01 Quartz crystal oscillator can be used for wireless data transmission and timing, known as the salt of industry
The crystal generates a specific frequency signal through the piezoelectric effect: the quartz crystal oscillator is a frequency control component made of the piezoelectric effect of the quartz crystal (SiO), which can generate a stable pulse and provide a reference frequency signal for the microchip.
Crystal oscillator is known as the salt of industry: Quartz crystal oscillator is widely used in frequency control, frequency stability, frequency selection and timing systems, mainly for wireless data transmission and timing, and is an essential electronic component in the circuit.
In the global crystal oscillator market, the sales of resonators are the highest, and the shipments of MHz resonators are the highest
In terms of sales, the sales of resonators are the highest: CS&A data shows that in 2019, the sales of quartz crystal resonators (Xtal) accounted for up to 58%, and other types of quartz crystal oscillators accounted for about 42%.
From the perspective of shipments, the shipment of MHz resonators is the highest: CS&A data shows that in 2019, the shipments of high-frequency (MHz) resonators accounted for more than half of the shipments, and the shipments of low-frequency (KHz) resonators accounted for more than half. The volume accounted for 37.3%, and other types of quartz crystal oscillators accounted for about 9.98%.
Upstream: The crystal oscillator is mainly composed of a base, a chip, a packaging material, and an IC
The raw materials of resonators and oscillators are similar: the raw materials of quartz crystal resonators are mainly bases, chips, packaging materials (SMD cover or DIP shell), etc. The raw materials of quartz crystal oscillators also need to add IC chips on the basis of resonators.
The base material of the resonator is mainly based on the base: taking Jingsai Technology SMD3225 as an example, the base occupies 47.00% of the cost, which is the largest component of the cost. The chip accounts for 16.82% of the cost, and the packaging material accounts for 3.47% of the cost. Relatively small.
The raw materials of the oscillator are mainly IC and pedestal: Taking Jingsai SPXO-3225 as an example, IC and pedestal together account for 78.67% of the cost.
Midstream: Photolithography is the key to producing high fundamental frequency crystal oscillators
There are major limitations in the mechanical grinding process: the wafer AT-cut thickness of 28μm (close to 60MHz) is close to the limit of the mechanical grinding process, and it is difficult to mass-produce quartz wafers required for high fundamental frequency crystal oscillators (5G communication technology usually requires AT-cut thickness It is 20～16μm or even thinner, and the frequency requirement is 80MHz～96MHz).
The photolithography process is the key to the production of high fundamental frequency crystal oscillators: the photolithography etching process can process the thickness of the oscillation part of the wafer to the micron level, and can realize ultra-high frequency fundamental wave oscillation while maintaining the chip strength. The key technology for mass production of quartz crystal oscillators.
02 5G and new energy bring secondary growth, high fundamental frequency and automotive-grade crystal oscillators both increase in volume and price
Domestic high fundamental frequency crystal oscillators have passed Qualcomm certification, and the demand for high fundamental frequency domestic alternatives has exploded
5G construction promotes the trend of high-frequency crystal oscillators: from 2G to 5G, the frequency of crystal oscillators is getting higher and higher, and the demand frequency of 5G communication products will increase to 52MHz, 76.8MHz, and 96MHz. (Report source: Future Think Tank)
Domestic crystal oscillator manufacturers have obtained Qualcomm certification: Domestic crystal oscillator manufacturers have made rapid technological progress, and their products have been certified by many solution providers such as Qualcomm. In February 2021, Whalen Crystal and Taijing Technology's 1612 small size 76.8MHz thermal crystal resonator (TSX) obtained Qualcomm certification, becoming a new member of the few manufacturers that have obtained Qualcomm certification in the world.
The demand for high fundamental frequency crystal oscillators will continue to rise: Qualcomm 5G baseband chip products are abundant, 5G solutions are widely used, and certified crystal oscillator products will enter the purchase list of many mobile phone manufacturers. market demand will increase significantly.
The price of high fundamental frequency crystal oscillators has increased significantly compared with ordinary crystal oscillators, and it is expected to usher in a rise in volume and price
The price of high fundamental frequency is up to 2 times that of ordinary crystal oscillators, and the gross profit is greatly increased: the unit price of ordinary crystal oscillators is about 0.5-1 yuan per piece, and the unit price of high-frequency crystal oscillators is up to 2 times that of ordinary crystal oscillators, and the unit price has increased significantly. The difference between high fundamental frequency crystal oscillators and ordinary crystal oscillators is mainly due to the use of more advanced photolithography processes, and the difference in product cost is not large, which will greatly improve the gross profit margin.
High fundamental frequency crystal oscillators are expected to usher in a rise in volume and price: Under the general trend of domestic substitution, the sales of high-end crystal oscillators will increase significantly, and the superposition of high-end crystal oscillators will increase the average unit price of products. Domestic crystal oscillator manufacturers are expected to usher in a "double breakthrough" in sales and price. .
The car gauge crystal oscillator has higher requirements for reliability and higher unit price
Automotive-grade crystal oscillators have high requirements for reliability: the driving environment of automobiles is relatively complex, and it needs to pass strict tests such as repeated cooling and heating cycles, anti-vibration, anti-shock, anti-pollution, etc. The requirements for crystal oscillator frequency and size are low, but the reliability is not high. More demanding.
The unit price of the car-type crystal oscillator is higher: Compared with the ordinary crystal oscillator, the main difference of the car-type crystal oscillator is that the design and production process of the base are more complicated, and the price is relatively high, which can bring higher added value to the crystal oscillator manufacturer.
The demand for crystal oscillators for new energy vehicles has increased significantly, and car-sized crystal oscillators have opened the second growth curve
The demand for crystal oscillators for each electric vehicle is about 100-150, which is significantly higher than the demand for traditional oil-powered vehicles of about 60-100; gradually spread. With the vigorous development of the new energy vehicle market, the demand for automotive-grade crystal oscillators is expected to usher in rapid expansion, which will bring new profit growth points for domestic crystal oscillator manufacturers.
Downstream: 5G, new energy and other fields have grown significantly, and downstream demand continues to rise
According to TXC forecast data, 5G communication equipment, network, automotive electronics, mobile phones, consumer electronics and other downstream fields of crystal oscillators will have a CAGR of more than 20% in the future, maintaining rapid growth.
Global 5G mobile phone shipments have gradually increased: According to IDC data, global 5G mobile phone shipments have grown rapidly from 16 million units in 2019 to 260 million units in 2020. In 2020, the global mobile phone shipments accounted for 5G mobile phones. 19.73%.
The penetration rate of 5G mobile phones in my country has increased rapidly: my country's 5G mobile phone shipments have rapidly increased from 14 million units in 2019 to 266 million units in 2021, and the proportion of 5G mobile phone shipments has continued to increase. In 2021, my country's 5G mobile phones will account for 77.55% of the total smartphone shipments, and the proportion of 5G mobile phones will increase rapidly.
Rapid growth of the high fundamental frequency crystal oscillator market: High fundamental frequency crystal oscillators are an important component of 5G equipment, and the rapid development of 5G applications will greatly expand the market space for high fundamental frequency crystal oscillators.
The global new energy vehicle penetration rate is rapidly increasing: the global new energy vehicle industry continues to maintain rapid growth. In 2021, the global new energy vehicle sales volume will be 6.75 million, a year-on-year increase of 108%. The global new energy vehicle penetration rate will reach 8.3%, an increase from 2020. 4.1 pct.
