MLCC Dielectric Materials Market is to Touch $37.2 Billion by 2030; Expanding Medical and Healthcare Sector and Growing Electrical and Electronics Sectors are fueling the propels market growth.

The MLCC Dielectric Materials Market size is estimated to reach $37.2 billion by 2030, growing at a CAGR of 13.6% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “MLCC Dielectric Materials Market – By Type (General Capacitor, Array, Serial Construction and Mega Cap.), By Dielectric Type (Class I (C0G, X8G, U2J) and Class II (X7R, X5R, Y5V, X7S)), By Rated Voltage Range(Low Range, Mid-Range and High-Range and Others), By End-Use Industry (Electrical & Electronics, Medical & Healthcare, Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicle), Industrial, Telecommunication and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” ; Expanding Medical and Healthcare Sector and Growing Electrical and Electronics Sectors are fueling the growth of the MLCC Dielectric Materials industry during the forecast period.

In 2023, the Asia-Pacific region dominated the MLCC Dielectric Materials Market with a 45% share, fueled by significant investments in healthcare and increasing automotive production. China, South Korea, and India are anticipated to drive further demand for MLCC Dielectric Materials due to their expanding automotive industries. In China, automotive production and sales reached approximately 10.7 million units from January to May 2023, a notable 11.1% increase year-over-year, driven by advancements in technologies such as autonomous and electric vehicles. Similarly, India's automotive production surged to 25.9 million units from April 2022 to March 2023, up from 23 million units the previous year. South Korea also reported a production of 3.76 million units in December 2022. This growing automotive output across these APAC countries is set to further boost the demand for MLCC Dielectric Materials, enhancing the market's growth prospects in the region.

The aging population and advancements in the medical and healthcare sectors are driving increased demand for MLCC Dielectric Materials. These materials are essential in various implantable medical devices, including stomach stimulators, artificial cochleas, and drop foot appliances. Additionally, they are crucial for portable and wearable medical devices, such as sleep apnea syndrome devices, electrocardiograms, and blood gas analyzers. According to the International Trade Administration, Mexico’s local production of medical devices and equipment rose from US$16.33 billion in 2022 to US$17.31 billion in 2023. Similarly, in China, the medical device market is anticipated to grow at a CAGR of 6.2% from 2024 to 2030, reaching US$38.4 billion by 2025. This growing demand for medical devices and applications will likely drive further expansion in the MLCC Dielectric Materials market over the forecast period.

MLCC Dielectric Materials, such as ferroelectric barium titanate and polyethene terephthalate film, are extensively used in electrical and electronics equipment, including smartphones and portable personal computers. These materials are favoured for their reliability and cost-effectiveness. According to the Indian Brand Equity Foundation (IBEF), India's electronics manufacturing industry is projected to reach US$520 billion by 2025. Additionally, in 2022, the Government of Canada launched the Semiconductor Challenge Callout, with a US$150 million fund through the Strategic Innovation Fund to bolster the development and supply of semiconductors. This growing emphasis on electronics will drive the demand for MLCC Dielectric Materials, contributing to the industry's growth during the forecast period.

Key companies profiled in the MLCC Dielectric Materials Market Darfon Electronics Corp., Kemet Corporation, Kyocera Corporation (AVX Corporation), Murata Manufacturing Co. Ltd., Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co. Ltd., TDK Corporation, Vishay Intertechnology Inc., Walsin Technology Corporation, Yageo Corporationand others.