Ceramic Capacitors: World Markets By Performance

Transcription

1 Ceramic Capacitors: World Markets By Performance Dennis M. Zogbi CEO and Founder Paumanok Publications, Inc Davis Drive, #349 Morrisville, NC USA (919) (919) Fax Paumanok Publications, Inc., includes the Industrial Market Research Division for Capacitors, Resistors, Inductors and Circuit Protection Devices; The Mergers & Acquisitions Due Diligence Division; The Single Client Consulting Division; The On-Site Presentation/Seminar and Events Division; The Monthly Report (MLCC, Chip Resistor and Tantalum Capacitor Supply Chain Monitoring); The Specialty Markets (Defense, Medical, Mining and Automotive Power); and 75% Ownership of Passive Component Industry Magazine. Contact: Dennis M. Zogbi, President For General Consumption Pages: 171 Price: $

2 Published: December 2009 Edition Paumanok Publications, Inc. December 2009 Edition ISBN # B (December 2009) 2

3 Ceramic Capacitors: World Markets, Technologies & Opportunities: Table of Contents: CONTACT: DENNIS M. ZOGBI, PRESIDENT...1 PUBLISHED: DECEMBER 2009 EDITION...2 TECHNOLOGY OVERVIEW: THE TWO TECHNICAL ECONOMIC MAXIMS ASSOCIATED WITH PASSIVE COMPONENTS:...12 Ubiquitous Nature of Passive Components:...12 Relationship Between Capacitance and Available Surface Area:...12 CERAMIC CAPACITORS (THE INDUSTRY WORKHORSE):...14 Ceramic Capacitor Types:...14 Multilayered Ceramic Capacitors: Single Layered Ceramic Capacitors: Ceramic Capacitor Configurations:...15 Surface Mount Ceramic Chip Capacitors: Axial and Radial Leaded Ceramic Capacitors: MLCC Case Sizes...17 CERAMIC CAPACITOR METALLIZATION:...18 Palladium Electrodes:...19 Nickel Electrodes:...19 Copper Electrodes:...19 Termination Materials:...19 CERAMIC DIELECTRIC MATERIALS:...20 CERAMIC CAPACITOR CLASSES...21 Class I Ceramics (NPO/COG):...21 Developments in COG BME MLCC...22 Class II Ceramics (X7R/Z5U/Y5V)...22 X7R Capacitors (BX)...22 Developments in X7R BME MLCC...23 The Development of The Popular X5R High Capacitance MLCC:...23 Z5U (BZ) Capacitors...23 Y5V Capacitors...24 Developments in Y5V BME MLCC...24 Class III Ceramics...24 WEIGHTS & MEASURES OF MLCC CASE SIZES...25 TECHNICAL TRENDS AND DIRECTIONS IN THE GLOBAL CERAMIC CAPACITOR INDUSTRY IN Introduction:...25 Miniaturization:...26 Developments in Enhanced MLCC Performance:...26 Integration Trends:...26 Market Drivers Behind Ceramic Capacitor Innovation:...27 Technology Platforms Supporting Innovation:...27 An Innovative Slowdown for FY 2010:

4 What The Future Holds for MLCC: A 22 Year Overview of Technology Development: The Multiple Compounding Affect On Demand: The Industry Demands More From MLCC: For The Future; More of The Same; But With Some Added Twists: CERAMIC CAPACITORS: WORLD MARKET OVERVIEW: CERAMICS AS A SUB-SET OF THE GLOBAL CAPACITOR INDUSTRY: Ceramic Capacitors: Market Growth in The Worldwide Ceramic Capacitor Industry: FY Ending March...31 TOP GLOBAL CERAMIC CAPACITOR MANUFACTURERS: CHANGES IN REVENUES: 2009 FY...33 CERAMIC CAPACITORS: DEMAND BY TYPE: High Capacitance Ceramic Capacitor Markets 1.0 to 100 Microfarad: Low Capacitance Ceramic Capacitor Markets: Picofarad Markets: Application Specific Ceramic Capacitor Markets: Ceramic Capacitors: World Market Value By Type: GLOBAL CERAMIC CAPACITOR CONSUMPTION VALUE & VOLUME BY CONFIGURATION: Multilayered Ceramic Chip...36 Single Layered Disc...36 Multilayered Ceramic Radial Leaded...37 Multilayered Ceramic Axial Leaded...37 Multichip Capacitor Array...37 CERAMIC CAPACITOR CONSUMPTION BY PERFORMANCE CHARACTERISTIC (X7R, X5R,Y5V, NPO, ADDITIONAL VARIATIONS)...38 X7R Capacitor Markets: X5R Capacitor Markets: Y5V Capacitor Markets: NPO Capacitor Markets: Other Capacitor Markets With Respect To Performance: CERAMIC CAPACITOR DEMAND BY END-USE MARKET SEGMENT: Ceramic Capacitor Consumption Value and Volume By End-Use Market Segment: Top 16 Product Markets For Ceramic Capacitors By End-Use Market Segment: Methodology: Reported Market Shares By End-Use Market Segment For The Top 18 Passive Component Manufacturers...46 Ceramic Capacitor Content By Key End-Product: Relationship Between End Product And Capacitor Dollars Per Unit: The fundmental shift in capacitor value per vehicle. Cap values will shift from $9.00 to $ as we move to HEV- the opportunity is in millions of cars; the market opportunity now is in China and Russia...48 CERAMIC CAPACITORS: REGIONAL MARKETS: Ceramic Capacitor Markets By World Region: Revenue Comparison By Top Producer and World Region...50 Shifts In Estimated Ceramic Capacitor Sales By World Region: The Ceramic Capacitor Market In Greater China: The Ceramic Capacitor Market In Japan: The Ceramic Capacitor Market in Europe: The Ceramic Capacitor Market in North And South America: Other Solid Markets In The World: Emerging Markets: BRIC Opportunities:

