This is a global market analysis covering capacitors by dielectric, including ceramic, tantalum, aluminum and plastic type capacitors. The global market is addressed in terms of value, volume, pricing; and demand by end-use market segment; and world region. Forecasts are given for each year in terms of value, volume and pricing to 2015. Market shares for each vendor by dielectric. Quarterly forecasts for FY 2012 by capacitor vendor. Monthly lead time trends by type and sub-type. And Five year outlook by dielectric to 2015.

TABLE OF CONTENTS

1.0 TECHNOLOGY GUIDE:

THE TWO TECHNICAL ECONOMIC MAXIMS ASSOCIATED WITH CAPACITORS:

CERAMIC CAPACITORS
Ceramic Capacitor Types: 9
Ceramic Capacitor Configurations: . 10
Ceramic Capacitor Metallization: . 13
Ceramic Dielectric Materials: . 15
Ceramic Capacitors and Exposure To Rare Earth Elements: FY 2012 21

ALUMINUM CAPACITORS:
Aluminum Capacitor Types: . 22
Aluminum Capacitor Configurations: . 22

TANTALUM CAPACITORS:
Tantalum Capacitor Types: . 27
Tantalum Capacitor Configurations: . 27

PLASTIC CAPACITORS:
DC Film Capacitor Types & Definitions: . 33
AC Film Capacitor Types & Definitions: . 41

2.0 CAPACITORS: WORLD MARKET UPDATE: FY 2011:

Global Market Value, Volume and Average Unit Pricing for Capacitors: 2007-2008-2009-2010 FY Actual and 2011
Forecasts 45
Figure 1.1 - Global Market Value, Volume and Average Unit Pricing for Capacitors: 2007-2008-2009-2010 FY Actual and 2011 Forecasts . 45

VOLUME SHIPMENT UPDATE: FY 2011
Trend In Global Volume Shipments For Capacitors: 2007-2010; 2011 Forecast: . 46
Figure 1.2: Global Consumption Volume For Capacitors: 2007-2010; 2011 Forecasts: . 47
VALUE SHIPMENT UPDATE: FY 2011

Global Consumption Value For Capacitors: 2007-2010; 2011 Forecasts: . 48
Figure 1.4: Global Consumption Value For Capacitors: 2007-2010; 2011 Forecasts . 48

PRICING UPDATE: FY 2011-2012
Average Unit Selling Price For Capacitors: 2007-2010; 2011 Forecasts: 49
Figure 1.5: Average Unit Price For Capacitors 2007-2010; 2011F (In USD): . 50

DEMAND BY DIELECTRIC: 2003-2010; 2011 FORECASTS
Figure and Table 1.6: Changes in Global Value Demand For Capacitors By Dielectric: FY 2010-FY2011 . 51
Ceramic Capacitors: 2003-2010; 2011 Outlook: . 51
Aluminum Electrolytic Capacitors: 2009-2010; FY 2011 Outlook . 52
Tantalum Capacitors: 2009-2010 FY; 2011 FY Outlook . 53
DC Film Capacitors: 2009-2010; FY 2011 Outlook . 54
AC Power Film Capacitors: 2009-2010; FY 2011 . 55
Other Capacitors: 2009-2010- 2011

Figure 1.7: Capacitor Consumption Value Worldwide by Dielectric: FY 2003-2010; 2011 Forecasts . 56
Figure 1.8: Capacitor Consumption Volume Worldwide by Dielectric: FY 2003-2010; 2011 Forecasts . 57
Figure 1.9: Capacitor Pricing Trends By Dielectric FY 2003-2010; 2011 Forecasts . 57

3.0 QUARTERLY CAPACITOR SHIPMENTS: FY 2011 OUTLOOK

Figure 2.0: Quarterly Sales Trends & Forecasts In The Global Market For Capacitors: 2008-2010; FY 2011 Forecast . 60
CHANGES IN QUARTERLY REVENUES FOR THE TOP PRODUCERS OF CAPACITORS: FY 2008-FY 2011b(INCLUDES FORECASTS)
Figure 2.1: Shifts In Quarterly Revenues For The World’s Top Capacitor Manufacturers By Quarter: 2008-2011 FY 61

