Multilayer Ceramic Capacitor Market Size, Share, Growth & Industry Analysis, By Dielectric Type (Class I, Class II), By Voltage [Low (Less than 500V), Medium (500-1000V), High (More than 1000V)], By End-user Industry, and Regional Analysis, 2024-2031

Multilayer Ceramic Capacitor Market Size

The global multilayer ceramic capacitor market size was valued at USD 17.70 billion in 2023 and is projected to grow from USD 20.05 billion in 2024 to USD 52.89 billion by 2031, exhibiting a CAGR of 14.86% during the forecast period.

The demand for multi-layer ceramic capacitors is increasing, due to their wide applications across industries such as automotive, electronics, telecommunications, and data transmission, driven by technological advancements and the need for compact, reliable components.

In the scope of work, the report includes products offered by companies such as Murata Manufacturing Co., Ltd, Walsin Technologies Corporation, SAMSUNG ELECTRO-MECHANICS, Shenzhen EYANG Technology Development Co. Ltd, KYOCERA AVX Components Corporation, TDK Corporation, Nippon Chemi-Con Corporation, TAIYO YUDEN CO. LTD, Vishay Intertechnology, Inc., Johanson Dielectrics, and others.

The market has applications across various industries, including automotive, telecommunications, electronics, and industrial sectors. They are known for their high capacitance, reliability, and compact size, hence, they are crucial in modern electronic devices, supporting applications such as voltage regulation, noise filtering, and energy storage. Governments globally are promoting digitization, driving the use of electronic devices and consequently increasing the demand for MLCCs.

Additionally, government initiatives to support renewable energy, especially the adoption of electric vehicles (EVs), have further boosted the demand for MLCC, as these vehicles rely on compact, efficient capacitors for power management and battery management. These efforts create an environment conducive to multilayer ceramic capacitor market growth.

• For example, as per the International Energy Agency's Global EV Outlook of 2024, nearly one in five cars sold in 2023 was electric, with electric car sales nearing 14 million, 95% of which were in China, Europe, and the U.S.

A MLCC is an electronic component made from stacked layers of ceramic material that store and regulate electrical energy. It manages the flow of electricity in a circuit by smoothing out voltage and controls the electrical properties of the circuit. These capacitors are used in a variety of devices, including smartphones, computers, EVs, and renewable energy systems.

The market is divided into segments based on dielectric type, voltage, and end-user industry, allowing for the production of specialized capacitors tailored to the needs of sectors such as automotive, telecommunications, electronics, and industrial applications. This segmentation fosters continued innovation across diverse technologies.

Analyst’s Review

The growing use of MLCCs in the automotive industry, particularly for infotainment systems, car bodywork, and powertrains, is driving the multilayer ceramic capacitor market. Many manufacturers are focusing on developing MLCCs specifically for automotive applications, offering various charge capacities, and price ranges. Additionally, MLCCs are increasingly utilized in EVs, as they can withstand the temperature control circuits commonly found in these vehicles.

In military systems, MLCCs are used to filter out unwanted noise and voltage fluctuations in power supplies and voltage regulators, ensuring reliable performance. They also serve in decoupling circuits to isolate components and prevent interference, maintaining the stability of critical systems like communication equipment and radar.

MLCCs are highly regarded for their versatility and efficiency in a wide range of applications. Their compact size, high capacitance, and stable performance under various environmental conditions make them suitable for use in consumer electronics, automotive, and industrial sectors.

MLCCs offer excellent reliability, particularly in high-frequency and high-voltage applications, and are valued for their cost-effectiveness. Their widespread adoption in modern electronic devices is driven by their ability to enhance circuit performance, improve energy efficiency, and support miniaturization trends.

Multilayer Ceramic Capacitor Market Growth Factors

The market is driven by various factors. The rollout of 5G networks is significantly increasing the demand for MLCCs in telecommunications, as these capacitors are crucial for supporting high-frequency applications and ensuring stable connectivity.

