Summary

米国調査会社ポーマノックパブリケーションズ社(Paumanok Publications)の調査レポート「ニッケル電極粉末とペースト：世界市場、技術、ビジネスチャンス　2019-2024年」は、積層型セラミックチップコンデンサ(MLCC)の電極レイヤに使用されている超高純度のニッケル電極粉末とペーストの世界市場について詳述している。世界のニッケル電極MLCC粉末の消費金額と数量を査定し、キロ当たりの平均価格も記載している。世界のMLCC用のニッケル電極ペースト市場の粉末からペーストへのサプライチェーンと、最善のペーストが得られる業者市場や多くのペーストがMLCCメーカに独占されている現状について述べている。

Quick Overview

(Durham, NC USA) Paumanok IMR announces the release of the advanced research project report entitled “Nickel Electrode Powder and Paste: World Markets, Technologies and Opportunities: 2019-2024 ISBN: 1-89-3211-38-X (2019)” , which takes a detailed look at the global market for ultra-high purity nickel electrode powders and pastes consumed as the electrode layers of multilayered ceramic chip capacitors (MLCC).

POWDER: This study updates the 1995 and 2005 studies of the same title by the same publisher and the same author. The study analyzes the global value and volume of consumption for nickel electrode MLCC powder, as well as the average price per kilogram over time as benchmarked by the prior studies. The study establishes the long-term historical value, volume and pricing for nickel electrode powder over time. The study also details the value of consumption for nickel electrode powder by particle size, and establishes price and end-product consumption points of differentiation based upon the mean particle size of the powder (<0.1, 0.1-0.19, 0.2-0.3, 0.4 to 0.5+ nm diameter). The study also discusses the world’s top customers for nickel electrode powder by country and world region, including an analyses of all known factories producing MLCC by country (80+ MLCC Factories By Country and Location Worldwide). The study also addresses the detailed “matching systems” for nickel electrode powder and pastes in ceramic dielectrics and termination materials, and synergies between vendors of PBM and BME, barium titanate and additive materials.

PASTE: The study also addresses the global paste nickel electrode paste markets for MLCC, detailing the supply chain from powder to paste and addresses how some of the best pastes are available form the merchant market, but how most paste is produced captive by the MLCC manufacturers. Most importantly the study addresses recent changes in the market, including the captive development of nickel electrode powder and paste by some of the world’s top MLCC producers. Market share data for (1) nickel powders and (2) nickel pastes are also given by vender. 

MLCC ROADMAP FORWARD: The study also shows the roadmap of development with respect to the application of nickel electrode powder in MLCC going forward and the recent breakthroughs in nanotechnology and paste development that have enabled (A) a dramatic increase in capacitance value in microfarads per MLCC, as well as a (B) potential to increase voltage per MLCC to threaten alternative electrolytic capacitor technologies. FORECASTS: The outlook for nickel electrode powder consumed in MLCC is discussed in terms of its ability to win new designs in emerging markets as it competes against related electrostatic and electrolytic material systems. The study also addresses recent spikes in MLCC market activity, MLCC shortages and "EOL" timeliness, and the resulting capacity expansion by the major MLCC manufacturers in 2019 as well as long term market forecasts to 2024. See the detailed Table of Contents for greater insight into the scope and depth of this advanced project Paumanok IMR research report. Updates the 1995 and 2005 study of the same title.

Nickel Electrode Powder and Paste: World Markets, Technologies and Opportunities: 2019-2024 ISBN: 1-89-3211-38-X (2019); 180 Pages, 80 Figures; Published September 2019. $3,750.00 Single User License.

