On July 15, Zhejiang Huasheng Technology Co., Ltd. (hereinafter referred to as "Huasheng Technology") announced that the "construction project of 5700 tons of ultra-thin special capacitor film per year" was carried out smoothly as planned. The project has introduced two foreign advanced professional capacitor film production lines, of which the first production line of the project has been normally produced and shipped in batches. At the same time, the commissioning of the second production line of the project has been successfully completed.
The project was initiated in 2022 with a total investment of about 470million yuan. The announcement shows that although the current capacitor film business still accounts for a small proportion of the company's overall revenue, the promotion of the project will help improve the product layout, enhance the comprehensive competitiveness, and cultivate new profit growth points. From the perspective of the company's long-term strategy, the project is also regarded as the key fulcrum for exploring the "second growth curve". In the future, Watson plans to promote the orderly entry of its products into the middle and high-end market of the industry through technological and management innovation.
In addition, Watson technology also plans to invest in the construction of the "construction project with an annual output of 15000 tons of functional electronic film materials" in Haining City, Zhejiang Province, with a total investment of 360million yuan. The main product type is also capacitor film, mainly for the electronics and new energy industries.
Extended reading:
High end capacitor film
High end capacitor film is the core material of thin film capacitor, which is widely used in high-end equipment such as new energy vehicle motor drive system, large energy storage power station, high-speed railway traction converter, photovoltaic inverter and so on, which directly affects the operation efficiency and safety performance of terminal equipment. With the promotion of the "double carbon" goal, power electronic equipment has been upgraded in the direction of lightweight, miniaturization and high voltage withstand, and the demand for the performance of high-end capacitor films has continued to rise, which has promoted the continuous improvement of technology intensity in the industry.
Market data show that the global demand for film for thin film capacitors is growing steadily, reaching 172000 tons in 2024, a year-on-year increase of 13%; It is estimated that it will increase to 186000 tons in 2025 and is expected to exceed 235000 tons in 2029. Among them, the demand growth of high-end capacitor film is significantly higher than the industry average because it is suitable for high-end fields such as new energy. In this context, domestic enterprises have accelerated the localization of high-end Capacitor Films and gradually broken the technological monopoly of overseas enterprises. The industry is in a double dividend cycle of technological breakthroughs and domestic substitution.
In terms of market competition pattern, major domestic enterprises include Haiwei group, dadongnan, Tongfeng electronics, etc., among which Haiwei group has reached the international advanced level in the field of ultra-thin capacitor film. International competitors such as Toray and boluolai occupy the high-end market. In terms of technology development trend, ultra-thin (2-5 μ m), high temperature resistance (125 ℃+), and low dielectric loss are the main trends, and biaxial tensile technology is the core barrier. In terms of policy support, domestic policies encourage the upgrading of new material industry and support technological innovation and domestic substitution. In terms of application cases, Chuangfu Xincai provides products for new energy vehicles and photovoltaic inverters, and Dafu Xincai's ultra-thin capacitor film is used in energy storage and communication fields. In terms of industrial chain coordination, the upstream relies on imported equipment (such as the German Donnell production line), and domestic enterprises such as Zhonglun new material have made breakthroughs in biaxial tensile technology. In terms of challenges and risks, high technical barriers, equipment dependence on imports, large R&D investment and long customer certification cycle. In terms of market data in 2025, the global demand for film for film capacitors is expected to be 186000 tons, and the domestic market scale of BOPP capacitor film has increased significantly.
In short, the high-end capacitor film market has broad prospects, but it also faces many challenges. Domestic enterprises need to continuously increase R&D investment, improve technology level, and strengthen industrial chain coordination to achieve domestic substitution and industrial upgrading. The active layout of Watson technology and other enterprises will inject new vitality into the development of the industry.
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