Multi-Layer Ceramic Capacitor Market Size, Share, and Trends 2024 to 2034

Multi-Layer Ceramic Capacitor Market Size to Companies

The global multi-layer ceramic capacitor market size is estimated at USD 12.18 billion in 2024 and is expected to reach around USD 20.99 billion by 2034, growing at a CAGR of 5.59% from 2024 to 2034. The increasing demand for MLCCs in high-specification gadgets such as smartphones and tablets is expected to drive the multi-layer ceramic capacitor market.

Multi-Layer Ceramic Capacitor Market Key Takeaways

• Asia Pacific led the market with the largest market share of 38% in 2023.
• The European market is expected to grow significantly in the coming years.
• By type, the general capacitor segment has contributed more than 32% of the market share in 2023.
• By type, the mega-cap segment is expected to witness a notable CAGR of 6.24% over the forecast period.
• By rated voltage range, the low range (up to 50 v) segment has held more than 47% of the market share in 2023.
• By case size, in 2023, the 0603-1206 inches segment has held the largest share of 57% in 2023.
• By case size, the 0603 inches segment is projected to experience the fastest CAGR of 7% during the forecast period.
• By dielectric type, the X7R segment has captured the largest market share of 33% in 2023.
• By dielectric type, the Y5V segment is expected the expand at the notable CAGR of 6.25% during the forecast period.
• By end-use, the electronic segment has accounted for more than 33% of the market share in 2023.
• By end-use, the automotive segment is growing at a remarkable CAGR of 6.34% during the forecast period.

Asia Pacific Multi-Layer Ceramic Capacitor Market Size and Growth 2024 to 2034

The Asia Pacific multi-layer ceramic capacitor market size reached USD 4.38 billion in 2023 and is expected to be worth around USD 7.98 billion by 2034 at a CAGR of 6% from 2024 to 2034.

Asia Pacific led the global multi-layer ceramic capacitor market in 2023. The market growth is being propelled by rising consumer electronics demand and increasing disposable income in countries like China, India, and Indonesia. Also, government initiatives promoting renewable energy sources have boosted the demand for electric vehicles, contributing to market expansion. The growing demand for consumer electronics in developing nations such as China and India is also expected to drive regional consumption of multilayer ceramic capacitors.

• In October 2023, The Japanese government plans to designate advanced electronic components as critical goods that will receive support from the state to shore up the supply chain and minimize the fallout from international emergencies. Multilayer ceramic capacitors, which stabilize voltages and reduce noise in a wide range of devices such as smartphones and electric vehicles, are likely to be included in the designation.

Europe is expected to grow significantly in the coming years. MLCC companies in the region are focusing on developing new types of ceramic capacitors to meet diverse customer needs. These include high-capacity capacitors, ultra-small capacitors, and low-inductance condensers. Moreover, there's heavy investment in research and development to create MLCCs that can compete effectively in the industry. As communication devices and semiconductor technology advance and become smaller, the demand for MLCCs is expected to rise.

Market Market Overview

An MLCC, or multilayer ceramic capacitor, is a vital component in electronic circuits that stores and regulates electrical energy. It's made up of layers of ceramic material, typically containing barium titanate and other additives, stacked between metal electrodes. MLCCs are widely used in various electronic devices and systems because they're small yet have a high capacitance density and are highly reliable.

Multilayer ceramic capacitors are found in many electronic items like medical devices, phones, laptops, TVs, car electronics, and industrial equipment. MLCCs serve important functions like separating signals, smoothing power supply fluctuations, filtering noise, and stabilizing voltage levels within electronic circuits, ensuring that electronic devices perform optimally across different sectors.

Multi-Layer Ceramic Capacitor Market Growth Factors

• The growth of consumer electronics, including laptops, tablets, and smartphones, is increasing the demand for the multi-layer ceramic capacitor market.
•  Increasing demand for MLCC in different application areas like data processing and Telecommunications are propelling market growth.
• The utilization of advanced designs with higher capacitance, decoupling, and filtering capacities can also contribute to the expansion of the multi-layer ceramic capacitor market.
• The rising popularity of smart LED and LCD televisions globally is fueling market growth soon.
• Advantages of MLCCs, such as high durability against electric shocks, are expected to drive the growth of the multi-layer ceramic capacitor market.