4.0 COMPONENT LEAD TIME UPDATE: FY 2011

December 2010 Lead Time Update: . 62
Figure 3.1- Lead-Times For CAPACITORS BY DIELECTRIC (CRL): 2010 . 63
December: Capacitor Lead Time Trends By Dielectric: 2010 . 64
Tantalum Capacitors: December Lead Times: 2010
Figure and Table 3.1 (A)- Lead-Times For TANTALUM (Ta205) CAPACITORS BY Case Size (CRL): 2010 (In Weeks} . 64
DC Film Capacitors: December Lead Times: 2010
Figure and Table 3.1 (B)- Lead-Times For DC Film CAPACITORS BY Type: 2010 (In Weeks} . 66
Aluminum Capacitors: December Lead Times: 2010
Figure 3.1 ©- Lead-Times For Aluminum Electrolytic CAPACITORS BY Type, By Month (CRL): 2010 . 67
Ceramic Capacitors: December Lead Times 2010
Figure 3.1 ©- Lead-Times For CERAMIC CAPACITORS BY Case Size and Configuration, By Month: 2010 . 68

5.0 REGIONAL MARKET UPDATE: FY 2011

Regional Consumption Forecasts for Capacitors For The Year Ending March 2011: . 70
South East Asia: FY 2011 Capacitor Consumption Value Forecasts:
Europe: FY 2011 Capacitor Consumption Value Forecasts:
Americas: FY 2011 Capacitor Consumption Value Forecasts:
GLOBAL VALUE OF CAPACITOR CONSUMPTION BY WORLD REGION: FY 2011
Figure 2.1- Capacitor Consumption Value By World Region: 2011 Year Ending March 31 2011 . 71
Changes In Capacitor Consumption By World Region: FY 2007-FY 2010; FY 2011 Forecasts . 71
China and SE Asia: FY 2011:
Japan: FY 2011:
Europe: FY 2011:
Americas: FY 2011:
Figure 2.2 -Capacitor Consumption Value By World Region: 2007-2010; 2011 Forecast 72
Figure 2.3 –Historical Shifts in Capacitor Consumption Value By World Region Over Time: . 73
2015 Forecast Update: Consumption By World Region: . 73
Figure 2.4 -Capacitor Component Consumption Value By World Region: 2015 Forecast 74
Top Capacitor Manufacturers: Updated Revenues by World Region:
Figure 2.5: Manufacturers of Capacitors and Percentage of Revenues by World Region: FY 2010 76
Figure 2.6: Percent Increase In Year-Over-Year Demand By Selected Capacitor Manufacturer 77
MARKET FORECASTS FOR CAPACITORS BY END-USE MARKET SEGMENT: 2011-2015

6.0 END-USE MARKET UPDATE: FY 2011

CAPACITOR CONSUMPTION BY END-USE MARKET SEGMENT: 2011 FY ENDING MARCH FORECAST AND UPDATE
Figure 2.7: Consumption Value For Capacitors BY End Use Market Segment: 2010 and 2011 Forecasts 79
Figure 2.7 (A): Competitive Environment In Capacitors By End Use Market Segment: FY 2011 . 80
Figure 2.7 (B): Forecasted Changes In Demand By End-Use Market Segment: Justifying Growth Forecasts- 2007-2010 & 2011 Forecast. . 80
Figure 2.8: Global Consumption Volume For Major Electronic Subassemblies; and for Passive Electronic Components: 2009-2010; 2011-2015 FY Forecast . 81
Personal Computer Market Segment: FY 2011 Update, and Revised 2015 Forecasts
Revised Global Unit Shipments of Notebook and Netbook Computers to 2015 . 82
Revised Global Unit Shipments of Computer Printers to 2015
Telecommunications Market Segment: FY 2011 Update . 83
Revised Global Unit Shipments of Wireless Handsets and Forecasts to 2015
Revised Global Unit Shipments of Wireless LAN Boxes and Forecasts to 2015
Consumer Audio and Video Imaging Market Segment: FY 2011 Update . 85
Revised Global Unit Shipments of Television Sets and Forecasts to 2015
Revised Global Unit Shipments of DVD Recorders and Forecasts to 2015
Revised Global Unit Shipments of Video Game Consoles and Portable Video Games to 2015
Revised Global Unit Shipments of Portable Audio/MP3 Players Games to 2015
Revised Global Unit Shipments of Digital Cameras to 2015
Automotive Market Segment: FY 2011 Update . 88
Revised Global Unit Shipments of Automobiles to 2015
Power & Industrial Market Segment: FY 2011 Update 89
Revised Global Unit Shipments of Home Appliances to 2015
Revised Global Unit Shipments of Lighting Ballasts to 2015
Specialty Electronics Market Segment: FY 2011 Update: . 90
Medical Sector:
Defense Sector:
Other Fragmented Specialty Markets:
Changes In Established Markets That Will Drive Demand For Capacitors From 2011-2015: . 92
The Proliferation of Touch Screen Interfaces:
Convergence in Handsets: FY 2011-2015
802.11a and MIMO In Wireless LAN Boxes: FY 2010-2015:
Future Trends: Connected TVs, Multi-Standard Media Decoders and The Inductor Market: 2010-2015
Transition To Digital TV Standards in Developing Nations: 2010-2015.
High-Definition TV Set Sales Strongly Relate to DVR Sales.
Most of The World’s Population Still Receive TV over Analog Channels
BRIC Economies Adopting Red-Laser DVDs:
Opportunities in The Emerging Automotive DVD Market Segment
Blue-Ray and Upconverter DVD Trends: 2010-2015:
Video Game Market Outlook: Upgrades and MEMs in 2011-2012
Video Game Companion Electronic Devices: A New Market Opportunity
Next Generation Portable Gaming Trends: 2010-2015
Key Growth Drivers In Portable Audio Players: 2010-2015
Digital Cameras: Technical Trends and Directions: 2010-2015
Coming Changes In Camera Technology: 2010-2015 . 98
The Development of High Definition Hybrid Cameras: 2010-2015: 98
Wi-Fi Enabled Digital Cameras: 2010-2015: . 98
Digital Single-Lens Reflect (DSLR) Technology: . 99
Netbook: Unit Shipments for 2011-2014 . 99
Growing Demand for Hybrid Vehicle Technologies
Hybrid Solution Should Change The Numbers For Passive Content Per Automobile: 100
Power Transmission and Distribution Capacitors For The Smart Grid:
An Important Market Opportunity for Manufacturers of High Voltage Power Components: 101
Lighting Ballasts and LEDs
Six New Consumer Technologies That Will Grow The Capacitor Market From 2011 to 2015: . 102

