Multilayer Ceramic Capacitor Materials Market - By Type (General Capacitor, Array, Serial Construction & Mega Cap), By Dielectric Type (Class I (C0G, X8G, U2J) & Class II (X7R, X5R, Y5V, X7S)), By Rated Voltage Range (Low Range, Mid Range & High range & Others), By End-use Industry (Electrical & Electronics, Medical & Healthcare, Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicle), Industrial, Telecommunication & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Multilayer Ceramic Capacitor Materials Market Overview
Multilayer Ceramic Capacitor Materials Market Report Coverage
Key Takeaways
Multilayer Ceramic Capacitor Materials Market Segment Analysis – by Dielectric Type
The class I segment held the largest Multilayer Ceramic Capacitor Materials Market share in 2023 and is expected to grow at an estimated CAGR of 13.2% during 2024-2030. Class I dielectric type multilayer ceramic capacitor materials are widely used in high-rated voltage, owing to their property to withstand voltage of 1000 V & above. For instance, TDK provides high-rated voltage multilayer ceramic capacitor materials. Class I’s C0G characteristics include the handling of the voltage of 1000 V. Moreover, class I multilayer ceramic capacitor materials are very stable dielectric materials as compared to other dielectric types. It has a predictable and linear capacitance change with reference to ambient temperature, no aging impact and a minor capacitance shift with respect to voltage. Thus, the exhibited characteristics of the class I type of dielectric materials make it a preferred choice over the other dielectric types, which is driving its segmental growth.
Multilayer Ceramic Capacitor Materials Market Segment Analysis – by End-use Industry
The automotive industry held a significant Multilayer Ceramic Capacitor Materials Market share in 2023 and is estimated to grow at an estimated CAGR of 13.7% during the forecast period 2024-2030. Multilayer Ceramic Capacitor materials such as ferroelectric barium titanate, polyethylene terephthalate film and others are the components that are utilized in automotive power, comfort, safety and entertainment systems. The rising number of car models becoming equipped with sophisticated arrangements is increasing the number of multilayer ceramic capacitor materials used in these vehicles. Also, these are being used in electric vehicles’ electronics and subsystems due to their high-temperature ratings, easy surface mount form factor and tiny size. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in the USA, the production of motor vehicles increased from 9,157,205 units in 2021 to 10,060,339 units in the year 2022. Moreover, in Austria, motor vehicle production increased from 136,700 units in 2021 to 107,500 units in the year 2022. With the increasing production of automobiles, it is estimated that the requirement for multilayer ceramic capacitor materials in the automotive industry would rise in the upcoming years. This would increase the market growth in the automotive sector.
Multilayer Ceramic Capacitor Materials Market Segment Analysis – by Geography
The Asia-Pacific region dominated the Multilayer Ceramic Capacitor Materials Market share by 45% in the year 2023, owing to the increasing investments in the medical and healthcare industry and rising automotive production in the region. China, South Korea and India are estimated to witness growth in the demand for multilayer ceramic capacitor materials due to the demand from the automotive industry. According to the China Association of Automobile Manufacturers, in January-May 2023, production and sales of automotive cars in China amounted to 10.687 million units and 10.617 million units, increasing by 11.1% yearly. New technologies, such as autonomous driving, electric vehicles, and connected cars, are being driven very strongly in China. The demand for MLCCs is expected to grow further. Also, according to the SIAM, The Indian automobile industry produced a total of 2,59,31,867 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles in April 2022 to March 2023, as against 2,30,40,066 units in April 2021 to March 2022. Moreover, automobile production in South Korea amounted to 3,757,049 units in December 2022, according to recent insights from the South Korean Ministry of Trade, Industry and Energy. Such increasing automotive production in the APAC countries is anticipated to increase the demand for Multilayer Ceramic Capacitor Materials in the forecasted period and is proving to be a market booster for the Multilayer Ceramic Capacitor Materials market size in this region.
