SEMCO Leads 4Q26 OEM Price Hikes, Signaling Start of MLCC Industry Upcycle, Says TrendForce

South Korean manufacturer SEMCO has taken the lead in raising 4Q26 prices for OEM and ODM customers, according to TrendForce’s latest MLCC industry research. This marks a departure from the company’s previous practice of limiting price adjustments to distributors and signals that the MLCC industry has officially entered an upcycle.

TrendForce estimates that SEMCO will raise prices for consumer-grade X5R products by an average of 25–30% for OEM and ODM customers. The move is intended to curb demand for orders and free up capacity for the expansion of high-end production lines. 

For high-end X6S products used in AI servers, price increases will vary depending on customer negotiations, with average hikes expected to range from 10% to 20%. Japanese suppliers Murata, Taiyo Yuden, and Kyocera are currently taking a wait-and-see approach and keeping prices unchanged. Whether they follow with price increases will be a key indicator of whether the uptrend broadens across the industry.

Taiwanese and Chinese suppliers are also expected to maintain upward pricing momentum in 4Q26 as they benefit from spillover orders for mid- to high-capacitance consumer-grade products. TrendForce forecasts average price increases of 10–20%, primarily targeting this segment. Capacity utilization rates are rising in tandem, with some suppliers already approaching 90%.

Meanwhile, sustained demand from AI data centers has widened supply gaps for optical communication modules. This has further tightened MLCC demand and prompted suppliers to seek additional support from Taiwanese and Chinese manufacturers. By contrast, the outlook for traditional ICT and automotive markets remains conservative. Slowing economic momentum in China and the U.S., coupled with pressure on consumer confidence, could leave traditional end markets facing a weaker-than-usual peak season in 2H26.

TrendForce notes that spillover orders for mid- to high-capacitance consumer-grade products are driving up utilization rates at Taiwanese and Chinese suppliers, while SEMCO’s latest price increases further confirm that the MLCC industry has entered a new pricing upcycle. Whether Japanese suppliers such as Murata and Taiyo Yuden follow suit will be a key indicator of the next stage of price increases. TrendForce expects the MLCC supply-demand gap to widen further in 4Q26, keeping prices on an upward trajectory.