Wstęp:
As the release date of the highly anticipated iPhone 15 approaches, major Original Design Manufacturers (ODMs) are actively preparing materials, driving an improvement in industry demand. Recent trends in the Multi-Layer Ceramic Capacitors (MLCC) shipment volumes indicate a warming trend, with the BB Ratio for July rising from 0.84 in April to 0.91. The total shipment volume has also increased, rising from 3,450 billion units in March to 3,890 billion units in June, indicating a significant 12% growth and a potential recovery.
Embracing the traditional peak season for consumer electronics in the third quarter, Apple is set to unveil the iPhone 15 at the end of Q3. Leading ODMs such as Foxconn and Luxshare have already initiated material preparation by the end of June. The support from New Network Technology (5G), AI servers, and new iPhone 15 orders has driven Murata, Taiyo Yuden, and Samsung to break through the critical BB Ratio line in early July. Market experts believe the MLCC industry has passed the bottom of the cycle. Looking ahead to the second half of the year, the fundamental pressures on the original manufacturers have reduced, with capacity utilization at around 70%, and the combined efforts of the industry chain’s inventory levels are poised to stabilize or even slightly increase prices.
The Ongoing Recovery in MLCC Industry:
With the imminent release of the iPhone 15 and the robust demand for consumer electronics in the third quarter, the MLCC industry is experiencing a revival. The recent upturn in MLCC supply and shipment volumes indicates an encouraging trend after a period of challenges.
1. Rise in BB Ratio:
The BB Ratio, a crucial indicator of supply and demand balance, showed improvement in July, standing at 0.91. This represents a positive rebound from the ratio of 0.84 in April, signalling a growing demand for MLCC components.
2. Surging Shipment Volumes:
From March to June, MLCC shipment volumes surged from 3,450 billion units to 3,890 billion units, witnessing a substantial % growth rate of 12%. This increase is attributed to the growing demand from smartphone manufacturers and other consumer electronic devices.
3. Preparations for iPhone 15 Launch:
The imminent release of the iPhone 15 has accelerated the material preparation process among major ODMs like Foxconn and Luxshare. Launching new models and orders has contributed significantly to the increasing demand for MLCC components.
4. Breakthrough of BB Ratio:
The strong support from emerging technologies like 5G and AI servers, coupled with the new iPhone 15 orders, has boosted the BB Ratio for Murata, Taiyo Yuden, and Samsung. This milestone indicates a potential turnaround for the MLCC industry.
Outlook for the Second Half of the Year:
The MLCC industry is expected to witness further improvements and stabilization in the year’s remaining months.
1. Reduced Fundamental Pressures:
The original manufacturers in the MLCC industry are experiencing reduced fundamental pressures as demand picks up. This positive development is expected to contribute to the industry’s overall recovery.
2. Capacity Utilization at Optimal Levels:
Capacity utilization has reached around 70%, signalling a healthier balance between supply and demand. This level of utilization is indicative of improved market conditions.
3. Stabilizing Inventory Levels:
The collaborative efforts within the industry chain have resulted in stabilized inventory levels. The steady supply and demand dynamics are expected to support stable or slightly increased prices.
Conclusion:
The MLCC industry is showing promising signs of recovery, driven by the impending release of the iPhone 15 and the traditional peak season for consumer electronics in the third quarter. The rise in BB Ratio, increasing shipment volumes, and preparation for the iPhone 15 launch all indicate a positive trend for the MLCC market. As the industry heads into the year’s second half, reduced fundamental pressures, optimal capacity utilization, and stabilized inventory levels are expected to sustain the recovery momentum and potentially lead to moderate price increases. With the future looking brighter, stakeholders in the MLCC industry can embrace this new phase of growth with renewed optimism.