Multilayer Ceramic Capacitor Materials Market Drivers
Growing Medical & Healthcare Industry:
The rise in
the aging population and advancements in the medical and healthcare industry
would increase the usage of Multilayer Ceramic Capacitor Materials in implantable medical devices such as stomach stimulators, artificial
cochlea, drop foot appliances and others. They would also have applications in portable and wearable medical
devices such as sleep apnea syndrome devices, electrocardiograms, blood gas
analyzers and others. According to International Trade Administration, in Mexico, the total
local production of medical devices and equipment increased from US$16.80
billion in 2022 to US$15.12 billion in 2023. Additionally, according to
International Trade Administration, in China, the medical device market is
expected to expand by a 2024-2030 CAGR of 6.2%, which should see it rise to
US$38.4 billion by 2025. Thus, with the growing demand for devices and other applications in the medical and healthcare industry,
the Multilayer Ceramic Capacitor Materials market would further rise over the forecast period.
Increasing Electrical & Electronics Industry:
The
electrical and electronics industry uses Multilayer Ceramic Capacitor Materials such as ferroelectric barium titanate, polyethylene terephthalate film
and others in electrical & electronics equipment and instruments including smartphones, portable personal computers and others. This is because such materials are reliable and
cheaper to manufacture. According to the Indian Brand Equity Foundation (IBEF), the Indian
electronics manufacturing industry is projected to reach US$520 billion by
2025. Moreover, in 2022, the Government of Canada announced the Semiconductor Challenge Callout to build on Canada’s domestic
strengths associated with the development and supply of semiconductors, with a
fund of US$150 million through the Strategic Innovation Fund to make targeted
investments. Thus, the growing electrical and electronics industry would require
more multilayer ceramic capacitor materials for making electrical instruments and electronic equipment, which would drive the Multilayer Ceramic Capacitor Materials industry’s growth during the forecast period.
Multilayer Ceramic Capacitor Materials Market Challenge:
Miniaturization of Multilayer Ceramic Capacitor Materials:
The
manufacturers of Multilayer Ceramic Capacitor Materials
are developing new ways to fulfill the trend of smaller and lighter electronic
goods and components. There is a need for higher performance as devices get
smaller. Therefore, capacitors are engineered to have fewer losses and offer
even greater efficiency. In this view, ultra-thin multilayer ceramic capacitors
are widely used in even the smallest security devices. Additionally, the
downsizing of these capacitor materials is difficult in building
high-performance, user-friendly and versatile electronic devices of the correct
sizes. Downsizing of multilayer ceramic capacitors requires the
advancement of mounting technology. Furthermore, the structure of multilayer
ceramic capacitor materials is made up of alternating layers of thin
dielectric ceramic sheets and metal electrodes. Therefore, they face technical
challenges that differ from those encountered in semiconductor miniaturization.
The ceramic sheet shrinks after sintering, which is a challenging component of multilayer
ceramic capacitor materials manufacturing. Thus, the challenges associated with
the miniaturization of Multilayer Ceramic Capacitor Materials would hamper the
market growth.
Multilayer Ceramic Capacitor Materials Market Industry Outlook
Technology launches,
acquisitions and R&D activities are key strategies players adopt in the Multilayer Ceramic Capacitor Materials markets. The top 10
companies in the Multilayer Ceramic Capacitor Materials market are:
- Darfon Electronics Corp.
- Kemet Corporation
- Kyocera Corporation (AVX Corporation)
- Murata Manufacturing Co. Ltd.
- Samsung Electro-Mechanics Co. Ltd.
- Taiyo Yuden Co. Ltd.
- TDK Corporation
- Vishay Intertechnology Inc.
- Walsin Technology Corporation
- Yageo Corporation
Recent Developments
- In September 2021, Yageo Corporation extended its automotive-grade MLCC product range to reach 1,000 volts rated voltage to enhance the quality and reliability of automotive applications. The new ranges cover both class I NPO and class II X7R, starting from the case size (inch) 1206 with capacitances up to 220 pF for NPO and 1 nF for X7R.
- In December 2021, Murata Manufacturing Co. Ltd. manufactured the GCM31CC71C226ME36 multi-layer ceramic capacitor (MLCC) for automotive powertrain/safety applications, with the highest capacitance of 22 F for MLCCs in the 1206-inch (3.2 1.6 mm) size and a 16V voltage rating.
- In April 2022, Yageo Corporation expanded its 01005-commercial high-frequency grade MLCC product range and capacity for X7R, X5R and NPO to meet the demand for miniaturization of components in end electronic devices.
Relevant Reports
Report Code: ATR 0114
Report Code: CMR 0268
Report Code: CMR 88625
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