Sample pages provided by: MarketResearch.com Contact us: Call ‐ 1.800.298.5699 OR +1.240.747.3093 Int’l Fax ‐ 240.747.3004 Email ‐ customerservice@marketresearch.com Our Offices: Headquarters‐Rockville, MD 11200 Rockville Pike Suite 504 Rockville, MD 20852 240.747.3000 t 240.747.3004 f New York, NY 38 East 29th Street, 6th Floor New York, NY 10016 212.807.2600 t 212.807.2676 f North Adams, MA 131 Ashland Street Suite 200 North Adams, MA 01247 212.807.2600 t 413.664.9791 f London, England 37‐39 Lime Street London, EC3M 7AY +44 207 2563920 t +44 207 626 4693 f Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Polymer Aluminum Capacitors:
World Markets, Technologies & Opportunities: 2012-2017
Table of Contents:
Scope of Coverage: ................................................................................................................................................................................... 18 Reason For The Report: ............................................................................................................................................................................ 18 Background of The Report: ...................................................................................................................................................................... 18 Historical Development of Polymer Aluminum Capacitors: ................................................................................................................ 18 Why Lower The ESR In A Capacitor? ................................................................................................................................................. 20 The Different Types of Conductive Polymers Employed In Capacitor Cathodes: ............................................................................... 20 The Difference in Conductive Polymer Performance In The Finished Capacitor: ............................................................................... 20 Variations on Construction and Capacitor Configuration: ................................................................................................................... 20 Key End-Use Markets For Conductive Polymer Aluminum Capacitors: ............................................................................................. 21 Competitive Nature of The Industry: .................................................................................................................................................... 21 Market Potential and Growth: ............................................................................................................................................................... 22 Conductive Polymer Aluminum (Al203) Capacitors: .............................................................................................................................. 22 Horizontal Molded Chip Polymer Aluminum Capacitors (H-Chip) : .................................................................................................. 22 Vertical Chip Polymer Capacitors (V-Chip)......................................................................................................................................... 23 Radial Leaded Polymer Aluminum Capacitors .................................................................................................................................... 24 Conductive Polymer Aluminum Capacitors: 2012 Market Overview:..................................................................................................... 25 Global Market Growth and Forecasts For Conductive Polymer Aluminum Capacitors By Type and Dielectric: FY 2005-2012
Actual; FY 2013 Forecast: ................................................................................................................................................................ 25 2012 FY Market Versus 2011 FY Market .................................................................................................................................... 25 FY 2013 Market Outlook:............................................................................................................................................................. 25 Historical Market Growth Since 2005: ......................................................................................................................................... 26 ©2012 Paumanok Publications, Inc.
3
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Polymer Aluminum Capacitor Markets By Configuration: 2012 ........................................................................................................ 28 Solid Polymer Aluminum Molded Chip Capacitors: Value, Volume and Average Unit Pricing: 2011-2012 and 2013 Forecasts . 28 Vertical Polymer SMD Chip Capacitors: Value, Volume and Average Unit Pricing: 2011-2012 and 2013 Forecasts ................... 28 Radial Leaded Polymer Aluminum Capacitors: Value, Volume and Average Unit Pricing: 2011-2012 and 2013 Forecasts ........ 28 Polymer Aluminum Capacitors As A Subset To The Total Aluminum Capacitor Markets: FY 2012 ............................................... 30 Conductive Polymer Capacitor: Demand By End-Use Market Segment: FY 2012 ................................................................................. 31 Personal Computers and Peripherals: ................................................................................................................................................... 31 Consumer Audio and Video Imaging Equiment:.................................................................................................................................. 31 Power Supplies and DC/DC Converter Brick Modules:....................................................................................................................... 31 Automotive Electronic Subassemblies: ................................................................................................................................................ 32 Other Markets: ...................................................................................................................................................................................... 32 Polymer Aluminum Capacitors: Demand By World Region: FY 2012 ............................................................................................... 35 The Asian Markets For Conductive Polymer Aluminum Capacitors: FY 2012 ............................................................................... 36 Greater China: ............................................................................................................................................................................... 36 Japan: ............................................................................................................................................................................................ 37 Europe: .............................................................................................................................................................................................. 37 USA: ................................................................................................................................................................................................. 38 Competitive Environment In Conductive Polymer Capacitors: ........................................................................................................... 38 Aihua (Aishi) {China} .......................................................................................................................................................................... 38 Aihua (Aishi) - Conductive Polymer Capacitors at Aihua Group (Types PZ and and PS): ............................................................. 38 Apaq {China} ....................................................................................................................................................................................... 38 Apaq - Conductive Polymer Capacitors: .......................................................................................................................................... 38 Apaq AP-CON Aluminum: Radial Leaded Solid Polymer Capacitor:......................................................................................... 38 Apaq AP-Cap Molded Chip Solid Polymer Aluminum Capacitor: .............................................................................................. 38 Carlit/Rubycon {Japan} ........................................................................................................................................................................ 39 Rubycon – Carlit PC-Con Molded Chip Conductive Polymer Aluminum Capacitors: ............................................................... 39 Chinsan {China} ................................................................................................................................................................................... 39 Chinsan Polymer Aluminum Capacitor Lines: ................................................................................................................................. 39 Elna {Japan} ......................................................................................................................................................................................... 40 Elna PV Series Conductive Polymer Aluminum Capacitor ............................................................................................................. 40 Elna PVG Series: .......................................................................................................................................................................... 40 ©2012 Paumanok Publications, Inc.
4
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Elna PVX Series: .......................................................................................................................................................................... 40 Elna PV2 Series: ........................................................................................................................................................................... 40 Elna PVM Series:.......................................................................................................................................................................... 40 Elna PVH Series: .......................................................................................................................................................................... 41 Elna PVO Series: .......................................................................................................................................................................... 41 Elna Additional Notes (RYK Series) ............................................................................................................................................ 41 Enersol {Korea ROK} .......................................................................................................................................................................... 41 Enersol Radial Leaded Type: ........................................................................................................................................................ 41 Enersol SMD Type: ...................................................................................................................................................................... 41 FPCap {China} ..................................................................................................................................................................................... 42 FPCap Radial Leaded Type (RE): ................................................................................................................................................ 42 FPCap SMD Type (ME): .............................................................................................................................................................. 42 Jamicon/Kaimei {China} ...................................................................................................................................................................... 43 Jamicon Conductive Polymer Radiual Leaded Designs: .................................................................................................................. 43 Jamicon PS Type Radial Leaded Low ESR .................................................................................................................................. 43 Jamicon PT Type Radial Leaded Super Low ESR ....................................................................................................................... 43 Jamicon PH Type Radial Leaded Low ESR Capacitors ............................................................................................................... 43 Jamicon The PC Type Chip V-Chip Solid Polymer Aluminum Capacitor .................................................................................. 43 Jamicon The PF Type V-Chip with Super Low ESR ................................................................................................................... 44 Jamicon The PB Type V-Chip with Super Low ESR & High Heat Resistance ........................................................................... 44 Kemet {USA} ....................................................................................................................................................................................... 44 Kemet A700 Series AO-CAP ....................................................................................................................................................... 44 Lelon {China} ....................................................................................................................................................................................... 44 Lelon Radial Leaded Conductive Polymer Capacitor Line: ............................................................................................................. 44 Lelon OCR Radial Capacitor Line:............................................................................................................................................... 44 Lelon OCV Chip Capacitor Line: ................................................................................................................................................. 45 Man Yue {China} ................................................................................................................................................................................. 45 Man-Yue Radial Leaded Conductive Polymer Aluminum X-Con: .................................................................................................. 45 Man-Yue Vertical Chip Conductive Polymer Aluminum X-Con: ................................................................................................... 45 Murata {Japan} ..................................................................................................................................................................................... 45 ©2012 Paumanok Publications, Inc.
5
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Murata Functional Polymer Aluminum Capacitor -Molded Chip ECAS Series .......................................................................... 45 Nichicon {Japan} .................................................................................................................................................................................. 45 Conductive Polymer Capacitor Line At Nichicon: ........................................................................................................................... 45 Nichicon Vertical Chip Type C Series Capacitors: ...................................................................................................................... 45 Nichicon Radial Leaded L Series Capacitors: .............................................................................................................................. 46 Nippon Chemi-Con {Japan} ................................................................................................................................................................. 46 Nippon Chemi-Con Conductive Polymer Line: ............................................................................................................................... 46 NCC PX Series V-Chip Conductive Polymer Capacitors: ........................................................................................................... 46 NCC PS Series Radial Leaded Conductive Polymer Aluminum Capacitor: ................................................................................ 47 Nippon Industries {Japan} .................................................................................................................................................................... 47 Conductive Polymer Capacitor Line at Nippon Industries ............................................................................................................... 47 NIC The New Hybrid Liquid V-Chip Aluminum Capacitor Line:............................................................................................... 47 NIC The Horizontal Molded Chip Aluminum Capaictor: ............................................................................................................ 47 Panasonic/Sanyo {Japan} ..................................................................................................................................................................... 47 Panasonic SP-Cap Polymer Aluminum Line: ................................................................................................................................... 47 Panasonic Type V-Hybird Conductive Polymer V-Chip Line: ........................................................................................................ 48 Panasonic/Sanyo OS-CON ........................................................................................................................................................... 48 SamWha {Korea ROK} ........................................................................................................................................................................ 48 SamWha Vertical Chip Type Conductive Polymer Aluminum Capacitors: .................................................................................... 48 SamWha Radial Leaded Type Conductive Polymer Aluminum Capacitors: ................................................................................... 49 SamWha Molded H Chip Type Conductive Polymer Aluminum Capacitors: ................................................................................. 49 Samyoung {Korea ROK} ..................................................................................................................................................................... 49 Samyoung Surface Mount Type: Conductive Polymer Aluminum Capacitors: ........................................................................... 49 Samyoung Radial Leaded: Conductive Polymer Aluminum Capacitors:..................................................................................... 49 Sun Electronic {Japan} ......................................................................................................................................................................... 49 Sun Electric EP Capacitor and Hybrid Polymer Electrolyte: ....................................................................................................... 49 Sun Electric EP Cap-Conductive Polymer Aluminum Product Line (Hybrid Conductive Polymer): ............................................. 50 Sun Electric HVA Surface Mount Vertical Chip Design: ............................................................................................................ 50 Sun Electric HEA Radial Leaded Design: ................................................................................................................................... 50 Teapo {China} ...................................................................................................................................................................................... 50 ©2012 Paumanok Publications, Inc.
