This study documents worldwide value, volume and pricing information for capacitors by type, including ceramic, aluminum, tantalum and film dielectric capacitors. The study takes a detailed look at the reporting of the major capacitor manufacturers, including Murata, TDK, Kyocera/AVX, Taiyo Yuden, Nichicon, Nippon Chemi-con, Rubycon, NEC-Tokin Samsung, Yageo, Walsin, Vishay, and Kemet and many others and analyzes the changes in the global capacitor markets for FY 2010, with year-by-year forecasts to 2014. A detailed analysis of changes in market shares by FY for 2003-2009 is given for each vendor by dielectric, with some interesting changes for FY 2009. Forecasts are given for demand by end-use market segment, by world region and by distribution channel, with detailed competitive analysis for each manufacturer. An opportunity section is included that summarizes key opportunities in specific regions and market segments for the second half of FY2010, and also addresses specific opportunities as they relate to the American Reinvestment and Recovery act of 2009. Forecasts to 2014.

TABLE OF CONTENTS

1. Capacitors
Global Markets Value and volume of worldwide consumption of capacitors by dielectric and 2009 changes in the market based upon primary data collection from the world’s top capacitor manufacturers.

GLOBAL CAPACITOR MARKET VALUE: 2008-2009 FY ENDING MARCH.
GLOBAL CAPACITOR MARKET VOLUME: 2008-2009
GLOBAL CAPACITOR MARKET REVENUE FORECASTS BY DIELECTRIC: 2008-2009 FY ENDING MARCH.
Ceramic Capacitors: 2008-2009
Aluminum Electrolytic Capacitors: 2008-2009
Tantalum Capacitors: 2008-2009
DC Film Capacitors: 2008-2009
AC Power Film Capacitors: 2008-2009
Other Capacitors: 2008-2009
Market Growth in The Worldwide Capacitor Industry By Dielectric: 2008-2009 FY Ending March
TOP GLOBAL CAPACITOR MANUFACTURERS: CHANGES IN REVENUES: 2009 FY
Top 18 Vendors of Capacitors: Change in 2008FY-2009 FY Revenues
REFERENCES:
REFERENCE 1.1: AVX
AVX: Total Capacitor Sales Estimates 2009 By Dielectric at AVX (Advanced Products Group and Commercial Products Group Combined):
REFERENCE 1.2: EPCOS
EPCOS: Forecasted Changes in Revenues By Division
Expected Changes in EPCOS Revenues YoY Through September 2009 Forecast By Division:
REFERENCE 1.3: KEMET
Kemet Passive Component Revenues By Product Line:
REFERENCE 1.4: MURATA Murata 2009 Capacitor Sales Update:
REFERENCE 1.5: NEC-TOKIN.
NEC-Tokin Passive Component Revenue Update: 2009
REFERENCE 1.6: NICHICON.
Nichicon Revenue Growth By Capacitor Type (Al203, Ta205, Film, EDLC)
REFERENCE 1.7: NIPPON CHEMI-CON
Nippon Chemi-Con: Capacitor Group Estimates: 2009
REFERENCE 1.8: PANASONIC
Panasonic: Components and Devices Division Down 21%
REFERENCE 1.9: SAMSUNG
Samsung: MLCC A Bright Spot Amidst Troubled Rivals
REFERENCE 1.10: TAIYO YUDEN.
REFERENCE 1.10: TDK
TDK Corporation: MLCC Sales Down 34%
REFERENCE 1.11: VISHAY
Vishay Passive Components Group Sales Decline of 27.5%
REFERENCE 1.12: WALSIN
Walsin: Passive Components As a Percentage of Overall Sales In 2009:
REFERENCE 1.13: YAGEO
Yageo Monthly Revenues: 2008-2009
Yageo Monthly Sales Data: 2007-2009 (NT$: 100MM)

2. Markets by World Region
The second chapter of the study addresses shifts in the market for capacitors by world region with forecasts for FY 2010 ending March.

REGIONAL SALES TRENDS IN CAPACITORS: 2009
Changes in Passive Component Demand By World Region: 2009 – 2010 Forecasts
PRIMARY REFERENCE: TOP 18 PASSIVE COMPONENT MANUFACTURERS: REVENUES BY WORLD REGION: 2008
Primary Methodology For Determining Capacitor Consumption by World Region
International Trade of Capacitors
Every Country Needs Them
The Massive International Trade In Capacitors
Exposure Levels To World Regions Manufacturers of Passive Components and Percentage of Revenues by World Region: FY
2008
Notes on Consumption In Japan: 2009
REGIONAL DEMAND: CHANGES ON THE MARKET IN 2009/2010.
Note on June 2009 Factory Orders
REFERENCE 2.1: AVX
AVX Sales by World Region-Update for 2009
AVX Revenues By World Region
2009 Year End-Estimates
REFERENCE 2.2: EPCOS
EPCOS: European Sales Fall 40% On Weak Auto and Industrial Markets
REFERENCE 2.3: KEMET
Kemet Revenues by World Region: Shift in Sales
European Sales Update: 2009
Asia Sales Update: 2009
Americas Update: 2009
Kemet Corporation: Change in Revenues by World Region: 2006-2009
REFERENCE 2.4: MURATA.

3. Demand by End-Use Market Segment
This chapter of the study addresses worldwide shifts in consumption of capacitors by end-use market segment with forecasts for FY 2010.

PASSIVE COMPONENT CONSUMPTION BY END-USE MARKET SEGMENT: 2009 FY ENDING MARCH
Consumption Value For Capacitors BY End Use Market Segment: 2008 FY (In Millions of USD)
Global Consumption Value for Capacitors By End-Use Market Segment: 2007-2010F
Consumer AV Markets: 2010 FY Capacitor Consumption Forecast
Telecom Handset Business Markets: 2010 FY Capacitor Consumption Forecast:
Computer and Business Machine Segment: 2010 FY Capacitor Consumption Forecast:
Automotive Electronics Segment: 2010 FY Capacitor Consumption Forecast:
Power and Industrial Segment: 2010 FY Capacitor Consumption Forecast:
Defense, Medical, Oilwell and Mining Electronics Segments: 2010 FY Capacitor Consumption Forecast:
Changes in Capacitor Demand By End-Use Market Segment: 2009 FY 1H
Individual Areas of Positive Business Activity: 1H 2009 as Noted By The Vendors
REFERENCE 3.1: AVX
AVX: Medical and Defense Markets Remain Strong: Sales By End Use Market Segment (Quarter to Quarter) Update: 2009
REFERENCE 3.2: EPCOS
EPCOS Changes In Revenues by End-Use Market Segment: 2009
REFERENCE 3.3: KEMET
Kemet: 2009 Changes in Demand By Market Segment:
REFERENCE 3.4: MURATA.
Murata: 2009 Update-Changes in Demand By Market Segment:
REFERENCE 3.5: NICHICON
Nichicon: 2009 Changes in Demand By Market Segment:
REFERENCE 3.6: NIPPON CHEMI-CON
Nippon Chemi-Con: Changes in demand By End-Use Market Segment: 2009
REFERENCE 3.7: SAMSUNG.
SEMCO: Changes in Demand By End-Use Market Segment: 2009
REFERENCE 3.8: TAIYO YUDEN
Taiyo Yuden Revenues by End-Use Market Segment:
CHANNELS OF DISTRIBUTION: 2009
SHIFT IN DEMAND FROM DISTRIBUTORS IN THE AMERICAS:
AVX Change In Revenues By Distribution Channel: 2009
Kemet 2009 Update Of Sales By Channel Of Distribution:
INTERNATIONAL DISTRIBUTION

4. Market Share Data
This section of the study estimates worldwide market share information for capacitors by dielectric for each year from 2003 through FY 2009.

