Ajinomoto raises ABF substrate film prices 30%

Ajinomoto’s 30% ABF film price hike signals deepening bottlenecks in advanced packaging materials. As the dielectric backbone of HBM and AI chip substrates, this cost surge will directly pressure TSMC’s CoWoS and Samsung’s I-Cube platforms, forcing trade-offs between yield and expense. Geopolitically, U.S.-Japan export controls on critical materials may restrict Ajinomoto’s capacity allocation—elevating non-market supply risks. Rivals like Panasonic and Shinko are expanding, but ABF’s proprietary resin formulation and lamination know-how create near-insurmountable barriers, securing Ajinomoto’s >70% market dominance short-term. Over the next 12–24 months, substrate makers may adopt hybrid solutions (e.g., ABF+BT), while hyperscalers like NVIDIA or Intel could vertically integrate material sourcing—shifting power from OSATs to upstream material giants.