6
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
V-Chip Conductive Polymer Aluminum Electrolytic Capacitors at Teapo: .................................................................................... 50 Radial Leaded Conductive Polymer Aluminum Electrolytic Capacitors at Teapo: ......................................................................... 51 Top 19 Global Producers of Polymer Aluminum Capacitors: 2012:.................................................................................................... 51 Major Competitive Positions By Vendor & Conductive Polymer Capacitor Configuration: FY 2012 ........................................... 53 Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Voltage: 2012 ....................................... 54 Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Life: 2012 ............................................. 55 Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Temperature: 2012 ............................... 56 Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Capacitance Value: 2012....................................... 57 Conductive Polymer Aluminum Capacitors By Vendor, Type and Equivalent Series Resistance (ESR) Value: 2012................... 58 New Market Entrants In Solid Polymer Aluminum Capacitors: 2005-2012 .................................................................................... 59 Recent Merger and Acquisition Activity in Conductive Polymer Capacitors: 2005-2012 .............................................................. 59 Panasonic Merges With Sanyo ..................................................................................................................................................... 59 Hereaus Buys Clevious, HC Starck’s Conductive Polymer Business .......................................................................................... 59 Murata Buys SDK Capacitor ........................................................................................................................................................ 59 Nichicon Buys Fujitsu Media Devices ......................................................................................................................................... 60 Rubycon and Japan Carlit Form Rubycon Carlit JV .................................................................................................................... 60 Market Shares In Conductive Polymer Aluminum Capacitors: FY 2012 ................................................................................................ 61 Market Shares In Conductive Polymer Capacitors (Molded Chip, Vertical Chip and Radial Leaded Combined): 2012................ 61 Market Shares in Molded Chip Solid Polymer Aluminum Capacitors- H-Chip Sales: FY 2012..................................................... 63 Market Shares In Vertical Chip Polymer Aluminum Capacitors: FY 2012 ..................................................................................... 64 Market Shares In Radial Leaded Polymer Aluminum Capacitors: FY 2012.................................................................................... 66 Conductive Polymer Capacitor Technologies: 2012 ................................................................................................................................ 67 Introduction To Conductive Polymer Capacitor Technology:.............................................................................................................. 67 Historical Development of Polymer Cathodes: ................................................................................................................................ 67 Solid Polymer Aluminum Capacitor Breakthrough:......................................................................................................................... 68 Solid Polymer Aluminum Capacitors: Competition With Alternative Dielectric Technologies:..................................................... 68 Competitive Nature of The Solid Polymer Horizontal Chip Capacitor: ....................................................................................... 68 Competitive Nature of Liquid + Polymer V-Chip Aluminum Capacitors: .................................................................................. 69 Competitive Nature of Radial Leaded Polymer Aluminum Capacitors: ...................................................................................... 69 Different Conductive Polymers Available To The Polymer Aluminum Capacitor Market: ................................................................ 70 Introduction To Polymers: ................................................................................................................................................................ 70 ©2012 Paumanok Publications, Inc.
7
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Those Polymers That Are Actually Used In Capacitors: .................................................................................................................. 70 Solid Electrolytic Cathode: ........................................................................................................................................................... 70 Solid Electrolytic Cathode Sealer: ................................................................................................................................................ 71 The Difference Between Polypyyrole, Polythiophene and Polyaniline In The Finished Capacitor:............................................... 71 Production Process For Conductive Polymer Anodes—Methods of Penetration: ........................................................................... 72 Electro-Polymerization Method .................................................................................................................................................... 72 Dipping Method: ........................................................................................................................................................................... 72 Current Conductive Polymer Pricing And Changes In The Market: ................................................................................................ 73 Suppliers of Conductive Polymer Materials To The Capacitor Industry: 2012 ................................................................................... 73 Heraeus- Clevios ............................................................................................................................................................................... 74 Clevios™ K For High Voltage Capacitors: .................................................................................................................................. 74 Japan Carlit Company Limited ......................................................................................................................................................... 75 Capacitor Materials From Carlit ................................................................................................................................................... 75 Agfa-Gevaert n.v............................................................................................................................................................................... 76 About Agfa-Gevaert Materials- Orgacon ..................................................................................................................................... 76 Agfa and HC Starck Agreement ................................................................................................................................................... 76 Sanyo Chemical Industries Limited .................................................................................................................................................. 77 Sanyo Electrolytes for Aluminum Electrolytic Capacitors- Sanelek ............................................................................................ 77 Suzuki Techno-Commercial Corporation (STCC) ........................................................................................................................... 78 About Suzuki Techno-Commercial Corporation .............................................................................................................................. 78 New entrants (why is this so attractive to them?) ............................................................................................................................. 78 Plextronics, Inc. ................................................................................................................................................................................ 78 About Plextronics.......................................................................................................................................................................... 79 Plexcore® OS organic semiconductive polymers ........................................................................................................................ 79 Crosslink ........................................................................................................................................................................................... 79 About Crosslink: ............................................................................................................................................................................... 80 Energy Storage Material Products at Crosslink: ........................................................................................................................... 80 Aluminum Capacitors: Cost of Goods Sold ............................................................................................................................................. 81 Aluminum Capacitors: Operating Margin: FY 2012 ........................................................................................................................ 81 Aluminum Capacitors: Cost of Sales: FY 2012................................................................................................................................ 81 ©2012 Paumanok Publications, Inc.
