AI Drives Demand for Copper-Clad Laminates; Listed Companies Accelerate High-End Capacity Expansion

Bicheng Company has long specialized in the fields of electronic-grade resins and copper-clad laminates (CCL), establishing a complete industry chain spanning "electronic-grade resins—prepregs—copper-clad laminates." Driven by the explosive growth associated with the rapid deployment of AI computing infrastructure and other downstream sectors, the company must accelerate its capacity expansion for high-end products. This is essential to meet rising high-end market demand, strengthen its industry standing, and cultivate new drivers of earnings growth.

Listed companies across the CCL supply chain are announcing capacity expansions and new projects, collectively betting on the high-end computing materials sector. This trend reflects the structural upgrading and accelerated development of the CCL industry amidst the AI ​​computing boom.

The rapid expansion of AI servers, supercomputing clusters, advanced intelligent driving systems, and new energy vehicle electronics has significantly raised the performance requirements for PCBs—and their core upstream materials like electronic fiberglass cloth and copper foil—regarding high-frequency/high-speed capabilities, thermal dissipation, and reliability.

Prismark, a globally renowned market research and consulting firm for the electronics industry, forecasts that the global CCL market will reach approximately US$24.2 billion by 2026, a year-on-year increase of 29.4%; within this segment, high-speed CCLs are projected to account for approximately US$9.5 billion, up 52.6% year-on-year.

The current upswing in the CCL industry is not merely a cyclical rebound but a structural upgrade opportunity driven by the evolution of AI computing power. While industry growth was previously fueled by consumer electronics and traditional telecommunications, demand has now shifted toward computing infrastructure—such as AI servers and high-speed switches. This shift imposes higher technical standards for dielectric properties, signal loss, and thermal stability, resulting in a supply gap for high-end materials. Chinese manufacturers must continue investing in production line upgrades, product certifications, and the R&D of new materials; an integrated approach across the entire supply chain will create a stronger