The global aluminum electrolytic capacitor market in 2021 was valued at US$6.38 billion. The market is expected to reach US$9.08 billion by 2027. Similarly, the global film capacitor market was valued at US$3.21 billion in 2021. It is anticipated to reach US$4.00 billion by 2027. The passive component of electronic devices that are used to store electric energy by means of charge separation in an electric field, is referred to as a capacitor. Aluminum electrolytic capacitor are polarized electrolytic capacitors whose anode electrode (+) is made of a pure aluminum foil with an etched surface. And film capacitors is a capacitor that uses a thin plastic film as the dielectric. They are relatively cheap, stable over time and have low self-inductance.
Additionally, size of electronic devices is getting smaller and smaller over the years, which is one of the prominent factors anticipated to propel the growth of aluminum electrolytic capacitors during the forecasted period. Therefore, increase in the miniaturization of electronic devices is another significant factor that would drive the demand for aluminum and film capacitors in the forthcoming years. The aluminum electrolytic capacitor market is expected to grow at a CAGR of approx. 6% during the forecasted period of 2022-2027. Whereas, the global film capacitor market is anticipated to progress at a CAGR of approximately 3%, during the forecasted period of 2022-2027.
Aluminum Electrolytic Capacitor Market Segmentation Analysis:
- By Type: The report provides the bifurcation of the aluminum electrolytic capacitor market into two chief segments based on the type: Non-Solid and Solid. In 2021, non solid aluminum electrolytic capacitors held a major share in the market. On the other hand, the solid aluminum electrolytic capacitors segment is expected to grow at the highest CAGR in the forthcoming years as aluminum electrolytic capacitors with solid conductive polymer electrolytes are becoming increasingly important, especially in devices with a flat design, such as tablet PCs and flat panel displays.
- By Voltage: The report further provides the segmentation based on the voltage: High voltage and Low voltage. High Voltage was the market leader in 2021 and is anticipated to remain dominant throughout the forecasted period. High voltage capacitor are found in inverter main circuits, switching mode power supplies, control circuits, and computer motherboards, among other electronic items and components. The market's expansion is aided by , increased demand for these products and components.
- By End-Users: The report further provides the segmentation based on the end-users: Automotive, Industrial, Consumer Electronics, Telecommunications and Others. The automotive segment held the highest share in the market. Due to superior lifetime and high density power supply, electrolytic capacitors are utilized in electric vehicles, and aluminum electrolytic capacitors are favored due to their great efficiency. Thus, the market's expansion is aided by increasing sales of electric vehicles.
- By Region: The report provides insight into the aluminum electrolytic capacitor market based on the regions namely Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific held the major share in the market owing to the rising demand for electronic devices and increase in manufacturing facilities in economies such as India and China in the region. China, and Japan are expected to play a major role in the market during the forecast period. These regions act as hubs for some of the largest automotive manufacturers and accommodate growing vehicle production and penetration of new electric vehicles over the forecast period.
- In North America, the US is expected to be the fastest growing region in the forecasted period. Whereas, in the Europe region, Germany emerged as a leading market as Germany has grown to be one of the world's leading manufacturers and innovators of high-tech automotive products. Moreover, on the back of Germany, a net +60% rise in Europe's automotive industry for R&D has been seen. This is resulting in growing demand for aluminum capacitors in electric vehicles.
Film Capacitor Market Segmentation Analysis:
- By Type: The report provides the bifurcation of the market into three segments based on the type: Polypropylene Film Capacitors, Polyester Film Capacitors and Others. In 2021, polypropylene film capacitors held the majority of share in the market and is expected to keep its dominance at during the forecast period. The increase in demand for low-voltage power supplies and the need to reduce unwanted noise are some of the major reasons that drive this market's growth.
- By Application: The report further provides the segmentation based on the applications: DC applications and AC applications. The su DC applications held the highest share in the market. The market's expansion is aided by continuous demand for low-cost capacitors, increasing adoption in DC applications, and rising awareness about energy-efficient electronic products.