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Table of Contents

ABOUT THE AUTHOR .... 15

1.0 INTRODUCTION .... 16

1.1 FOCUS OF THIS SPECIFIC REPORT ... 16
1.2 RESEARCH METHODOLOGY EMPLOYED: .... 16
1.3 THE PAUMANOK RESEARCH METHODOLOGY: 30 YEARS STUDYING PASSIVE CAPACITOR MARKETS ..... 17
1.3.1 Government Data Collection and Resources: ..... 17
1.3.2 Secondary Published Sources: .... 18
1.3.3 Primary Intelligence Gathering: .. 18
1.4 FIXED CAPACITORS AND THEIR RESPECTIVE SUB-CATEGORIES: FY 2019 ..... 19
1.5 THE PASSIVE CAPACITOR SUPPLY CHAIN: .. 20
1.5.1 Mining of Raw Materials: ... 20
1.5.2 Raw Materials Processing: ..... 21
1.5.3 Capacitor Manufacturing: ... 21
1.5.4 Capacitor Distribution: .... 21
1.5.5 End-Market Consumption: .. 22
1.5.6 Recycling of Critical Materials: .. 22
1.6 THE TECHNICAL ECONOMIC MAXIMS ASSOCIATED WITH PASSIVE ELECTRONIC CAPACITORS: .. 23
1.7 THE TWO TECHNICAL ECONOMIC MAXIMS ASSOCIATED WITH PASSIVE ELECTRONIC CAPACITORS: .. 23
1.7.1 Ubiquitous Nature of Passive Electronic Capacitors In Electrical and Electronic Circuits: .. 24
1.7.2 Relationship Between Performance and Available Surface Area: .. 24
1.8 FINANCIAL CONSIDERATIONS WITH RESPECT TO THIS REPORT: ... 24
1.8.1 Fiscal Year Reporting ..... 24
Currency Translation .... 24
1.8.2 Yen Valuation To The US Dollar: Trend and Directions For The March and June 2019 Quarters: ..... 26
1.8.3 Positive Market Indicators: ..... 27
1.8.4 Negative Market Indicators: ... 27
1.8.5 Overall Outlook To 2024: ... 27
1.8.6 Changing View on Passive Component Unit Sales to 2024: .. 27
1.9 KEY FINDINGS OF THIS REPORT: ..... 27
1.9.1 CRL Annual Review and Forecast: Passive Electronic Component: FY 2018- FY 2019 Market Summary .... 27
1.9.2 Key Passive Products Growth in USD Annualized year-On Year: FDY 2018-FY 2019 .. 28
1.9.3 Regional Growth in FY 2018 and FY 2019: .. 28
1.9.4 End Use Segment Growth in FY 2018 and FY 2019 ..... 28
1.10 KEY FORECASTING OF FUTURE MARKETS ... 29
1.10.1 Capacity Expansion Estimates .. 29
1.10.2 Price Adjustments: .... 30
1.11 THE BOOMING CAPACITOR MARKETS: FY 2019 .. 30
1.12 CAPACITOR LEAD TIMES AND SHORTAGES ... 30
1.12.1 Lead-Time Trends In Passive Components: FY 2019 By Month .... 30
1.12.2 2018 and 2019 Component SHORTAGES .. 31
1.12.3 Capacitor Lead Times Sow Shortages in 2018 Lead Time For Capacitors By Dielectric Type and Sub-Category .... 32
1.12.4 Capacitor Lead Time Trends: 2013-2019 By Month ... 32
1.12.5 Capacitor Lead Times in Weeks: Overall Trend by Month to August 2019 ... 32
1.12.6 MLCC Lead Times- Overall Through August 2019 (8 Categories) .... 35
1.12.5.1 Ceramic, 0201 MLCC (Chips (0201 BaTI02): .. 35
1.12.5.2 Ceramic, 0402 MLCC (Chips (0402 BaTI02): .. 35
1.12.5.3 Ceramic, 0603 MLCC (Chips (0603 BaTI02): ..... 35
1.12.5.4 Ceramic, 0805 MLCC (Chips (0805 BaTI02): .. 35
1.12.5.5 Ceramic, 1206 MLCC (Chips (1206 BaTI02): .. 36
1.12.5.6 Ceramic, 1210-1225 MLCC (Chips (1210-1225 BaTI02): ... 36
1.12.5.7 Ceramic, High-CV MLCC (Chips All Sizes BaTI02 In Hydrothermal, alk-oxide or sol-gel): .... 36
1.12.5.8 Ceramic, Specialty Capacitors: .. 36
1.13 Volume, Value and Pricing Data: .... 36
1.14 Forecasting Methodology: Fundamental Aspects of the 20 Year Growth Cycle In Passive Components: .... 36

2.1 CERAMIC CAPACITORS: TECHNOLOGY OVERVIEW: 2019 ... 37

2.1.1 Ceramic Capacitor Types: .. 37
2.1.2 Ceramic Capacitor Configurations: .... 37
2.1.3 MLCC Design: ... 38
2.1.4 MLCC Case Sizes: .. 40
2.1.5 Ceramic Capacitor Metallization: .... 40
2.1.6 Palladium Electrodes: ..... 41
2.1.7 Nickel Electrodes: ... 41
2.1.8 Copper Electrodes: ..... 41
2.1.9 Termination Materials: ... 42
2.1.10 Ceramic Dielectric Materials (Where Ceramic Capacitors Get Their Name): ..... 42
2.1.11 Ceramic Capacitor Performance Classes .. 43
2.1.12 Class I Ceramics (NPO/COG): ..... 43
2.1.13 Developments in COG BME MLCC .... 44
2.1.14 Class II Ceramics (X7R/Z5U/Y5V) ..... 44
2.1.15 X7R Capacitors (BX) ... 44
2.1.16 Developments in X7R BME MLCC .... 45
2.1.18 Z5U (BZ) Capacitors .... 45
2.1.19 Y5V Capacitors .... 45
2.1.21 Class III Ceramics .... 46
2.2 EMERGING CAPACITOR TECHNOLOGIES: 2019-2025 .. 46
2.3 EMERGING CAPACITOR MANUFACTURING TECHNIQUES: 2019-2025 ... 47
2.4 DESIGNING CAPACITORS FOR EMERGING MARKETS: 2019-2025 ... 47
2.5 THE NEXT GENERATION CAPACITOR: 2019-2025 ... 47