5 CERAMIC CAPACITOR MARKET SHARES BY VENDOR: CERAMIC CAPACITORS: 2009 SALES AND MARKET SHARES...53 MARKET SHARES BY CERAMIC CAPACITOR TYPE: Market Shares In Ceramic Capacitors: 2009 Estimates By Type: High Cap 1-100!F; Low Cap-Picofarad MLCC <1!F; and Value-Added Ceramic Capacitors:...56 Market Shares in High Capacitance MLCC: Manufacturers of High Capacitance MLCC Between 1 and 100 Microfarad: 2009 Sales and Market Shares (In Millions of USD)...57 Low Capacitance (Picofarad) MLCC Market Shares: Manufacturers of Low Capacitance MLCC (Picofarad Business Segment): 2009 Sales and Market Shares (In Millions of USD)...59 Value-Added and Application Specific Ceramic Capacitor Market Shares: Manufacturers of Low Capacitance MLCC (Picofarad Business Segment): 2009 Sales and Market Shares (In Millions of USD)...61 CHANGING MARKET SHARES OVER TIME: Ceramic Capacitors: Global Market Shares: FY...62 CERAMIC CAPACITOR VENDORS: SALES AND MARKET SHARES: FY 2010 FORECAST (A REMARKABLE CHANGE)...62 Ceramic Capacitors: Market Share Forecasts for FY 2010 (In Millions of USD)...63 PRODUCTION CAPACITY AND CAPACITY EXPANSION BY VENDOR: Increases in Ceramic Capacitor Unit Capacity To Produce By Vendor: Notes on Capacity To Produce In The Ceramic Capacitor Industry: 2009:...64 CHANGES IN TECHNOLOGY IMPACTING MARKETS IN MLCC TRENDS IN BME MLCC CAPACITANCE VALUES: ; ; CY...65 Competitive Environment In X5R High Capacitance MLCC Markets By Maximum!F: 2005 Versus Changes in Technology By Manufacturer In X5R High Capacitance MLCC Markets By Maximum!F: 2005 Versus Competitive Environment In Y5V High Capacitance MLCC Markets By Maximum!F: 2005 Versus Competitive Environment In Y5V High Capacitance MLCC Markets By Maximum!F: 2005 Versus Competitive Environment In X7R High Capacitance MLCC Markets By Maximum!F: Competitive Environment In X7R High Capacitance MLCC Markets By Maximum!F: 2005 Versus CHANGES IN THE SUPPLY CHAIN: CERAMIC DIELECTRIC MATERIALS: INTRODUCTION HOW CERAMIC DIELECTRIC MATERIALS ARE USED:...70 TECHNICAL ECONOMICS OF CERAMIC DIELECTRIC MATERIALS:...70 IMPORTANCE OF RAW MATERIALS (BARIUM CARBONATE AND TITANIUM DIOXIDE)...71 INDUSTRY SNAPSHOT: UNDERSTANDING THE SUPPLY CHAIN FOR CERAMIC DIELECTRIC MATERIALS:...71 Supply Chain Map Of The Ceramic Dielectric Materials Industry: GLOBAL CONSUMPTION VOLUME FOR CERAMIC DIELECTRIC MATERIALS: ; FORECAST...72 Global Market Size and Five Year Forecasts:...72 Historical Growth In Demand: CAPTIVE VERSUS MERCHANT MARKET FOR CERAMIC DIELECTRIC MATERIALS: Captive Market For Ceramic Dielectric Materials: Captive Market: A Description Of Ceramic Dielectric Materials Produced:...73 Why Companies Produce Ceramic Dielectric Materials Captively:...73 Captive Market: Barium Titanate:...73 Captive Market: Formulations:

