Global Multilayer Ceramic Capacitor Market Insights and Forecast to 2028

Multilayer Ceramic Capacitor Market Statistics 2028

The global Multilayer Ceramic Capacitor market size is estimated to be worth US$ 9314.5 million in 2022 and is forecast to a readjusted size of US$ 10870 million by 2028 with a CAGR of 2.6% during the forecast period. Key drivers of the multilayer ceramic capacitor market include the advent of IoT devices.

The gradual adoption of 5G technology and the rising use of electronic devices will fuel the growth of the multilayer ceramic capacitor market during the forecast period. 

The increasing use of MLCCs in other industry verticals will drive the growth of the market in the coming years.

Multilayer Ceramic Capacitor Market Trends

IoT

IoT devices are proliferating at a rapid pace. They connect automotive infotainment systems, smart wearables, security cameras, entertainment devices, smart gadgets, etc. MLCCs offer an efficient mean time to failure range and have low equivalent series resistance and inductance. They are the capacitor of choice due to having better stability over temperature. There is a high-frequency performance in comparison to aluminum electrolytic capacitors. IoT enables systems to communicate and collaborate with higher operational efficiency and lower operational costs. Moreover, it regulates the current flow in a circuit and eliminates electromagnetic interference. This can easily be mounted with solder balls to deal with thin devices or modules. These factors will drive the growth of the multilayer ceramic capacitor market during the forecast period. 

The emergence of 5G technology

Commercial services of 5G mobile communication are evolving. The need of the hour is for smartphones to have the capacity to support low latency, high-speed multiple connections. 5 G-enabled mobile phones will require intrinsic and complex electronic circuits with advanced sensors and processing capabilities. The wireless communication will integrate with high-end cameras, and displays and will be used extensively in AR, and VR applications. Miniaturization of circuits is the way forward. Semiconductors can support ultra-high densities and the integration of elements on chips for better functioning and effective utilization. Stable operation of the circuits has to be ensured as per the latest technical specifications in order to reduce the size. Hence MLCCS is coming into play for creating multifunctional, high-performance, user-friendly smartphones of the right size. The greater the functional capacity the more the need for multi-layer ceramic capacitors to stabilize the device. MLCCs are also being used rapidly in other consumer electronic devices like LCD, LED smart TVs, laptops, tablets for external noise suppression, etc. The capacitance expansion is booming with better mounting technology. These factors will in turn drive the growth of the multilayer ceramic capacitor market in the coming years. 

Rising use in various industry verticals

Countries around the world are transitioning to electric vehicles for a sustainable future. Many automobile manufacturers have announced massive electrification targets for their fleets. The total EV sales are expected to boom further owing to supportive government policies and stricter regulations regarding fuel efficiency. In such a scenario MLCCs play a pivotal role in car manufacturing. Self-driving cars with ADAS systems and the power-driving technology of EVs require a huge quantity of ceramic capacitors. This aids in electronic stabilization. Audio and display screens come equipped with MLCCs. Moreover, large imaging equipment, smart tags, and surgical packs are used widely in the healthcare industry. This requires capacitors for smooth functioning. As they have a rigid ceramic body it is used in manufacturing circuits and filters in defense and aviation. The tough inner lining mitigates the board stress thereby preventing cracks or short circuits. This will in turn propel the growth of the multilayer ceramic capacitor market during the forecast period. 

The global shortage of MLCCs

The shortage of ceramic capacitors is creating a ripple effect in several end-user industries. The volatile pricing structure of raw materials like MLCC metal electrodes and palladium is creating a supply-demand mismatch. Owing to the advent of 5G technology and the rising use of consumer electronic devices the demand for ceramic capacitors will far outpace the overall supply. In addition to the disastrous effects of the pandemic, there are complex challenges in the form of layering metal and ceramic together in small sizes. This creates manufacturing pressure. Such rapidly evolving challenges are likely to deter the growth prospects of the multilayer ceramic capacitor market in the future. 

Multilayer Ceramic Capacitor Market Share Analysis

Based on type, the class I segment is expected to dominate in the multilayer ceramic capacitor market share due to having a durable and stable base metal electrode dielectric system. Furthermore, these capacitors have superior low loss performance, higher equivalent series resistance, and efficient self-resonance characteristics. They are ideal for use in inverters, chargers, laptops, mobile phones, smart meters, cellular base stations, etc.

Based on application, the consumer electronics segment will witness considerable growth in the multilayer ceramic capacitor market share owing to increasing applications of MLCCs in PCs, hard disks, mobile phones, video cameras, general electronic circuits, etc. 

Based on region, the Asia-Pacific region will grow the highest due to the commercialization of 5g technology, rising sales of EVs, and the growing number of IoT connections. 

Segment by Type

• Class 1
• Class 2

Segment by Application

• Consumer Electronics
• Automotive
• Manufacturing
• Healthcare
• Other (Defense and Aviation)

BY COMPANY

• Murata Manufacturing Co., Ltd.
• Samsung Electro-Mechanics
• TDK Corporation
• Kyocera (AVX)
• Taiyo Yuden Co. Ltd.
• YAGEO Corporation
• Walsin Technology Corporation
• KEMET
• Vishay
• Darfon Electronics Corp.
• Production by Region

Production by Region

• North America
• Europe
• China
• Japan
• South Korea

Consumption by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Taiwan
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE

Scope of the Multilayer Ceramic Capacitor Market Report