3.0 NICKEL METAL POWDER AND PASTE: WORLD MARKETS, TECHNOLOGIES, FORECASTS AND BREAKTHROUGHS:2019-2024 ..... 48

3.1 The Fastest Growth Segment of The Electronic Materials Supply Chain in 2019 .... 48
3.2 MLCC Electrodes- The Fastest Growth Electronic Materials Market in 2019: .... 48
3.3 MLCC: Market Growth Drives Nickel Electrode Consumption: .. 50
3.4 Nickel Electrode Technology: Key Enabling Electronic Material .... 50
3.5 MLCC Electrode Materials: ... 50
3.5 Technology Roadmapping in Nickel Electrode Powders and Pastes: ... 51
3.6 Particle Sizes of Nickel Electrode Powders: .. 51
3.7 NICKEL METAL POWDER AND PASTE: WORLD MARKETS, TECHNOLOGIES, FORECASTS AND BREAKTHROUGHS: 2019-2024 ..... 52
3.7.1 NICKEL ELECTRODE POWDERS: WORLD MARKETS, TECHNOLOGIES & OPPORTUNITIES: 2019 .... 52
3.7.2 Development of the Nickel Electrode Powder for MLCC Consumption Volume (Tons): 1997-2020 .. 52
3.7.3 Market Growth in Nickel Electrode Powder for MLCC Value ($/MM) 1997-2020 FORECAST IN MILLIONS OF US DOLLARS ... 54
3.7.4 Nickel Electrode Powder For MLCC Price Per Kilogram: 1997-2020F .... 55
3.7.5 Pricing Extrapolation- Ni Price Per Kg- Ni Electrode Powder Pricing by Mean Particle Size in Nanometers (USD Per Kg) ..... 56
3.7.6 Raw Materials Consumed in the Production of MLCC: Cost Breakdown (TOTAL COST OF GOODS SOLD) VARIABLE COSTS- RAW MATERIALS ONLY) ..... 57
3.7.7 MLCC Nickel Electrode Powder Market by Particle Size: FY 2019 ..... 58
3.7.8 Nickel Electrode Powder Sales By World Region: FY 2019 ..... 59
3.7.9 Nickel Electrode Powder Sales By Key Customer in MLCC - FY 2019- .... 60
3.7.10 MLCC Manufacturers: 2019 Competition by MLCC Capacitance Value .. 61
3.7.11 Nickel Electrode Powder Vendors to the Global MLCC Market: FY 2019 Estimated Sales and Market Shares: ..... 63
3.7.12 NICKEL ELECTRODE PASTE FOR MLCC: WORLD MARKETS AND KEY TECHNOLOGIES: FY 2019 .. 64
3.7.13 Nickel Paste Vendors To MLCC: FY 2019 Estimated Market Shares: ... 65
3.7.14 New Nickel Paste Development: FY 2020 Breakthrough in Japan ..... 67
3.7.15 Ni Electrode Thickness/MLCC Capacitance (Murata and SEMCO Patents Point The Way) .. 68
3.7.16 MLCC Leads The Field In Passive Component Volumetric Efficiency .. 69
3.7.17 Increasing Capacitance While Decreasing Case Size in MLCC .. 71
3.7.18 Areas of Research & Development - Market Expansion in High Capacitance MLCC by Case Size and Voltage Per Cell .... 73
3.7.19 Maximum Voltage at Maximum Capacitance by Case Size in MLCC ... 75
3.7.20 MLCC Materials Supply Chain: Opportunities for Market and Technology Synergy ..... 77
3.7.21 Nickel Electrode Powder Forecasts: 2019-2024 ... 78
3.7.22 MLCC Market Forecasts: FY 2020-2024 ..... 78
3.7.23 Nickel Electrode Powder Forecasts: FY 2020-2024 .... 79
3.7.24 MLCC Nickel Powder Market Value Forecasts: FY 2020-2025 ..... 80

4.0 MLCC SHORTAGES BY CASE SIZE: 2018-2019 (WHERE THE MONEY IS NOW)- .... 81

4.1 Introduction: ... 81
4.2 Trend Analysis By Case Size: .... 81
4.3 MINIATURIZATION: DRIVEN BY AND FOR THE MARKET: ... 82
4.4 A SEPARATE OUTLOOK FOR MLCC BY CASE SIZE .... 83
4.5 TIER-TO-TIER STRATEGY IN MLCC: .. 84
4.6 OTHER MARKETS IMPACTED BY MLCC .... 86

5.0 HOW RECENT MLCC END-OF-LIFE ANNOUNCEMENTS HELPED TO DISRUPT THE HIGH-TECH ECONOMY IN 2018AND 2019 ..... 87

5.1 Overview- .... 87
5.2 Background- .... 87
5.2.1 EOL- End-Of-Life-Announcement of Discontinuation- .. 87
5.2.2 Last Order Date- ... 87
5.2.3 Last Shipment Date- ..... 87
5.3 Reasons for Discontinuation of MLCC Product Lines- .. 88
5.3.1 Unprofitable- .. 88
5.3.2 Deteriorating Equipment- ... 88
5.3.3 Inconsistent Raw Materials Supply- ... 88
5.3.4 The Timeline For MLCC Discontinuation: ... 88
5.5 Summary of MLCC Discontinuations: .... 90
5.5.1 - 22 and 47 Microfarad MLCC (Large Case Size) ... 90
5.6 HIGH VOLTAGE MLCC ... 90
5.7 CASE SIZE, VOLTAGE AND OPERATING TEMPERATURE ..... 91

