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Global growth is slowing under tariff and inflation pressures, while AI drives ICT but crowds out capacity and lifts costs, pushing up prices for memory, PCB and end devices, which may curb demand. Supply chains are split between fully loaded AI segments and constrained consumer products, shifting vendors’ focus from aggressive growth toward tighter risk management.
In 2025, global economic growth slows due to US-China trade policies. The demand for AI chips boosts the need for advanced MLCCs, with cautious expansion by Japanese and Korean firms and low-price strategies by Taiwanese and Chinese companies, leading to a polarized market. Consumer electronics demand remains weak, prioritizing supply-demand balance.
US economy slows, curbing consumer spending; memory shortages drive PC laptop price hikes and shipment cuts; AI data centers fuel CSP self-developed chips like Google TPU, boosting high-spec MLCC demand where Japanese/Korean firms like Murata lead yields on new products amid supply risks.
Memory price surge continues into 1Q26, pushing BOM cost to a critical point. Brands freeze price cuts and downsize specifications, facing severe sales challenges.
Driven by price hikes rather than volume, holiday sales mask weak demand, leading to a conservative Q1 outlook and strict inventory control. However, strong demand for AI chips (e.g., TPUs) boosts high-end MLCCs. Suppliers are expanding in SE Asia and prepping capacity for future AI growth.
With slowed global growth and weak demand in consumer and automotive markets, AI infrastructure drives MLCC profit; polarization ahead as high-end product demand rises, impacting vendor strategies.
Soaring memory prices increase system costs and retail prices, hurting the consumer market. TrendForce thus lowered 2026 shipment forecasts for smartphones, notebooks, and game consoles. Game console makers may abandon price cuts due to costs, shifting to high-price, profit-preserving strategies.
Driven by mobile and AI demand, leading MLCC suppliers maintained stable performance; consumer and automotive segments face pricing pressure.
Seasonal stocking falls short, 1Q26 MLCC demand weakens, ODM shipments decline. Consumer markets in China and US weaken, orders for mobiles and laptops fall, DRAM prices rise. Suppliers control production, MLCC demand soft. AI demand steady, major suppliers expand capacity.
Memory is entering a strong upward cycle, driving a significant rise in overall device BOM cost. To maintain profit margins, brands are adjusting their high-, mid-, and low-tier product mixes and implementing tiered hikes on retail prices. Soaring memory prices, coupled with a weak macro economy, create dual headwinds that will suppress production and shipment momentum for consumer electronics in 2026.
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