The global film capacitors market size is likely to reach USD 3 billion by 2023. It is projected to surpass USD 3.9 billion by 2033. The market is estimated to witness steady growth at a CAGR of 2.6% over the forecast period 2023 to 2033.
Film capacitor market refers to the global industry engaged in the production, distribution, and use of film capacitors. A film capacitor is an electronic component that stores and releases electrical energy. Consumers prefer it due to its excellent electrical properties, reliability, and durability.
Film capacitors typically consist of thin dielectric films made from materials such as polyester (PET), polypropylene (PP), polyethylene terephthalate (PET), or polycarbonate (PC). The dielectric film acts as an insulator, allowing the capacitor to store and release electrical energy.
Film capacitors are used across several sectors such as:
The film capacitor market is driven by factors such as increasing demand for energy-efficient solutions, growth in the consumer electronics industry, growth in renewable energy assets, and expansion in the automotive sector. Technological advances such as improved performance characteristics and miniaturization also contribute to market growth.
| Attributes | Key Insights |
|---|---|
| Film Capacitors Market Estimated Size (2023E) | USD 3 billion |
| Projected Market Valuation (2033F) | USD 3.9 billion |
| Value-based CAGR (2023 to 2033) | 2.6% |
| Historical CAGR (2018 to 2022) | 3.8% |
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Future Market Insights (FMI) mentions that the global film capacitors market is projected to showcase a CAGR of 2.6% in the forecast period. In the historical period between 2018 and 2022, the market witnessed a decent CAGR of 3.8%.
Governments and regulators around the world are implementing stringent energy efficiency standards for several sectors. Film capacitors play an important role in improving the energy efficiency of electronic devices and systems by reducing power losses and refining power factor correction.
Film capacitors are used in a range of industrial applications such as motor drives, power supplies, lighting systems, and industrial automation. Due to the progress of industrialization and automation in emerging countries, the demand for film capacitors in this field is increasing.
With the development of smart grids and the integration of renewable energy sources, energy storage systems are becoming increasingly important. Film capacitors are preferred by users in smart grid energy storage applications since they contribute to grid stability, power quality, and efficient energy management.
Diverse sectors have specific requirements and standards for capacitors depending on the application. If industry standards and regulations prioritize alternative capacitor technologies over film capacitors, it could affect demand in those sectors.
The perception and understanding of film capacitors by manufacturers, designers, and end-users can influence demand. If potential users are unaware of the benefits and applications of film capacitors or are unfamiliar with their performance characteristics, their adoption can be limited and demand hindered.
Which Factors Are Responsible for Hindering Film Capacitors Demand Globally?
Principal Consultant
Proliferation of Electric Vehicles to Propel Need for Film Capacitors in the United States
The United States has a large, technologically advanced consumer electronics market. The popularity of smartphones, tablets, smart home devices, and other electronic devices has increased the demand for film capacitors.
Film capacitors are used in several consumer electronics applications such as power supplies, displays, audio systems, and communication devices.
The automotive sector is also experiencing significant growth, including the proliferation of electric vehicles (EV) and hybrid electric vehicles (HEV). Film capacitors play an important role in automotive electronics for energy management, motor drives, and energy storage.
Demand for film capacitors in the automotive industry is driven by the move to electric and hybrid vehicles and an increasing focus on energy efficiency.
The United States has also focused on increasing renewable energy capacity, particularly solar and wind power. Film capacitors are widely used in renewable energy systems such as solar inverters and wind turbines.
Rising renewable energy assets and the need for efficient energy storage and management contribute to the demand for film capacitors.
The industrial sector is also increasingly dependent on automation and advanced manufacturing technology. Film capacitors are essential components in industrial automation systems, providing power conditioning, filtering, and energy storage.
The demand for film capacitors in industrial automation is driven by the need for improved energy efficiency, reliability, and control over the manufacturing process.
The country is estimated to be valued at USD 709.6 million, having surged at 2.6% CAGR through 2033.
Advancements in Film Capacitor Technology to Spur Demand in China
In China, infrastructure development projects such as transportation, telecommunications, and smart grid systems are creating demand for film capacitors.
Film capacitors are used in power electronics, energy storage systems, and voltage regulation, and contribute to the modernization and efficiency of infrastructure networks.
Advances in film capacitor technology such as improved performance, increased capacitance, higher voltage ratings, and smaller size have resulted due to customer demands. Manufacturers continuously innovate to meet the changing needs of diverse sectors and applications, supporting the sales of film capacitors.
China places greater emphasis on energy efficiency and sustainability. Film capacitors are considered a key component for achieving energy efficiency goals. This is due to their high energy efficiency, low power loss, and excellent self-healing properties.
The growing awareness and focus on energy efficiency have further increased the demand for film capacitors.
China film capacitors industry is likely to witness a CAGR of 2.5% from 2023 to 2033, and reach USD 837.6 million by its end.
Rising Focus on Renewable Energy Sources in Japan to Flourish Sales
Japan is actively promoting energy efficiency and sustainability in several fields. Film capacitors are preferred amongst consumers across diverse sectors for their high energy efficiency, low power loss, and excellent self-healing properties. They contribute to energy savings, power factor improvement, and improved system performance.
Due to the emphasis on energy efficiency and the need to comply with energy efficiency regulations, Japan-based companies are promoting the adoption of film capacitors.
The automotive sector is crucial in Japan, and known for its innovation and high standards.
With the proliferation of electric vehicles (EV) and hybrid electric vehicles (HEV), film capacitors play an important role in automotive electronics for energy management, motor drive, and energy storage. The growth of the electric vehicle market in Japan has increased the demand for film capacitors.
Japan has put greater focus on renewable energy sources, especially after the Fukushima nuclear disaster. Film capacitors are widely used in renewable energy systems such as solar inverters and wind turbines.
The increasing investment in renewable energy installations and the need for reliable energy storage solutions are driving the adoption of film capacitors in Japan.
As per FMI, film capacitors industry in Japan is likely to witness a CAGR of 2.3% from 2023 to 2033, and reach USD 745.2 million.
High Performance of Paper Material to Propel Their Demand by 2033
In terms of material type, the paper category is projected to showcase a CAGR of 2.5% from 2023 to 2033. It exhibited a decent CAGR of 3.7% during the historical period.
Film capacitors typically use thin dielectric films of several materials, but the paper is commonly used as the dielectric material in modern film capacitors. Paper is used in some older types of capacitors, such as paper-in-oil (PIO) and paper capacitors.
A paper capacitor consists of a paper dielectric impregnated with insulating oil or wax, sandwiched between two metal foil electrodes. These capacitors were mostly used in older electronics and had limited capacitance, voltage, and frequency capabilities.
Modern film capacitors are based on the use of synthetic dielectric materials that offer superior performance and reliability compared to paper.
Film capacitors are widely used in AC applications due to their excellent electrical properties and suitability for high-frequency operation.
AC Application Segment to be the Leading Application of Film Capacitors
Based on application, the AC application segment is likely to lead the global film capacitors market through 2033. It is projected to exhibit a CAGR of 2.4% in the assessment period, as compared to a 3.5% CAGR from 2018 to 2022.
Film capacitors are commonly used as motor-run capacitors in AC induction motors. These capacitors provide the phase shift and reactive power needed to start and run the motor efficiently. They are widely preferred by consumers since they help improve engine performance, power factor, and torque output.
Film capacitors are excellent for high-frequency AC applications due to their low dielectric loss and high insulation resistance. They are also used in AC applications that require fast switching.
Film capacitors are used as AC coupling capacitors in audio amplifiers, communication circuits, and signal-processing systems. This allows for effective signal combining and amplification by passing AC signals while blocking DC components.
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A competitive analysis of the film capacitor market reveals a highly competitive landscape characterized by multiple key players within the industry. These companies focus on developing innovative products, executing merger and acquisition strategies, and expanding distribution networks to strengthen their market position.
These players compete based on product innovation, quality, pricing, and distribution network. Furthermore, market players are investing heavily in research and development activities to introduce more efficient, reliable, and advanced film capacitors.
Each player is focusing on expanding their sales networks to expand their market reach and meet the growing demand for film capacitors in several regions.
For instance, in August 2021, KEMET Corporation announced an expanded distribution agreement with TTI, Inc., a global distributor of electronic components.
The competitive environment in the film capacitor market is expected to remain intense in the coming years due to the rising demand for high-performance capacitors and the emergence of new entrants.
| Attributes | Details |
|---|---|
| Estimated Market Size (2023) | USD 3 billion |
| Projected Market Valuation (2033) | USD 3.9 billion |
| Value-based CAGR (2023 to 2033) | 2.6% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Market Segments Covered | Material Type, Application, and End Use |
| Key Companies Profiled | AVX Corporation; Cornell Dubilier Electronics, Inc.; KEMET Corporation; Nichicon Corporation; Panasonic Corporation |
The film capacitors industry stood at a valuation of USD 2.9 billion in 2022.
South Korea's film capacitors industry is estimated to exhibit a 2.3% CAGR in the forecast period.
Japan film capacitors industry is anticipated to create an absolute dollar opportunity of USD 166.9 million by 2033.
China's film capacitors industry is projected to exhibit a CAGR of 2.5% in the evaluation period.
Based on the application, the AC application segment is likely to lead and showcase a 2.4% CAGR from 2023 to 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Paper 5.2. Plastic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. AC Application 6.2. DC Application 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Automotive 7.2. Consumer Electronics 7.3. Manufacturing 7.4. Communication & Technology 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. AVX Corporation 18.2. Cornell Dubilier Electronics, Inc. 18.3. KEMET Corporation 18.4. Nichicon Corporation 18.5. Panasonic Corporation 18.6. TDK Corporation 18.7. Vicor Corporation 18.8. Vishay Intertechnology, Inc. 18.9. WIMA GmbH & Co. KG 18.10. Wurth Elektronik GmbH & Co. KG 19. Assumptions & Acronyms Used 20. Research Methodology
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