6.0 MLCC: WORLD MARKETS: 2018-2019 .. 93

6.1 Global Market Value, Volume and Average Unit Pricing for Capacitors: 2007-2008-2009-2010-2011-2012-2013-2014-2015-2016-2017,2018 and FY 2019 Estimates ..... 93
6.2 Value Shipment Update: FY 2019- ..... 94
6.2.1 1 Global Consumption Value For Capacitors: FY 2019: ... 94
6.3 Global Capacitor Value Demand By Type (Dielectric): FY 2019 And Historical 13 Year Market Growth .. 96
6.3.1 (MLCC) Ceramic Capacitor Markets: FY 2019 .... 96
6.3.2 Summary of Changes in Capacitor Shipment Value By Dielectric: FY 2015 to FY 2019 ..... 96
6.4 Volume Shipment Update: FY 2019 ... 99
6.4.1 Trend In Global Volume Shipments For Capacitors: FY 2007-2019 ... 99
6.4.2 Global Capacitor Volume Demand By Type (Dielectric): FY 2019 And Historical 14- Year Market Growth ..... 101
6.7 MLCC Pricing Update: FY 2019 ... 102
6.7.1 Average Unit Selling Price For Capacitors: FY 2007-2019 .... 102
6.7.2 Global Capacitor Pricing Trends By Type (Dielectric): FY 2019 And Historical 15 Year Market Trend .. 104

7.0 END-MARKETS DRIVING DEMAND FOR MLCC .... 105

7.1 END-USE MARKET UPDATE: FY 2019-2024 OUTLOOK .... 106
7.1.1 Capacitor Consumption By End-Use Market Segment: FY 2019 .... 106
7.2 Changes In The Value of Consumption for Capacitors By End-Use Market Segment: FY 2014-FY 2019 .. 108
7.2.1 HANDSETS AND BACKBONE-Market For Capacitors In The Telecommunications Segment: FY 2019 and FY 2024 Outlook: .... 108
7.2.2 5G Roll-Out Impact on Capacitor Markets: FY 2020- FY 2024 ..... 109
7.2.3 5 COMPUTERS-Market For Capacitors In The Computer & Business Machine Segment: FY 2019 and FY 2024 Outlook: .. 109
7.2.4 HOME THEATRE-Market For Capacitors In The Consumer AV Segment: FY 2018 and FY 2024 Outlook: ..... 110
7.2.5 8 AUTOMOTIVE Market For Capacitors In The Automotive Segment: FY 2019 and FY 2024 Outlook: ... 111
7.2.6 Market For Capacitors In The Power, Industrial and Infrastructure Segment: FY 2019 and FY 2024 Outlook: ... 112
7.2.7 POWER AND LIGHTING- Industrial Electronics Segment- .... 113
7.2.8 SPECIALTY Market For Capacitors In The In Specialty Electronics Segment: FY 2019 and FY 2024 Outlook: .... 113
7.2.9 BENCHMARKING- MURATA WORLD’S LARGEST CAPACITOR MANUFACTURER- SALES BY END-USE MARKET SEGMENT FY 2015-fy 2019 ... 115
7.3 Key Growth Markets For Capacitors in Automotive and Transportation Electronics: FY 2019-2024 ..... 116
7.4 Key Growth Markets for Capacitors in Industrial Electronics: FY 2019-2024 .. 117
7.5 Key Growth Markets for Capacitors in Consumer AV: FY 2019-2024 ..... 118
7.6 Key Growth Markets for Capacitors in Medical Electronics: FY 2019-2024 .... 119
7.7 Key Growth Markets for Capacitors in Defense and Space Electronics: FY 2019-2024 ... 120
7.8 Key Growth Markets for Capacitors in The IOT: FY 2019-2024 ..... 121
7.9 Key Growth Markets for Capacitors in The Roll-Out of 5G: FY 2019-2024 .... 123
7.10 KEY GROWTH MARKETS: 2019-2024 AND BEYOND ... 124
7.10.1 The Forecast Methodology Employed: ..... 125
7.10.2 Smartphones: .. 127
7.10.3 The Internet of Things: ... 127
7.10.4 Wearable Technology: ... 127
7.10.5 Personal Medical Devices: ..... 127
7.10.6 Renewable Energy: ..... 128
7.10.7 7 Oil & Gas Electronics: ..... 128
7.10.8 Home Automation: ..... 128
7.10.9 Advanced Television: .... 128
7.10.10 Automotive Electronics: .. 129
7.10.11 Additional Developments: .... 129
7.11 CAPACITOR VENDORS: GLOBAL SALES & MARKET SHARES: FY 2019 ..... 130
7.11.1 Ceramic Capacitor (MLCC and Other Ceramic Capacitor Configuration) Manufacturers: FY 2019 Sales & Market Shares .... 131
7.12 CERAMIC COMPONENTS: BEST PRACTICES FOR INCREASING PROFITABILITY: .. 133
7.12.1 In-House Production of Ceramic Formulations: ..... 133
7.12.2 In-House Production of Advanced Barium Titanate: ... 133
7.12.3 Displacing Precious Metals With Base Metals In Electrodes and Terminations: ... 133
7.12.4 Tunnel Versus Batch Kilns: .. 133
7.12.5 Developing Massive Economies of Scale: .... 134
7.12.6 Having Specialty Parts in The Portfolio To Offset Price Erosion Trends in Large Runners: ..... 134
7.12.7 Low Cost Regional Production: ... 134

8.0 HIGH CAPACITANCE MLCC: THE BIG MONEYMAKER: 2015-2020: .... 135

8.1 Important Market Developments In BME MLCC: 2015 .... 135
8.2 High Capacitance MLCC: Competition At The Granular Level ..... 135
8.3 Introduction: Competition in High Capacitance MLCC Is Intense .... 135
8.4 High Capacitance MLCC: Market Dominance Over Alternative Technologies: .... 135
8.5 High Capacitance MLCC: To Be First To Market With Differentiated Products: .... 136
8.6 Increasing The Maximum Overall MLCC Capacitance Value: .. 136
8.7) Increasing The Maximum Capacitance Value for Each of the MLCC Chip Case Sizes ... 137
8.8 Increasing MLCC Capacitance Value While Also Increasing Chip Operating Voltage ..... 138
8.9 Increasing MLCC Capacitance Value While Not Impeding Chip Performance Characteristics: ... 139
8.10 Increasing MLCC Capacitance Value While Decreasing Chip Thickness: .. 139
8.11 BME MLCC Markets: Summary and Conclusion: .. 139

9.0 MLCC FACTORIES CONSUMING NICKEL (CUSTOMERS BY COUNTRY) .. 140

9.1 Japanese MLCC Factories: .. 140
9.1.1 Top 15 Factories Producing Ceramic Capacitors In Japan- 2019 ... 141
9.2 Korean Production Output of Ceramic Capacitors in 2019 .... 142
9.2.1 Top 4 Factories Producing MLCC In Korea ROK .. 142
9.3 Chinese Production Output of Ceramic Capacitors: FY 2015 ... 142
9.3.1 Top 36 Factories Producing MLCC In China ..... 142
9.3 Philippines Production Output Of Ceramic Capacitors 2019 ..... 143
9.3.1 Top 2 Factories Producing MLCC In Philippines ... 144
9.4 Singapore Production Output Of Ceramic Capacitors: FY 2015 ... 144
9.4.1 Top Factory Producing MLCC In Singapore .. 145
9.5 Americas Production Of Ceramic Capacitors: FY 2015 .... 145
9.5.1 Top 20 Factories Producing MLCC In the United States .... 146
9.5.2 Mexico Production Of Ceramic Capacitors: FY 2019 .... 147
9.5.2.1 Top Factories Producing Ceramic Capacitors In Mexico: 2015 .. 147
9.6 Malaysia Production of Ceramic Capacitors: FY 2019 ... 147
9.6.1 Top Factories Producing Ceramic Capacitors In Malaysia: 2015 .... 147
9.7 European and ROW Production of Ceramic Capacitors: FY 2019 .... 147
9.7.1 Top Factories Producing MLCC In Europe and Israel: 2019 .. 148

