According to Market Research Future (MRFR), the global multilayer ceramic capacitor (MLCC) market had a valuation of USD 5,624.2 million in 2018 and is expected to reach USD 8,067.2 million with a CAGR of 6.38% from 2017 to 2023 (forecast period). The report explores and examines the effect of the COVID-19 outbreak on the global multilayer ceramic capacitor (MLCC) market, including possible opportunities and threats, drivers, and risks.

Multilayer ceramic capacitor (MLCC) is an essential component in electrical and electronic devices, including mobile devices, automobiles, and household appliances. Capacitors allow the temporary storage of electric charges in electronic circuits; they are often used for noise suppression to remove unwanted signals. 

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Key Players

The industry giants in the multilayer ceramic capacitor industry include Murata Manufacturing Co., Ltd. (Japan), AVX Corporation (US), Samsung Electro-Mechanics (South Korea), TDK Corporation (Japan), API Technologies Corp. (US), YAGEO Corporation (Taiwan), Würth Elektronik GmbH & Co. KG (Germany), Taiyo Yuden Co. Ltd. (Japan), Walsin Technology Corporation (Taiwan), KEMET (US), SAMWHA ELECTRIC (South Korea), Vishay Intertechnology (US), NIC Components Corp. (US), Darfon Electronics Corp. (Taiwan), and MARUWA CO., LTD. (Japan). These players contribute a large share in the growth of multilayer ceramic capacitor market.

Apart from the major key players, there are other players that contribute to the market growth. These include Fenghua Advanced Technology (China), Chaozhou Three-Circle (China), Kyocera (Japan), and Eyang Technology Development Co., Ltd (China).

Market Dynamics

Demand for MLCCs has risen significantly over the last two years due to the growing demand for automotive components, the advent of 5 G, and the rapid adoption of IoT. High capacitance MLCCs are in demand for IoT devices due to their high reliability and long service life. In addition, the need for high-performance electronics and electrical devices generates the need for capacitors in high-end products. MLCC has many advantages, including a wide capacitance and voltage range, highly reliable efficiency, compactness, and stable temperature dependence. Multilayer ceramic capacitors are of two types: Class I and Class II. Class I ceramic capacitors have excellent stability and linear characteristics. Class II capacitors work better than Class I ceramic capacitors but deliver low accuracy. However, there has been a lack of supply of MLCCs due to growing demand in automotive electronics and IoT devices.

Smartphone manufacturers are concentrating on optimizing the user experience by improving the battery's efficiency, creating a need for multilayer ceramic capacitors. In addition, the growth of electric vehicles due to growing government initiatives and the need for optimum power batteries is expected to increase the market for high-end multi-layer ceramic capacitors. Besides consumer and automotive electronics, MLCCs are in high demand in medical electronics and industrial equipment. In high-frequency applications, MLCCs are used in telecommunication networks, cellular base stations, GPS devices, and TV set-top boxes.

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Market Segmentation

The global multilayer ceramic capacitor (MLCC) market has been segmented into type and application. 

By type, the multilayer ceramic capacitor market has been segmented into Class I and Class II. The Class I segment has been further divided into C0G/ NP0, U2J, and others. The Class II segment has been further divided into X7R, X5R, Y5V, Z5U, and others. C0G / NP0 amounted to the largest revenue share in the Class I segment in 2018; its dominance is anticipated to remain over the forecast period. In the Class II segment, the market was dominated by X7R in 2018.

Based on application, the multilayer ceramic capacitor market has been divided into consumer electronics, automotive, manufacturing, healthcare, and others. The consumer electronics segment led the market for multilayer ceramic capacitors in 2018; it is estimated to generate a substantial revenue share to the market during the forecast period due to the immense use of multilayer ceramic capacitors in consumer electronics. The healthcare sector is expected to expand at a significant CAGR during the forecast period.

Regional Analysis

The geographical analysis of the global multilayer ceramic capacitor market has been done for North America, Europe, Asia Pacific, and the rest of the world (including the Middle East, Africa, and South America). 

Among the regions listed, Asia Pacific is expected to lead the market for multilayer ceramic capacitor. China, Japan, South Korea, and Taiwan are some of the world's leading electronics manufacturers, leading to increased demand for multilayer ceramic capacitors in the region. China, the largest manufacturer and exporter of consumer electronics is generating enormous opportunities for the multilayer ceramic capacitor industry's growth. North America is also expected to see a massive demand for multilayer ceramic capacitor technology. In contrast, Europe is expected to rise at a substantial CAGR during the forecast period due to the growing demand for automotive components.

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