CITIC Securities: Geopolitical impact on supply combined with rapidly increasing demand leads to potential shortages of helium and bromine

Driven by AI data centers, the global semiconductor sales are expected to reach 1 trillion USD this year, doubling to 2 trillion USD by 2035. While geopolitical risks are unlikely to hinder the industry's prosperity this year, raw material shortages may impact long-term prospects. Countries are working to address shortages of critical minerals and essential gases such as bromine and helium. In March, helium prices surged significantly due to tensions in the Middle East, and bromine is also facing shortage risks.