10.0 CAPACITY EXPANSION IN THE GLOBAL MLCC MARKETS ... 149

10.1 CAPACITY EXPANSION IN THE GLOBAL CERAMIC CAPACITOR INDUSTRY: CALENDAR-YEAR 2018-2019: .. 149
10.2 WHY THE 2018 UP-CYCLE RESEMBLES THE 2007 UP-CYCLE: ... 149
10.3 When The Market Goes South… .. 150
10.4 MLCC Expansion Strategy Analysis- .. 150
10.4.1 ROI Equations Over Time Show Yields Lower Over Time .. 150
10.4.2 Regional Expansion Analysis: .... 151
10.4.3Supply Chain Analysis: Materials Availability: .. 151
10.4.4 High Cap Versus Low Cap Revenue Analysis: .. 151
10.4.5 Market Share Analysis: Maintenance and Roadmaps: ... 152
10.4.6 Where Capacity Expansion Is Expected: MLCC Dielectric Chemistry: .... 152
10.4.7 X5R High Capacitance MLCC ..... 152
10.4.8 Y5V High Capacitance MLCC ..... 152
10.9.9 X7R High Capacitance MLCC ..... 152
10.5 Additional Markets Impacted By Capex In MLCC .. 153
10.5.1 Integration and Modularization Markets Outlook- ..... 153
10.6 Summary and Conclusion: ... 153
10.7 MLCC CAPACITY EXPANSION (TECHNOLOGY AND CASE SIZES): ..... 154
10.7.1 When The Market Goes South… ..... 154
10.7.2 MLCC Expansion Strategy Analysis- ... 154
10.7.3 ROI Equations Over Time Show Yields Lower Over Time .... 154
10.7..4 Regional Expansion Analysis: .. 155
10.7.5 Supply Chain Analysis: Materials Availability: .... 155
10.7.6 High Cap Versus Low Cap Revenue Analysis: ..... 155
10.7.8 Market Share Analysis: Maintenance and Roadmaps: .. 156
10.7.9 Where Capacity Expansion Is Expected: MLCC Dielectric Chemistry: ... 156
10.8 TECHNOLOGY ASSESSMENT OF THE HIGH CAPACITANCE X5R MLCC MARKET SEGMENT: 2005, 2013, 2018 COMPARISONS .. 157
10.8.1 X5R MLCC MARKET IMPACTED BY ACQUISITIONS AND SLOW ADOPTION OF TECHNOLOGY: 2005-2013-2018 ..... 157
10.8.2 Competitive Environment In X5R High Capacitance MLCC Markets By Maximum μF: 2005-2013-2018 ...158
10.8.4 Technology Assessment of The High Capacitance X7R MLCC Market Segment: 2005, 2013, 2018 Comparisons of The Roadmap: .....158
10.8.3 X7R MLCC Market Impacted By Lack of Investment in High Capacitance Variations: 2005-2013-2018 ....159
10.8.5 Competitive Environment In X7R High Capacitance MLCC Markets By Maximum μF: 2005-2013-2018 ..160
10.8.6 SUMMARY AND CONCLUSIONS: MLCC ARE HARD TO MAKE ... 160
10.9 MLCC CASE SIZE PRODUCTION STRATEGY (30+ MANUFACTURERS) .. 161
10.10 Capacity Expansion In The Global Ceramic Capacitor Industry: Calendar-Year 2018-2019 .... 163
10.11 Capacity Expansion Comparative Analysis: 2018, 2007, 2000 Upcycles .... 164
10.0 CAPACITY EXPANSION IN THE GLOBAL MLCC MARKETS ... 149
10.1 CAPACITY EXPANSION IN THE GLOBAL CERAMIC CAPACITOR INDUSTRY: CALENDAR-YEAR 2018-2019: .. 149
10.2 WHY THE 2018 UP-CYCLE RESEMBLES THE 2007 UP-CYCLE: ... 149
10.3 When The Market Goes South… .. 150
10.4 MLCC Expansion Strategy Analysis- .. 150
10.4.1 ROI Equations Over Time Show Yields Lower Over Time .. 150
10.4.2 Regional Expansion Analysis: .... 151
10.4.3Supply Chain Analysis: Materials Availability: .. 151
10.4.4 High Cap Versus Low Cap Revenue Analysis: .. 151
10.4.5 Market Share Analysis: Maintenance and Roadmaps: ... 152
10.4.6 Where Capacity Expansion Is Expected: MLCC Dielectric Chemistry: .... 152
10.4.7 X5R High Capacitance MLCC ..... 152
10.4.8 Y5V High Capacitance MLCC ..... 152
10.9.9 X7R High Capacitance MLCC ..... 152
10.5 Additional Markets Impacted By Capex In MLCC .. 153
10.5.1 Integration and Modularization Markets Outlook- ..... 153
10.6 Summary and Conclusion: ... 153
10.7 MLCC CAPACITY EXPANSION (TECHNOLOGY AND CASE SIZES): ..... 154
10.7.1 When The Market Goes South… ..... 154
10.7.2 MLCC Expansion Strategy Analysis- ... 154
10.7.3 ROI Equations Over Time Show Yields Lower Over Time .... 154
10.7..4 Regional Expansion Analysis: .. 155
10.7.5 Supply Chain Analysis: Materials Availability: .... 155
10.7.6 High Cap Versus Low Cap Revenue Analysis: ..... 155
10.7.8 Market Share Analysis: Maintenance and Roadmaps: .. 156
10.7.9 Where Capacity Expansion Is Expected: MLCC Dielectric Chemistry: ... 156
10.8 TECHNOLOGY ASSESSMENT OF THE HIGH CAPACITANCE X5R MLCC MARKET SEGMENT: 2005, 2013, 2018 COMPARISONS .. 157
10.8.1 X5R MLCC MARKET IMPACTED BY ACQUISITIONS AND SLOW ADOPTION OF TECHNOLOGY: 2005-2013-2018 ..... 157
10.8.2 Competitive Environment In X5R High Capacitance MLCC Markets By Maximum μF: 2005-2013-2018 ...158
10.8.4 Technology Assessment of The High Capacitance X7R MLCC Market Segment: 2005, 2013, 2018 Comparisons of The Roadmap: .....158
10.8.3 X7R MLCC Market Impacted By Lack of Investment in High Capacitance Variations: 2005-2013-2018 ....159
10.8.5 Competitive Environment In X7R High Capacitance MLCC Markets By Maximum μF: 2005-2013-2018 ..160
10.8.6 SUMMARY AND CONCLUSIONS: MLCC ARE HARD TO MAKE ... 160
10.9 MLCC CASE SIZE PRODUCTION STRATEGY (30+ MANUFACTURERS) .. 161
10.10 Capacity Expansion In The Global Ceramic Capacitor Industry: Calendar-Year 2018-2019 .... 163
10.11 Capacity Expansion Comparative Analysis: 2018, 2007, 2000 Upcycles .... 164