Additionally, the rise of the Internet of Things (IoT) is fueling the need for reliable capacitors in connected devices, as they enhance performance and energy efficiency. Another growth factor is the increasing adoption of lead-free MLCCs, which are environmentally friendly and align with global sustainability goals, making them a preferred choice across industries.

• In October 2024, TDK Corporation expanded its CeraLink capacitor series by adding new capacitors, ideal for use in EVs. These lead-free capacitors use lead lanthanum zirconium titanate as the dielectric material, offering improved capacitance and performance, making them suitable for power converters and inverters in automotive, renewable energy, and industrial applications.

The increase in demand for MLCCs has led to significant supply chain shortages. The complex manufacturing process, combined with the slower production pace in the multilayer ceramic capacitor market, makes it difficult to meet this growing demand. This imbalance has put considerable pressure on the supply chain, resulting in delays and limited availability of MLCCs for the electronics and automotive industries.

Improving manufacturing efficiency and scaling up production capacity through advanced production technologies and automated processes can help mitigate these shortages. Investing in new technologies and optimizing production workflows are crucial steps toward ensuring a more stable supply of MLCCs in the future.

Multilayer Ceramic Capacitor Industry Trends

Sustainability and environmental compliance are becoming significant trends in MLCC manufacturing. The industry is increasingly focusing on using environmentally friendly materials and processes that reduce pollutants, ensuring compliance with international standards. Furthermore, sustainable practices are being adopted throughout the supply chain, from raw material sourcing to the end product, contributing to a more eco-conscious approach to production.

• For example, as per the European Commission, the RoHS Directive aims to reduce risks to human health and the environment by limiting hazardous substances in electrical and electronic equipment (EEE). It encourages safer alternatives, promotes recyclability and ensures fair competition among manufacturers and importers in the European market.

The integration of artificial intelligence (AI) in the multilayer ceramic capacitor market is gaining momentum, particularly in optimizing manufacturing processes and enhancing product quality. AI-driven technologies are used for maintenance, improving production efficiency, and monitoring quality control by detecting defects during manufacturing.

AI can also help in the design of more efficient capacitors by simulating various material properties and electrical behaviors, leading to innovations in capacitor performance. Additionally, AI is aiding in the automation of inventory management, supply chain optimization, and demand forecasting, ensuring better alignment with market needs and reducing potential supply shortages.

• For example, in May 2024 Samsung Electro-Mechanics announced that it is strategically focusing on AI and the automotive industry, leveraging its world-leading MLCC technology. The company plans to aggressively target emerging markets, such as AI servers and robots for factory automation, by utilizing its high-reliability technology for automotive applications and ultra-high-capacity solutions for IT. This approach aims to position Samsung Electro-Mechanics at the forefront of key technological advancements in both AI and the automotive industry.

Segmentation Analysis

The global market is segmented based on dielectric type, voltage, end-user industry, and geography.

By Dielectric Type

Based on dielectric type, the market has been segmented into class I and class II. The class I segment led the multilayer ceramic capacitor market in 2023, reaching the valuation of USD 11.58 billion.

Dielectric class 1 MLCCs use stable ceramic materials, like barium titanate, offering consistent capacitance across varying temperatures and voltages. These characteristics make them ideal for precision applications in telecommunications, automotive, and medical devices.

Their growth is driven by the increasing demand for miniaturized, reliable components in advanced electronics; technological innovations improving performance and cost-efficiency; and the need for stability in critical applications such as EVs and aerospace, where high reliability is essential.

By Voltage

Based on voltage, the market is bifurcated into low (less than 500v), medium (500-1000v), and high (more than 1000v). The low (less than 500v) segment secured the largest revenue share of 62.34% in 2023.

MLCCs with a voltage rating of less than 500 volts are experiencing significant growth, due to their use in a wide range of applications. In the automotive industry, MLCCs are increasingly being used in power management systems and sensor modules, driven by the rise of EVs and advanced driver-assistance systems.

In medical devices, these capacitors are crucial for ensuring reliable performance in life-saving equipment such as pacemakers, defibrillators, and diagnostic tools, where precision and stability are vital. As demand for more energy-efficient, reliable, and compact components grows in these industries, MLCCs under 500V continue to expand, driven by their high reliability, small size, and excellent electrical performance.