6 Captive Market: Additives:...74 Captive Market For Ceramic Dielectric Materials: Production Volumes:...74 MERCHANT MARKET FOR CERAMIC DIELECTRIC MATERIALS: Merchant Market: A Description Of Ceramic Dielectric Materials Produced:...74 Merchant Market: Barium Titanate:...74 Merchant Market: Formulations:...74 Merchant Market: Additives:...74 GLOBAL CONSUMPTION VOLUME FOR CERAMIC DIELECTRIC MATERIALS: HISTORICAL (CAPTIVE VERSUS MERCHANT) CERAMIC DIELECTRIC MATERIAL SALES: MARKET FORECASTS: (CAPTIVE VERSUS MERCHANT):...75 GLOBAL MERCHANT MARKET VALUE FOR CERAMIC DIELECTRIC MATERIALS BY TYPE: Ceramic Dielectric Material Dollar Sales (Merchant Market): F...77 GLOBAL MERCHANT MARKET FOR CERAMIC DIELECTRIC MATERIALS BY TYPE: Changes in The Value of Demand for Barium Titanate, Formulations and Additives: 2008 Compared With 2004 CY BARIUM TITANATE-REASONS FOR MARKET GROWTH: TECHNICAL ADVANCES IN CAPTIVE PRODUCTION OF BARIUM TITANATE:...79 REASONS FOR GROWTH IN THE FORMULATIONS MARKETS:...79 REASONS FOR GROWTH IN THE ADDITIVES MARKETS:...79 CERAMIC DIELECTRIC MATERIAL VENDORS: 2008 SALES & MARKET SHARES...80 Summary Table: Ceramic Dielectric Materials: Market Shares: 2008 versus (In Millions of USD) Source: Paumanok Publications, Inc. Based upon company reports and Paumanok s internal estimates. {In Millions of USD} Source: Paumanok Publications, Inc Ceramic Dielectric Material Vendors: Global Market Shares: BARIUM CARBONATE MARKET STRUCTURE: Barium Carbonate (Witherite): Resources By World Region: CY Global Exports of Barium Carbonate Worldwide: 2007 CY By Country of Origin (In USD)...83 HEALTH OF BARIUM CARBONATE MINING OPERATIONS: FUTURE POTENTIAL OF CHINA IN THE SUPPLY CHAIN: High Purity Barium Carbonate For Electronics: World Markets: Top Vendors of High Purity Barium Carbonate: 2008 Market Shares VERTICAL INTEGRATION OF MERCHANT VENDORS IN THE BARIUM CARBONATE SUPPLY CHAIN: TITANIUM DIOXIDE MARKET STRUCTURE: Ilmenite, Leucoxene Ores and Rutile Beach Sand Resources...86 Titanium Dioxide Processing:...87 Titanium Oxide Resources Worldwide: Global Exports By Country of Origin: 2007 CY (USD)...87 Titanium Dioxide Consumption By End-Use Market Segment: COMPETITIVE ENVIRONMENT IN TITANIUM DIOXIDE SUPPLY TO THE GLOBAL MARKET: Merchant Market Reliance; and Captive Production of Ceramic Dielectric Materials By Ceramic Component Manufacturer: 2007 CY...90 Ceramic Dielectric Material Consumption By Manufacturer: Merchant versus Captive: 2007 Compared With 2003 (In Tons Avoirdupois) GLOBAL CONSUMPTION VOLUME FOR MLCC BY ELECTRODE SYSTEM: (IN BILLIONS OF PIECES)...92 Growth Rate In Global MLCC Shipments By Electrode System: PGM Versus BME...93 Barium Titanate Consumption: ; Forecasts...93 Demand For Ceramic Dielectric Materials From The Merchant Market By Type: ; Forecasts Global Barium Titanate Consumption Value By Type: 2008 (Oxalate, Hydrothermal, BCZT, Solid State and Sol- Gel)...93 Merchant Market For Chemical Oxalate Materials: :