11.0 RAW MATERIAL SUPPLY CHAIN REVIEW: 2019 .... 166

11.1 Introduction: Mining & Materials: The Supply Chain Begins in the Ground .. 166
11.2 Mining & Materials: Electronics: Electronics Begin in the Groound .. 166
10.2 Component End-Markets Driving Demand for Engineered Materials: FY 2019 ..... 169
11.3 FEEDSTOCKS: Relationship Between Raw Materials And Specific Electronic Components ... 170
11.4 BASE METALS: ... 170
11.1.1 Nickel: .... 170
11.1.2 Copper: ... 170
11.5 PRECIOUS METALS: ..... 170
11.5.1 Palladium: ... 170
11.5.2 Silver: .. 170
11.6 ENGINEERED MATERIALS: Relationship Between Raw Materials And Specific Electronic Components .... 170
11.7 Some Key Areas of Intense Market Value In Engineered Raw Materials: .. 171
11.7.1 Barium Titanate: ..... 171
11.7.2 Ceramic Dielectric Materials: ..... 171
11.7.3 Ceramic Additive Materials: .. 172
11.7.4 Electrode Powders and Pastes: ... 172
11.7.5 Termination Powders and Pastes: ... 172
11.8 Electronic Components, Engineered Materials & Surface Area: ... 172
11.9 Why Ceramic Components Are So Economical: .. 172
11.10 The Requirement of Nanotechnology In Electronic Circuits: ..... 172

12.0 NICKEL ELECTRODE PRODUCER AND PASTE SUPPLIERS TO THE MLCC MARKET: .. 174

12.1 BHP ..... 174
12.2 CNPC ... 174
12.3 DAIKIN INDUSTRIES ... 175
12.4 HONGWU INTERNATIONAL GROUP ... 175
12.5 JFE MINERAL .... 176
12.6 JINCHUAN GROUP INTERNATIONAL ..... 178
12.7 JIANGSU BOQIAN NEW MATERIALS STOCK CO., LTD (NINGBO ASSETS) ... 178
12.8 MURATA MANUFACTURING (CAPTIVE) ... 179
12.9 PJSC “MMC “NORILSK NICKEL” ... 180
12.10 PRED MATERIALS INTERNATIONAL .... 181
12.11 QUANTUM SPHERE ... 181
12.12 SEMCO (CAPTIVE) ..... 181
12.13 SHOEI CHEMICAL .. 182
12.14 TOHO TITANIUM ... 185
12.15 SUMITOMO METAL MINING ... 186
12.16 TEKNA PLASMA SYSTEMS .. 186
12.17 VALE SA (INCO) .... 187
 

