. It is also a key breakthrough for high-end high-frequency and high-speed PCBs to achieve domestic substitution. With the continuous increase in AI computing power construction and the surge in demand for high-end PCBs, upstream core materials are accelerating technological iteration and capacity expansion. Leading players in various sub sectors are seizing the industry dividend by relying on technological barriers, capacity scale, and customer certification advantages.

1. Copper clad laminate

Copper clad laminate is the core substrate of PCB manufacturing and the key link that determines the performance of PCB boards, making it the cornerstone of the PCB industry. The current industry development mainly focuses on three main lines: high-frequency high-speed boards, IC carrier board special substrates, and general FR-4 basic boards. Among them, high-frequency high-speed copper-clad laminates used in AI servers, high-end communication switches, and optical modules have become the focus of industry competition.

As the absolute leader in domestic copper-clad laminates, Shengyi Technology firmly ranks in the second tier of the world. We have achieved technological leadership in the domestic high-frequency and high-speed M8 and M9 series products, deeply binding with leading PCB and AI server manufacturers, and are a core supplier of high-end communication and computing hardware. South Asia New Materials focuses on the high-frequency and high-speed copper-clad laminate track, with complete M-series product certification and a complete product matrix, accurately targeting high prosperity application scenarios such as AI servers and optical modules. Huazheng New Materials focuses on high-end substrates and IC carrier materials, with outstanding technical strength in high-frequency high-speed boards and metal substrates, and has successfully entered the core supply chain of advanced packaging and computing power PCBs. Jin'an Guoji has been deeply cultivating medium thick FR-4 universal copper-clad laminates, consolidating its basic market with its huge production capacity and cost advantages, while steadily extending into high-frequency and high-speed high-end categories, completing product structure upgrades.

2. Copper foil

Copper foil is the conductive core of copper-clad laminates and accounts for the highest proportion of raw material costs. It is divided into two categories: PCB electronic circuit copper foil and lithium battery copper foil. AI computing hardware has put forward strict requirements for PCB copper foil with low profile, ultra-thin specifications, high heat resistance, and low dielectric. High end HVLP and RTF series copper foils have become essential in the industry, and high-end copper foils have also become an important track for domestic substitution in the industry chain.

Copper Crown Copper Foil, backed by the complete industrial chain of Tongling Nonferrous, is a leading enterprise in PCB electronic copper foil in China. The HVLP high-end series achieves large-scale production and is deeply bound to top copper-clad laminates and AI supply chain manufacturers. Defu Technology has laid out dual tracks for PCB and lithium-ion copper foil, successfully entering the AI server supply chain with high-end HVLP copper foil, leading the industry in both technology and production capacity. Nord Corporation and Jiayuan Technology, as veteran leaders in lithium battery copper foil, have crossed over and laid out high-end PCB electronic copper foil, relying on their advantages in ultra-thin special copper foil technology to seize the high-end market. In addition, Zhongyi Technology and Yihao New Materials have rapidly emerged in the PCB circuit copper foil field with their dual business layout and integrated production capacity advantages, supplying multiple leading PCB production enterprises.

3. Electronic cloth

Electronic grade fiberglass cloth is the core skeleton of copper-clad laminates, mainly providing insulation, structural rigidity, low expansion rate, and low dielectric properties for PCBs. The explosion of AI high-frequency and high-speed PCBs has driven a surge in demand for high-end electronic fabrics with ultra-thin, ultra-thin, low dielectric, and low thermal expansion coefficients, becoming a high growth sub segment of the fiberglass industry.

Honghe Technology is a global leader in ultra-thin and ultra-thin high-end electronic fabric. Low dielectric products are perfectly compatible with AI high-frequency high-speed boards and have been certified by global top computing power manufacturers, with significant positioning advantages. As the absolute leader in the global fiberglass industry, China Jushi has triple advantages in scale, cost, and technology in the fields of electronic yarn and electronic fabric, covering all categories of conventional and high-end low dielectric electronic fabric. Feilihua is deeply involved in quartz electronic fabric and special fiberglass, and its products are suitable for ultra-high frequency copper-clad laminates and advanced packaging scenarios, with outstanding differentiation advantages. Mount Taishan Fiberglass, a subsidiary of International Composites and Sinoma Technology, is a core supplier of electronic glass fiber and continues to provide stable supporting support for the copper clad laminate industry chain.

4. Resin

Epoxy resin and special resins are the bonding core of copper-clad laminates, directly determining the dielectric properties, heat resistance, and stability of PCB boards. General purpose PCBs are mainly made of ordinary epoxy resin, while high-end high-frequency and high-speed PCBs rely on PPO, hydrocarbons BMI、 High end resins such as low dielectric special epoxy have long been monopolized by overseas companies, and now the domestic substitution process is accelerating comprehensively.

Hongchang Electronics is a leading enterprise in electronic grade epoxy resin. Forming a dual main business pattern of resin and copper-clad laminate, high-end epoxy products can be adapted to various high-frequency and high-speed copper-clad laminate production. Dongcai Technology has achieved significant breakthroughs in the field of high-frequency and high-speed electronic resins, breaking the monopoly of foreign investment with high-end products such as M9 grade hydrocarbon resins and successfully entering the AI high-end material supply chain. As a well-established enterprise in the synthetic resin industry, Shengquan Group leads in electronic grade PPO, phenolic resin, and special epoxy technology, and is a core resin supplier for domestic copper-clad laminate enterprises.

Overall, the wave of AI computing power is reshaping the PCB industry supply chain. The four core materials of upstream copper-clad laminates, copper foils, electronic fabrics, and specialty resins are both bottlenecks and the biggest opportunities for industry development. With the acceleration of domestic substitution of high-end boards, segmented leaders with advantages in technology research and development, customer certification, and production capacity scale will continue to enjoy the high prosperity dividends of the industry and become the core link with the most growth value in the PCB industry chain.

Disclaimer: Warm reminder: This article is a sharing of industry product information and market trends, and the content is for reference only and does not constitute any investment advice. The stock market is volatile and risky, so caution should be exercised when entering the market. If infringement is involved, please contact us for deletion. Within the scope permitted by law, the official account of the new vision of glass fiber has the final right of interpretation.

Author:

Mr. lingchao

E-mail:

mr.xu@lingchaopcb.com

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+86 13780181891