7 Merchant Market For Hydrothermal Materials: : Merchant Market For BCZT Process Materials: : Merchant Market For Solid-State Materials: : Merchant Market For Sol-Gel Derived Materials: : World Market For Barium Titanate By Materials Development Process: ; Forecasts...95 BARIUM TITANATE GROWTH FORECASTS BASED UPON TECHNOLOGY: Technology Correlation With Thin Ceramic Layers:...96 Dielectric Layer Thicknesses Achieved by Various Process Methods for Barium Titanate...96 Dielectric Layer Thicknesses Achieved by Various Process Methods for Barium Titanate...97 Thin Dielectric Layers Not Only Driven By Increased Capacitance, but Also Volumetric Efficiency of the MLCC97 Barium Titanate Consumption Forecast In Tons By Fired Dielectric Layer Thickness In MLCC: Pricing For Barium Titanate In The Merchant Market By Type: 2008 (Solid State, Oxalate, BCZT, Hydrothermal and Sol-Gel):...98 Global Average Price Per Pound For Barium Titanate By Type: 2004 Versus (In USD)...98 Long Term Price Erosion For Barium Titanate Materials: Global Merchant Market Shares In Barium Titanate Supply To The Ceramic Capacitor Industry: Growth Rates By Barium Titanate Vendor To The Merchant Market HIGH CAPACITANCE MLCC SHORTAGES AND EXTENDED LEAD TIMES: NOVEMBER COMPETITIVE ANALYSIS OF THE WORLD S TOP CERAMIC CAPACITOR COMPANIES: AVX/KYOCERA CORPORATION (NYSE: AVX : RIC 6971:): AVX Corporation KEY DATA: SALES: USD (FISCAL YEAR ENDING MARCH 31) UPDATE: AVX Sales by World Region Update for 2009: Average Selling Price Update: AVX: June 2009 Forecast Sales By End Use Market Segment (Quarter to Quarter) Update: AVX Change In Revenues By Product Line: AVX: Total Capacitor Sales Estimates 2009 By Dielectric at AVX (Advanced Products Group and Commercial Products Group Combined: AVX Change In Revenues By Distribution Channel: Kyocera (AVX) Corporation Reports in 2009: December Quarterly Revenues: AVX Corporation Reports 7.4% Increase in March 2009 Quarter-To-Quarter Sales; Down 26.4% YoY AVX: Recent Acquisitions: Company Description: Historical Financial Data: AVX Passive Component Revenues: Business Analysis: AVX Revenues by World Region: EPCOS AG UPDATE: Year Over Year Sales Estimates For 2009: Changes By Operating Unit 1H 2009: Focus on Ceramics

8 EPCOS: Change In Sales By End-Use Market Segment: Changes in Sales By World Region: Corporate Description: Historical Financial Data: I A) Capacitors: I B) Inductors: Division II: Ceramic Components Division III: SAW Components How Revenues are Distributed By Division at EPCOS AG: Expected Changes in EPCOS Revenues YoY Through September 2009 Forecast By Division: EPCOS Passive Component Revenues: EPCOS Strategy Analysis: EPCOS Revenues by World Region: EPCOS Revenues By World Region: 2008 and Forecasts for 2009 (In Millions of Euro) EPCOS Revenues by End-Use Market Segment: EPCOS Forecasted Change In Revenues By End-Use Market Segment (Sept 2008 to Sept 2009): In Millions of Euros EPCOS Manufacturing Facilities & Production By World Region: Headcount adjustments unavoidable EPCOS Recent Technology Developments: Other Acquisitions and Joint Ventures: Outlook: KEMET ELECTRONICS (NYSE: KEM): KEMET ELECTRONICS: 2009 UPDATE March 2009 Quarterly Update: Kemet Reports 10.4% Sequential Increase in June 2009 Capacitor Sales; Down 38.1% on a YoY basis Cost of Goods Sold: Other Information for the Fiscal Year: Estimated Revenue Forecast By Product Group: Company Description: Historical Financial Data: Kemet Passive Component Revenues By Product Line: Kemet Expansion Strategy Analysis: Expansion Plans in The United States: Kemet Revenues by World Region: Shift in Sales European Sales Update: Asia Sales Update: Americas Update: Kemet Corporation: Change in Revenues by World Region: Kemet Revenues by End-Use Market Segment: Update Of Sales By Channel Of Distribution: Kemet Plant Consolidation Plans: Kemet Technology Assessment: Kemet Quarterly Outlook: MURATA MANUFACTURING COMPANY LIMITED (RIC: 6981): COMPANY SALES DATA:2009 UPDATE (ENTIRE COMPANY) Murata Capacitor Sales Increase 34% Sequentially In June 2009 Quarter; Down 29.1% YoY CAPACITOR SALES UPDATE:

9 FY 2010 Outlook For Capacitors: Company Description: Historical Financial Ratios Murata Capacitor Revenues: Murata Strategy Analysis: Murata Revenues by World Region: Update: Changes By World Region Murata Revenues by End-Use Market Segment: Segment Sales Update: Murata Manufacturing Footprint by Region/Site: Murata Technology Assessment: Class II Ceramic Capacitor Developments: Class I Ceramic Capacitor Developments: Passive Component Integration: PANASONIC ELECTRONIC DEVICES (RIC: 6752): Matsushita Electric Industrial Co., Limited Company Description: Panasonic Revenue Update 2009: Components and Devices Panasonic Components and Devices Group Reports 13.9% Growth in September 2009 Quarter; Cites TV and PC Business Growth Murata Buys Panasonic Electronic Devices' MLCC Unit Passive Component and Other Product Lines: Historical Financial Data Earnings Update: Panasonic Passive Component Revenues: Panasonic Revenues by World Region: Panasonic Revenues by End-Use Market Segment: Panasonic Passive Component Production By World Region & Plant Location: Panasonic Technology Assessment: Outlook for Fiscal MLCC Purchased By Murata: SAMSUNG ELECTRO-MECHANICAL (KSE: ): Phone Home Page UPDATE: Samsung 2009 March Quarter: SEMCO Total Revenues: SEMCO Revenues by MLCC Capacitance Value: Company Description: Historical Financial Data (Consolidated) SEMCO Passive Component Revenues: SEMCO Revenues by World Region: SEMCO Revenues by End-Use Market Segment: SEMCO Expansion Strategy: SEMCO Technology Assessment: TAIYO YUDEN COMPANY LIMITED (RIC: 6976): Taiyo Yuden Co Ltd

10 2009 UPDATE: Japan Production Ratio Versus Japan Sales Data: Company Description: Taiyo Yuden Passive Component Revenues: Taiyo Yuden Revenues by World Region: Taiyo Yuden Revenues by End-Use Market Segment: Capacity Expansion Since 1999: Reasons For Expansion: Regional Expansion Analysis (Japan, China, Malaysia, Korea, Philippines): TDK CORPORATION (RIC: 6762): UPDATE: TDK Corporation Reports 30.5% Sequential Increase in June 2009 Quarter Sales; Down 4.8% YoY TDK Ceramic Capacitor Sales: 2008 to 2009 (34%) TDK Electronic Material Group Forecasts: Streamlining Capacitor Operations In Japan: Company Description: TDK Passive Component Revenues: TDK Revenues by World Region: TDK Revenues by End-Use Market Segment: TDK Expansion Strategy Analysis: TDK Operational Structure For The Capacitor Group (Termination) New Profit Pillars At TDK (MLCC, Inductor and HDD): TDK Manufacturing Footprint by Region/Site: TDK MERGER WITH EPCOS AG TO FORM TDK EP Why It Makes Sense: Where the Synergies are for Both Revenues and Earnings: What Does this Level Of Consolidation Mean For The Passive Components Industry? The Multiple Dielectric Strategy: VISHAY VISHAY INTERTECHNOLOGY (NYSE:VSH) UPDATE Vishay Grows 14.2% in The September 2009 Quarter; Expects 1% to 8.5% Growth In The December Quarter Vishay Reports 2.4% Sequential Increase in June 2009 Quarterly Revenues; Down 40.6% on a YoY Basis Costs of Goods Sold in 2009: Company Description: Company Description: Vishay Passive Component Revenues: Vishay Revenues by World Region: Vishay Revenues by End-Use Market Segment: Vishay Production of Passive Components By World Region: THE VISHAY PORTFOLIO IN CERAMIC CAPACITORS: WALSIN TECHNOLOGY CORPORATION (2492): Phone Home Page UPDATE

11 Walsin Technology Corporation Reports a 6.13% Increase in July 2009 Sales on a Month-to-Month Basis Benefit of Non-Yen Based Manufacturing: Passive Components As a Percentage of Overall Sales In 2009: Company Description: Walsin Passive Component Revenues: Walsin Revenues by World Region: Walsin Revenues by End-Use Market Segment: Walsin Expansion Strategy Analysis: Walsin Monthly MLCC and Chip R Output 2008: Walsin Technology Development Walsin Capacity Expansion 2008: Walsin plans new high-capacitance MLCC plant YAGEO CORPORATION (TW 2327): UPDATE: Yageo Reports October 2009 Sales of NT$ 1,860 million; Sales Impacted By China Holiday Yageo Monthly Sales Data: (NT$: 100MM) Yageo Reports Quarter-To-Quarter June 2009 Increase of 21.4% in Revenues Company Description: Yageo Passive Component Revenues: Yageo Revenues by World Region: Yageo Revenues by End-Use Market Segment: Yageo Expansion Strategy Analysis: