This new market research study offers visibility to a granular level on the supply chain for anode and cathode foils to the aluminum electrolytic capacitor industry. The study shows the value and volume of demand for thin gage foil consumed in the capacitor industry, as well as the value and volume of etched and formed anode and cathode foils consumed in the aluminum electrolytic capacitor industry. The study breaks down the complex merchant and captive markets for capacitor foils and shows which capacitor manufacturers etch and form their own foils; and which third party companies are active in supplying ready to use etched anode and cathode foils to the global capacitor industry. The study shows the historical growth in the market over the past decade and shows trends in pricing for capacitor grade anode and cathode foils. The study shows a detailed break-down of the costs to produce aluminum electrolytic capacitors by type and configuration and illustrates the value of foil consumption in radial leaded, vertical chip, snap mount, screw terminal, solid polymer aluminum chip, motor start and axial leaded aluminum electrolytic capacitors. Global market shares for thin foil suppliers to the capacitor industry are given; as well as market shares for thin foil supply of 99.8% cathode foils and 99.9% anode foils. Forecasts in terms of value, volume and pricing for capacitor foils is given from 2013 to 2018 as well as end-market drivers in consumer audio and video imaging; computer and peripheral; power supplies, renewable energy, automotive, telecom power, and specialty markets are addressed. Forecasts are given for capacitor foil consumption by capacitor configuration to 2018.
TABLE OF CONTENTS
1-9 About the Author - Research Methodology Employed
10 Research Methodology:
10 Government Data Collection and Resources:
10 Secondary Published Sources:
11 Primary Intelligence Gathering:
11 Fixed Capacitors and Their Respective Sub Categories: FY 2013
11 The Capacitor Supply Chain:
12 Mining of Raw Materials:
12 Raw Materials Processing:
12 Component Manufacturing:
13 Component Distribution:
13 End Market Consumption:
13 Recycling of Critical Materials:
14 Technical Economic Maxims Related To Capacitors:
15 The Two Technical Economic Maxims Associated with Capacitors:
15 Ubiqui tous Nature of Capacitors In Electrical and Electronic Circuits:
15 Financial Considerations With Respect To This Report:
16 The Fiscal Year Ending March 31, 2013
16 Currency Translation
16 Volume, Value and Pricing Data:
16 Global Economic Conditions and Outlook To 2018
16 Positive Market Indicators:
17 Negative Market Indicators:
17 TECHNOLOGY OVERVIEW:
18 Introduction:
18 Bauxite and Alumina: Recovery, Crushing, and Grinding
18 Settling
18 Precipitation
19 Calcination
19 Smelting
19 Energy Costs
21 Capacitor Foil Production
21 Anode Foil Purity:
22 Cathode Foil Purity:
22 Foil Etching:
22 Foil Forming:
22 Anode Foils:
22 Cathode Foils:
22 Anode Foil Thickness:
22 Voltage Across Terminals
22 Dielectric Withstanding Voltage:
22 Nominal Forma tion Voltage
22 Rise Time
22 Rise Time Voltage
22 Hydration Process
22 Hydration Resistance Test
22 Rise T ime after Hydration Process
22 Dielectric Withstanding Voltage after Hydration Process
23 Capacitance after Hydration Process
23 Tensile Strength (N/cm):
23 Etched and Formed, Anode Foil, Low Voltage
23 Etched and Formed, Anode Foil, Medium and High Voltage
23 Variations In Foil Capacitance Between 85 and 105 Degrees C
23 Unique Specifications for Photoflash Foils
