The multilayer ceramic capacitor (MLCC) market is expected to grow from USD 14.0 billion in 2022 to USD 26.6 billion by 2027, at a CAGR of 13.8% during the forecast period. Growing demand from automotive industry due to advent of EVs is driving the market for multilayer ceramic capacitors. Owing to increasing deployment of electronic devices in automobiles, such as engines, powertrains, and infotainment systems, the demand for multilayer ceramic capacitors is expected to accelerate further. Furthermore, increasing adoption in telecommunications end-user industry due to rapid development of 5G technology is also expected to raise the demand for MLCC systems.
“The market for class II dielectric type MLCCs is expected to grow at higher CAGR during the forecast period”
The market for class II dielectric type MLCCs is expected to grow at the higher CAGR during the forecast period. In Class II MLCCs, multiple temperature classes exist, each describing the degree of sensitivity over a specific temperature range. As a result, these MLCCs offer larger capacitance in compact surface mount packages. Class II MLCCs are gaining more popularity with the rapid miniaturization of electronics and demand for high capacitance in compact form factor. Hence, the market for Class II dielectric type MLCCs is expected to grow at a higher CAGR as compared to Class I dielectric type MLCCs.
“Low rated voltage MLCCs are expected to dominate the Class I dielectric type market throughout the forecast period”
Low rated voltage MLCCs are expected to dominate the Class I dielectric type market throughout the forecast period. The main reason for the dominance of low-voltage MLCCs is their high demand in the electronics industry. Most of the widely adopted electronics devices, especially small consumer electronics such as smartphones, smart wearables, true wireless stereo (TWS) headsets, headphones, and calculators, operate at a lower voltage. Medium-voltage MLCCs account for the second-largest market share as the majority of high end electronic devices and household devices operate within the medium voltage range (100 V–230 V). For example, air conditioners, laptops, PCs, printers, smart television, hard disk drive (HDD)/solid-state drive (SSD), and smart washing machines operates in medium voltage range. High-voltage MLCCs are mainly preferred in industrial equipment, automotive, and other end user industries.
“MLCC Market for electronics end-user industry is expected to account for the largest during the forecast period”
With growing complexity and increasing size of batteries of communications devices, the demand for smaller and higher-capacity MLCCs has increased. According to Murata’s (Japan) estimations, the number of MLCCs installed per smartphone is about 400 to 500 for low-end smartphones, is about 700 to 800 for mid-range smartphones, and is about 900 to 1,100 for high-end smartphones. The smartphone market is one of the biggest consumers of MLCCs in the consumer electronics segment. With the growing demand for smartphones, the market for MLCCs is further going to expand in the foreseeable future. MLCC manufacturers are creating a variety of products in order to meet such demand. For instance, Murata (Japan) offers 0603M (0.6 x 0.3mm) size MLCCs for small and compact electronic devices. In addition, the company also offers 0201M (0.25 x 0.125mm) size MLCCs for wearable devices and compact modules, that are being adopted rapidly by end users. Anticipated growth of the market for smaller components and high-density mounting is likely to increase the demand for MLCCs in the electronics end-user industry during the forecast period.
“MLCC market in Asia Pacific region to register highest CAGR between 2022 and 2027”
The MLCC market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific accounted for ~47% of the MLCC market in 2021. The region is a major manufacturing hub and is expected to provide ample growth opportunities for the MLCC market players. It is one of the fastest-growing regions in terms of development and technological adoption. The main reason for technological advancements of MLCCs in the region is the presence of key OEMs such as Murata (Japan), Samsung Electro-Mechanics (South Korea), TAIYO YUDEN (Japan), YAGEO (Taiwan), Walsin Technology (Taiwan), TDK (Japan), and Kyocera (Japan). Countries like China, India, and Japan are not just manufacturing hubs for several end-user industries but are also prime consumers for the end products and services. APAC is the largest consumer base for the electronics/electrical devices, automotive, and telecommunications industries, to mention a few. The electronics end-user industry is likely to lead to the growth of the MLCC market in the region. In addition, initiatives for ADAS, connected vehicles, BEVs, PHEVs, safety features, infotainment systems, and other automotive electrification are further driving the MLCC market growth in the region to a new extent. Therefore, China, India, and Japan are the major contributors to the Asia Pacific MLCC market.
Breakdown of primaries
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the MLCC market space.
The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
- By Designation: C-level Executives – 40%, Directors – 40%, and Others – 20%
- By Region: Asia Pacific –45%, North America– 25%, Europe – 20%, and Rest of the World – 10%
Key players in the MLCC market are Murata (Japan), Samsung Electro-Mechanics (South Korea), TAIYO YUDEN (Japan), YAGEO (Taiwan), Walsin Technology (Taiwan), TDK (Japan), Vishay Intertechnology (US), Kyocera (Japan), Darfon Electronics (US), Samwha Capacitor Group (South Korea), Nippon Chemi-Con (Japan), MARUWA (Japan), Fujian Torch Electron Technology (China), Holy Stone Enterprise (Taiwan), and Knowles (US). SMEs/startups covered in the study are CalRamic Technologies (US), Viking Tech (Taiwan), W?rth Elektronik Group (Germany), Exxelia (France), Johanson Dielectrics (US), NIC Components (US), Kingtronics Kt (Hong Kong), Semec (China), Shanghai Yongming Electronic (YMIN) (China), EYANG Technology Development (China), and Fenghua Advanced Technology (Hong Kong).
The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the MLCC market. It also includes technology trends, trade data, and patent analysis. This research report categorizes the MLCC market based on dielectric type, rated voltage, end-user industry, and region. A detailed analysis of the key industry players was carried out to provide insights into their business overviews; solutions and services offered; key strategies adopted that include new product launches, deals (acquisitions, partnerships, agreements, and contracts), and others (expansions), and COVID-19 impact on MLCC market.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
- This report segments the MLCC market comprehensively and provides the closest market size projection for all subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
- This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
- The analysis of the top 25 companies, based on market share/rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
- Patent analysis, trade data, pricing analysis, and technological trends that will shape the market in the coming years has also been covered in this report.