The study focuses on the world's top manufacturers of ceramic capacitors and includes a technology overview, world market overview of the ceramic capacitor industry, market share analysis based upon multiple market segments; and a competitive analysis of the top manufacturers of ceramic capacitors in the world for 2009.


TABLE OF CONTENTS

TECHNOLOGY OVERVIEW 2009
THE TWO TECHNICAL ECONOMIC MAXIMS ASSOCIATED WITH PASSIVE COMPONENTS
Ubiquitous Nature of Passive Components
Relationship Between Capacitance and Available Surface Area 

CERAMIC CAPACITORS (THE INDUSTRY WORKHORSE)
Ceramic Capacitor Types
Multilayered Ceramic Capacitors  
Single Layered Ceramic Capacitors  
Ceramic Capacitor Configurations 
Surface Mount Ceramic Chip Capacitors
Axial and Radial Leaded Ceramic Capacitors 
MLCC Case Sizes 

CERAMIC CAPACITOR METALLIZATION 

Palladium Electrodes 
Nickel Electrodes 
Copper Electrodes
Termination Materials 

CERAMIC DIELECTRIC MATERIALS
CERAMIC CAPACITOR CLASSES 
Class I Ceramics (NPO/COG) 
Developments in COG BME MLCC 
Class II Ceramics (X7R/Z5U/Y5V) 
X7R Capacitors (BX) 
Developments in X7R BME MLCC
The Development of The Popular X5R High Capacitance MLCC 
Z5U (BZ) Capacitors 
Y5V Capacitors
Developments in Y5V BME MLCC
Class III Ceramics

WEIGHTS & MEASURES OF MLCC CASE SIZES
TECHNICAL TRENDS AND DIRECTIONS IN THE GLOBAL CERAMIC CAPACITOR INDUSTRY IN 2009 
Introduction
Miniaturization
Developments in Enhanced MLCC Performance
Integration Trends 
Market Drivers Behind Ceramic Capacitor Innovation
Technology Platforms Supporting Innovation 
An Innovative Slowdown for FY 2010
What The Future Holds for MLCC 2011-2014
A 22 Year Overview of Technology Development
The Multiple Compounding Affect On Demand 
The Industry Demands More From MLCC 
For The Future; More of The Same; But With Some Added Twists

CERAMIC CAPACITORS WORLD MARKET OVERVIEW 2009 
CERAMICS AS A SUB-SET OF THE GLOBAL CAPACITOR INDUSTRY 2009 
Ceramic Capacitors 2008-2009
Market Growth in The Worldwide Ceramic Capacitor Industry 2008-2009 FY Ending March

TOP GLOBAL CERAMIC CAPACITOR MANUFACTURERS CHANGES IN REVENUES 2009 FY
CERAMIC CAPACITORS DEMAND BY TYPE 2009
High Capacitance Ceramic Capacitor Markets 1.0 to 100 Microfarad 2009
Low Capacitance Ceramic Capacitor Markets Picofarad Markets 2009 
Application Specific Ceramic Capacitor Markets 2009
Ceramic Capacitors World Market Value By Type 2009
Ceramic Capacitor Markets By World Region Revenue Comparison By Top Producer and World Region 
Shifts In Estimated Ceramic Capacitor Sales By World Region 2009
Competition In Greater China 2009
Competition In Japan 2009
Competition in Europe 2009
Competition in North And South America 2009 
Other Solid Markets In The World 2009 
Emerging Markets BRIC Opportunities

CERAMIC CAPACITOR MARKET SHARES BY VENDOR
CERAMIC CAPACITORS 2009 SALES AND MARKET SHARES
MARKET SHARES BY CERAMIC CAPACITOR TYPE 2009 
Market Shares In Ceramic Capacitors 2009 Estimates By Type High Cap 1-100 !F; Low Cap- Picofarad MLCC <1 !F; and Value-Added Ceramic Capacitors
Market Shares in High Capacitance MLCC 2009
Manufacturers of High Capacitance MLCC Between 1 and 100 Microfarad 2009 Sales and Market Shares (In Millions of USD) 
Low Capacitance (Picofarad) MLCC Market Shares 2009
Manufacturers of Low Capacitance MLCC (Picofarad Business Segment) 2009 Sales and Market Shares (In Millions of USD) 
Value-Added and Application Specific Ceramic Capacitor Market Shares 2009
Manufacturers of Low Capacitance MLCC (Picofarad Business Segment) 2009 Sales and Market Shares (In Millions of USD) 