- By Region: The report provides insight into the film capacitor market based on the regions namely Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific held the major share in the market owing to increase in the demand from end-user industries such as consumer electronics and automobiles, continuous demand for low-cost capacitors, increasing adoption in DC applications, and rising awareness about energy-efficient electronic products.
- The market is expected to lead by China, followed by Japan and South Korea. Whereas, in the North American region, the US was the dominating market owing to increasing demand from the consumer electronics sector and rising use in industrial sectors such as defense, aerospace, and automotive in the country.
Market Dynamics:
- Growth Drivers: The global aluminum & film capacitor market has been growing over the past few years, due to factors such as increasing sales of electric vehicles, rising demand from the consumer electronics, growing use of automation in manufacturing, and many other factors. Owing to the growing concerns over environmental degradation caused by fossil fuels, rising oil prices, favorable government regulations across the globe, the demand for EVs is increasing consistently Metalized film capacitors are widely used in EVs and HEVs to prevent ripple currents from reaching the power source. They are also used to smooth out the DC bus voltage in EVs and to suppress harmful high frequency components generated by switching devices in an EV's drive system. Thus, the increasing sales of EVs has supported the growth of the global aluminium and film capacitor market.
- Challenges: However, the market has been confronted with some challenges specifically, high costs associated with these capacitors, growing shift towards multilayered ceramic capacitors (MLCCs), etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as proliferating demand from aerospace and defense industry, escalating adoption in telecommunication industry, rising miniaturization of electronic devices, etc. Moreover, capacitors are key components in antenna systems and are used for impedance matching, frequency tuning and filtering. Therefore, the surge in the penetration of mobile devices worldwide would further drive the overall aluminum and film capacitor market in the coming years.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has had a major impact on the global economic system, as well as on many businesses. Similarly, the spread of the COVID-19 coronavirus has affected the passive electronic components industry through decreases in operation levels of the supply chain’s top component and raw material production facilities suppliers, and through a fall in sales in the global market in a range of regions and countries, but since then has been supported by Chinese recovery and reactivation in its main industries also drove the demand for capacitors.
Competitive Landscape:
The global aluminum & film capacitor market is highly fragmented, with a large number of small- and medium-sized manufacturers operating in the market.
The key players in the global aluminum & film capacitor market are:
- Panasonic Holdings Corporation
- Nippon Chemi-Con Corporation
- TDK Corporation
- Nichicon Corporation
- Yageo Corporation (Kemet Corporation)
- Vishay Intertechnology, Inc.
- Murata Manufacturing Co., Ltd.
- Hitachi Ltd. (Hitachi Chemical Co., Ltd.)
- Rubycon Corporation
- Xiamen Faratronic Co., Ltd.
- Capxon International Electronic Company Limited
- Cornell Dubilier Electronics, Inc.
- Lelon Electronics Corporation
Some of the strategies among key players in the market for aluminum & film capacitors are product launches, mergers, acquisitions, and collaborations. For instance, in November 2021, Panasonic Corporation announced that their Industry Company has commercialized the JX series of SP-Cap conductive polymer aluminum electrolytic capacitor markets with the highest level of reliability in the industry, which is suitable for use in power circuits for increasingly sophisticated communication base stations such as 5G and servers with increasing data traffic. Whereas, in June 2021, Nichicon Corporation had introduced the GYE series of aluminum capacitors with high ripple current and low ESR performance, which are witnessing increasing demanded in automotive and telecommunications applications.
Table of Contents
1. Executive Summary
Companies Mentioned
- Panasonic Holdings Corporation
- Nippon Chemi-Con Corporation
- TDK Corporation
- Nichicon Corporation
- Yageo Corporation (Kemet Corporation)
- Vishay Intertechnology, Inc.
- Murata Manufacturing Co., Ltd.
- Hitachi Ltd. (Hitachi Chemical Co., Ltd.)
- Rubycon Corporation
- Xiamen Faratronic Co., Ltd.
- Capxon International Electronic Company Limited
- Cornell Dubilier Electronics, Inc.
- Lelon Electronics Corporation
Methodology
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