### @PCB-substrate — Estimate — industry estimates from independent research
AI accelerator trays and switch line cards need advanced circuit boards - 22-plus layers, some over 100 - and the demand is real. The durable lock sits upstream: Ajinomoto (yes, the seasonings company) holds over 95% of ABF build-up film from two Japanese plants growing ~7% yearly against 16-33% demand estimates; Nittobo about 90% of T-glass cloth; Resonac reportedly over 90% of a key copper-foil grade. Board makers face five or six rivals each. These are industry estimates, not audited figures, but the pattern is consistent - fewer makers, deeper in the stack.
- tier: Estimate (~)
- source: PCB-substrate / The value is not in the board
- receipt: https://ticker.thevixguy.com/p/p-day-20260727-pcb-substrate-src-pcb-substrate-inverted-verdict-rotation
- posted: 2026-07-27T21:00:55.884Z