Market Scope

Market Dynamics

Driver

Rising demand for consumer electronics

The demand for the multi-layer ceramic capacitor market is on the rise, especially in developing countries like India, China, and others. This is driven by increasing disposable income and the growth of the middle class, which leads to higher demand for gadgets like televisions, mobile phones, and MP3 players. As a result, there are more opportunities for leading companies in the multilayer ceramic capacitor industry. Additionally, modern MLCCs are designed to handle high charges in compact sizes, allowing design engineers to achieve better performance. Therefore, capacitor manufacturers are focusing on developing ceramic formulations that can operate at higher frequencies to meet this growing demand in the market.

• In September 2023, TDK Corporation expanded its MLCC lineup with new state-of-the-art, low-resistance soft termination types. Unlike conventional soft termination MLCCs with all terminal electrodes covered with resin layers, the new design features resin layers covering only a board mounting side, allowing electric current to pass outside the layers and reducing electrical resistance.

Restraint

Fluctuating prices of raw materials

The prices of raw materials like nickel, palladium, and ceramic powders used in MLCC manufacturing can fluctuate significantly due to various factors such as market demand, disruptions in the supply chain, and geopolitical conflicts; these fluctuations directly impact the manufacturing costs and profit margins of MLCCs, which in turn limits their market growth. MLCC is highly competitive, with both established players and emerging ones for market share. The constant need for innovation to meet the evolving demands of electronic device manufacturers adds another layer of complexity to maintaining profitability and market position. This factor can impede the growth of the multi-layer ceramic capacitor market.

Opportunity

Opportunities in the renewable energy sector

The global multi-layer ceramic capacitor market offers significant opportunities for both established market leaders and new entrants. One such opportunity lies in the renewable energy sector, particularly in wind and solar power applications, where there is a growing demand for MLCCs. These capacitors play a critical role in power electronics, which is necessary for energy storage and conversion in renewable energy systems.

Furthermore, the medical devices industry presents a lucrative opportunity for MLCCs due to their high performance and reliability, which are essential characteristics of medical equipment. Another growing market is in the Internet of Things (IoT) and 5G applications, where there is increasing demand for high-performance and compact electronic components like MLCCs.

• In January 2024, Samsung Electro-Mechanics started to enter the green hydrogen business by developing its own solid oxide water electrolysis (SOEC) technology that produces green hydrogen. The SOEC technology uses element technology of multilayer ceramic capacitor (MLCC), a major product of Samsung Electro-Mechanics.

Type Insights

The general capacitor segment dominated the multi-layer ceramic capacitor market in 2023 and is expected to maintain its position throughout the forecast period. This is due to the increasing need for general capacitors in cellular telephones, gaming machines, LCDs, TVs, etc. General capacitors also help to cut the noise from electronic circuitry, and their smaller size allows for easy use in electronic systems.

• In November 2023, ROHM Semiconductor announced the new BTD1RVFL series silicon capacitors. These devices are increasingly being adopted in smartphones and wearable devices. Silicon semiconductor processing technology, which has been cultivated over many years, has enabled higher performance in smaller sizes.

The mega cap segment is expected to witness notable growth over the forecast period. This is attributed to the growing requirement for higher capacitance in electronic devices. And the need for innovative technologies like IoT and 5G. These capacitors also have greater energy stores, compact designs, and enhanced performance, making them useful in many industries.

Rated Voltage Range Insights

The low range (up to 50 v) segment led the multi-layer ceramic capacitor market in 2023. Low-range voltage capacitors are extensively utilized in various industries such as consumer electronics, automotive, industrial, and telecommunications sectors. The popularity of low-range MLCCs can be attributed to their versatility, small size, wide range of capacitance, and competitive pricing.

Moreover, recent advancements in the manufacturing processes have made it easier to produce low-range MLCCs in large quantities, which has further propelled their dominance in the market.

Case Size Insights

The 0603-1206 inches segment held the largest share of the multi-layer ceramic capacitor market in 2023. The growth of MLCCs is driven by the rising need for smaller, more efficient components that work well with automated manufacturing methods. These capacitors come in smaller sizes, offer higher capacitance and lower resistance, and are easier to install. These qualities make them ideal for applications with limited space and contribute to their growing demand in the market.

