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keyword:TrendForce339 result(s)

Press Releases
Driven by NEVs, Power Battery Demand for Cathode Materials Forecast to Exceed 2.15 Million Tons in 2025, says TrendForce

2021/12/23

Energy

With the explosion of new energy vehicle (NEV) production and sales, the installed capacity of power batteries has also seen rapid growth, in turn promoting the rising demand for battery materials, according to TrendForce’s investigations Among battery materials, cathode materials are most in demand for power batteries and their shipments have benefited from the rapid growth of the NEV market It is estimated that the global demand for power battery cathode materials in 2021 will reach 600,000 tons and this number is expected to exceed 215 million tons by 2025 As the largest downstream application market for lithium batteries, electric vehicles account for more than 60% of total lithium battery consumption With estimated total consumption of lithium batteries for electric vehicles worldwide reaching 310GWh this year, corresponding demand for cathode materials will reach approximately 604,000 tons According to statistics from the China Association of Automobile Manufacturers, China's NEV sales reached 299 million vehicles between January and November of this year, accounting for approximately 50% of total global sales of NEVs, and becoming the key to boosting global demand for power battery installations During this period (January to November), the installed capacity of power batteries in the Chinese market reached 1283GWh, a YoY growth rate of 1531% The cumulative installed capacity of lithium iron phosphate batteries reached 648GWh, surpassing the 633GWh installed capacity of ternary batteries for the first time TrendForce believes, benefiting from strong market demand for electric vehicles, lithium battery material manufacturers (representative of cathode materials) have started a new round of large-scale production expansion this year and are expected to gradually release new production capacity in the next 2 to 3 years, relieving tight market demand At present, the overall capacity utilization rate of China's cathode material industry is not high Taking lithium iron phosphate materials as an example, the capacity utilization rate of China's lithium iron phosphate cathode materials in 2020 is approximately 44% and expected to rise to 56% this year Whether or not future global market demand of more than 2 million tons can be met will depend on whether new production capacity of cathode materials can come online according to schedule and whether the supply of key raw material lithium carbonate is sufficient For more information on reports and market data from TrendForce’s Department of Green Energy Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
China Makes Policy to Promote Waste Battery Recycle Industry, 2025 Market Scale Forecast to Reach RMB26 Billion, Says TrendForce

2021/12/09

Energy

Along with the swift development of the Chinese new energy vehicle (NEV) industry, the number of retired power batteries has risen year over year with Chinese waste power battery volume estimated to exceed 18GWh in 2021 and reach 91GWh by 2025, according to TrendForce’s latest investigations Currently, power battery recycle and reuse is primarily divided into echelon utilization and material recycling Chinese waste battery material recycling already possesses a certain scale with a 2020 market size of RMB24 billion and it is estimated to reach RMB26 billion by 2025 TrendForce adds, the current Chinese Ministry of Industry and Information has officially announced the “14th 5-Year Industrial Green Development Plan,” expressing a wish to promote a transformation in resource utilization In terms of the recycling and reuse of waste power batteries, it proposes a comprehensive set of laws and regulations for power battery recycling, exploring and promoting new business models such as “internet + recycling,” strengthening traceability management, encouraging upstream and downstream enterprises in the industrial chain to build shared recycling pipelines, and establishing a set of centralized recycling service stations In addition, scaled echelon utilization in fields such as waste power battery energy storage, backup, charging, and exchange will be promoted to establish a set of echelon utilization and recycling projects and build a more complete power battery recycling structure by 2025     Power battery recycling and reuse include echelon utilization and materials recycling In echelon utilization, power batteries with charge capacities that have dropped to 80% or less are used in applications such as power backup, energy storage, or other related fields Currently, most examples of echelon utilization are at an experimental demonstration stage In materials recycling, retired power batteries are dissembled, valuable metals such as lithium, cobalt, and nickel recycled, and reused in the recycled manufacturing of battery materials (eg ternary precursors)    TrendForce believes the development of NEVs is an important avenue in the promotion of energy conservation The rapid development the industry will inevitably be accompanied by the large-scale retirement of power batteries in the future and bring industry opportunities for power battery recycling and downstream echelon utilization Currently, the battery recycling business still faces a number of bottlenecks such as the fragmentation of power battery life cycle information, a lack of testing standards for retired batteries, improvement of technical standards for echelon utilization, and fluctuations in metal pricing affecting the economics of material recycling These are all factors that restrict the recycling and reuse of power batteries China’s new battery recycling policy will promote the orderly and healthy development of the lithium battery industry in the future and help break through the constraints of lithium and other key global resources For more information on reports and market data from TrendForce’s Department of Green Energy Research, please click here, or email Ms Grace Li from the Sales Department at graceli@trendforcecom For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Foundry Revenue Rises by 12% QoQ for 3Q21 Thanks to Peak Season, New Production Capacity, and Rising Prices, Says TrendForce

2021/12/02

Semiconductors

Although the demand for end products related to the stay-at-home economy slowed down as many countries saw rising vaccination rates and were partially lifting social distancing restrictions, the decline in foundry orders from this source was more than offset by the traditional peak season for smartphones, according to TrendForce’s latest investigations At the same time, OEMs for notebook (laptop) computers, networking devices, automotive electronics, and IoT devices kept vigorously building up their inventories because the earlier capacity crunch in the foundry market was constraining them from reaching their shipment targets Because of these developments, demand continued to outstrip supply in the foundry market during 3Q21 As for foundries, they have been gradually taking on new production capacity in the recent period and gaining from the ongoing rise in the ASP Thanks to robust demand, new production capacity, and rising wafer prices, the quarterly total foundry revenue rose by 118% QoQ to reach a new record high of US$2728 billion for 3Q21 This result indicated nine consecutive quarters of revenue growth Top four foundries posted double-digit revenue growth for 3Q21 due to peak season for smartphones; SMIC’s revenue growth was slightly limited by restrictions imposed on its capacity expansions TSMC raised its quarterly revenue by 119% QoQ to US$1488 billion as it benefited from the release of new iPhone models The foundry remained firmly at the top of the ranking in 3Q21 Regarding TSMC’s revenue generation by node, the combined revenue share of the 7nm and 5nm nodes has already surpassed 50% and is still expanding thanks to continued demand for smartphone chips and HPC chips Samsung raised its revenue by 11% QoQ to US$481 billion for 3Q21 and sat firmly in second place The revenue growth was attributed to several factors First, the releases of new smartphone models during the second half of the year has spurred the demand for SoCs and DDIs Second, fab Line S2 in Austin has returned to its normal level of revenue contribution following the recovery from the winter storm that struck Texas in the earlier part of this year Third, fab Line S5 in Pyeongtaek has activated its newly added production capacity And finally, the revenue result for 2Q21 was a low base for comparison and thus led to a rather impressive performance for 3Q21 UMC made significant gains in 3Q21 because the activation of new production capacity for its 28/22nm nodes led to an increase in wafer input for OLED driver ICs and other components This also caused a rise in its blended ASP UMC’s revenue went up by 122% QoQ to US$204 billion for 3Q21 With a growth rate that surpassed the top two ranking leaders, UMC retained third place by overtaking GlobalFoundries in the ranking for the first time in 1Q20, and its lead has been gradually widening since then GlobalFoundries posted a QoQ increase of 12% in revenue to US$171 billion for 3Q21 and kept fourth place in the ranking To address the worldwide chip shortage, GlobalFoundries has announced a series of capacity expansions and greenfield projects this year Existing plants including Fab1 in Dresden and Fab8 in Malta (which is a town in the state of New York) will take on new production capacity New plants will also be built in Singapore and Malta It is worth noting that the capacity expansions and greenfield projects that GlobalFoundries has revealed so far for this year will be financed via a public-private partnership model GlobalFoundries will be leveraging funding from governments and advance payments from its clients to reduce the pressure of rising capital expenditure and ensure that the new production capacity will operate at a high utilization rate in the future SMIC increased its revenue by 53% QoQ to US$142 billion for 3Q21 and was ranked fifth Two reasons were behind the revenue growth First, there is a stable level of demand for its PMICs, Wi-Fi chips, MCUs, and RFICs Second, SMIC has been steadily raising wafer prices It is also worth pointing out that SMIC has been adjusting its product mix and client base due to geopolitical factors Growing consistently over the quarters, the share of Chinese clients in SMIC’s client base came to almost 70% in 3Q21 Under the impetus of the semiconductor policies of the Chinese government, SMIC will continue to give priority to the demand from domestic clients Hence, the portion of foreign clients in its incoming orders will gradually shrink relative to that of domestic clients Second- and third-tier foundries posted higher revenue growth rates compared with first-tier counterparts because of strong demand for mature nodes HuaHong Group posted a QoQ increase of 214% in revenue to US$799 million for 3Q21, thereby taking sixth place in the ranking HuaHong continues to raise its ASP as it production capacity is expected to be fully loaded through the whole 2021 This development, together with the successful capacity expansion undertaken at its Fab7 in Wuxi, contributed to the above-expected revenue result for the foundry PSMC’s revenue growth continued to pick up pace in 3Q21 thanks to the general rise in wafer prices and the robust demand for the main categories of chip products (eg, DDIs, PMICs, CIS, and power discretes such as MOSFETs and IGBTs) PSMC raised its quarterly revenue by 144% QoQ to US$525 million and was ranked seventh After surpassing Tower Semiconductor in the ranking for the first time in 2Q21, VIS maintained its strong growth momentum by posting a QoQ increase of 175% in revenue to US$426 million in 3Q21 on account of several factors First, VIS increased its products shipments through capacity expansion Furthermore, VIS was able to optimize its product mix and raise its ASP It secured eighth place in the ranking Occupying ninth place in the ranking, Tower Semiconductor’s performance exceeded expectations for 3Q21 with its revenue climbing 69% QoQ to US$387 million Tower’s revenue generation mainly benefited from the stable demand related to RF-SOI chips, industrial sensor chips, and PMICs Taking the tenth place in the ranking, DB HiTek registered a 156% QoQ increase in revenue to a record high of US$283 million for 3Q21 because of the rising ASP In the past year, DB HiTek kept its capacity utilization rate at almost 100% To raise its overall output, the foundry has decided to focus its expansion efforts on its existing wafer production lines As a result, its production capacity has been increasing slightly since 2Q21 The additional production capacity will effectively contribute to its revenue generation in 4Q21 Moving into 4Q21, although foundries have undertaken various capacity expansions and greenfield projects, their new production capacity that has been activated this year is already completely booked The new fabs that foundries have announced will need some time to get built and fully set up, so the chip shortage on the whole will unlikely ease off anytime soon On the demand side, sales have weakened a bit for TVs and other end products associated with the stay-at-home economy However, the hardware and infrastructure demand related to 5G, Wi-Fi 6, and IoT continues to gain momentum Moreover, OEMs for consumer electronics are still stocking up on components in preparation for the year-end holiday sales Based on the latest examination of incoming foundry orders, TrendForce finds that foundries will continue to operate at fully-loaded capacity Due to the undersupply situation, the overall ASP of the foundry market has also been climbing Meanwhile, foundries have been optimizing their product mixes to boost their financial performances Taking account of this and other aforementioned developments, TrendForce believes that revenue growth will continue for the top 10 foundries in 4Q21 However, 4Q21 will also see more moderate growth compared with the previous quarter because there is a shortage of peripheral ICs made using mature process nodes Additionally, demand has slacked a bit for some SoC products For more information on reports and market data from TrendForce’s Department of Semiconductor Research, please click here, or email Ms Latte Chung from the Sales Department at lattechung@trendforcecom For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Annual 6-inch SiC Wafer Demand from EV Market Expected to Reach 1.69 Million Units in 2025 as 800V Charging Architecture Nears, Says TrendForce