8
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Fixed Costs: .................................................................................................................................................................................. 81 Variable Costs: .............................................................................................................................................................................. 81 Raw Materials: .............................................................................................................................................................................. 81 Variable Overhead: ....................................................................................................................................................................... 81 Variable Labor: ............................................................................................................................................................................. 82 Variable “Other” Manufacturing: ................................................................................................................................................. 82 Raw Materials Cost Breakdown: FY 2012 ....................................................................................................................................... 83 Anode and Cathode Foils:............................................................................................................................................................. 83 Can and Sleeve:............................................................................................................................................................................. 83 Electrolytes and Associated Chemistry: ....................................................................................................................................... 83 Rubber End Seals: ......................................................................................................................................................................... 85 Separator Paper: ............................................................................................................................................................................ 85 Electrode/Tab Materials: ............................................................................................................................................................... 85 Lead Wires: ................................................................................................................................................................................... 85 PPS/Foot Tape: ............................................................................................................................................................................. 85 Other Costs: .................................................................................................................................................................................. 86 Forecasts: Conductive Polymer Aluminum Capacitor Market Outlook To 2017 .................................................................................... 88 Market Opportunities For Conductive Polymer Aluminum Capacitors In The Larger Aluminum Electrolytic Capacitor Market:
FY 2012-2017 ................................................................................................................................................................................... 88 Market Opportunities For Conductive Polymer Aluminum Capacitors In The Tantalum Capacitor Market: FY 2012-2017 ........ 90 Tantalum Capacitors: Historical Growth and FY 2013 Global Outlook: ..................................................................................... 90 Molded Tantalum Chip Demand By Case Size: Target Markets for Molded Chip Conductive Polymer Aluminum Capacitors: FY
2012................................................................................................................................................................................................... 90 Summary of Target Markets For Conductive Polymner Aluminum Capacitors: FY 2012-2017..................................................... 91 Opportunities for Polymer Radial Aluminum Capacitors (Solid and Liquid Hybrid).................................................................. 91 Opportunities for Polymer Vertical Chip Aluminum Capacitors (Solid and Liquid Hybrid). ..................................................... 92 Opportunities for Polymer Molded Chip Aluminum Capacitors (Solid Electrolyte). .................................................................. 92 Value Forecasts To 2017: ..................................................................................................................................................................... 93 Worldwide Consumption Value For Conductive Polymer Aluminum Capacitors By Configuration: 2012-2017 .......................... 93 Molded Chip Conductive Polymer Aluminum Capacitors: Global Value, Volume and Pricing Forecasts: FY 2012-2017 ....... 93 Vertical Chip Conductive Polymer Aluminum Capacitors: Global Value, Volume and Pricing Forecasts: FY 2012-2017 ....... 94 ©2012 Paumanok Publications, Inc.
9
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Radial Leaded Conductive Polymer Aluminum Capacitors: Global Value, Volume and Pricing Forecasts: FY 2012-2017 ..... 94 Sunmmary of Worldwide Consumption Value For Conductive Polymer Aluminum Capacitors By Configuration: 2012-2017 ... 94 Conductive Polymer Capacitor Manufacturers: Producer Profiles- ......................................................................................................... 96 Aihua Group (Aishi) ................................................................................................................................................................................. 96 About This Company: ....................................................................................................................................................................... 96 Affiliated Companies: ....................................................................................................................................................................... 97 Aluminum Electrolytic Product Line: ............................................................................................................................................... 97 Conductive Polymer Capacitors at Aihua Group (Types PZ and and PS): ...................................................................................... 97 Apaq Technology ...................................................................................................................................................................................... 98 Apaq Technology Company Limited................................................................................................................................................ 98 Additional Manufacturing:................................................................................................................................................................ 98 Solid Polymer Capacitor Products: ................................................................................................................................................... 98 AP-CON Aluminum: Radial Leaded Solid Polymer Capacitor: .................................................................................................. 99 AP-Cap Molded Chip Solid Polymer Aluminum Capacitor: ....................................................................................................... 99 Production Capacity:......................................................................................................................................................................... 99 Employees:........................................................................................................................................................................................ 99 Partner Companies: ........................................................................................................................................................................... 99 Carlit ....................................................................................................................................................................................................... 100 Japan Carlit Company Limited ....................................................................................................................................................... 100 Company Description: .................................................................................................................................................................... 100 Electronic Industrial Minerals Division: ......................................................................................................................................... 100 Conductive Polymer Materials: ...................................................................................................................................................... 101 Relationship With Rubycon: ........................................................................................................................................................... 101 Rubycon- Carlit Company Limited Joint Venture .......................................................................................................................... 101 PC-Con Molded Chip Conductive Polymer Aluminum Capacitors: .......................................................................................... 101 About Rubycon Corporation:.......................................................................................................................................................... 102 Chinsan ................................................................................................................................................................................................... 103 Chinsan Electronic Group ............................................................................................................................................................... 103 Description: ..................................................................................................................................................................................... 103 Aluminum Capacitor Products:....................................................................................................................................................... 103 ©2012 Paumanok Publications, Inc.
10
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Polymer Aluminum Capacitor Lines: ............................................................................................................................................. 103 Total Revenues: .............................................................................................................................................................................. 103 Japan HITACHI Technology Supply.............................................................................................................................................. 104 Manufacturing Locations: ............................................................................................................................................................... 104 ELNA ...................................................................................................................................................................................................... 105 Public Company:............................................................................................................................................................................. 105 Company Revenues: ....................................................................................................................................................................... 105 Employees:...................................................................................................................................................................................... 105 Product Lines: ................................................................................................................................................................................. 105 Aluminum Electrolytic Capacitor Product Line: ............................................................................................................................ 105 PV Series Conductive Polymer Aluminum Capacitor .................................................................................................................... 106 PVG Series:................................................................................................................................................................................. 106 PVX Series:................................................................................................................................................................................. 106 PV2 Series:.................................................................................................................................................................................. 106 PVM Series: ................................................................................................................................................................................ 106 PVH Series:................................................................................................................................................................................. 106 PVO Series:................................................................................................................................................................................. 107 Additional Notes (RYK Series) .................................................................................................................................................. 107 ENESOL ................................................................................................................................................................................................. 108 About This Company: ..................................................................................................................................................................... 108 Business Relationship: .................................................................................................................................................................... 108 Plant Capacity: ................................................................................................................................................................................ 108 Conductive Polymer Aluminum Products: ..................................................................................................................................... 109 Radial Leaded Type: ................................................................................................................................................................... 109 SMD Type: ................................................................................................................................................................................. 109 Applications For Conductive Polymer Aluminum Capacitors: ...................................................................................................... 110 FPCap...................................................................................................................................................................................................... 111 Background: .................................................................................................................................................................................... 111 Product Line:................................................................................................................................................................................... 111 Conductive Polymer Aluminum Product Types: ............................................................................................................................ 112 ©2012 Paumanok Publications, Inc.
