According to a recent report published by Allied Market Research, titled, Global Multi-layer Ceramic Capacitor Market by Class, Application: Global Opportunity Analysis and Industry Forecast, 2018-2024, the global multilayer ceramic capacitor market was valued at $5,315 million in 2017, and is projected to reach at $7,833 million by 2024, growing at a CAGR of 5.5% from 2018 to 2024.
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At present, Asia-Pacific dominates the market, followed by North America. In 2017, China dominated the Asia-Pacific market and Germany led the overall market in Europe. However, in North America, the U.S. currently leads the market.
Enhanced frequency characteristics and high resistance to abnormal voltage propel the growth of the global MLCC market. In addition, performance advantages of MLCC such as high capacitance & lower impedance and its compact size contribute towards the market growth. However, MLCCs are highly prone to physical damage such as cracking, which hampers the market growth.
Key Findings of the Multi-Layer Ceramic Capacitor Market:
- The NP0 (C0G) segment generated the highest revenue in 2017.
- In 2017, X7R segment was the highest revenue contributor in the class 2 segment.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
- In 2017, Asia-Pacific contributed the highest market share, followed by North America, Europe, and LAMEA.
The key players profiled in the report 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.
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Top Impacting Factors
Enhanced frequency characteristics of MLCCs and high resistance of these capacitors to abnormal voltage impact the market growth. Moreover, performance advantages offered by MLCCs such as high capacitance & lower impedance and their compact size boost the growth of the market. In addition, highly prone to physical damage such as cracking, increasing automotive electronics, and upsurge in demand of the consumer electronics affect the growth of the global market. These factors are anticipated to either drive or hamper the market growth.
Enhanced Frequency Characteristics of MLCCs
MLCCs possess low equivalent series resistance (ESR). ESR is the resistance component of a capacitors internal electrode. Furthermore, a high ESR generates high amount of heat due to resistance component, as well as degrades the frequency of the impedance (the effective resistance of an electric circuit). Hence, there is a requirement of low ESR whenever a capacitor is mounted around any semiconductor chip for the purpose of decoupling to absorb noise. With the help of MLCCs frequency characteristic, the impedance improves, which drives the growth of the global market.
High Resistance to Abnormal Voltage
The potential risk of failure due to breakdown of dielectric can be minimized irrespective of the surge or pulse voltage generated within the device when a multilayer ceramic capacitor is attached in electronics device such as TV and radio. This makes MLCC highly resistant to abnormal voltages, which propels the growth of the market.
Upsurge in Demand for Consumer Electronics
Rise in demand for consumer electronics has been increasing, especially in the developing countries such as India, China, and others. Factors such as increase in disposable income, and emerging middle class further propel the demand for consumer electronics, thereby propelling the market growth. This is attributed to the fact that consumer electronics such as televisions, mobile phones, MP3 players, and other such devices are incorporated with a number of capacitors. In addition, smart TVs and LED TVs have already replaced the traditional CRT TVs. This in turn is anticipated to create numerous opportunities for the key players operating in the global MLCC market.
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