2021/12/01

Semiconductors

Owing to the EV market’s substantial demand for longer driving ranges and shorter charging times, automakers’ race towards high-voltage EV platforms has noticeably intensified, with various major automakers gradually releasing models featuring 800V charging architectures, such as the Porsche Taycan, Audi Q6 e-tron, and Hyundai Ioniq 5 According to TrendForce’s latest investigations, demand from the global automotive market for 6-inch SiC wafers is expected to reach 169 million units in 2025 thanks to the rising penetration rate of EVs and the trend towards high-voltage 800V EV architecture The revolutionary arrival of the 800V EV charging architecture will bring about a total replacement of Si IGBT modules with SiC power devices, which will become a standard component in mainstream EV VFDs (variable frequency drives) As such, major automotive component suppliers generally favor SiC components In particular, Tier 1 supplier Delphi has already begun mass producing 800V SiC inverters, while others such as BorgWarner, ZF, and Vitesco are also making rapid progress with their respective solutions At the moment, EVs have become a core application of SiC power devices For instance, SiC usage in OBC (on board chargers) and DC-to-DC converters has been relatively mature, whereas the mass production of SiC-based VFDs has yet to reach a large scale Power semiconductor suppliers including STM, Infineon, Wolfspeed, and Rohm have started collaborating with Tier 1 suppliers and automakers in order to accelerate SiC deployment in automotive applications It should be pointed out that the upstream supply of SiC substrate materials will become the primary bottleneck of SiC power device production, since SiC substrates involve complex manufacturing processes, high technical barriers to entry, and slow epitaxial growth The vast majority of n-Type SiC substrates used for power semiconductor devices are 6 inches in diameter Although major IDMs such as Wolfspeed have been making good progress in 8-inch SiC wafer development, more time is required for not only raising yield rate, but also transitioning power semiconductor fabs from 6-inch production lines to 8-inch production lines Hence, 6-inch SiC substrates will likely remain the mainstream for at least five more years On the other hand, with the EV market undergoing an explosive growth and SiC power devices seeing increased adoption in automotive applications, SiC costs will in turn directly determine the pace of 800V charging architecture deployment in EVs For more information on reports and market data from TrendForce’s Department of Semiconductor Research, please click here, or email Ms Latte Chung from the Sales Department at lattechung@trendforcecom For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Smartphone Production Undergoes Modest 5.7% QoQ Increase for 3Q21 Owing to Supply Chain-Related Component Shortages While Recovery to Pre-Pandemic Levels Remains Unlikely, Says TrendForce

