Multilayer Ceramic Capacitor Market Size, Share, Competitive Landscape and Trend Analysis Report, by Class, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2032

Multilayer Ceramic Capacitor Market- Global Opportunity Analysis And Industry Forecast, 2024-2032 

The global multi-layer ceramic capacitor (MLCC) market was valued at $14.1 billion in 2023 and is estimated to reach $23.7 billion by 2032, exhibiting a CAGR of 6.1% from 2024 to 2032.

Market Introduction and Definition

Multilayer ceramic capacitors (MLCCs) are crucial components in electronic circuits, providing capacitance for energy storage and filtering in various applications. They are constructed using multiple layers of ceramic material, interleaved with metal electrodes, and stacked to increase capacitance. MLCCs offer advantages such as high capacitance density, low impedance, and excellent stability over a wide range of temperatures and frequencies.

The multilayer ceramic capacitor market has experienced significant growth due to its widespread use in consumer electronics, telecommunications, automotive, and industrial sectors. As technology advances, demand for MLCCs continues to rise, driving innovation in manufacturing processes and materials to meet the evolving needs of electronic devices.

Key Takeaways

• The multilayer ceramic capacitor market study covers 20 countries. The research includes a multilayer ceramic capacitor market size by country in terms of value ($Billion) for the projected period 2024-2032.
• More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major multilayer ceramic capacitor manufacturer along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.

Industry Trends

• In October 2023, Japanese Government announced their plan to delegate advanced electronic components and MLCC as critical goods that will receive support from the state to shore up the supply chain and reduce the fallout from international emergencies.
• In 2019, National Policy on Electronics (NPE) has pushed their vision which included schemes namely, production linked incentive scheme (PLI) , scheme for promotion of manufacturing of electronic components and semiconductors (SPECS) and modified electronics manufacturing clusters scheme (EMC 2.0) were notified in April 2020. A fourth scheme, namely the Production Linked Incentive Scheme (PLI) for IT Hardware was notified in March 2021. These schemes are pushed in order to position India as a global hub for Electronics System Design and Manufacturing (ESDM) .

Key Market Dynamics

MLCC market is primarily propelled by the widespread adoption of consumer electronics globally. Multilayer ceramic capacitor serves as essential components in devices such as smartphones, tablets, laptops, and wearables, providing crucial functions such as power supply decoupling and signal filtering. This insatiable demand for consumer electronics continuously fuels the need for multilayer ceramic capacitors, driving market growth. Additionally, the automotive industry's rapid shift toward electrification and the integration of advanced technologies like electric vehicles (EVs) and advanced driver-assistance systems (ADAS) further contributes to the demand for MLCCs. These systems heavily rely on MLCCs for functions such as power management and electromagnetic interference (EMI) suppression. Overall, the proliferation of consumer electronics and automotive electrification stands as the key drivers propelling the growth of the multilayer ceramic capacitors market.

Multilayer ceramic capacitors are highly prone to physical damage unless and until they are handled with utmost care. The major reason behind cracking of MLCCs is the mechanical stress or thermal stress arising due to deflection of the substrate after mounting and also while mounting the MLCC on a substrate. Thus, susceptibility of MLCCs to physical damage is expected to impede the market growth.

However, the multilayer ceramic capacitor market presents a compelling opportunity for growth and innovation. With the rapid deployment of 5G technology and the expanding industrial automation landscape driven by the Internet of Things (IoT) , the demand for MLCCs is expected to surge. Additionally, the pursuit of miniaturization in electronic devices offers avenues for MLCC manufacturers to develop smaller yet more efficient components with enhanced performance characteristics. This demand for compact, high-capacitance MLCCs fosters innovation in design and manufacturing processes. Moreover, as industries increasingly rely on advanced technologies like electric vehicles (EVs) and advanced driver-assistance systems (ADAS) , the need for MLCCs for power management and electromagnetic interference (EMI) suppression continues to grow. Overall, these factors position the MLCC market for sustained growth and present opportunities for companies to capitalize on emerging trends and technological advancements.

Patent Analysis of Multilayer Ceramic Capacitor Market

The global multilayer ceramic capacitor market is segmented according to the patents filed in Japan, China, U.S., Republic of Korea, PCT, European Patent Office, UK, Germany, Malaysia, and France. Japan, and U.S. has the largest number of patent filings, owing to suitable research infrastructure. Approvals from these authorities are followed/accepted by registration authorities in many of the developing regions/countries. The patents registered by these countries are from 2015 to 2023.

Market Segmentation    

The global multilayer ceramic capacitor industry is segmented on the basis of class, application, and region. Based on class, the market is categorized into class 1 and class 2. Class 1 is subdivided into NP0 (C0G) , P100, and others (N33 and N75) . Class 2 is further classified into X7R, X5R, Y5V, and others (Z5U and X7S) . By application, the market is categorized into consumer electronics, automotive, manufacturing, healthcare, and other (defense and aviation) . Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market Segment Outlook

By class, class 2 segment held highest market share in 2023 and is expected to continue its dominance over the forecast period. Class 2 MLCC offers high volumetric efficiency, that is, large capacitance for a given volume. These capacitors are ideal for use in coupling, decoupling, smoothing, and by-pass applications, thereby driving the growth of the market.

