Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 0-929717-02-3 (2012)

This is a detailed global market analysis on the capacitor industry.  The study addresses the value, volume and pricing for capacitors by dielectric, including ceramic, aluminum, tantalum, DC film and AC film capacitors, as well as emerging markets in niobium capacitors, carbon supercapacitors and additional dielectrics. This study, which is in its 23^rd edition, shows historical consumption value, volume and pricing for capacitors by dielectric; and forecasts value, volume and pricing by dielectric to 2017.  The study shows detailed lead time data for multiple sub-components within each capacitor dielectric by week from 2010 throughout 2012.  The study addresses global markets by world region and key country, including consumption in China, Japan, Germany, Mexico, Korea, USA, Singapore, Philippines, Malaysia and Brazil; and addresses the shift in global consumption by world region.  It also breaks down capacitor consumption value by dielectric type and world region.  The study also shows capacitor consumption by end-use market segment in the consumern AV, telecom, computer, automotive, power, industrial & infrastructure and specialty markets for FY 2013 and with forecasts to 2017.  The study also analyzes the volume of capacitor consumption by major end product within each of these segments, including smartphones, standard handsets, notebook computers, tablet computers, desktop computers, LCD TV Sets, automobiles and other consumer and professional equipment, and forecasts the capacitor volume requirements out to 2017.  The study also breaks down capacitor consumption by dielectric type and end-use market segment.  The competitive environment is analyzed as well and includes global sales and market shares in ceramic capacitors, tantalum capacitors, aluminum capacitors, DC film capacitors and AC film capacitors.  Global market forecasts are given for capacitors by type, including value, volume and pricing to 2017 and quarterly revenue estimates for each of the major vendors is also given.  SeeTable of Contents and List of Tables for Complete Details.  151 Pages.  Published October 2012.  $2750.00 USD.

High Temperature Capacitors (>175 Degrees C): World Markets, Technologies & Opportunities: FY 2012-2017

Forecasted changes in temperature requirements in defense and downhole pump electronics have challenged the capacitor industry to produce new products that can operate in exceedingly higher temperatures for longer time periods of time.  For years the operating temperature and available capacitance values of competing high temperature dielectrics was limited to about 200 degrees C and picofarad levels of capacitance.  There was also the added problem of limited volumetric efficiency of the capacitors being consumed.  Therefore, the trend has been to increase the operating temperature of the capacitors competing in the space, to increase the available capacitance values of the capacitors competing in the space, and to expand the product offering with respect to capacitor case size, configuration and performance for extended periods of time at such high temperatures.  Multiple dielectrics are now employed to operate at elevated temperatures and include ceramic, tantalum, plastic film, mica, solid aluminum, glass, silicon, diamond-like and aluminum oxynitride.  Ceramic, tantalum, plastic film, glass and diamond-like capacitors have established reliability in the high temperature arena, while solid aluminum, silicon and aluminum oxynitride are emerging technologies.  Because of the end-markets into which these high temperature capacitors are sold include both defense and oil & gas related electronic sub-assemblies, these high temperature capacitors are usually subjected to additional rigors of extreme environments in addition to extreme temperatures, including enhanced vibration frequencies, high voltage environments, and radiation exposure.  Subsequently failure modes for these “application specific” capacitors include delamination, tomb-stoning, thermal stress cracking, wild fluctuations in capacitance with temperature; and questionable insulation resistance.  This study addresses the growing market for capacitors in the 175 degree C to 450 degree C operating temperature range, and forecasts the rate of global consumption over the next five years. Published June 2012, 132 Pages I ISBN # 1-893211-90-8 (2012). High Temperature Capacitors (>175 Degrees C): World Markets, Technologies & Opportunities: FY 2012-2017

High Voltage Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 1-893211-90-8 (HV2012)