The 0603 inches segment is projected to experience the fastest growth during the given period. The fast expansion can be linked to various factors, such as progress in making things smaller and more advanced in microelectronics, the rise in demand for portable gadgets, the growing need for compact components, and the increasing use of IoT devices and smart technologies.

Dielectric Type Insights

The X7R segment contributed the largest revenue share of the multi-layer ceramic capacitor market in 2023. X7R dielectric capacitors have a maximum operating temperature and are known for their stability across different temperatures. They are commonly used in circuits that need to distinguish between different frequencies, as well as in applications like bypassing and decoupling. Also, these capacitors are used in tasks like filtering and suppressing transient voltage spikes.

The Y5V segment is witnessing the fastest growth. Y5v has a miniature size and wide capacitance, and it is also available for wave and vapor solders. These capacitors are extensively utilized in applications that require a limited temperature range. These dielectric capacitors are easy to handle and easy to inventory control.

End-use Insights

The electronic segment dominated the multi-layer ceramic capacitor market in 2023. The automotive industry's move towards hybrid and electric vehicles is boosting the demand for MLCCs in electronic applications. As vehicles become more electrified, there's a growing need for components that can handle higher temperatures and voltages without sacrificing reliability or taking up too much space. MLCCs, with their ability to withstand high temperatures and their convenient surface-mount designs, have emerged as the go-to choice for electronic systems in electric vehicles (EVs) and related subsystems.

The automotive segment is the fastest-growing segment during the forecast period. The automotive industry is experiencing growth due to factors like the rising popularity of electric vehicles, the inclusion of advanced infotainment features in vehicles, and the integration of advanced driver assistance systems (ADAS).

• In October 2023, Murata Launched the World’s Smallest and Thinnest 1µF as LW reversed MLCC for the Automotive industry. The components feature a reversed termination for low ESL and are in a world-first 0.18mm profile package. The footprint is just 0.5 x 1.0mm for 1µF capacitance, making the parts the smallest in the market.

Multi-Layer Ceramic Capacitor Market Companies

• Murata Manufacturing Co., Ltd.
• TAIYO YUDEN CO., LTD.
• KYOCERA Corporation
• YAGEO Group
• Walsin Technology Corporation
• SAMSUNG ELECTRO-MECHANICS
• Future Electronics
• TDK Corporation
• Vishay Intertechnology, Inc

Multi-Layer Ceramic Capacitor Market Recent Developments

• In May 2023, Avatech announced a significant investment of 101.8 billion won in the Gumi 5 National Industrial Complex Hi-Tech Valley to expand its MLCC manufacturing plant. The expansion is planned to be completed by 2024. Avatech recently signed a memorandum of understanding with North Gyeongsang Province and Gumi City, reinforcing the investment agreement.
• In April 2023, Kyocera Corporation announced a significant achievement in electronic components. The company's Electronic Components Department successfully developed MLCC, a new capacitor with an EIA 0201 size measuring 0.6 mm x 0.3 mm. This innovative capacitor boasts the highest capacitance in the industry, reaching an impressive ten microfarads.
• In August 2022, KYOCERA Corporation build a new production facility at its Kokubu Plant Campus in Kagoshima, Japan, to boost its production capacity of multilayer ceramic capacitors (MLCCs), strengthen its engineering research capabilities, and ensure enough manufacturing space as its business grows.
• In April 2022, Samsung Electro-Mechanics created high-temperature Multi-Layer Ceramic Capacitors (MLCC) for powertrains. It has created 13 varieties of automotive MLCCs that are guaranteed to work in a 150°C environment, and it intends to sell them to international car suppliers.

Segments Covered in the Report

By Type

• General Capacitor
• Array
• Serial Construction
• Mega Cap
• Others

By Rated Voltage Range

• Low Range (up to 50 v)
• Mid Range (100 v - 630 v)
• High Range (1000 v & above)

By Case Size

• Less Than 0603 Inches
• 0603-1206 Inches
• More Than 1206 Inches

By Dielectric Type

• X7R
• X5R
• C0G
• Y5V
• Others

By End-use

• Electronics
• Automotive
• Industrial
• Telecommunication
• Data transmission
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa