PSA Technology: Stretching the MLCC Market: Implications for the Industry and Murata Mfg (6981 JP)
Tags: Murata (6981 JP), Taiyo Yuden (6976 JP), TDK (6762 JP), Samsung Electro-Mechanics (009150 KS), Yageo (2327 TT), Tesla (TSLA US), Walsin Technology (2492 JP), Kyocera (6971 JP), Kemet (KEM US), Apple (AAPL US), Huawei (pvt.), Xiaomi (1810 HK), Panasonic (6752 JP), Maxwell Technologies (MXWL US)If you talk to procurement officers at companies like gaming equipment maker, Turtle Beach (HEAR US), MLCC supply is becoming one of the biggest bottlenecks in getting electronic products to market. Components distributor TTI (part of Berkshire Hathaway [BRK/A US]) order lead times are now over 6 months in some designs. What is odd about this is that MLCCs are hardly your archetypal niche product reliant on one or two manufacturers. The industry is a US$14bil one with multiple suppliers. However, circumstances have converged to create a strong tailwind, which is driving pricing and volumes higher.
This report looks at how the MLCC has come to be in this position, how the market dynamics are again changing, and what we can expect going forward. It also looks at the implications of these changes for the world’s largest supplier of MLCCs, Murata Mfg (6981 JP). Murata is positioned at the premium end of MLCC manufacturing and MLCCs are muscling in on ever more areas of electronic manufacturing endeavour.
To help us understand Murata’s advantages, Pelham Smithers explains what capacitors are and what they do, what MLCCs are and what they do, and why there is a huge expansion underway in their use . Used in computers and dumb phones, then in smartphones, MLCCs are muscling in on growing business areas such as EVs and IoT. Pelham focuses on Murata’s position in this area and explains how it can continue to maintain a hold at the premium end of MLCC manufacturing.
Murata Manufacturing is mainly engaged in the development, manufacture and sale of electronic components and modules in Japan, North America and certain other Asian and European countries. Co.'s products are sold mainly to electronics companies for use as components in telecommunication, computer, audio, video, automotive electronics and other electronic products. Co. is engaged in the development, manufacture and sale of electronic parts and related products, including components for capacitors and piezoelectric products, as well as modules products; the provision of welfare services, personnel services, education and training services, as well as the leasing and management of real estate.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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