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A04301 | Pages: 250 | Charts: 56 | Tables: 108 |
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.
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 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.
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.
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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.
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.
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.
Key Market Segments
Key Market Players