7.0 CAPACITOR VENDORS: GLOBAL SALES & MARKET SHARES:

Capacitors: Overall Market Share Data: . 103
Figure 2.9: Top 15 Vendors of Capacitors: Change in 2008-2011 FY Revenues . 104
Competitive Environment in Ceramic Capacitors: FY 2011- . 105
Ceramic Capacitor Manufacturers: FY 2011 Sales & Market Shares 105
Figure 3.0: Ceramic Capacitor Manufacturers: Sales and Market Shares: 2007-2010; 2011 FY Forecasts 105
Figure 3.1 (A): Ceramic Capacitors: Global Market Shares: FY 2011 (Based Upon Revenues) . 105
Competitive Environment in Tantalum Capacitors: FY 2011- . 107
Tantalum Capacitor Manufacturers: FY 2011 Sales & Market Shares . 107
Figure 3.2: Tantalum Capacitor Manufacturers: Sales and Market Shares: 2007-2010; 2011 FY Forecasts . 107
Figure 3.2 (A): Tantalum Capacitor Manufacturers: Global Market Shares: FY 2011 (Based Upon Revenues) . 108
Competitive Environment in Aluminum Capacitors: FY 2011- . 109
Aluminum Capacitor Manufacturers: FY 2011 Sales & Market Shares . 109
Figure 3.3: Aluminum Capacitor Manufacturers: Sales and Market Shares: 2007-2010; 2011 FY Forecasts . 109
Figure 3.3 (A): Aluminum Capacitor Manufacturers: Global Market Shares: FY 2011 (Based Upon Revenues) . 110
Competitive Environment in DC Film Capacitors: FY 2011- . 111
DC Plastic Film Capacitor Manufacturers: FY 2011 Sales & Market Shares . 111
Figure 3.4: DC Plastic Film Capacitor Manufacturers: Sales and Market Shares: 2007-2010; 2011 FY Forecasts . 111
Figure 3.4 (A): DC Plastic Film Capacitor Manufacturers: Global Market Shares: FY 2011 (Based Upon Revenues) . 112
Competitive Environment in AC Film Capacitors: FY 2011- . 113
AC Plastic Film Capacitor Manufacturers: FY 2011 Sales & Market Shares . 113
Figure 3.5: AC Plastic Film Capacitor Manufacturers: Sales and Market Shares: 2007-2010; 2011 FY Forecasts . 113
Figure 3.5 (A): AC Plastic Film Capacitor Manufacturers: FY 2011 Global Market Share Estimates . 114
MANUFACTURER’S MARKET INTELLIGENCE UPDATE: FY 2011-2015
Regional Market Intelligence: FY 2011 . 116
AVX:
Kemet:
Murata:
EPCOS:
TOKO:
TDK:
Sumida:
Product Market Intelligence: FY 2011 . 117
AVX:
Vishay:
Yageo:
Kemet:
Murata:
SEMCO:
Taiyo Yuden:
TDK:
Nichicon:
Nippon Chemi-Con:
Walsin:
Yageo:
End-Use Market Segment Intelligence: FY 2011 . 119
Murata:
EPCOS:
Pricing Market Intelligence: FY 2011 . 119
Vishay:
Distribution Channel Data: FY 2011 120
AVX:
Kemet:
Vishay:

