PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1877427
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1877427
The Multi-layer Ceramic Capacitor Market size was valued at US$ 12,678.98 Million in 2024, expanding at a CAGR of 5.6% from 2025 to 2032.
An MLCC (multilayer ceramic capacitor) is an important part of an electronic circuit for storing and adjusting electrical energy in a circuit. MLCCs have multiple layers of ceramic materials, typically barium titanate, along with other additives, sandwiched between a pair of metal electrodes. MLCCs have been widely adopted in electronic devices and systems because they are compact, have a high capacitance density, and are very reliable. Multilayer ceramic capacitors (MLCCs) are used in a large variety of electronic products, including medical devices, smartphones, laptops, televisions, automotive electronics, and industrial machinery. MLCCs are involved as important components for functions such as signal separation, power supply smoothing, noise filtering, and voltage stabilisation in circuits, which help other electronic devices work properly in various industries.
Multi-layer Ceramic Capacitor Market- Market Dynamics
Emergence of Internet of Things (IoT)
The growth of the Internet of Things (IoT) is creating significant market opportunities, with high-capacitance MLCCs as the ideal device in the IoT space due to their reliability and long life. These capacitors have a recognised Mean Time to Failure (MTTF) between 10,000 hours and over 1,000,000 hours, in addition to low Equivalent Series Resistance (ESR) and Inductance (ESL), making them very appropriate for intentional applications. According to the GSMA Mobile Economy 2021 report, the number of IoT connections in North America is expected to reach 5.1 billion by 2025, with North America being the leader in MLCC demand in the IoT space. IoT devices connect automotive infotainment systems, smart wearables, home appliances, security cameras, entertainment devices, and other smart devices - enabling communication and collaboration between systems, thus increasing efficiency and lowering operating costs. As we move through the IoT adoption and deployment stage, the demand for MLCCs is projected to increase significantly.
Multi-layer Ceramic Capacitor Market- Country Insights
China is the dominant country in the Asia-Pacific multi-layer ceramic capacitor (MLCC) market, driven by rapid capacity expansion and its position as a global electronics manufacturing hub. The country commands a substantial share of regional MLCC production, supplying large volumes for consumer electronics and telecom sectors. Local manufacturers have grown quickly by focusing on cost-efficient, high-volume output, though Japan still leads in premium, automotive-grade MLCC technology. Rising demand from smartphones, consumer electronics, electric vehicles, and industrial automation continues to fuel growth in China's MLCC market. Government support and private investments are further boosting domestic capabilities, encouraging localisation of the supply chain. However, intense price competition has emerged as Chinese firms scale aggressively. While local players dominate in standard and mid-tier MLCCs, high-reliability and advanced applications still rely heavily on Japanese and Korean suppliers. Looking ahead, China is expected to maintain strong capacity growth, though achieving leadership in high-end segments will depend on narrowing its technological gap.
The Global Multi-layer Ceramic Capacitor Market is segmented on the basis of Type, Voltage Range, Dielectric Type, End Use Industry, and Region.
The market is divided into five categories based on Type: General Capacitor, Array, Serial Construction, Mega Cap and Others. The general capacitor segment accounted for the largest revenue share in 2024, propelled by the increasing usage of these capacitors in DC-DC converters, cellular phones, gaming devices, memory modules, LCDs, and televisions. General capacitors are also essential for noise suppression in electronic circuits and are small, allowing for integration within electronic devices. MLCC arrays, which use passive technology, assemble numerous capacitor elements into a single monolithic structure. These capacitors have advantages, such as enhanced throughput, cost savings, and reduced placement costs.
The market is divided into two categories based on Dielectric Type: X7R, X5R, C0G, Y5V and Others. In 2024, the X7R category accounted for the largest revenue share. X7R dielectric capacitors provide temperature stability and can operate at high temperatures. These ceramic dielectric capacitors are excellent for applications such as frequency-discriminating circuits, bypass, and decoupling. X7R dielectric MLCCs are frequently utilised in filtering and transient voltage suppression.
Multi-layer Ceramic Capacitor Market- Geographical Insights
In 2024, the Asia Pacific region is likely to dominate the global multi-layer ceramic capacitor market due to the growing demand for consumer electronics and growing disposable incomes in places like China, India, and Indonesia. Similarly, government initiatives around renewable energy and electric vehicle uptake are fueling market demand. Lastly, the increase in the consumption of consumer electronics in developing countries such as China and India will drive further growth in regional consumption of multi-layer ceramic capacitors. In October 2023, the Japanese government announced its intention to categorise advanced electronic components as critical goods, which will guarantee support from the national government to strengthen the supply chain. Multilayer capacitors recover an important role in electronic technology by helping stabilise voltage and minimise noise in devices, such as smartphones and electric vehicles, and will likely play a role with this designation.
Significant investments in research & development are being made by leading market players in a bid to diversify their product portfolios, which is forecast to accelerate the growth of the MLCC market. In addition, companies are also pursuing assorted strategic initiatives to expand their global footprint - key activities include launching new products, entering into mergers & acquisitions, signing contracts, increasing investments, and collaborating with other companies. To remain competitive in a fast-changing industry, the Multi-Layer Ceramic Capacitor (MLCC) industry must develop affordable offerings. Manufacturers in the global MLCC market adopt local production as a key strategy to lower operational costs and offer clients lower-cost products. This tactic is becoming increasingly critical as the industry is evolving, as it offers substantial benefits to MLCCs. In 2023, YAGEO Group expanded its MLCC manufacturing capacity with a significant investment in new production lines, aimed at meeting the rising demand across various sectors such as automotive, telecommunications, and consumer electronics.
In May 2023, Avatech invested 101.8 billion won in the Gumi 5 National Industrial Complex Hi-Tech Valley for the extension of an MLCC manufacturing plant that is due to be completed by 2024, and has signed a memorandum of understanding with North Gyeongsang Province and Gumi City to strengthen the investment contract.
In August 2021, YAGEO (Taiwan) and Hon Hai Technology Group (Taiwan) disclosed their joint venture in the establishment of XSemi Corporation, an integrated circuit design company developing analogue and power semiconductors. The company is dedicated to providing support to customers and distributors around the world, including Hon Hai (Foxconn) and YAGEO.
As of September 2021, YAGEO Group has released its automotive-grade multilayer ceramic capacitors with the AC Series name. This product offering has been added to the lineup to bring quality and reliability to automotive applications. The offerings in this series include both Class I NPO and Class II X7R capacitors with up to 220 pF capacitances for the NPO and 1nF capacitors for the X7R.