Source: IT Home Author: Xiao Gongzi
According to the latest survey of TrendForce Jibang Consulting, the BB Ratio (Book-to-Bill Ratio; order shipment ratio) of MLCC (multilayer ceramic capacitor) supplier rose slightly to 0.79 in February 2023.
As the consumer electronics, data center, and Netcom 5G infrastructure markets return to the traditional off-season cycle, the demand for orders slows down. On the other hand, vehicle orders have the opportunity to increase due to the price reduction promotion of Tesla, which makes various car manufacturers join the price war to consolidate market share. The order volume of MLCC for vehicles in the first quarter of 2023 is relatively stable. It is expected that MLCC suppliers will actively invest in research and development and expand the production capacity of vehicle products throughout the year.
TrendForce Jibang Consulting said that since the demand for consumer electronic products turned weak in the third quarter of 2022, the demand for vehicle orders has remained stable, and MLCC suppliers began to concentrate resources on the development of vehicle gauge products, and accelerate the pace of process technology improvement and production expansion. IT Home learned that Murata continues to move towards the goal of increasing its annual capacity by 10%. From the second quarter of 2023, it is expected that the monthly capacity of MLCC of the vehicle gauge will reach 25 billion, and it will remain the market leader. TDK also announced in May 2022 that it would expand the vehicle capacity of the existing Beishang Plant in Iwate Prefecture, Japan. It is expected that the production will be officially mass produced in September 2024, and the monthly capacity will increase by 5 to 8 billion. Samsung, Taiji and Guoju all have significant growth in vehicle production capacity in 2023, with an average monthly production capacity of 2 to 3 billion.
Although Huaxinke started late with an average monthly production capacity of 1.5~2 billion cars, it continued to expand its production line through Kaohsiung plant, and this year‘s monthly production capacity has the opportunity to look at 2.5~3 billion cars. It is worth mentioning that Fenghua, Weirong and other companies have also improved their R&D and manufacturing capabilities by recruiting international professional and technical personnel in recent years. Since the second half of 2022, they have successively launched low-capacity vehicle gauge products and increased their production capacity, with an average monthly production capacity of about 3-4 billion.
Car manufacturers cut prices to seize the market, and the low capacity value car specification MLCC is the first to face a price war
Looking ahead to 2023, the global economy is still weak despite the slowdown in inflation in Europe and the United States. Car manufacturers stimulate gas buying by reducing prices, but also let the overall car market enter the price competition cycle, so cost advantage will be the key. The bidding trend will increase the pressure of price reduction at the upstream and downstream of the supply chain, and the high gross profit of the car MLCC for a long time may gradually decline, while the high market share held by the Japanese factory will be divided after other companies join in succession. It is estimated that the proportion of the car MLCC capacity of Murata, TDK and Taiji will decline to 41%, 16% and 13% respectively in 2023.
According to the report, the sales volume of electric vehicles in China has benefited from the increasing policy dividend. Since 2022, car manufacturers such as Xiaomi, Huawei and BYD have successively introduced the MLCC of micro-volume and Fenghua low-volume-value vehicles, and the bidding for orders has begun. Therefore, in 2023, Japanese manufacturers will successively withdraw from the low price competition cycle of low-end vehicle specification products, and in exchange for Chinese and Korean manufacturers competing with each other for orders. In addition, the price war of MLCC vehicle specification products will continue this year under the condition that the subsequent new car manufacturers are considering reducing the cost of the whole vehicle.
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