8.0 MARKET FORECASTS: FY 2011-2015

CAPACITORS:

Global Capacitor Market Value: 2010 FY Ending March & FY 2011 Forecasts; and Forecasts To 2015

Figure 3.6- Global Capacitor Market Forecasts: 2007-2010, 2011 Forecast -FY Ending March- (In Millions of USD) 122
Figure 3.7: Global Capacitor Market Revenue Forecasts By Dielectric: 2009-2010 FY Ending March . 123
Ceramic Capacitors: 2012-2015 Outlook . 124
Aluminum Electrolytic Capacitors: 2012-2015 Outlook . 124
Tantalum Capacitors: 2009-2010 FY; 2011 FY Outlook 125
DC Film Capacitors: 2009-2010; FY 2011 Outlook . 125
AC Power Film Capacitors: 2009-2010; FY 2011 125
Other Capacitors: 2009-2010- 2011

FIVE YEAR CAPACITOR MARKET FORECASTS: 2010-2015

Global Capacitor Volume Shipments By Dielectric: 2003-2010; 2011-2015F . 127
Figure 8.3: Global Capacitor Unit Shipments By Dielectric: 2003-2010; 2011-2015F . 127
Average Unit Pricing For Capacitors By Dielectric: 2003-2010; 2011-2015F . 128
Figure 8.4: Average Unit Price Erosion For Capacitors By Type: 2003-2010; 2011-2015F . 128

9.0 QUARTERLY REVENUE FORECASTS & ANALYSIS: FY 2012

Revenue Analysis for The Capacitor Operations Of Selected Market Leaders in the Field; with Quarterly Revenue
Forecasts for The 2012 Fiscal Year . 129
AVX

AVX CORPORATION (NYSE: AVX : RIC 6971:):

Quarterly Revenues For AVX Corporation: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions){Cap Operations
Only} . 129
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR AVX

EPCOS AG

Quarterly Revenues For EPCOS: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions){Cap Operations Only} . 131
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR EPCOS AG

KEMET

KEMET ELECTRONICS (NYSE: KEM):

Quarterly Revenues For KEMET: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions){Cap Operations Only} 133
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR KEMET ELECTRONICS

MURATA MANUFACTURING COMPANY LIMITED (RIC: 6981):

Quarterly Revenues For MURATA: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions){Cap Operations Only}

FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR MURATA MANUFACTURING COMPANY

NICHICON

NICHICON CORPORATION (RIC: 6996)

Quarterly Revenues For NICHICON: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions) . 138
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR NICHICON

NIPPON CHEMI-CON CORPORATION (RIC:6996)

Quarterly Revenues For Nippon Chemi-Con: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions) 140
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR NIPPON CHEMI-CON

SAMSUNG ELECTRO-MECHANICAL (KSE: 009150):

Quarterly Revenues For SEMCO LCR GROUP: 2008-2010 Actual and 2011-2012 Forecasts Won in Billions) . 142
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR SEMCO LCR GROUP

TAIYO YUDEN COMPANY LIMITED (RIC: 6976):

Taiyo Yuden Co Ltd

144
Quarterly Revenues For Taiyo Yuden Capacitors Group: 2008-2010 Actual and 2011-2012 Forecasts Yen in Billions) . 144
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR TAIYO YUDEN CAPACITORS

TDK CORPORATION (RIC: 6762):

Quarterly Revenues For TDK Capacitors Group: 2008-2010 Actual and 2011-2012 Forecasts (Yen in Billions) . 146
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR TDK-EP CAPACITORS

WALSIN TECHNOLOGY CORPORATION (2492):

Quarterly Revenues For WALSIN Capacitors Group: 2008-2010 Actual and 2011-2012 Forecasts (Yen in Billions) 148
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR WALSIN CAPACITORS

YAGEO CORPORATION (TW 2327):

Quarterly Revenues For Yageo Corporation: 2008-2010 Actual and 2011-2012 Forecasts (Billions of NT$) . 149
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR YAGEO CORPORATION

VISHAY

VISHAY INTERTECHNOLOGY (NYSE:VSH)

Quarterly Revenues For Vishay Intertechnology: 2008-2010 Actual and 2011-2012 Forecasts (Millions of USD) 150
FY2012 QUARTERLY ESTIMATES AND OUTLOOK FOR VISHAY INTERTECHNOLOGY, INC.