CAPACITORS
Capacitor Vendors: Global Sales & Market Shares:
Capacitors: Overall Market Share Data:
2009 FY Top Global Capacitor Suppliers (All Products)
CERAMICS (MLCC):
Ceramic Capacitor Market Shares: FY 2009
Ceramic Capacitors: Change In Global Market Shares: 2003-2009 FY
TANTALUM:
Tantalum Capacitor Market Shares: FY 2009
Global Market Shares in Tantalum Capac itors: FY 2008-FY 2009 Ending March Change in Market Shares
ALUMINUM:
Aluminum Electrolytic Capacitor Market Shares:
Aluminum Electrolytic Capacitors: Global Market Shares: 2008-2009 FY Ending March
PAPER & PLASTIC
DC Film Capacitor Market Shares
DC Film Capacitors: Global Market Shares: 2008-2009 FY Ending March
AC Film Capacitor Market Shares:
AC Film Capacitors: Global Market Shares: FY 2008-2009 Estimates
EMERGING CAPACITOR MARKET SHARES:
EDLC Capacitor Suppliers And Shares:
Niobium Capacitor Suppliers and Shares:
Leaders In Capacitor Integration and Modularization

5. Forecasts to 2014
This chapter of the study forecasts capacitor consumption value and volume by dielectric for each year from 2010 to 2014.

• Murata
• Kyocera/AVX
• Nippon Chemi-Con
• TDK
• Nichicon
• Kemet
• Panasonic ED
• SEMCO
• Taiyo Yuden
• Vishay
• Rubycon
• EPCOS
• Yageo
• Walsin
• NEC-Tokin
• Sanyo Components

Five Year Capacitor Market Forecasts: 2009-2014!
GLOBAL CAPACITOR VOLUME SHIPMENTS BY DIELECTRIC: 2003-2008; 2009-2014F
Global Capacitor Unit Shipments By Dielectric: 2003-2008; 2009-2014F
CAPACITY UTILIZATION RATES IN THE WORLDWIDE CAPACITOR INDUSTRY: 2003-2009; 2010 TO 2014 FY FORECASTS
Capacity Utilization Rates in The World Wide Capacitor Industry: 2009-2014 Outlook.
GLOBAL CAPACITOR VALUE SHIPMENTS BY DIELECTRIC: 2003-2008; 2009-2014F

6. Technology Review
This chapter summarizes the technology for each capacitor dielectric and looks at changes in the market as it relates to form factor, performance and integration.

Introduction & Scope of Coverage
CERAMIC CAPACITORS (THE INDUSTRY WORKHORSE)
Ceramic Capacitor Types
Ceramic Capacitor Configurations
ALUMINUM CAPACITORS
Aluminum Capacitor Types
Aluminum Capacitor Configurations
TANTALUM CAPACITORS
Tantalum Capacitor Types
Tantalum Capacitor Configurations
FILM CAPACITORS
DC Film Capacitor Types
DC Film Capacitor Configurations
AC FILM CAPACITORS
AC Film Capacitor Types
AC Film Capacitor Configurations
Importance Of The Physical Size of the Finished Passive Component
Passive Components In A Circuit:
TECHNICAL TRENDS IN THE GLOBAL CAPACITOR INDUSTRY IN 2009
MINIATURIZATION

7. Competitive Analysis
This chapter offers in-depth, detailed analysis of the world’s top capacitor manufacturers, including financial data, sales by end-use market, sales by world region, sales by product type, acquisitions, plant closings, plant.

COMPETITIVE FINANCIAL DATA: 2009FY ESTIMATES
AVX/KYOCERA CORPORATION (NYSE: AVX : RIC 6971:):
KEY DATA:
SALES: USD (FISCAL YEAR ENDING MARCH 31)
2009 UPDATE:
AVX Sales by World Region Update for 2009:
AVX: Average Selling Price Update: 2009
AVX: June 2009 Forecast
Sales By End Use Market Segment (Quarter to Quarter) Update: 2009
AVX Change In Revenues By Product Line: 2009
AVX: Total Capacitor Sales Estimates 2009 By Dielectric at AVX (Advanced Products Group and Commercial Products Group
Combined
AVX Change In Revenues By Distribution Channel: 2009
Kyocera (AVX) Corporation Reports in 2009
December Quarterly Revenues
AVX: Recent Acquisitions
AVX Passive Component Revenues
Business Analysis
AVX Revenues by World Region

EPCOS AG
2009 UPDATE:
Year Over Year Sales Estimates For 2009:
Changes By Operating Unit 1H 2009: Focus on Ceramics
EPCOS: Change In Sales By End-Use Market Segment:
Changes in Sales By World Region:
Division II: Ceramic Components
Division III: SAW Components
How Revenues are Distributed By Division at EPCOS AG: 2008
Expected Changes in EPCOS Revenues YoY Through September 2009 Forecast By Division
EPCOS Passive Component Revenues
EPCOS Strategy Analysis
EPCOS Revenues by World Region
EPCOS Revenues by End-Use Market Segment
EPCOS Manufacturing Facilities & Production By World Region
EPCOS Recent Technology Developments
Other Acquisitions and Joint Ventures
EPCOS and Becromal
EPCOS Outlook

KEMET ELECTRONICS (OTC: KEME):
KEMET ELECTRONICS: 2009 UPDATE
Kemet: March 2009 Quarterly Update
Kemet: Cost of Goods Sold
Kemet: Other Information for the Fiscal Year
Kemet: Estimated Revenue Forecast By Product Group: 2009-2010
Kemet Passive Component Revenues By Product Line
Kemet: Expansion Strategy
Analysis
2009-2010 Expansion Plans in The United States
Kemet: Revenues by World Region: Shift in Sales
European Sales Update: 2009
Asia Sales Update: 2009
Americas Update: 2009
Kemet Corporation: Change in Revenues by World Region: 2006-2009
Kemet Revenues by End-Use Market Segment
Kemet 2009 Update Of Sales By Channel Of Distribution
Kemet Plant Consolidation Plans
Kemet Technology Assessment
Kemet June Quarterly Outlook: 2009

MURATA MANUFACTURING COMPANY LIMITED (RIC: 6981)
COMPANY SALES DATA:2009 UPDATE (ENTIRE COMPANY)
MURATA 2009 CAPACITOR SALES UPDATE
Murata: FY 2010 Outlook For Capacitors
Murata Revenues by End-Use Market Segment
Murata Capacitor Revenues
Murata Strategy Analysis
Murata Revenues by World Region
Murata Manufacturing Footprint by Region/Site
Murata Technology Assessment

NEC-TOKIN CORPORATION (RIC: 6759)
2009 UPDATE
Change In Ownership
Plant Closings and Consolidation
NEC-Tokin Passive Component Revenues
NEC-Tokin Revenues by World Region
NEC-Tokin Revenues by End-Use Market Segment
NEC-Tokin Production Output By World Region
NEC-Tokin Product Development
NEC-Tokin Capacitor Discontinuation

NICHICON CORPORATION (RIC:6996)
2009 UPDATE (4TH QUARTER SALES)
2009 Update: Plant Consolidation
2009 Update: Workforce Reduction
2009 Update: Capacitor Foil Pricing: FY 2010
2009 Update: Capex Spending for 2010
2009 Update: FMD Acquisition
2009 Update: Conductive Polymer Aluminum Capacity
Nichicon Company Description
Nichicon Revenues 1999-2009
Nichicon Passive Component Revenues
Nichicon Product Lines In Passive Components
Nichicon Revenue Growth By Capacitor Type (Al203, Ta205, Film, EDLC)
Company Revenue Forecasts For Specific Product Lines: 2010F
Nichicon Revenues by World Region
Nichicon Revenues by End-Use Market Segment
Nichicon Technology Assessment
Nichicon Strategy in Capacitors
Nichicon 2010: Outlook

