半導体・半導体製造装置セクター: 2026/2027年のWFE見通しを一段と引き上げ

研报英文原文证据摘录

半導体・半導体製造装置セクター: 2026/2027年のWFE見通しを一段と引き上げ

JP ٜٓ؝٤証券株式会社 ؓةؓقبنؔشؠ 株式調査部

鹿内 美欧AC 2026 年 6 月 17 日 J P M O R G A N

(81-3) 6736 1313

mio.shikanai@jpmorgan.com

図表 64: 前工程 ס 製造装置 ْ٭؜٭٬ 材料 ْ٭؜٭

Front end

Wafer surface oxidation Thin film deposition Photoresist coating

Single-wafer CVD

Wafer furnace *1 *1 Sputtering system *1 Photoresist *2 Coater / developer *1,8 system

Others, ASM International SEMES Others Applied HD Fujifilm ULVAC JSR SCREEN Others KOKUSAI 8% 1% 11% 14.1% Materials, 2% 9% 3% 27% 2% KLA Electric, 5.3%

HPSP 31.1% 3% SEMES

10% Sumitomo Chemical NAURA 2% Tokyo Tokyo $1,617mn $3,532mn Tokyo 11% $13,790mn NAURA 12% $7,336mn $1,006mn Electron Electron, Kingsemi Electron TOK Applied 18% 37% 14.2% 4% Shin-Etsu 92% Lam 26% Materials

KOKUSAI Electric ASM International, Research, 80% 16%

26% 14.7% 20.6%

Ion implantation Ashing / cleaning Etching Exposure / development

Single-wafer cleaning Batch cleaning system Ion implantation Etching system *1,8 Lithography machine *1 system *6 *1 *1

NAURA Others Others Nikon ACM Research SEMES AMEC ▪ Applied Materials 1% 5% 4% 2% Lam 7% 6% ACM Research 6% ▪ Axcelis SCREEN Research

▪ Sumitomo Heavy Industries 9% SCREEN HD NAURA 40% Canon

▪ Ulvac Tokyo Electron HD NAURA 46% 6% $17,855mn 3% $24,107mn 7% $1,055mn ▪ Nissin Ion $4,887mn 42% 18% ASML Tokyo PNC Process 95% Applied Materials Electron Lam Research Systems Tokyo Electron 16% 26% 24% 10% 27%

Planarization Electronode formation Wafer inspection

CMP slurry *2 CMP pad *3 CMP equipment *1 Prober *1,8,9

Others Tokyo Seimitsu Nitta Others KC Tech Others 3% 1% DuPont 15% Entegris Fujibo Ehime 4% Tokyo 3% JSR 6% 31% 3% Electron SEMES 7% Hwatsing Nitta DuPont 38% 12% $1,270mn Entegris Resonac Technology $1,920mn Applied $1,293mn 80% $2,975mn 14% 13% 13% Materials