CHANGING MARKET SHARES OVER TIME 2007-2008-2009
Ceramic Capacitors Global Market Shares 2007-2008-2009 FY

CERAMIC CAPACITOR VENDORS SALES AND MARKET SHARES FY 2010 FORECAST (A REMARKABLE CHANGE) 
Ceramic Capacitors Market Share Forecasts for FY 2010 (In Millions of USD)

PRODUCTION CAPACITY AND CAPACITY EXPANSION BY VENDOR 2006-2009 
Increases in Ceramic Capacitor Unit Capacity To Produce By Vendor 2006-2009 
Notes on Capacity To Produce In The Ceramic Capacitor Industry 2009

TRENDS IN BME MLCC CAPACITANCE VALUES 1995-1998; 1998-2005; 2006-2009 CY
Competitive Environment In X5R High Capacitance MLCC Markets By Maximum !F 2005 Versus 2009
Changes in Technology By Manufacturer In X5R High Capacitance MLCC Markets By Maximum !F 2005 Versus 2009
Competitive Environment In Y5V High Capacitance MLCC Markets By Maximum !F 2005 Versus 2009
Competitive Environment In Y5V High Capacitance MLCC Markets By Maximum !F 2005 Versus 2009
Competitive Environment In X7R High Capacitance MLCC Markets By Maximum μF 2005 
Competitive Environment In X7R High Capacitance MLCC Markets By Maximum !F 2005 Versus 2009

COMPETITIVE ANALYSIS OF THE WORLD’S TOP CERAMIC CAPACITOR COMPANIES 2009

AVX/KYOCERA CORPORATION (NYSE AVX  RIC 6971) 
AVX Corporation 
KEY DATA
SALES USD (FISCAL YEAR ENDING MARCH 31)
2009 UPDATE
AVX Sales by World Region Update for 2009 
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 Corporation Reports 7.4% Increase in March 2009 Quarter-To-Quarter Sales; Down 26.4% YoY 
AVX Recent Acquisitions
Company Description  
Historical Financial Data 1997-2009
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 
Corporate Description 
Historical Financial Data
I A) Capacitors
I B) Inductors 
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 World Region 2008 and Forecasts for 2009 (In Millions of Euro) 
EPCOS Revenues by End-Use Market Segment 
EPCOS Forecasted Change In Revenues By End-Use Market Segment (Sept 2008 to Sept 2009) In Millions of Euros
EPCOS Manufacturing Facilities & Production By World Region
Headcount adjustments unavoidable 
EPCOS Recent Technology Developments 
Other Acquisitions and Joint Ventures
Outlook

KEMET ELECTRONICS (NYSE KEM)
KEMET ELECTRONICS 2009 UPDATE
March 2009 Quarterly Update
Kemet Reports 10.4% Sequential Increase in June 2009 Capacitor Sales; Down 38.1% on a YoY basis 
Cost of Goods Sold 
Other Information for the Fiscal Year
Estimated Revenue Forecast By Product Group 2009- 2010 
Company Description
Historical Financial Data
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
2009 Update Of Sales By Channel Of Distribution
Kemet Plant Consolidation Plans
Kemet Technology Assessment
Kemet Quarterly Outlook 