Paumanok Publications, Inc. announces the release of “High Voltage Capacitors: World Markets, Technologies & Opportunities” that quantifies the global market value for high voltage capacitors across multiple dielectrics, including high voltage plastic film capacitors, high voltage aluminum electrolytic capacitors, high voltage ceramic capacitors, high voltage tantalum wet capacitors, high voltage reconstituted mica capacitors, high voltage glass capacitors and high voltage diamond like carbon capacitors.  The report quantifies and qualifies the technology behind each dielectric and discusses why each is used in high voltage applications.  It also compares each dielectric with respect to its voltage handling capabilities, and addresses the unique qualities of each high voltage dielectric.  The study also offers a detailed market overview that offers an executive summary of the findings in their aggregate form, including overall demand by dielectric, by component configuration, by voltage rating, by world region, by end-use market segment; with overall vendor sales and market shares within each sub-category.  The study also offers forecasts by type and dielectric, by world region, and by end-use market segment to 2017.  The chapter on high voltage plastic film capacitors looks closely at the high voltage polypropylene AC capacitor market in power transmission and distribution, industrial power factor correction, motor run, microwave oven, magnetic ballast and power film applications, and the radial leaded AC & Pulse capacitor markets for degaussing circuits.  The high voltage aluminum electrolytic capacitor market segment focuses on screw terminal and snap-in aluminum capacitor markets worldwide.  The ceramic capacitor segment looks at the global markets for high voltage MLCC, MLC leaded, SLC disc and “doorknob” type high voltage ceramic capacitors.  Other markets discussed include high voltage tantalum wet slug, high voltage mica, high voltage glass and high voltage DLC capacitor markets.  Overall sales and market shares are given within each sub-segment of the market, as are global shipments by world region and end-use market segment.  Detailed forecasts to 2017. ISBN # 1-893211-90-8 (HV2012) 310 Pages, $2500 USD, Published July 

Ceramic Dielectric Materials: World Markets, Technologies & Opportunities: 2012-2017 (ISBN: 1-893211-75-4 2012)

This is the 2012 analysis on the global market for ceramic dielectric materials consumed in the electronic component industry, with emphasis upon dielectric material consumption in the massive ceramic chip capacitor and PTC thermistor markets worldwide. The market is viewed historically from 1999 to 2012 and offers strategic forecasts to 2017. The study looks at the market for feedstock materials, including barites and titanium feedstock materials markets, including availability assessments and pricing forecasts for critical mined materials; and also addresses the advanced intermediate markets for high purity barium carbonate and high purity titanium dioxide powders.  The market assessment continues onward up the supply chain and includes advanced barium titanate production platforms including oxalate, hydrothermal, solid state, and sol-gel, and also looks at the separate formulations markets for COG, X7R, X5R, Y5V, Z5U and X8R dielectrics, and assesses the market for various rare earth and related material additives. Major focus is placed upon Ferro Corporation, Nippon Chemical Industrial, Sakai Chemical, Toho Titanium, Fuji Titanium, KCM Corporation, Prosperity Dielectrics, Solvay Chemicals, Rhodia LiYang, Samsung Fine Chemical, Sukgyung AT, Shandong Sinocera and many additional companies in the vertical supply chain for feedstock, intermediates, titantes, formulations and additives. An updated 2012 view of the global ceramic capacitor market and the global PTC thermistor market, including all major and minor component vendors is also included and subsequent forecasts to 2017 for merchant market and captive market consumption of BT, formulations and additives is also given in the 223 page landmark report. Table of Contents...

Value-Added & Application Specific Ceramic Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 1-893211-90-8 (2012)

This market, technologies & opportunities report from Paumanok Publications, Inc. is an update to the popular 2005 title. This study provides an in-depth analysis of value-added and application specific ceramic capacitor world markets, including high voltage ceramic capacitors >500 Vdc,, high frequency ceramic capacitors > 1 Ghz, high temperature ceramic capacitors >200 Degrees C; Ceramic feed thru capacitors; Ceramic safety capacitors (X&Y) and automotive under-the-hood ceramic capacitors for applications between 125 degrees C and 175 degrees C for applications in specialty segments of the power conversion, telecom infrastructure, medical test & scan, medical implant, defense, lighting and automotive market segments. Value-Added & Application Specific Ceramic Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 1-893211-90-8 (2012)

TANTALUM: World Market Outlook: 2012-2017 ISBN # 0-929717-81-3 (2012)