LIST OF FIGURES

Figure 1: Paumanok Research Methodology ....17
Figure 2: Fixed Capacitor Market Breakdown by Sub-Category: FY 2019 .....19
Figure 3: The Passive Electronic Capacitor Supply Chain ...20
Figure 4: The Technical Economic Maxims Associated With Passive Electronic Capacitors .....23
Figure 5: Currency Translations Used In This Report: FY 2013, 2014, 2015, 2016, 2017 2018 and 2019 26
Figure 6: Lead Times for Capacitors for 29 Components ....32
Figure 7: Lead Times for Capacitors for 30 Components-VISUALIZATION ....32
Figure 8: Ceramic Capacitors: Lead Time Trends In Weeks by Ceramic Capacitor Type and MLCC Case Size: January 2013- August 2019 ...34
Figure 9: MLCC Production by Case Size Trend: 1991-2008 .....81
Figure 10: MLCC Manufacturers by Case Size: 30+ Vendors .....85
Figure 11: MLCC Lead Time Trend By Case And End-Of-Life Announcement Coorelation ....92
Figure 12: Global Market Value, Volume and Average Unit Pricing For Capacitors: FY 2019 .....93
Figure 13: Global Consumption Value For Capacitors: FY 2007-2019 ...95
Figure 14: Changes in Global Value of Demand for Capacitors By Dielectric: FY 2003-FY 2018 and 2019 Forecast ..96
Figure 15: Changes in Capacitor Consumption Value By Dielectric: FY 2017 to FY 2019 ...97
Figure 16: Global Consumption Volume for Capacitors: FY 2007-2019 ..100
Figure 17: Capacitor Consumption Volume Worldwide by Dielectric: FY 2003-2018;2019 Estimates ...101
Figure 18: Global Average Unit Selling price for Capacitors: 2003-2018 and 2019 Estimates (In USD per thousand pieces) ....103
Figure 19: Capacitor Pricing Trends By Dielectric: FY 2003-2018 and 2019 Estimates ..104
Figure 20: Global Consumption Value for Capacitors By End-Use Market Segment: FY 2018-2019 .....107
Figure 21: Changes in The Value of Consumption for Capacitors By End-Use Market Segment: FY 2014-FY 2019 .....108
Figure 22: Global Consumption Value Forecast For Capacitors By End-Use Market Segment: FY 2019-2024 ..114
Figure 23: Revenues By End-Use Market Segment For The World's Top Capacitor Manufacturer (Murata): FY 2015-2019 ACTUAL ...115
Figure 24: Key Growth Product Markets in Automotive and Transportation Electronics .....116
Figure 25: Key Growth Product Markets in Industrial Electronics ....117
Figure 26: Key Growth Product Markets in Consumer AV Electronics ....118
Figure 27: Key Growth Product Markets for Capacitors in Medical Electronics ..119
Figure 28: Key Growth Product Markets for Capacitors in Defense and Space Electronics ....120
Figure 29: Key Growth Product Markets for Passive Components in IOT Electronics .....121
Figure 30: Vision of IOT Electronics- ...122
Figure 31: Key Growth Product Markets for Passive Components in IOT Electronics .....123
Figure 32: Key Products and Enhancements Expected To Be Introduced 2019-2023 ...126
Figure 33: Top 12 Vendors of Capacitors: FY 2019 Capacitor Revenues & Market Shares .....131
Figure 34: Top Vendors of Ceramic Capacitors (MLCC and Other Ceramic Capacitor Configurations): FY 2019 Global Changes in Market Shares ..132
Figure 35: Historical Development of Maximum Capacitance For The 100 μF X5R MLCC at 6.3 Vdc and Roadmap to 2023 .....137
Figure 36: Maximum Capacitance Value For The X5R MLCC at 6.3 Vdc by Case Size in 2003, 2013 and 2023 Forecasts (In Microfarads) ...138
Figure 37: Top 15 Factories Producing MLCC In Japan:2019 ...141
Figure 38: Top 4 Factories Producing MLCC In Korea ROK: 2019 .....142
Figure 39: Top 36 Factories Producing MLCC In China: 2019 .....142
Figure 40: Top 2 Factories Producing MLCC In Philippines: 2019 ...144
Figure 41: Top Factory Producing MLCC In Singapore: 2015 .....145
Figure 42: Top 20 Factories Producing MLCC in the United States ..146
Figure 43: Top Factories Producing MLCC in Mexico ..147
Figure 44: Top Factories Producing MLCC in Malaysia ...147
Figure 45: Top Factories Producing MLCC in Europe and ROW: 2015 ...148
Figure 46: Competitive Environment in X5R High Capacitance MLCC Markets by Maximum Capacitance Value in Microfarads: 2005-2013-2018 Comparison
Figure 47: Competitive Environment in X7R High Capacitance MLCC Markets By Maximum Capacitance Value: 2005-2013-2018 Comparison .....160
Figure 48: MLCC Vendors by Case Size: 2018 .....162
Figure 46: Mining & Materials: The Supply Chain Begins in The Ground ...167
Figure 47: Global Market Overview For Nickel Electrode Powder for MLCC: FY 2019 ...52
Figure 48: Development of the Nickel Electrode Powder for MLCC Consumption Volume (Tons): 1997-2020 ..53
Figure 49: Development of the Nickel Electrode Powder for MLCC Consumption Value (Millions of USD): 1997-2020 ...54
Figure 50: Nickel Electrode Powder for MLCC (Price per Kilogram): 2003-2019: 2020 Forecast ....55
Figure 51: Pricing Extrapolation- Ni Price Per Kg- Ni Electrode Powder Pricing by Mean Particle Size in Nanometers (USD Per Kg) ..56
Figure 52: Raw Materials Consumed in the Production of MLCC: Cost Breakdown (TOTAL COST OF GOODS SOLD) VARIABLE COSTS- RAW
MATERIALS ONLY ....57
Figure 53: MLCC Nickel Electrode Powder Market by Particle Size: FY 2019 ..58
Figure 54: Nickel Electrode Powder Sales By World Region: FY 2019 ..59
Figure 55: MLCC Manufacturers: 2019 Competition by MLCC Capacitance Value ..62
Figure 56: Nickel Electrode Powder Vendors to the Global MLCC Market: FY 2019 Estimated Sales and Market Shares ..63
Figure 57: Nickel Paste Vendors To MLCC: FY 2019 Estimated Market Shares ...66
Figure 58: New Nickel Paste Development: FY 2020 Breakthrough in Japan ....67
Figure 59: Ni Electrode Thickness/MLCC Capacitance ..68
Figure 60: MLCC Leads The Field In Passive Component Volumetric Efficiency .....70
Figure 61: Increasing Capacitance While Decreasing Case Size in MLCC .....72
Figure 62: MLCC Manufacturers: 2019 Competition by MLCC Capacitance Value ..74
Figure 63: Maximum Voltage at Maximum Capacitance by Case Size in MLCC ..76
Figure 64: MLCC Supply Chain Opportunities: 2019-2024 ....77
Figure 65: MLCC Market Forecasts: Global Consumption Volume Forecasts: 2020-2024 ....78
Figure 66: MLCC Nickel Powder Forecasts: FY 2020-2024 (In Tons) ...79
Figure 67: MLCC Nickel Powder Market Value Forecasts (Worldwide): FY 2020-2025 (In Millions of US Dollars) ..80