23 Etched Foil Specifications For Cathode
23 Foil Roll Sizes:
24 Electrolytic Capacitor Development: A Complex Process
24 Best Practices In Cost Savings For Aluminum Electrolytic Capacitors:
25 30 CAPACITOR FOIL M ARKETS: FY 2012 2013:
27 Introduction and Market Overview: FY 2012 and FY 2013
27 Global Market Value & Volume For Etched Capacitor Foils: FY 2012 and FY 2013
27 Captive and Merchant Markets for E tched and Formed Foils: FY 2012 FY 2013
27 Etched and Formed Foil Pricing: FY 2012 and FY 2013
27 Ten Year Market Analysis for Capacitor Foils: FY 2003 to 2013
28 His torical Reference, Global Consumption Value, Volume and Pricing For Capacitor Foil in the Capacitor Industry: 2003 2013
28 Historical Volume Trend In Capacitor Foil Consumption: 10 Year Analysis:
28 Historical Value Trend In Capacitor Foil Consumption: 10 Year Analysis To 2013
29 Historical Pricing Trend For Capacitor Foil: 10 Year Analysis:
30 Correlation Between Foil Consumption and Capa citor Production
31 Capacitor Foil Conversion Into Square Meters: 2013
31 Value, Volume and Pricing for Capacitor Foil: FY 2012 and 2013
31 Capacitor Foil Pricing: FY 2013
32 Historical Aluminum Price Trend:
32 Aluminum Process Materials Pricing: What Impacts Feedstock Pricing
33 Capacitor Foil Mark Ups at Different Stages of Prod uction: FY 2013
34 Competitive Advantages in Foil Anodization
34 Competitive Advantage of In House Etching of Aluminum Foils
35 Price of Thin Foil and How It Is Sold
35 Merchant Market Prices For Anode Foils:
35 Merchant Market Prices For Cathode Foils:
35 Anode and Cathode Foils Price Structure by Voltage Rating
36 Global Consumption For Capacitor Foils By Type (Anode Versus Cathode): FY 2012
36 Anode Foils: Volume, Value and Pricing: FY 2012
36 Cathode Foils: Volume, Value and Pricing: FY 20 12
36 Capacitor Foil Sales By World Region: FY 2012
37 Global Market for Thin Gage Capacitor Foil By Country: FY 2012
37 Global Market For Etched and Formed Capacitor Foil By Country: FY 2012
37 Aluminum Electrolytic Capacitor Factories By Country: FY 2013
38 40 COMPETITIVE ENVI RONMENT & MARKET SHA RES IN CAPACITOR FOI LS:
40 Compe tition In The Supply Chain For Capacitor Foils: 2013
40 Understanding The Capacitor Foil Supply Chain, Yield Ratios and Stockpiling:
40 Dramatic Shift In The Thin Foil Supply To The Capacitor Indu stry in FY 2013
41 Understanding The Players At Each Level of The Supply Chain For Capacitor Foil:
41 Thin Gage Foil For Electrolytic Capacitors: Suppliers by World Region
42 Japan Vendors of Thin Gage Foil For Capacitors
42 European Vendors of Thin Gage Foil For Capacitors
42 American Vendors of Thin Gage Foil For Capacitors
43 G lobal Trends In Thin Gage Capacitor Foil Supply: FY 2013
43 Top Vendors of Thin Gage Foil For Capacitors (Anode & Cathode Combined): FY 2012
44 Top Suppliers of Thin Gage Foil For Capacitor ANODE: FY 2012
44 Top Suppliers of Thin Gage Foil For Capacitor CATHODE: FY 2012
45 Major Vendors Of Thin Gage Capacitor Foil (9999% and 998% Purity Foils)
46 Showa Denko – Rolled Aluminum Products Division (Sakai Plant)
46 Toyo Aluminum KK
46 Mitsubishi Aluminum Company Limited
46 Sumitomo Light Metal Ind Ltd (Sumikei Aluminum Foil Company Limited Operations)
47 Nippon Foil Manufacturing Company Limited
47 Xinjiang Joinworld Co,Ltd,
47 Southwest Aluminum (Group) Co, Ltd
47 Norsk Hydro ASA (VAW)
48 Constellium Singen GmbH
48 UC Rusal (SAYANAL)
48 Merchant Market Suppliers of Etched Capacitor Foils to the Capacitor Industry: FY2013
49 Major Merchant Market Vendors Of Etched Capacitor Foil: FY 2013