2021/11/30

Consumer Electronics

The smartphone market is showing an improvement in demand during the second half of this year due to the peak season for e-commerce promotional activities and the easing of COVID-19 outbreaks in regions such as Southeast Asia, according to TrendForce’s latest investigations However, there have been significant shortages of components including 4G SoCs, low-end 5G SoCs, display panel driver ICs, etc The persistent component gaps are constraining smartphone brands from raising device production for the second half of the year Looking at 3Q21, the quarterly total smartphone production came to around 325 million units, a 57% QoQ increase Even so, not only does the QoQ increase in smartphone production for 3Q21 fall short of the QoQ increase for the same quarter last year, but the quarterly production volume for 3Q21 also shows a weaker performance result when compared with figures from 3Q20 or from 3Q19, prior to the emergence of the pandemic As for the total production for the whole 2021, TrendForce has lowered the projection to 1335 billion units with a YoY growth rate of 65% The previous projection was 1345 billion units with a YoY growth rate of 73% This downward correction mainly reflects the impact of the component gaps on device production Going forward, an important point of observation in the smartphone market is whether the pandemic will further weaken demand Also, the other significant variables that will influence future smartphone demand include geopolitical tensions, distribution of production capacity in the foundry market, and global inflationary pressure While smartphone production for 3Q21 reached about 325 million units, the release of new models helped Apple retake second place in the global ranking Samsung raised its smartphone production by 179% QoQ to 69 million units for 3Q21 The growth was mainly attributed to the stabilization of the capacity utilization rates of its device assembly plants in Vietnam Samsung continued to top the global ranking of smartphone brands with the largest market share in production terms Apple released four new iPhone models under the iPhone 13 series in 3Q21 Thanks to their contribution, the total iPhone production for 3Q21 registered a QoQ increase of 226% to 515 million units With this result, Apple was also able to climb to second place in the global ranking In terms of product development, Apple is staying with the plan to release its third-generation iPhone SE in 1Q22 and four models under a new series in 2H22 The third-generation iPhone SE is expected to be a major instrument in helping Apple establish a presence in the market segment for mid-range 5G smartphones Its production volume for 2022 is forecasted to reach 25-30 million units OPPO marginally raised its smartphone production by 3% QoQ to 51 million units for 3Q21, thereby capturing third place in the ranking Xiaomi held fourth place as its smartphone production for the same quarter fell by 10% QoQ to 445 million units Vivo’s smartphone production for 3Q21 was relatively constant compared with the previous quarter, coming to around 34 million units With this result, Vivo was ranked fifth The production figures of these three Chinese brands include devices under their respective sub-brands (ie, OPPO’s Realme and OnePlus; Xiaomi’s Redmi, POCO, and Black Shark; and Vivo’s iQoo) Looking at the three brands’ production performances in 3Q21, TrendForce notes that there is a high degree of overlap in terms of target market as well as a high degree of similarity in offerings Hence, their production performances directly hinge on their ability to acquire enough of the components that are now in short supply Honor will expand into the overseas markets next year as part of its plan for a comeback After spending the first half of this year stocking up on components and undergoing business restructuring, Honor is now on a more solid footing and will attain an annual smartphone production of 435 million units In the global ranking of smartphone brands by annual production for 2021, Honor is expected to take eighth place Also, Honor as an independent brand has obtained access to Google Mobile Services Therefore, it plans to expand to other markets outside China next year and leverage the sales expertise that it has acquired from Huawei in order gain a bigger share of the overseas markets Regarding Honor’s sales strategy as a whole, the main focus is still on the domestic market As for the overseas markets, Honor will continue Huawei’s strategy and avoid India where competition revolves around low pricing Instead, Honor will attempt to establish itself in regions such as Russia, the wider Europe, and South America In general, Honor’s rise will likely affect the market shares of the other aforementioned brands How much market share Honor will gain depends on its ability to have sufficient inventory of components that are now in short supply For more information on reports and market data from TrendForce’s Department of Semiconductor Research, please click here, or email Ms Latte Chung from the Sales Department at lattechung@trendforcecom For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

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