The MLCC market in the fourth quarter shows polarization in shipments, with Japanese and Korean suppliers benefiting from strong AI infrastructure orders and growth, while Taiwanese and Chinese suppliers face declines due to weak consumer electronics. Overall demand forms a K-shaped development, with consumer electronics underperforming in peak season amid economic slowdown and geopolitical influences, while AI demand remains robust. High-end MLCC demand continues to grow, with strict inventory control and capacity shifts toward high-end products.

Key Highlights

• Shipment Changes: Fourth-quarter MLCC supplier shipments polarize, with Japanese and Korean firms supported by AI infrastructure orders leading to growth; Taiwanese and Chinese suppliers see declines in consumer applications, tightening capacity and inventory.
• Demand Trends: Global consumer electronics show weak peak-season performance due to economic slowdown and geopolitical impacts, with reduced purchasing power in Chinese and U.S. markets; AI infrastructure demand is strong, forming a K-shaped industry development, boosting high-end MLCC (high-capacity, high-voltage, high-temperature) needs.
• Inventory Status: Holiday demand falls short of expectations, slowing smartphone and laptop stockpiling, with suppliers controlling mid-to-low capacity production and inventory; AI server specifications face tight inventory, prompting Japanese and Korean firms to expand capacity for future orders.
• Future Outlook: High-end MLCC gains strategic importance, benefiting from platform transitions and custom chip scaling, leading to modest total demand increase, though offset by consumer electronics weakness.

Table of Contents

1. Overview of Global Macroeconomic Conditions in 4Q25
2. Market Shares of Top 10 MLCC Suppliers in 4Q25
3. Production Capacity and Shipments of Top 10 MLCC Suppliers
4. BB Ratio
5. Inventory Levels of Top 10 MLCC Suppliers
6. Quarterly Shipments of Top 10 MLCC Suppliers
7. Supply-Demand Dynamics of MLCC Market in 1Q26
8. Price Trends of Different Categories of MLCCs in 2Q26
9. Annual MLCC Demand from Major Applications
10. Revenues of Top 10 MLCC Suppliers

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