By End-user Industry

Based on end-user industry, the multilayer ceramic capacitor market has been classified into consumer electronics, automotive, telecommunications, aerospace & defence, industrial, power & utilities, and others. The consumer electronics segment is poised for significant growth at a CAGR of 16.87%.

MLCCs are widely used in the consumer electronics industry, powering devices like smartphones, tablets, laptops, wearables, and home appliances. These capacitors are essential for stable power supply, signal filtering, and noise reduction, contributing to the compact and efficient design of modern electronics.

As consumer electronics continue to advance, with a focus on smaller, more powerful, and energy-efficient devices, MLCCs are increasingly in demand. Their high reliability, and small size make them ideal for meeting the evolving needs of next-generation technologies such as IoT devices, smart homes, and wireless communication systems.

Multilayer Ceramic Capacitor Market Regional Analysis

Based on region, the global market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Asia Pacific accounted for 35.67% share of the multilayer ceramic capacitor market in 2023, with a valuation of USD 6.31 billion. This can be attributed to its strong manufacturing base, advanced technology infrastructure, and the presence of key electronic and automotive giants in the region. Countries like China, Japan, South Korea, and Taiwan are major hubs for electronics production, with high demand for MLCCs in consumer electronics, automotive, and telecommunications.

The region also benefits from significant investments in research and development (R&D), driving innovation in capacitor technologies. Additionally, Asia Pacific is home to a large number of MLCC manufacturers, offering competitive pricing and meeting the growing demand for high-quality, reliable components in various industries.

The multilayer ceramic capacitor market in Europe is poised for significant growth over the forecast period at a CAGR of 15.54%. This is attributed to the increasing adoption of advanced technologies, especially in automotive, telecommunications, and industrial sectors, in Europe. The rise of EVs and autonomous driving technologies in Europe has significantly boosted the demand for MLCCs in automotive applications.

Additionally, Europe strongly emphasizes sustainability and environmental regulations, made by the European Union (EU)., thus encouraging the use of lead-free, eco-friendly components like MLCCs. The region is also focusing on smart manufacturing and IoT applications, further driving the need for compact and reliable capacitors in diverse industries.

Competitive Landscape

The global multilayer ceramic capacitor market report will provide valuable insights with an emphasis on the consolidated nature of the market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.

Strategic initiatives, including investments in R&D activities, establishment of new manufacturing facilities, and supply chain optimization, could create opportunities for market growth.

List of Key Companies in Multilayer Ceramic Capacitor Market

• Murata Manufacturing Co., Ltd
• Walsin Technologies Corporation
• SAMSUNG ELECTRO-MECHANICS
• Shenzhen EYANG Technology Development Co. Ltd
• KYOCERA AVX Components Corporation
• TDK Corporation
• Nippon Chemi-Con Corporation
• TAIYO YUDEN CO. LTD
• Vishay Intertechnology, Inc.
• Johanson Dielectrics

Key Industry Developments

• September 2024 (Launch): Murata Manufacturing Co. Ltd introduced the world’s first 006003-inch size MLCC (0.16 mm x 0.08 mm), 75% smaller than its previous smallest product. As electronic devices become more compact and advanced, the need for ultra-compact MLCCs for high-density mounting has grown, with modern smartphones using up to 1000 units.
• March 2024 (Launch): Samsung Electro-Mechanics developed a series of high-voltage MLCCs designed for use in EVs. The company offers five types of automotive-grade MLCCs, each with a voltage rating of 630V or higher, providing reliable power performance even in demanding and harsh conditions.

The global multilayer ceramic capacitor market is segmented as:

By Dielectric Type

• Class I
• Class II

By Voltage

• Low (Less than 500V)
• Medium (500-1000V)
• High (More than 1000V)

By End-user Industry

• Consumer Electronics
• Automotive
• Telecommunications
• Aerospace & Defence
• Industrial
• Power & Utilities
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America