This study covers the global market for tantalum materials, including tantalum ores and concentrates and engineered tantalum materials for consumption in tantalum capacitor anodes, tantalum sputtering targets, tantalum superalloys, cemented carbide cutting tools, fabricated mill products and tantalum chemicals and compounds. The study forecasts demand for tantalum based upon its unique attributes of capacitance, durability, corrosion and heat resistance; as well as its unique optical properties. The study addresses key issues facing the industry between 2012 and 2017, including the expected price fluctuations for the metal, including its potential deficit amidst mine closings; stringent legislation and vertical integration within the supply chain. The study forecasts demand for tantalum in capacitor anodes, taking into consideration the projected demand for tantalum capacitors consumed in various portable digital electronics, including smartphones and computer tablets, notebook computers and servers; automotive electronic subassemblies; and consumer electronics such as game consoles; and digital cameras; and tempers demand forecasts based upon displacement by alternative technologies such as high capacitance MLCC and conductive polymer aluminum chip capacitors. It also forecasts tantalum consumption in hard metals, including cemented carbide cutting tools, superalloys, and mil products, amidst expected increases in production of aircraft and automobiles to satisfy increasing demand from emerging economies. The study also forecasts primary and secondary tantalum supply. Including primary mining operations and their expected expansion. The study also forecasts tantalum from tin mining and slag operations; tantalum from urban mining (Recycling) and tantalum in inventories and makes projections regarding shortages for each year beginning in 2012 and ending in 2017. The study also documents all known tantalum deposits and makes assumptions regarding which of these deposits have the financial backing and necessary resources to become working mines. Tantalum pricing forecasts for tantalum ores and concentrates are given for 2012 through 2017. See the table of contents for a complete listing of what is included in this study. 136 Pages. Published February 2012. ISBN # 0-929717-81-3 (2012).

Current Slowdown in Ceramic Capacitor Markets To Be Short-lived

Key findings of a new market study by Paumanok Publications, Inc entitled “Ceramic Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 1-893211-25-8” forecasts a 7% global drop in worldwide ceramic capacitor receipts for the fiscal year ending March 2012 due to excess inventories in the supply chain and a slowdown in demand from key end-use markets; however, the long term outlook for the key passive component remains robust. The following figure (Figure 1) illustrates global revenues by quarter for ceramic capacitor manufacturers who are pure plays in the space . The chart illustrates a a slowdown in the market for December 2011 quarter and the March 2012 quarter resulting in a 7% year-over-year market slowdown overall for ceramic capacitor consumption worldwide for FY 2012 (Year ending March).

Figure 1: Top Four Ceramic Capacitor Manufacturers: Sales Trend By Quarter: 2008-2012 (In Millions of USD)

Impact of Recent Events On The Value of Ceramic Capacitor Shipments for FY 2012

There have been some recent events that have impacted the ceramic capacitor market and its global value of consumption for FY 2012. These include the following:

Quarterly Ceramic Capacitor Shipment Data For FY 2012:

The actual reporting for Murata, TDK, Taiyo Yuden, Kyocera/AVX, Walsin , Vishay and Yageo for the December 2011 quarter shows a clear quarter-to-quarter downturn guidance from Kemet and Vishay; as well as forecasting from the major Japanese vendors- Murata, TDK, Taiyo Yuden and Kyocera indicate a significant slowdown in quarterly revenues for the March 2011 quarter due to a severe slowdown in demand brought about by higher than anticipated inventories in the distribution channel.

Impact of Flooding in Thailand:

The impact of the Thailand floods which impacted the market in 2011 and which persist in 2012 was primarily of great impact to the hard disc drive industry for computer and game console markets worldwide. The inability for the computer manufacturers to obtain hard disc drives in turn caused computer companies to refuse shipments of other components, including ceramic capacitors, that were not needed because production was curtailed.

While there was no reports of any damage to any major capacitor factories in Thailand (Murata maintains a factory there), a major tantalum capacitor factory- NEC Tokin was wholly destroyed, as was the tantalum factory of Rohm Company Limited, both of whom had major share in ultra-small case size tantalum chips that are readily replaced by high capacitance ceramic chip capacitors. Regardless, most customers in handsets that consume ultra-small case size tantalum chips found alternative vendors- primarily AVX and Nichicon.