11
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Radial Leaded Type (RE): .......................................................................................................................................................... 112 SMD Type (ME): ........................................................................................................................................................................ 112 Target Markets: ............................................................................................................................................................................... 113 Employees:...................................................................................................................................................................................... 113 Jamicon (Kaimei) .................................................................................................................................................................................... 113 About This Company: ..................................................................................................................................................................... 113 Company Revenues: ....................................................................................................................................................................... 114 Conductive Polymer Radiual Leaded Designs: .............................................................................................................................. 114 PS Type Radial Leaded Low ESR .............................................................................................................................................. 114 PT Type Radial Leaded Super Low ESR ................................................................................................................................... 114 PH Type Radial Leaded Low ESR Capacitors ........................................................................................................................... 114 The PC Type Chip V-Chip Solid Polymer Aluminum Capacitor .............................................................................................. 114 The PF Type V-Chip with Super Low ESR ............................................................................................................................... 114 The PB Type V-Chip with Super Low ESR & High Heat Resistance ....................................................................................... 115 Kemet ...................................................................................................................................................................................................... 115 Company Background: ................................................................................................................................................................... 115 Development of the AO Capacitor ................................................................................................................................................. 115 A700 Series AO-CAP ................................................................................................................................................................. 116 SMT Polymer Aluminum AO Capacitor General Specifications, Pricing and CGS ...................................................................... 116 Lelon ....................................................................................................................................................................................................... 117 About Lelon: ................................................................................................................................................................................... 117 Lelon History: ................................................................................................................................................................................. 117 Conductive Polymer Aluminum Capacitor Product Line: .............................................................................................................. 117 Radial Leaded Conductive Polymer Capacitor Line: ..................................................................................................................... 118 OCR Radial Capacitor Line: ....................................................................................................................................................... 118 OCV Chip Capacitor Line: ......................................................................................................................................................... 118 Lelon Company Revenues: ............................................................................................................................................................. 118 Man Yue.................................................................................................................................................................................................. 119 About This Company: ..................................................................................................................................................................... 119 Revenues: ........................................................................................................................................................................................ 119 ©2012 Paumanok Publications, Inc.
12
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Development of The Conductive Polymer Line: X-CON .............................................................................................................. 119 Polymer Aluminum Capacitor Products at Man Yue: .................................................................................................................... 120 Radial Leaded Conductive Polymer Aluminum X-Con: ............................................................................................................ 120 Vertical Chip Conductive Polymer Aluminum X-Con:.............................................................................................................. 120 Developments in the Conductive Polymer Capacitor Markets Outside of Japan: .......................................................................... 120 Matsuki Polymer Technology Co., Ltd................................................................................................................................................... 121 About This Company And Relationship With Enesol: ................................................................................................................... 121 MPCAP Polymer Aluminum Capacitor: .................................................................................................................................... 121 Murata ..................................................................................................................................................................................................... 122 Company Description: .................................................................................................................................................................... 122 Murata Buys SDK Capacitor .......................................................................................................................................................... 122 Murata Functional Polymer Aluminum Capacitor -Molded Chip ECAS Series ........................................................................ 122 Nichicon .................................................................................................................................................................................................. 123 Nichicon Corporation (RIC: 6996) ..................................................................................................................................................... 123 Company Overview: ....................................................................................................................................................................... 123 Nichicon (Ohno) Corporation (Conductive Polymer Line): ........................................................................................................... 123 Nichicon Chinese Operations For Conductive Polymer Capacitors: .............................................................................................. 123 Quarterly Revenues For NICHICON: 2010-2012; FY 2013 Forecast (Yen in Billions) ............................................................... 124 FY2013 Quarterly Estimates and Outlook For Nichicon ............................................................................................................... 125 Conductive Polymer Capacitor Line At Nichicon: ......................................................................................................................... 125 Vertical Chip Type C Series Capacitors: .................................................................................................................................... 125 Radial Leaded L Series Capacitors: ............................................................................................................................................ 126 FMD Acquisition: ........................................................................................................................................................................... 126 Technology Developments At Nichicon:........................................................................................................................................ 127 Conductive Polymer Aluminum Solid Electrolytic Capacitors .................................................................................................. 127 Nippon Chemi-Con ................................................................................................................................................................................. 128 Nippon Chemi-Con Corporation (RIC:6996) ..................................................................................................................................... 128 Quarterly Revenues For Nippon Chemi-Con: 2008-2012 Actual and FY 2013 Forecasts (Yen in Billions) ................................ 129 FY2013 Quarterly Estimates and Outlook For Nippon Chemi-Con .............................................................................................. 130 Nippon Chemi-Con Conductive Polymer Line: ............................................................................................................................. 130 ©2012 Paumanok Publications, Inc.