49 Japan Capacitor Industrial Company Limited
49 Becromal SpA
50 KDK Corporation
50 SATMA (PPC) {Kendeil}
51 Capxon International Electronic Company Limited
51 Xinjiang Joinworld Co,Ltd,
51 Nanoto ng Southlight Electronic
52 Guangdong Dongyangguang Aluminum (East Sunshine Aluminum)
52 Zhaoqing Huafeng Electronic Aluminum Foil Co,Ltd,
52 Captive Manufacturers of Etched & Formed Capacitor Foils For Internal Consumption:
53 Aluminum Electrolytic Capacitor Manufacturers and Their Captive Foil Capabilities:
53 Nippon Chemi Con (KDK Corporation, Iwate Elect rolytic Industry Corp, and Hidaka Electron Co Ltd)
53 Nichicon Corporation (Ohmachi Factory; Tomita Factory)
54 Rubycon Corporation (Shin EI Capacitor Foil, Inc)
54 Panasonic Industrial Devices Company/Sanyo (Kyoto Japan Foil Plant)
54 SamYoung Electronics (Sangdaewon Foil and Poseung Foil Plants)
54 Man Yue Technology Holdings Limited (Rifeng Qingyuan Elec tronic Co Ltd)
54 Lelon Electronics Corporation (Liton Technology Corp)
55 Aihua Group (Aishi) (Yaan Aihua Electrode Foil and Lifu Electride Foil Plants)
55 Hitachi AIC (Hitachi Chemical Company Foil Operations)
55 TDK EPCOS AG (Becromal SpA)
55 Capxon International Electronic Company LImited (Baotou Foil Plant; Yichang Sanxia Plant and Qinghai Plant)
55 Kaimei Electronic Corporation (Jamicon) { Taiwan Fong Tien Factory}
56 Kemet Electronics Corporation (Former ACOM and CDE Foil Operations)
56 SamWha Electric (JCC JV Chun gbuk Korea Foil Operations)
57 Vishay Intertechnology (BCC Zwolle Foil Operations)
57 Aluminum Capacitor Manufacturers: FY 2012 Sales & Market Shares
57 Competitive E nvironment in Aluminum Electrolytic Capacitors: FY 2012 -
57 Nichicon Corporation (RIC: 6996)
59 Annual Revenues For NICHICON: 2011, 2012, 2013 Forecast
59 Quarterly R evenues For NICHICON: 2010 2012; FY 2013 Forecast (Yen in Billions)
60 FY2013 Quarterly Estimates and Outlook For Nichicon
60 Nippon Chemi Con Corporation (RIC:6996)
61 Quarterly Revenues For Nippon Chemi Con: 2008 2012 Actual and FY 2013 Forecasts (Yen in Billions)
61 FY2013 Quarterly Estimates and Outlook For Nippon Chemi Con
62 50 COSTS TO PRODUCE ALUMINUM ELECTROLYTIC CAPACIT ORS:
63 K EY D EFINITIONS :
63 Total Cost:
63 Fixed Costs:
63 Variable Costs:
63 Aluminu m Capacitors: Worldwide Revenues: FY 2013
63 Aluminum Capacitors: Operating Margin: FY 2012 2013
64 Aluminum Capacitors: Cost of Sales: FY 2012 2013
64 Aluminum Capac itors: Cost of Goods Sold
65 Fixed Costs:
65 Variable Costs:
65 Raw Materials:
65 Variable Overhead:
65 Va riable Labor:
65 Variable “Other” Manufacturing:
65 Raw Materials Cost Breakdown: FY 2012 and 2013
66 Capacitor (Anode and Cathode) Foils:
66 Can and Sleeve:
66 Electrolytes and Associated Chemistry:
66 Rubber End Seals:
67 Separator Paper:
67 Electrode/Tab Materials:
67 Lead Wires:
67 PPS/Foot Tape:
67 Other Costs:
67 Estimated Costs To Produce Aluminum Electrolytic Capacitors By Type: FY 2012
68 Foil Costs In a Radial Leaded 105 Degree C 5x115 mm Aluminum Capacitor:
68 Foil Costs In a Radial Leaded 105 Degree C 125 x 20mm Aluminum Capacitor:
68 Foil Costs In a Ver tical Chip 40x55 mm Aluminum Electrolytic Capacitor:
68 Foil Costs In a Vertical Chip 10x105 mm Aluminum Electrolytic Capacitor:
68 Foil Costs In Snap In 105 Degree C 400 or 450 Vdc Aluminum El ectrolytic Capacitor:
69 Foil Consumption Value, Volume & Pricing By Capacitor Configuration: FY 2012
69 Foil Consumption Value, Volume & Pricing in Radial Aluminum Capacitors: FY 2012
70 Foil Consumption Value, Volume and Pricing in V Chip Aluminum Capacitors: FY 2012
