PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584074
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584074
Multilayer Ceramic Capacitors Market size was valued at USD 14,103.32 Million in 2023, expanding at a CAGR of 13.90% from 2024 to 2032.
Multilayer ceramic capacitors (MLCCs) are passive electronic components designed to store electrical energy, and they are extensively utilized in a variety of electronic devices. Comprising alternating layers of ceramic dielectric and metal electrodes, MLCCs deliver high capacitance in a compact form factor. They are known for their low equivalent series resistance (ESR) and exceptional reliability, making them ideal for diverse Dielectric Types, including consumer electronics, automotive systems, and telecommunications. MLCCs are especially appreciated for their effectiveness in high-frequency Dielectric Types and their durability in challenging environmental conditions, which enhances the efficiency and stability of electronic circuits.
Multilayer Ceramic Capacitors Market- Market Dynamics
Rising demand for mlccs in high-specification gadgets to propel market demand
Multilayer ceramic capacitors (MLCCs) are constructed from alternating layers of ceramic and metal, resulting in capacitors that exhibit low impedance at high operating frequencies, making them ideal for noise suppression in electronic devices. The rising demand for MLCCs in high-specification gadgets, such as smartphones and tablets, is projected to drive market growth. Additionally, their increasing application across various sectors, including consumer electronics, data processing, and telecommunications, is contributing to this expansion. Recent advancements in MLCC designs, which enhance filtering, decoupling, higher capacitance, and bypassing capabilities, have positively impacted the market. These innovations ensure thinner layers and improved charge capacity. MLCCs are also commonly employed in DC-DC and AC-AC converters for electromagnetic interference (EMI) suppression. The integration of MLCCs into smart LCD and LED televisions, alongside the growing popularity of these devices, is expected to further accelerate market growth. Additionally, the emergence of the Internet of Things (IoT) is creating new opportunities, as MLCCs are well-suited for IoT applications due to their long service life and inherent reliability. Moreover, MLCCs find applications in indoor wireless access points, automotive electronic control units, digital cameras, and PC servers, further enhancing the growth prospects of the multilayer ceramic capacitor market. However, a challenge for market growth lies in the need for careful handling of MLCCs, as the ceramic material is susceptible to physical damage.
Multilayer Ceramic Capacitors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 13.90% over the forecast period (2024-2032)
Based on Product Type segmentation, general capacitor was predicted to show maximum market share in the year 2023
Based on Rated Case Size segmentation, 0603 to 1206 inch case size was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Multilayer Ceramic Capacitors Market is segmented on the basis of Product Type, Rated Case Size, Voltage Range, End User, Dielectric Type, and Region.
The market is divided into five categories based on Product Type: General Capacitor, Array, Mega Cap, Serial Construction, Others. The general capacitor segment captured the largest revenue share in 2023, driven by the increasing demand for general capacitors across various applications, including DC-DC converters, cellular phones, gaming consoles, memory modules, LCDs, and televisions. General capacitors play a crucial role in eliminating noise from electronic circuits, thereby enhancing performance and reliability. Their compact sizes facilitate easy installation within electronic devices, making them highly versatile and sought after in modern electronics.
The market is divided into three categories based on Case Size: Less than 0603 Inches, 0603-1206 Inches and More than 1206 Inches. Within this category, the 0603 to 1206 inch case size segment also accounted for a significant portion of the revenue in 2023. This growth can be attributed to the rising demand for smaller components that deliver enhanced performance characteristics while remaining compatible with automated manufacturing processes. These specific MLCCs offer several advantages, including a smaller form factor, higher capacitance values, and lower equivalent series resistance (ESR). Their compact design makes them ideal for space-constrained applications, such as smartphones and other portable devices. As manufacturers continue to prioritize miniaturization and efficiency in design, the popularity of 0603 to 1206 inch case size MLCCs is expected to rise, further solidifying their position in the market.
Multilayer Ceramic Capacitors Market- Geographical Insights
In 2023, the Asia Pacific region accounted for the largest revenue share in the multilayer ceramic capacitors (MLCC) market, primarily due to its status as a key manufacturing hub for electronic devices. The rise of MLCC manufacturers in countries like Japan, South Korea, Taiwan, and India is anticipated to further drive regional growth in the coming years. Additionally, Asia Pacific is projected to be the fastest-growing region during the forecast period, fueled by increasing demand from end-use industries seeking higher capacitance levels and the miniaturization of capacitors. Regional manufacturers are also concentrating on adopting advanced technologies to remain competitive in the market. Moreover, the growing demand for consumer electronics in developing nations, particularly China and India, is expected to significantly boost the consumption of multilayer ceramic capacitors in the region.
Companies in the multilayer ceramic capacitors (MLCC) market implement various strategies to enhance their competitiveness and foster growth. A key focus is on innovation in materials and manufacturing processes, aiming to create capacitors with higher capacitance values and enhanced performance characteristics while minimizing size. Strategic partnerships with original equipment manufacturers (OEMs) and electronic producers facilitate the integration of MLCCs into advanced applications, including electric vehicles and renewable energy systems. Marketing efforts emphasize the advantages of MLCCs, such as reliability and efficiency, targeting engineers and designers across multiple industries. Additionally, companies are increasingly involved in sustainability initiatives, promoting environmentally friendly production methods to align with industry trends and customer preferences for greener technologies.
In May 2023, Avatech announced a substantial investment of 101.8 billion won in the Gumi 5 National Industrial Complex Hi-Tech Valley to expand its MLCC manufacturing facility, with completion planned for 2024. The company recently signed a memorandum of understanding with North Gyeongsang Province and Gumi City, further solidifying the investment agreement. This expansion aims to strengthen Avatech's global supply chain and address the growing demand for MLCCs across various sectors, positioning the company as a key player in the market.