13
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
PX Series V-Chip Conductive Polymer Capacitors: .................................................................................................................. 130 PS Series Radial Leaded Conductive Polymer Aluminum Capacitor: ....................................................................................... 130 Developments in Conductive Polymer Line in 2012 ...................................................................................................................... 130 Conductive Polymer Aluminum Capacitor Sales: .......................................................................................................................... 131 Nippon Industries .................................................................................................................................................................................... 131 Company Description: .................................................................................................................................................................... 131 Corporate History: .......................................................................................................................................................................... 131 Aluminum Capacitor Product Line: ................................................................................................................................................ 132 Conductive Polymer Capacitor Line at Nippon Industries ............................................................................................................. 132 The New Hybrid Liquid V-Chip Aluminum Capacitor Line: .................................................................................................... 132 The Horizontal Molded Chip Aluminum Capaictor: .................................................................................................................. 133 Panasonic ................................................................................................................................................................................................ 133 Company Description: .................................................................................................................................................................... 133 Industrial Devices Division: ........................................................................................................................................................... 133 Merger With Sanyo:........................................................................................................................................................................ 133 Panasonic Aluminum Capacitor Plants ........................................................................................................................................... 134 SP-Cap Polymer Aluminum Line: .................................................................................................................................................. 134 Type V-Hybird Conductive Polymer V-Chip Line: ....................................................................................................................... 135 Panasonic-Sanyo Video Components (Capacitors) ........................................................................................................................ 135 Sanyo OS-CON........................................................................................................................................................................... 135 Samwha ................................................................................................................................................................................................... 135 Capacitor Products: ......................................................................................................................................................................... 135 About This Company: ..................................................................................................................................................................... 136 Total Revenues: .............................................................................................................................................................................. 136 Vertical Chip Type Conductive Polymer Aluminum Capacitors: .................................................................................................. 136 Radial Leaded Type Conductive Polymer Aluminum Capacitors:................................................................................................. 136 Molded H Chip Type Conductive Polymer Aluminum Capacitors: ............................................................................................... 136 Samyoung Electronics ............................................................................................................................................................................ 137 About Samyoung Electronics: ........................................................................................................................................................ 137 Revenues: ........................................................................................................................................................................................ 137 ©2012 Paumanok Publications, Inc.
14
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Conductive Polymer Aluminum Capacitors at Samyoung: ............................................................................................................ 138 Surface Mount Type: Conductive Polymer Aluminum Capacitors: ........................................................................................... 138 Radial Leaded: Conductive Polymer Aluminum Capacitors: ..................................................................................................... 138 Sun Electronic ......................................................................................................................................................................................... 138 Company Description: .................................................................................................................................................................... 138 Company History: ........................................................................................................................................................................... 139 EP Capacitor and Hybrid Polymer Electrolyte: .......................................................................................................................... 139 EP Cap-Conductive Polymer Aluminum Product Line (Hybrid Conductive Polymer): ................................................................ 139 HVA Surface Mount Vertical Chip Design: ............................................................................................................................... 139 HEA Radial Leaded Design: ...................................................................................................................................................... 140 Key Developments in Polymer Technology: .................................................................................................................................. 140 Polymer aluminum electrolytic capacitor with industry's first 130°C high-reliability guarantee developed ............................. 140 Industry's first 80V and 100V polymer aluminum electrolytic capacitor developed ................................................................. 140 Teapo (G-Luxon) .................................................................................................................................................................................... 141 About Teapo Electronics Corp........................................................................................................................................................ 141 V-Chip Conductive Polymer Aluminum Electrolytic Capacitors at Teapo: .................................................................................. 141 Radial Leaded Conductive Polymer Aluminum Electrolytic Capacitors at Teapo: ....................................................................... 141 ©2012 Paumanok Publications, Inc.
15
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Polymer Aluminum Capacitors:
World Markets, Technologies & Opportunities: 2012-2017
List of Tables
Figure 1: Global Consumption Value, Volume and Pricing for Polymer Aluminum Capacitors By Type: FY 2012-2013.................... 27 Figure 2: Conductive Polymer Aluminum Capacitor Consumption Value By Configuration: FY 2012 ................................................. 29 Figure 3: Polymer Aluminum Capacitor Consumption Value as A Percentage of The Total Aluminum Electrolytic Capacitor Market:
FY 2012 ............................................................................................................................................................................................ 30 Figure 4: End-Use Markets And Product Applications For Conductive Polymer Aluminum Capacitors: FY 2012 ............................... 33 Figure 5: Conductive Polymer Capacitor Consumption By End-Use Market Segment: FY 2012 .......................................................... 34 Figure 6: Polymer Aluminum Capacitor Consumption Value By Key Country: FY 2012 ...................................................................... 35 Figure 7: Top 19 Producers of Polymer Aluminum Capacitors By Type: FY 2012 ................................................................................ 52 Figure 8: Major & Minor Competitive Positioning in Polymer Aluminum Capacitors by Vendor and Component Configuration
(Molded Chip, Vertical Chip and Radial Leaded): FY 2012 ............................................................................................................ 53 Figure 9: Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Voltage: 2012 ............................... 54 Figure 10: Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Life: 2012 ................................... 55 Figure 11: Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Operating Temperature: 2012 ...................... 56 Figure 12: Conductive Polymer Aluminum Capacitors By Vendor, Type and Maximum Capacitance Value: 2012 ............................. 57 Figure 13: Conductive Polymer Aluminum Capacitors By Vendor, Type and ESR Value: 2012 ........................................................... 58 Figure 14: Recent M&A and JV Activity Impacting Polymer Aluminum Capacitor Markets ................................................................ 60 Figure 15: Polymer Aluminum Capacitor Vendors: FY 2012 Market Shares (All Types and Configurations) ...................................... 62 Figure 16: Solid Polymer Aluminum Molded H-Chip Vendors: FY 2012 Market Shares ...................................................................... 63 Figure 17: Vertical Chip Polymer Aluminum Capacitors: FY 2012 Estimated Market Shares ............................................................... 65 Figure 18: Market Shares in Radial Leaded Polymer Aluminum Capacitors: FY 2012 .......................................................................... 66 Figure 19: Aluminum Electrolytic Capacitors: Cost Of Goods Sold: FY 2012 ....................................................................................... 82 Figure 20: Aluminum Electrolytic Capacitors: Raw Material Costs By Type: FY 2012 ......................................................................... 87 Figure 21: Market Opportunities For Conductive Polymer Capacitors In The Larger Aluminum Electrolytic Capacitor Market: FY
2012................................................................................................................................................................................................... 89 ©2012 Paumanok Publications, Inc.
