Multilayer Ceramic Capacitor Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034

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Multilayer ceramic capacitors (MLCCs) are constructed with multiple layers of ceramic material that function as the dielectric, interlaced with conductive electrodes. The compact design of MLCCs makes them particularly advantageous for modern electronic applications due to their high capacitance value.

MARKET OVERVIEW

The multilayer ceramic capacitor market is valued at approximately USD 16 billion in 2023 and is projected to reach USD 61.37 billion by 2034 exhibiting a compound annual growth rate (CAGR) of 13% during the forecast period of 2024-2034. These are widely utilized in many different applications because of their versatility, stability over temperature variations, and suitability for high-frequency applications.


GROWTH DRIVERS

The MLCC market is growing significantly due to the growth of automotive sector. The number of electronic components used in automobiles has significantly increased due to the shift from internal combustion engines to battery electric vehicles and hybrid electric vehicles. As per the SAMSUNG ELECTRO-MECHANICS, the demand for MLCCs is predicted to continue to increase with the improvement of vehicle convenience features. Additionally, the MLCC need per vehicle is anticipated to rise by more than 10,000 MLCCs per vehicle due to the recent increase in the number of electronic control units (ECU) per vehicle, which has increased from 30 to more than 100.

The market for MLCCs has expanded dramatically due to the rapid advancement in consumer electronics including laptops, tablets, smartphones, and wearable devices. These capacitors are necessary for the devices' ability to regulate power, filter signals, and suppress noise. High-end electronic device manufacturers incorporate MLCCs into their products due to their reliability and performance characteristics. As a result, MLCCs are in greater demand in consumer electronics.

The market for multilayer ceramic capacitor is anticipated to further driven by the factors such as the advancements in technology like 5G and IoT, trends toward miniaturization, government support for digital initiatives, reliability factors, emerging markets’ growth potential, and environmental sustainability efforts.

MARKET SEGMENTATION:

By Type -

·         General Capacitor

·         Array

·         Serial Design

·         Megacap

·         Other Types

By Dielectric Type-

·         Class I

o   C0G (NP0)

o   X8G

o   U2J

o   Other Class I

·         Class II

o   X7R

o   X5R

o   Y5V

o   X7S

o   Other Class II

By Rated Voltage -

·         Low Rated Voltage (50V)

·         Medium Rated Voltage (100V to 630V)

·         High Rated Voltage (1000V)

By Application –

·         Electronics

·         Automotive

·         Industrial Equipment

·         Telecommunication

·         Data Transmission

·         Other Applications

By Region –

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Multilayer Ceramic Capacitor Market By Type Segment Review:

The general capacitor segment is expected to dominate the global market for MLCC, primarily due to the rising requirement for general capacitors in applications such as DC-DC converters, cellular telephones, gaming machines, memory modules, LCDs, and televisions. They are easily installed in multiple electronic devices due to their small size and ability to eliminate noise from electronic circuits.


Multilayer Ceramic Capacitor Market By Dielectric  Type Segment Review:

Class I MLCC is expected to grow significantly due to its increasing demand for consumer electronics. There is a growing trend in the automotive industry for incorporating safety features, infotainment systems, and electric vehicle (EV) technologies into automobiles. Class I capacitors are preferred in these applications because of their low losses at high frequencies and stability across a broad temperature range.

Multilayer Ceramic Capacitor Market By Rated Voltage Segment Review:

The low-rated voltage segment focuses primarily on consumer electronics that include smartphones, tablets, and laptops.  The increasing demand for compact and efficient electronic devices is driving the demand for MLCCs with lower voltage ratings.

Multilayer Ceramic Capacitor Market By Application Segment Review:

The electronics industry is one of the largest consumers of multilayer ceramic capacitors. This includes applications for smartphones, tablets, laptops, and other consumer electronics. The increase in portable devices and the trend towards miniaturization is driving demand for compact and efficient capacitors in this sector.

Multilayer Ceramic Capacitor Market By Region Segment Review:

The market is anticipated to be dominated by Asia Pacific due to its robust manufacturing capabilities, and high demand for MLCC from end-use industries like electronics and automotive. North America is poised for rapid growth due to the region’s focus on digitalization and the presence of major electronic component manufacturers.

Multilayer Ceramic Capacitor Market Regional Synopsis:

The multilayer ceramic capacitor market is expected to grow significantly in North America due to the presence of key manufacturers and a strong focus on technological innovation. The market is further expanding due to the increasing adoption of smart electronics, IoT devices, and electric vehicles.

Europe is also leading the way in the adoption of MLCC due to the high concentration of automotive manufacturers and technological advancements. The growth of 5G technology and the development of driver-assistance systems are also driving demand for MLCCs in this region.

The Asia Pacific market is expected to dominate the global market for MLCC due to its robust electronics manufacturing infrastructure and high demand for consumer electronics. The automotive sector’s electrification trend is further driving market growth in the region.

The market in Latin America is developing due to its growing focus on improving local production capabilities, and advancements in technology that necessitate high-quality electronic components.


The market in the Middle East & Africa region is growing moderately due to technological advancements across various sectors including consumer electronics, telecommunications, automotive applications, and industrial uses.

Multilayer Ceramic Capacitor Market Key Challenges:

The market for MLCC faces obstacles because of its rising raw material costs, supply chain disruptions, component shortages, technical manufacturing hurdles, intense competition among established players, regulatory compliance issues, and market volatility.

The increasing cost of raw materials used in producing multilayer ceramic capacitors is one of the biggest obstacles to their widespread adoption. Without optimizing production efficiency or passing costs onto consumers, this high cost of raw material is likely to decrease profit margin for manufacturers. This complexity also acts as a barrier to entry for new players in the market.

Multilayer Ceramic Capacitor Market Competitive Landscape:

The global market for multilayer ceramic capacitor is characterized by a competitive environment that includes a mix of established players and emerging companies, all vying for market share in this rapidly growing industry.

Companies are making significant investments in expanding their manufacturing capabilities to meet the growing demand. Several leading manufacturers are also concentrating on launching products that cater to specific applications. For instance, in September 2024, Murata Manufacturing Co. Ltd announced that it has launched the world’s first 006003-inch size (0.16 mm x 0.08 mm) MLCC to expanded its innovative range of multilayer ceramic capacitors.

Multilayer Ceramic Capacitor Key Players:

·         Samsung Electro-Mechanics

·         Yageo Corporation

·         Murata Manufacturing Co., Ltd.

·         KEMET Corporation

·         AVX Corporation

·         TDK Corporation

·         Walsin

·         Taiyo Yuden

·         Vishay Intertechnology, Inc.

·         Würth Elektronik GmbH & Co. KG

·         Other Key & Niche Players

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