MURATA MANUFACTURING COMPANY LIMITED (RIC 6981) 
COMPANY SALES DATA2009 UPDATE (ENTIRE COMPANY)
Murata Capacitor Sales Increase 34% Sequentially In June 2009 Quarter; Down 29.1% YoY
2009 CAPACITOR SALES UPDATE 
FY 2010 Outlook For Capacitors 
Company Description  
Historical Financial Ratios 
Murata Capacitor Revenues 
Murata Strategy Analysis 
Murata Revenues by World Region 
2009 Update Changes By World Region 
Murata Revenues by End-Use Market Segment
Segment Sales Update 2009 
Murata Manufacturing Footprint by Region/Site 
Murata Technology Assessment.
Class II Ceramic Capacitor Developments  
Class I Ceramic Capacitor Developments 
Passive Component Integration  

PANASONIC ELECTRONIC DEVICES (RIC 6752) 
Matsushita Electric Industrial Co., Limited 
Company Description  
Panasonic Revenue Update 2009 
Components and Devices
Panasonic Components and Devices Group Reports 13.9% Growth in September 2009 Quarter; Cites TV and PC Business Growth
Murata Buys Panasonic Electronic Devices' MLCC Unit 
Passive Component and Other Product Lines 
Historical Financial Data 
2009 Earnings Update
Panasonic Passive Component Revenues 
Panasonic Revenues by World Region 
Panasonic Revenues by End-Use Market Segment 
Panasonic Passive Component Production By World Region & Plant Location 
Panasonic Technology Assessment9
Outlook for Fiscal 2010- MLCC Purchased By Murata 

SAMSUNG ELECTRO-MECHANICAL (KSE 009150)
Phone
Home Page 
2009 UPDATE
Samsung 2009 March Quarter
SEMCO Total Revenues 
SEMCO Revenues by MLCC Capacitance Value
Company Description  
Historical Financial Data (Consolidated) 
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)
Taiyo Yuden Co Ltd
2009 UPDATE
Japan Production Ratio Versus Japan Sales Data
Company Description  
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 Corporation Reports 30.5% Sequential Increase in June 2009 Quarter Sales; Down 4.8% YoY
TDK Ceramic Capacitor Sales 2008 to 2009 (34%) 
TDK Electronic Material Group Forecasts 2010-2012 
Streamlining Capacitor Operations In Japan
Company Description 
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
Why It Makes Sense
Where the Synergies are for Both Revenues and Earnings 
What Does this Level Of Consolidation Mean For The Passive Components Industry?  
The Multiple Dielectric Strategy 

VISHAY
VISHAY INTERTECHNOLOGY (NYSEVSH)
2009 UPDATE
Vishay Grows 14.2% in The September 2009 Quarter; Expects 1% to 8.5% Growth In The December Quarter
Vishay Reports 2.4% Sequential Increase in June 2009 Quarterly Revenues; Down 40.6% on a YoY Basis 
Costs of Goods Sold in 2009 
Company Description
Company Description 
Vishay Passive Component Revenues
Vishay Revenues by World Region
Vishay Revenues by End-Use Market Segment
Vishay Production of Passive Components By World Region 

THE VISHAY PORTFOLIO IN CERAMIC CAPACITORS
WALSIN TECHNOLOGY CORPORATION (2492) 
Phone 
Home Page  
2009 UPDATE
Walsin Technology Corporation Reports a 6.13% Increase in July 2009 Sales on a Month-to-Month Basis 
Benefit of Non-Yen Based Manufacturing
Passive Components As a Percentage of Overall Sales In 2009
Company Description  
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 R Output 2008
Walsin Technology Development 
Walsin Capacity Expansion 2008 
Walsin plans new high-capacitance MLCC plant

YAGEO CORPORATION (TW 2327) 
2009 UPDATE
Yageo Reports October 2009 Sales of NT$ 1,860 million; Sales Impacted By China Holiday 
Yageo Monthly Sales Data 2007-2009 (NT$ 100MM) 
Yageo Reports Quarter-To-Quarter June 2009 Increase of 21.4% in Revenues 
Company Description  
Yageo Passive Component Revenues 
Yageo Revenues by World Region 
Yageo Revenues by End-Use Market Segment
Yageo Expansion Strategy Analysis