16
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Figure 22: Target Markets for Molded Polymer Chip Capacitors In Tantalum Chips: FY 2012 ............................................................. 91 Figure 23: Summary of Target Markets for Polymer Aluminum Capacitors: FY 2012-2013 ................................................................. 93 Figure 24: Value, Volume and Pricing Forecasts For Conductive Polymer Aluminum Capacitors: 2012-2017 ..................................... 95 ©2012 Paumanok Publications, Inc.
17
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Scope of Coverage:
This study addresses the global market for conductive polymer aluminum electrolytic capacitors in molded chip, vertical chip and
radial leaded configurations. The components are known for their high capacitance, broad voltage range, and volumetric efficiency,
but what really separates conductive polymer aluminum capacitors from conventional electrolytic designs is their low equivalent
series resistance (ESR). Conductive polymer aluminum capacitors compete against tantalum polymer capacitors and niobium polymer
capacitors in the surface mount configuration. Conductive polymer aluminum capacitors in the vertical chip and radial leaded
configurations only compete against other aluminum capacitors that employ traditional liquid electrolytes and that do not have low
ESR.
Reason For The Report:
Conductive polymer aluminum capacitors have been the focal point of electrochemical capacitor technology for more than ten years.
The application of a conductive polymer in the finished capacitor creates a component with extremely low equivalent series resistance
that is also resistant to catastrophic failure. More importantly, in its molded ship configuration, the solid polymer aluminum capacitor
is a viable alternative to tantalum chip capacitors, which have been plagued with supply chain problems due to the “conflict” nature of
the tantalum ore supply chain. The shortcomings of the solid polymer aluminum capacitor market is that the capacity to produce
solid polymer aluminum capacitors remains limited, and the breadth and depth of the available product portfolio with respect to
capacitance values, voltage ratings and case sizes is limited when compared to that of tantalum capacitors.
Background of The Report:
Historical Development of Polymer Aluminum Capacitors:
Conductive polymer usage in electrolytic capacitors on a mass scale has been well documented and began with its usage in tantalum
capacitors. The tantalum polymer chip capacitor, known as the NEOCapacitor®, was developed by NEC Tantalum Corporation in
1995 (now NEC-Tokin Corporation, which announced in 2012 that it would become part of Kemet Corporation USA) using an anode
dipping method. At the same time, Sanyo Video Components, also a Japan corporation had developed polymer tantalum capacitors
using a different technical approach (a gas infusion process). In fact, in a 1995 interview of IBM Corporation by Paumanok it was
learned that Sanyo was their preferred supplier for decoupling the Pentium Processor and they also noted that Sanyo was instrumental
©2012 Paumanok Publications, Inc.
18
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
in the development of the OS-CON aluminum capacitor, which was based upon a radial leaded aluminum electrolytic capacitor design
that used a complex salt structure known as isoquinolinium to usable voltage, high capacitance design with very low ESR. It was
from these early developments in tantalum ands aluminum that eventually gave rise to the use of conductive polymers as cathode
materials in molded chip, vertical chip and radial leaded aluminum dielectric capacitors.
Sanyo and NEC, for example, were also quick to note the potential to displace the manganese nitrate used for coating tantalum anodes
with conductive polymer. Pyrole was chosen and this polymer was polymerized and pressurized as a “skin” into the nodules that
make up the surface area of a tantalum anode. ESR dropped dramatically by the use of polypyrrole in solid electrolytic chip
capacitors, which proved critical in decoupling high frequency microprocessors in multiple applications that Kemet soon licensed the
NEOCapacitor as the KO Capacitor for distribution in the west, and Kemet began their own study of electro conductive polymers,
especially in polythiophene, a material invented by Bayer Corp’s HC Starck subsidiary. The material, which was sold under the
tradename Baytown, was sold along with other polymer products to Hereuas, which manufactures and markets the material to the
capacitor industry today. Polythiophene materials are consumed in capacitors that require higher operating temperatures to 125
degrees C.
Meanwhile, back in Japan, Matsushita Electric Industrial Circuit Capacitor Division (now Panasonic Electronic Devices) developed
the D Case polymer aluminum molded chip SP-Cap, which offered excellent ESR in a molded chip package with the use of crimped
aluminum anode covered in a skin of organic polypyrrole as the cathode. This cathode skin replaced the traditional aluminum foil
cathode in a package that was similar in size and shape to the best selling tantalum capacitors. Between 1995 and today multiple
vendors have introduced capacitors with conductive polymer as the cathode. The large volumes of consumption are in the molded and
coated tantalum chip capacitors, horizontal molded aluminum chip capacitors, vertical chip aluminum capacitors and radial leaded
aluminum capacitors.
Additional development work is underway for the use of conductive polymers in electric double layer carbon capacitors, and
additional development is underway for the use of polymer cathodes in niobium capacitors as well.
©2012 Paumanok Publications, Inc.
19
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Why Lower The ESR In A Capacitor?
ESR is an industry buzzword- it means equivalent series resistance and the lower the ESR the better. Single digit ESR is the near term
target and ESR ratings less than 1 are envisioned by the customer. By lowering the ESR, the speed by which the capacitor can release
its charge is increased.
The Different Types of Conductive Polymers Employed In Capacitor Cathodes:
There are three conductive polymers currently in use as cathode materials in the capacitor industry. These include polyppyrole,
polythiophene and Polyaniline and multiple derivations thereof. Two additional conductive polymers exist although Paumanok notes
no known usage of these additional conductive polymers outside of the electroluminescent display markets. Polyppyrole is the
polymer that has the largest usage across both tantalum and aluminum capacitor markets and is the most heavily consumed worldwide,
however, polythiophene is becoming a larger part of the growing market, while polyaniline is being used in addition to the other
polymers for unique purposes (as a sealer material in conjunction with polythiophene) that enhance the performance of the finished
anode.