By application, consumer electronics held highest market share in 2023 due to their unique demand for miniaturization and performance. Consumer electronics emphasize compactness without compromising efficiency. Multilayer ceramic capacitors fulfill this need perfectly with their small size, high capacitance, and reliability, making them indispensable components for powering and managing signals in smartphones, tablets, and wearables.

Competitive Landscape

The key players of multilayer ceramic capacitor industry include Murata Manufacturing Co., Ltd., SAMSUNG ELECTRO-MECHANICS, TDK Corporation, Kyocera (AVX) , TAIYO YUDEN CO. LTD., YAGEO Corporation, Walsin Technology Corporation, KEMET, Vishay, and Darfon Electronics Corp. Multilayer ceramic capacitor manufacturers have adopted various strategies such as product launch, expansion, collaboration, partnership, and acquisition to strengthen their foothold in the multilayer ceramic capacitor Industry.

Recent Key Strategies and Developments  

• In May 2023, Murata launched its EVA series MLCC's and these are suitable for a range of applications, namely, inverter (inverter/DC/DC converter) , wireless power transfer (WPT) implementations, on-board charger (OBC) , and battery management system (BMS) . The multi-layer ceramic capacitors are suitable for the improved isolation required by the 800V powertrain migration, while also meeting the miniaturization requirements of modern automotive systems.
• In April 2023, Kyocera Corporation's Electronic Components Department achieved a milestone by creating a new MLCC, a capacitor of EIA 0201 size measuring 0.6 mm x 0.3 mm. This pioneering capacitor sets a new industry standard with its remarkable capacitance, reaching an impressive ten microfarads.
• In April 2022, Yageo Corporation expanded its lineup and production capabilities for 01005 commercial high-frequency grade MLCC products in X7R, X5R, and NPO variants to meet the growing demand for component miniaturization in consumer electronic devices.
• In December 2021, Murata launched the GCM31CC71C226ME36 MLCC, tailored for safety applications and automotive powertrains. This innovative product features a remarkable capacitance of 22 µF, the highest among MLCCs in the compact 1206-inch size category, coupled with a voltage rating of 16V.

Key Sources Referred

• National Electrical Manufacturers Association
• European Electronic Component Manufacturers' Association
• Power Sources Manufacturers Association
• The International Platinum Group Metals Association
• Electronic Components Industry Association
• Electronic Industries Association of India
• IPC International, Inc.
• American Electronics Association

  Multilayer Ceramic Capacitor Market Report Highlights

Aspects	Details
Market Size By 2032	USD 23.7 Billion
Growth Rate	CAGR of 6.1%
Forecast period	2024 - 2032
Report Pages	250
By Class	Class 1 Class 2
By Application	Consumer Electronics Automotive Manufacturing Healthcare Others
By Region	North America  (U.S., Canada, Mexico) Europe  (France, Germany, Italy, Spain, UK, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) LAMEA  (Latin America, Middle East, Africa)
Key Market Players	Samsung Electro-Mechanics Co Ltd, Vishay Intertechnology, Inc., TAIYO YUDEN CO. LTD., KEMET Corporation, Murata Manufacturing Co., Ltd., Walsin Technology Corporation, Kyocera (AVX), YAGEO Corporation, TDK Corporation, Darfon Electronics Corp

Analyst Review

The multilayer ceramic capacitor (MLCC) market possesses high growth potential, owing to increase in demand for multilayer ceramic capacitors from the developing countries such as China, India, and others. Companies in this industry adopt various innovative techniques such as product launch, innovation, and merger to provide customers with advanced and innovative product offerings.

Enhanced frequency characteristics and high resistance to abnormal voltage significantly contribute towards the growth of the global MLCC market. Moreover, performance advantages offered by MLCC such as high capacitance & lower impedance and its compact size are major drivers of this market. However, MLCCs are highly prone to physical damage such as cracking, which impedes growth of this market. Conversely, increase in need for automotive electronics and upsurge in demand for consumer electronics are expected to create lucrative opportunities for the key players operating in the global market.

In addition, increase in trend of Internet of Things (IoT) & 5G technology and upgradation of automotive electronics are expected to boost the demand for MLCCs in the near future. Furthermore, the key players are focusing more on the automotive-use MLCCs rather than the ultra-compact MLCCs. This indicates that the automotive sector possesses high growth potential, which in turn is anticipated to provide lucrative opportunities for the expansion of the MLCC market.

Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period, followed by North America, Europe, and LAMEA. However, LAMEA is expected to grow at a higher rate, predicting a lucrative market growth for multi-layer ceramic capacitors.

Murata Manufacturing Co., Ltd., Samsung Electro-Mechanics, TDK Corporation, Kyocera (AVX), Taiyo Yuden Co. Ltd., YAGEO Corporation, Walsin Technology Corporation, KEMET, Vishay, and Darfon Electronics Corp are the key players that occupy a significant revenue share in the market.

Author Name(s) : Devashree Patwardhan | Sonia Mutreja

Related Tags

• Ceramic
• Multi Layer