5G spectrum is much higher than 4G, and the number of acer stations has increased significantly
5G spectrum is much higher than 4G, with poor penetration and large attenuation of electromagnetic wave. When other factors are not taken into account, the coverage of base station is smaller than that of 4G base station, and the construction density is larger. Among them, 5G low-frequency resources are mainly used in application scenarios such as continuous wide coverage, low time delay, high reliability, low power consumption and large connection. The main carrier is 5G macro station. We expect that the density of 5G macro station in China will be at least 1.5 times that of 4G base stations, or the total number will reach nearly 6 million. In the era of 5G, China is expected to continue its existing advantages. The number of 5G acer stations accounts for 60% of the world’s total, so the total scale of global 5G acer stations construction is nearly 10 million. It is expected that after the official commercial use in 2020, more mature small base station construction scheme will be used in 5G high frequency band to achieve continuous coverage, and the number of small base stations is expected to explode. After the official commercialization in 2020, more mature small base station construction scheme will be used in 5G high frequency band to achieve continuous coverage, and the number of small base stations is expected to explode.
5G acer station architecture changes from “BBU+RRU+ antenna” to “AAU+CU+DU”
Changes in the acer station architecture will result in changes in the demand for single base station PCB and copper clad substrates. Traditional 3 g / 4 g base stations is usually a baseband processing unit (BBU), radio frequency unit (RRU) and independence day feed system, 5 g core network technology integration, base station architecture compared with 4 g base stations will happen major changes: 5 g base stations BBU function will be reconstructed for CU (central unit) and DU two function entity (distribution units), RRU with antenna to AAU.
The amount of mono-acer stations increased significantly and the number of 5G acer stations increased, giving rise to the explosion of high-frequency and high-speed PCB and material demand
Changes in PCB substrate for 5G communication bring challenges to PCB processing, with relatively high technical barriers. Based on the above analysis of the construction quantity and architecture of 5G acer station, we predict that the demand of high frequency and high speed PCB and CCL of 5G acer station will be greatly increased compared with that of 4G base station. Assuming that the 5G construction cycle will be extended to 2019-2026, the total construction amount of domestic acer stations is 5.7 million, accounting for 60% of the world, and the total construction amount of global 5G acer stations is about 9.5 million. According to our calculation, the PCB market of 5G acer stations is expected to reach the peak value of 27.9 billion yuan in 2022, while the total demand of high-frequency/high-speed CCL is about 9.8 billion yuan.
5G commercial launch, pay attention to 5G acer station PCB and high frequency/high speed copper clad plate investment opportunities
Stable PCB communication base station competition, product certification cycle is long, high technical threshold, customers domestic shennan circuit, Shanghai electric corporation in huawei, zte, nokia, samsung, Ericsson and other equipment supply system has occupied the important status, with 5 g commercial open, is expected to take the lead in both benefit, domestic share is expected to be 30% or higher, respectively. Upstream materials high frequency/high frequency/high-speed PCB high-speed copper clad material formula with the core technology involved, for overseas monopoly for a long time, during the high-end breakthrough in the golden age, import substitution space is large, in recent years, domestic science and technology, HuaZhengXin materials for high frequency/high-speed development and production of copper clad accelerated route break through a variety of materials, the market demand is expected to achieve volume after breakthrough from 0 to 1, continue to benefit from import substitution and upgrading of products.