MLCC Capacitor Price Increase: Comprehensive List of Benefiting Companies
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MLCC Capacitor Price Increase: Comprehensive List of Benefiting Companies
According to a research report by China Securities Co., Ltd., as the power consumption of AI servers continues to rise, the quantity and quality requirements for chip inductors and chip capacitors serving GPUs and TPUs have significantly increased. Based on projected GPU and TPU shipment volumes for 2027 and 2028, the chip inductor and chip capacitor industry is expected to experience explosive growth.
Navigating Web3 tides with focused insightsA recent teardown report on NVIDIA’s latest-generation computing chips has reignited investor interest in the MLCC (multilayer ceramic capacitor) sector. The latest institutional teardown of the Rubin-architecture VR200 server revealed that, compared to the previous generation, the new rack features a 30% increase in MLCC component count and an 182% surge in component value—capacitor usage per GPU board nearly doubling. Hardware designs characterized by high power consumption and high-voltage power delivery are driving widespread adoption of premium high-voltage, high-capacity MLCCs across entire systems, further widening the industry’s structural supply-demand gap.
Global MLCC supply-demand dynamics remain persistently tight. Leading Japanese and Korean manufacturers have successively raised prices, with multiple brands implementing across-the-board price hikes across all product lines. Compounded by constrained overseas production capacity and long-term customer order commitments locking up major manufacturers’ forward capacity, lead times for premium MLCC products have now stretched beyond twenty weeks, leaving supply unable to keep pace with surging orders.
CSC Financial’s research report states that as AI server power requirements continue rising, both the quantity and quality demands for chip inductors and chip capacitors serving GPUs/TPUs are increasing substantially. Based on projected GPU/TPU shipment volumes for 2027 and 2028, the chip inductor and chip capacitor sectors are poised for explosive growth.
Below is a curated list of relevant companies. We recommend liking and bookmarking this article for future reference.
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I. MLCC Product Segment
This segment directly benefits from MLCC price increases—the core link in the value chain—where domestic industry leaders, leveraging scale and technological advantages, are first to gain.
Core rationale: Converging demand drivers—including AI servers, automotive electronics, and recovering consumer electronics—are jointly pushing MLCC volume and pricing upward.
Relevant companies:
1. Fenghua Advanced Technology: China’s leading MLCC manufacturer, with industry-leading production capacity and technical capabilities; actively expanding into high-capacitance and automotive-grade products.
2. Sanhuan Group: Masters core MLCC materials and manufacturing technologies, holding competitive advantages in ceramic powder and dielectric materials.
3. Yuntun Technology: Specializes in precision molds and critical components for MLCCs, providing essential support to the industry.
4. Hongyuan Electronics: Holds a prominent position in the military-grade MLCC market, benefiting from national defense informatization initiatives.
5. Torch Electron: A long-standing MLCC specialist with leading-edge expertise in specialty ceramic capacitors.
6. Zhenhua Technology: Its subsidiary Zhenhua Fu ranks among China’s key MLCC suppliers, with broad applications across defense and high-end electronics.
7. Dalikaipu: Focuses on RF/microwave MLCCs, maintaining competitiveness in 5G and communications sectors.
II. MLCC Raw Materials Segment
Raw materials form the foundation of the MLCC supply chain—price fluctuations and technological breakthroughs here directly reshape industry dynamics.
(1) Release Films
Core rationale: Release films are critical consumables in the MLCC tape-casting process, used to carry ceramic slurry and peel off before sintering. Their flatness and heat resistance directly affect MLCC yield. As MLCC production expands and the share of high-capacitance products rises, requirements for release film quality and stability are intensifying.
Relevant companies:
1. Jie Mei Technology: China’s leading release film manufacturer, deeply integrated with major MLCC producers such as Fenghua Advanced Technology and Sanhuan Group; one of only a few domestic firms capable of supplying high-end MLCC release films.
2. Shuangxing New Materials: Engaged in optical-grade and electronic-grade thin-film materials; MLCC release films represent a key business segment.
3. Sdick: Specializes in functional coated composite materials; MLCC release films rank among its core products.
(2) Metallic Powders
Core rationale: Metallic powders—primarily nickel and copper powders—are core materials for MLCC internal electrodes. Their purity, particle-size distribution, and sphericity directly determine MLCC electrical performance and reliability. As MLCCs trend toward miniaturization and higher capacitance, technical requirements for metallic powders are becoming increasingly stringent.
Relevant companies:
1. Boneng New Materials: A leading domestic nanoscale metallic powder supplier, with broad applications across MLCCs and electronic pastes; serves as a core supplier to Fenghua Advanced Technology and Sanhuan Group.
2. Yue’an New Materials: Specializes in carbonyl iron powder, nickel powder, and other metallic powders; holds strong competitiveness in MLCC internal electrode materials.
3. YGPM: Leverages R&D strengths from the General Research Institute for Nonferrous Metals, maintaining deep expertise in electronic metal powders including copper and silver powders.
(3) Dielectric Ceramic Powders
Core rationale: Dielectric ceramic powders—primarily barium titanate-based ceramics—are the “heart” of MLCCs, determining capacitance, temperature stability, and voltage-withstanding capability. This segment represents the highest technical barrier in the MLCC value chain. High-capacitance and automotive-grade MLCCs impose exceptionally rigorous requirements on dielectric ceramic powder formulations and sintering processes.
Relevant companies:
1. Sinocera: A globally leading supplier of MLCC dielectric ceramic powders, mastering core formulations and sintering technologies; offers full-series products from standard to high-capacitance grades and maintains deep partnerships with international giants such as Murata and Samsung Electro-Mechanics.
2. Sanhuan Group: Features an integrated vertical supply chain—from dielectric ceramic powders to finished MLCCs—and produces high-purity barium titanate powder in-house, delivering clear cost and technology advantages.
3. Fenghua Advanced Technology: Through its subsidiary Fenghua New Materials, develops dielectric ceramic powders to secure its own supply while also offering select products externally.
4. Zhongci Electronics: Specializes in electronic ceramic materials and devices, accumulating technical expertise in ceramic powders for high-frequency, high-voltage MLCCs.
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