> 数据图表各位网友请教一下先进封装市场-2.5D、3D工艺价值量高2026-1-1先进封装市场-2.5D、3D工艺价值量高• 细分工艺来看， 2.5D封装的主要成本来自于中介层制造（Si、模塑中介层及硅桥）和封装基板，而3D封装的主要成本来自键合工艺。封装技术名称ASP（$）3DSHBM3D NAND STACKMOLD INTERPOSER3D SOCSI INTERPOSERACTIVE SI INTERPOSERUHD FO4.8517.182.5739-2486.26174.329.528-72EMBEDDED SI BRIDGE0.92-3.03EMBEDDED SI BRIDGE + ACTIVE SI INTERPOSER40.81数据来源：Yole，金元证券研究所整理成本构成项DRAM Stack TSV + Micro-BumpingFinal PackagingMicro-BumpingHBM StackingHBM TSVTop Metals & PassivationHybrid BondingProbe & Dicing CostCoWoS-L/InFO-L/FOEB RDL CostDies Molding & RDL CostTop Metals & PassivationHybrid BondingRaw Wafer Cost (Si 300mm)Interposer BEOL cost (3 ML)TSV Manufacturing CostMicro-Bumping CostYield losses CostCoW Total CostTSV, Micro-Bumping & AssemblyActive Interposer FEUHD FO ProcessIC Substrate + Final PackagingEMIBFinal PackagingIC SubstrateFinal PackagingActive InterposerSi BridgeIC Substrate成本占比（%）6931364915227844452178361242175168422782245323220839金元证券工业制造
