The Global Multilayer Ceramic Capacitor (MLCC) Market was valued at USD 5,624.2 million in 2018; it is expected to reach USD 8,067.2 million by the end of the forecast period at a CAGR of 6.38%.
Multilayer ceramic capacitor (MLCC) is an important component in electrical and electronic devices including mobile devices, automobiles, and household appliances. Capacitors enable temporary storage of electric charges in electronic circuits; they are also used for noise suppression to eliminate unnecessary signals. The demand for MLCCs has increased drastically in the last two years owing to increasing demand for automotive components, the emergence of 5G, and rapid adoption of IoT. High capacitance MLCCs are in demand for IoT devices due to high reliability and long service life offered by them. Also, the need for high-performance electronics and electrical devices is creating the need for capacitors in high-end products. MLCC has several advantages including wide capacitance and voltage range, highly reliable performance, compactness, and stable temperature dependence. Multilayer ceramic capacitors are of two types: Class I and Class II. Class I ceramic capacitors have superior stability and linear characteristics. Class II capacitors perform better than Class I ceramic capacitor, however, they offer low accuracy. However, there has been a shortage of supply of MLCCs due to increasing demand in automotive electronics and IoT devices.
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Smartphone manufacturers are focusing on optimizing the user experience by improving battery performance which creates the need for multilayer ceramic capacitors. Also, the growth of electric vehicles due to increasing government initiatives and the need for optimum power batteries is expected to accelerate the demand for high-end multilayer ceramic capacitors. Apart from consumer and automotive electronics, MLCCs are in high demand in medical electronics and industrial equipment. In high-frequency applications, MLCCs are used in telecommunication networks, cellular base stations, GPS devices, and TV set-top boxes.
The key players in the multilayer ceramic capacitor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Murata Manufacturing Co., Ltd. (Japan), Samsung Electro-Mechanics (South Korea), TDK Corporation (Japan), AVX Corporation (US), API Technologies Corp. (US), Würth Elektronik GmbH & Co. KG (Germany), Taiyo Yuden Co. Ltd. (Japan), YAGEO Corporation (Taiwan), Walsin Technology Corporation (Taiwan), KEMET (US), SAMWHA ELECTRIC (South Korea), Vishay Intertechnology (US), Darfon Electronics Corp. (Taiwan), NIC Components Corp. (US), and MARUWA CO., LTD. (Japan). These players contribute a major share in the growth of multilayer ceramic capacitor market.
Apart from the top key players, there are other players that contribute to the market growth. These include Fenghua Advanced Technology (China), Kyocera (Japan), Chaozhou Three-Circle (China), and Eyang Technology Development Co., Ltd (China).
By type, the market has been segmented into Class I and Class II. The Class I segment has been sub-divided into C0G/ NP0, U2J, and others. The Class II segment has been further divided into X7R, X5R, Y5V, Z5U, and others. C0G/NP0 contributed to the largest revenue share in 2018 under the Class I segment; it is expected to continue its dominance throughout the forecast period. Under the Class II segment, X7R dominated the market in 2018.
By application, the multilayer ceramic capacitor market has been segmented into consumer electronics, automotive, manufacturing, healthcare, and others. The consumer electronics segment dominated the multilayer ceramic capacitor market in 2018; it is expected to contribute a significant revenue share to the market during the forecast period due to the extensive use of multilayer ceramic capacitors in consumer electronics. The healthcare segment is expected to grow at a significant CAGR during the forecast period.
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The global market for multilayer ceramic capacitors is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of multilayer ceramic capacitor market has been done for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and South America). Among the regions mentioned, Asia-Pacific is expected to dominate the multilayer ceramic capacitor market. South Korea, China, Japan, and Taiwan are some of the leading electronics manufacturing countries globally which leads to the increased demand for multilayer ceramic capacitors in this region. China being the largest manufacturer and exporter of consumer electronics is creating immense opportunities for the growth of multilayer ceramic capacitor market. North America is also expected to witness huge demand for multilayer ceramic capacitor technology while Europe is expected to grow at a significant CAGR during the forecast period owing to the rising demand for automotive components.
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