New energy is now widely used in electric power and new energy vehicles, and the penetration rate of new energy vehicles has increased rapidly in recent years, which has led to the development of battery and battery application-related materials supply chain enterprises in the upstream of the industry, of which battery isolation film is a representative.
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The optical film is an important raw material in the display panel industry chain, and its domestic substitution has become a trend. The optical film is located in upstream of the display panel industry chain, and its gross margin is at the high end of the industry chain “smile curve” due to its high technical barriers.
Optical film and battery isolation film both belong to the film industry and occupy the main position of investment in China’s film industry. According to CINNO Research, China (including Taiwan) will invest about RMB 112.4 billion in the membrane industry in 2022.
In terms of geographical distribution, investment funds are mainly distributed in Anhui, Jiangsu, Sichuan, Hubei and Fujian, accounting for 82.9% of the total in the five regions; in terms of domestic and foreign investment distribution, domestic funds account for 100% of the total.
In terms of capital flow, in 2022, China (including Taiwan) will mainly invest in lithium diaphragm projects, with the amount of RMB79.3 billion, accounting for 70.6%; while optical grade film materials will invest RMB33.1 billion, accounting for 29.4%.
Membrane materials belong to the pan-semiconductor materials market, which is in the upstream position of several industries and will greatly influence the photoelectric display field and new energy track.