NIPPON CHEMI-CON CORPORATION (RIC: 6996)
2009 UPDATE (REVISION)
Nippon Chemi-Con: Capacitor Group Estimates: 2009
Inventory Backlog Estimates
Conductive Polymer Capacitor Inventories
Mitigation of Price Threat in Conductive Polymer Aluminum Capacitors
NCC description
NCC Revenues: Historical & 2009 Forecast
NCC Revenues by World Region
NCC Revenues by End-Use Market Segment
NCC Manufacturing Facilities
Nippon Chemi-Con Technology Assessment

PANASONIC ELECTRONIC DEVICES (RIC: 6752)
Panasonic Revenue Update 2009:
Components and Devices
Passive Component and Other Product Lines
2009 Earnings Update
Panasonic Passive Component Revenues
Panasonic Revenues by World Region
Panasonic Revenues by End-Use Market Segmen

RUBYCON CORPORATION (PRIVATE)
Company Description
Rubycon Product Lines
Rubycon Revenue Estimates For Passive Components
Rubycon Revenues By Product Line and Type
Rubycon Estimated Operating Profit
Rubycon Revenues By End-Use Market Segment
Rubycon Manufacturing Footprint in Asia
Rubycon Passive Component Technology Assessment

SAMSUNG ELECTROMECHANICAL (KSE: 009150)
2009 UPDATE
SEMCO Total Revenues
SEMCO Passive Component Revenues
SEMCO Revenues by World Region
SEMCO Revenues by End-Use Market Segment
SEMCO Expansion Strategy
SEMCO Technology Assessment

TAIYO YUDEN COMPANY LIMITED (RIC: 6976)
2009 UPDATE
Japan Production Ratio Versus Japan Sales Data
Taiyo Yuden Passive Component Revenues
Taiyo Yuden Revenues by World Region
Taiyo Yuden Revenues by End-Use Market Segment
Capacity Expansion Since 1999
Reasons For 2006-2007 Expansion
Regional Expansion Analysis (Japan, China, Malaysia, Korea,
Philippines)

TDK CORPORATION (RIC: 6762)
2009 UPDATE
TDK Ceramic Capacitor Sales: 2008 to 2009 (34%)
TDK Electronic Material Group Forecasts: 2010-2012
Streamlining Capacitor Operations In Japan
TDK Passive Component Revenues
TDK Revenues by World Region
TDK Revenues by End-Use Market Segment
TDK Expansion Strategy Analysis
TDK Operational Structure For The Capacitor Group (Termination)
New Profit Pillars At TDK (MLCC, Inductor and HDD)
TDK Manufacturing Footprint by Region/Site
TDK MERGER WITH EPCOS AG TO FORM TDK EP
VISHAY INTERTECHNOLOGY (NYSE:VSH)
2009 UPDATE
Costs of Goods Sold in 2009
Vishay Passive Component Revenues
Vishay Revenues by World Region
Vishay Revenues by End-Use Market Segment
Vishay Production of Passive Components By World Region

WALSIN TECHNOLOGY CORPORATION (2492)
2009 UPDATE
Benefit of Non-Yen Based Manufacturing
Passive Components As a Percentage of Overall Sales In
2009
Walsin Passive Component Revenues
Walsin Revenues by World Region
Walsin Revenues by End-Use Market Segment
Walsin Expansion Strategy Analysis
Walsin Monthly MLCC and Chip ROutput 2008
Walsin Technology Development
Walsin Capacity Expansion 2008

YAGEO CORPORATION (TW 2327)
2009 UPDATE
Yageo Monthly Sales Data:
2007-2009 (NT$: 100MM)
Yageo Passive Component Revenues
Yageo Revenues by World Region
Yageo Revenues by End-Use Market Segment
Yageo Expansion Strategy Analysis