Impact of Tohuku Japan Quake:

The impact of the great Tohoku Japan earthquake on the ceramic capacitor supply chain was in fact quite severe. The impact was not directly on the capacitor manufacturers themselves, but on two major vendors of key raw materials- Nippon Chemical Industrial (Barium Compounds) and Sakai Chemical (Titanium Materials) which are used to produced barium titanate and other titanate materials which are the key building blocks for ceramic capacitors. The two vendors that were impacted are critical for their ability to manufacture nanotechnology type materials consumed in the production of high capacitance chip capacitors. The affect on these two factories was severe and impacted the supply chain not only in Japan, but in Korea, Europe and the USA as well as almost all ceramic capacitor vendors source these two factories. Through major effort though, the impact on the supply chain was contained as the ceramic capacitor manufacturers worked closely with the materials suppliers to get their materials operations back up and running without any major impact on the supply chain. The immediate impact on the supply chain occurred in April 2011 as customers, fearing they would not get parts for the holiday season, purchased extra ceramic capacitors to stock up on inventories. This caused a spike in buying in April and May 2011, but by June the buying spree had subsided. This extra-inventory in the supply chain worked against the ceramic capacitor manufacturers in the December quarter of 2011.

Impact of The European Economic Crisis:

The European economic crisis has negatively impacted the economies of Iceland, Greece, Portugal, and Ireland and created austerity economies in the UK, Italy and France. This is in fact the impact of the reach of various banks into the financial activities of multiple countries. Still, the major consumer of components in Europe is Germany, and they have not been as damaged as other nations due to their bear hold on the European automotive market, which remains a growth sector. Regardless we expect Europe to remain overall flat with respect to component consumption in FY 2013, and to have had a negative impact on the demand cycle in the December 2011 quarter and the March 2012 quarter of the fiscal year.

Impact of Excess Distributor Inventory Levels:

Ceramic capacitor inventories at the major capacitor distributors (Avnet, Arrow, TTI, Future, DigiKey and World Peace Group) have remained at higher levels than usual due to the series of events which have impacted the market since April 2011. Early indications in 2012 suggest that the distributors will begin purchasing again in March 2012 or sometime in the June quarter, depending upon the level of consumer demand. The only end-use markets that remain regionally strong are the automotive markets and the specialty markets, however, these only account for 16% of demand combined and are not significant enough to change the pattern of demand. Demand from handsets, computers and TV sets is required for full growth in ceramic capacitor consumption to continue. This is only a matter of time.

Outlook Remains Robust: 2012-2017

Regardless of the recent downturn impacting the market; the study also predicts that demand for ceramic capacitors will pick up again in FY 2013 and continue to grow at high single digit rates until FY 2015 to satisfy pent up demand for end-products. In The current March 2012 quarter, demand remains low because of the seasonal slowdown in production of wireless handsets, the single largest consumer of MLCC in the world; and the computer markets continue to remain lackluster driven largely by a lack of key components, specifically hard drives due to the effects of the flooding in Thailand. Also demand from the TV set sector has waned largely as a result of a dramatic drop in production of CRT monitors in the 2012 FY. However within a few quarters it is predicted that these problems will iron themselves out. Positive signs of growth include the automotive sector, which has not slowed down at all, and is predicted to grow by more than 6% in unit sales in FY 2013. Also the growth in demand for “Smartphones” which have considerably higher content of ceramic capacitors when compared to traditional phones will grow as a result of Apple’s role out in China and the fact that Smartphones have considerable room for growth in order to displace the majority of traditional phones currently on the market. Also, the TV set market is about to undergo a substantial change in demand, first of all because inventories are extremely low for flat panel displays and feature rich designs, including 3D TV, are about to hit the market. The computer market is experiencing inner turmoil as tablets and ultra-books continue to find their niche at the expense of desktop and notebook computers; however the rapid growth in tablet demand, and the expected doubling of output for FY 2013 offsets the fact that they have lower component counts when compared to desktop and notebook computers. Niche markets for ceramic capacitors, where value-added and application specific component consumption remains strong include the oil & gas industry and medical electronics. Taken collectively, the conclusion is one of anticipated growth over the next five years to 2017.

Figure 2: Forecasted AAG in Worldwide Ceramic Capacitor Revenues: FY2012-2017

Source: Paumanok Publications, Inc. “Ceramic Capacitors: World Markets, Technologies & Opportunities: 2012-2017 ISBN # 1-893211-25-8 (February 2012)”

Demand from the handset, computer and TV set business will fuel growth over the next five years, with the rapid conversion to smartphones, tablet computing and 3D TV sets driving demand for MLCC.