The Difference in Conductive Polymer Performance In The Finished Capacitor:
Paumanok has determined that while each of the conductive polymers have different prices, with polypyrrole being the least expensive
and polyaniline being the most expensive, that there is no difference in performance of any of the polymers. All three offer very
similar ESR performance in the finished capacitor. Capacitor vendors however, have varying ESR ratings that are disproportional to
the limited number of conductive polymers to choose from, which means that other aspects of the production process are key to
lowering the ESR (This is important to understanding the dynamics of the market).
Variations on Construction and Capacitor Configuration:
What is interesting in the industry is that conductive polymer technology is replacing traditional cathodes in three separate product
configurations currently on the market. Therefore we find conductive polymer cathodes in molded chip capacitors (tantalum chip,
aluminum chip and niobium oxide chip- with the primary market overlap between all three products in the D case size (EIA
designated case size). These three dielectrics form the core of growth for the future foundation of the electrolytic chip capacitor for
digital electronics. These three dielectrics are also produced in solid format, which tells the consumer that no liquid is contained in the
capacitor for safety reasons. Also, the solid polymer aluminum capacitor is produced in the V-chip, or vertical format. There is also
the radial leaded aluminum capacitor market which is consuming liquid + conductive polymer, which is also growing because of
©2012 Paumanok Publications, Inc.
20
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
safety concerns surrounding radial leaded capacitors with conventional liquid electrolytes. Radial leaded capacitors with liquid +
polymer electrolytes operate at a higher frequency range when compared to solid polymer capacitors (The focus of this report is on
polymer aluminum capacitors, but it is important for the reader to understand the keen relationship between tantalum capacitors and
aluminum capacitors that contain polymers, not only from a technical perspective but from a perspective of competition between the
two dielectrics as well).
Key End-Use Markets For Conductive Polymer Aluminum Capacitors:
Based upon primary discussions with vendors and a careful analysis of all available literature on the subject, consumption of solid
polymer capacitors differs somewhat from the consumption of the larger electrolytic capacitor markets. The major customers for
conductive polymer aluminum capacitors are primarily in Taiwan and China and are associated with computer motherboard, power
supply and video graphics card production. Other major consumers are in the game console market where conductive polymer
capacitors are consumed in increasingly larger volumes. Another large market is the Japanese digital still camera and digital video
camera markets; as well as for driver information electronics in high-end automobiles. For the vertical chip and the radial leaded parts
we see applications not only in the desktop computer markets, but also for applications in flat panel displays, which is the second
largest market for conductive polymer aluminum capacitors to computers (The reader should also understand that both the computer
market and the flat panel display markets have their production centered in greater China, with a keen focus in Taiwan; and this
explains why there has been such a large increase in production capacity for conductive polymer aluminum capacitors in China in the
past few years).
Competitive Nature of The Industry:
Since the number of available polymers for use in capacitors is limited and the number of vendors selling conductive polymer
capacitorsd is comparably large, plus the fact that among these capacitor manufacturers their respective ESR capabilities vary by so
very much, the logical conclusion is that processing differentiation between vendors is also key. For example, the best ESR will be
found in the capacitor that has the most consistent coverage of the capacitor anode. This has been attempted by a gas diffusion
process and a traditional cathode dipping process. ESR can further be improved by the type of capacitor grade aluminum foil used, as
well as the packaging of the finished capacitor.
©2012 Paumanok Publications, Inc.
21
Polymer Aluminum Capacitors: World Markets, Technologies & Opportunities: 2012-2017
Market Potential and Growth:
The low ESR market continues to be one of the fastest growth portions of the global capacitor industry as design engineers give
increasing importance to ESR in addition to voltage, capacitance, operating temperature and price when buying electrolytic capacitors.
Although price continues to be the most important criteria of negotiation regardless of how fast the capacitor releases its charge. As
for the vendors of conductive polymers selling to capacitor vendors, these plastics producers will continue to grow at a rate in
accordance with the market, and have the entire manganese nitrate market to take over in tantalum, and the entire wet electrolyte
market to take over in aluminum. Also, because of the well documented problems with the supply chain for tantalum, especvially
since US government legislation has determined tantalum to be a “conflict” material, the molded chip polymer aluminum capacitor
has a very real ability to take over an increasingly larger portion of the tantalum capacitor market in the future. This is supported by
the fact that aluminum is in abundant supply and does not have any of the supply chain problems noted in tantalum and its tantalite
precursors.
Conductive Polymer Aluminum (Al203) Capacitors:
Horizontal Molded Chip Polymer Aluminum Capacitors (H-Chip) :
The horizontal aluminum electrolytic capacitor market represents a molded chip technology with aluminum anode that is
designed in terms of capacitance, voltage, ESR and case size to compete against polymer tantalum capacitors. Market growth
has been prohibited due to high pricing (2X that of a V-chip aluminum design) and a limited number of vendors, although in
2012 the market seems poised for additional growth as the tantalum supply chain becomes more precarious. Intended markets
match that of large case size tantalum capacitors and therefore, these devices can be found in computers, automotive
electronics and related markets. This market will experience growth in 2013, continuing through 2017 and beyond.
Almnost all molded chip polymer aluminum capacitors come in the standard D case size chip format (an Electronic Industries
Alliance USA designation) at this time. In the past two years we have noted that Panasonic has also developed a C case size
molded chip, which is a very important development to expand the molded polymer chip aluminum capacitor market. The
reason why the larger case size tantalum chip capacitors are important target markets for molded polymer aluminum chips is
that the larger case size tantalum chips consumed more tantalum raw material (powder and wire) per anode than other case
sizes and are more vurnerable to displacement by alternative technologies as a result. They also have a high price point as a
©2012 Paumanok Publications, Inc.
22