70 Foil Consumption Value, Volume and Pricing In Snap Mount, Screw Terminal and Motor Start Aluminum Electrolytic Capacito rs: FY 2012
70 Foil Consumption Value, Volume and Pricing In H Chip and Axial Leaded Aluminum Electrolytic Capacitors: FY 2012
70 60 ALUMINUM ELECTRO LYTIC CAPACITOR MARK ETS:
71 Capacitor Market By Type/Dielectric: FY 2013
71 Aluminum Electrolytic Capacitors: Historical Growth and FY 2013 Global Outlook:
72 ALUMINUM Capacitor Consumption Value by End Use Marke t Segment: FY 2012
72 Consumption VOLUME For Aluminum Capacitors By End Use Market Segment: FY 2012
73 Aluminum Electrolytic Capacitors: Markets By Component Configuration 2012 2013:
75 Aluminum Electrolytic Capacitors: Demand By Component Configuration 2010
75 Radial Leaded Aluminum Capacitors
75 Vertical Chip Capacitors (V Chip)
76 Snap In/Snap Mount Aluminum Capacitors
76 Computer Grade/Screw Terminal {Large Can}
77 Horizontal Chip Capacitors (H Chip)
77 Motor Start (Large Can)
77 Axial Leaded Aluminum Capacitors
78 Worldwide Consumption of Aluminum Electrolytic Capacitors by Capacitance Value In Microfarads: FY 2012
78 Worldwide Consumption of Alumin um Electrolytic Capacitors by Voltage Rating: 2012
79 Markets for Aluminum Capacitors by Capacitance and Voltage Rating
81 Profit Centers in the Aluminum Electrolytic Capacitor Market Based Upon C apacitance and Voltage Rating
81 OUTLOOK FOR FOIL
82 Aluminum Electrolytic Capacitors: 2013 2017 Outlook
82 End Use Product Markets F or Capacitors: FY 2013 2018 F orecasted Consumption
82 The Black Box Build: FY 2012 2017
83 Projected Production Volume for Key End Products Consuming Capacitors (Top 18 end products): FY 2012 2018:
84 Aluminum Electrolytic Capacitor: Value, Volume and Pricing Forecasts: FY 2013 2018
85 Global Volume of Shipments For Aluminum Electrolytic Capacitors: FY 2013 2018
85 Global Value of Shipmen ts For Aluminum Electrolytic Capacitors: FY 2013 2018
86 Global Average Unit Pricing For Aluminum Electrolytic Capacitors: FY 2013 2018
87 Global Volume of Consumption For Etched and Formed Capaci tor Foil: FY 2013 2018
87 Global Pricing Forecast For Etched Capacitor Foil: FY 2013 2018:
88 Global Value of Consumption Forecast For Etched Capacitor Foil: FY 2013 2018:
89 Global Value of Consumption Forecast For Etched Capacitor Foil By Capacitor Configuration: FY 2013 2018:
89 Foil Consumption Forecasts In Radial Leaded Aluminum Capacitors: FY 2013 2018:
90 Foil Consumption Forecasts In V Chip Aluminum Capacitors: FY 2013 2018:
90 Foil Consumption Forecasts In Snap Mount Aluminum Capacitors: FY 2013 2018:
90 Foil Consumption Forecasts In Screw Ter minal Aluminum C apacitors: FY 2013 2018:
90 Foil Consumption Forecasts In Polymer H Chip Aluminum Capacitors: FY 2013 2018:
90 Foil Consumption Forecasts In Motor Start Aluminum Capacitors: FY 201 3 2018:
90 Foil Consumption Fore casts In Axial Leaded Aluminum Capacitors: FY 2013 2018:
91 80 DIRECTORY OF CAP ACITOR FOIL VENDORS: 2013
92 Aluko Co, Ltd
92 Arora Technologies, Inc
92 Becromal Spa
92 Capxon International Electronic Company Limited
92 Constellium Singen GmbH
93 Guangdong Dongyangguang Aluminum (East Sunshine Aluminum)
93 Japan Capacitor Industrial Company Limited (JCC)
93 KDK Corporation
93 Mitsubishi Aluminum Compa ny Limited
94 Nantong Southlight Electronic Materials Co, Ltd
94 Nippon Foil Manufacturing Company Limited
94 Nippon Light Metal Co Ltd
94 Norsk Hydro ASA (VAW)
94 SATMA (PPC) {Kendeil}
95 Showa Denko KK
95 Showa Denko Sakai Aluminum KK (SSK)
95 Southwest Aluminum (Group) Co, Ltd
95 Sumitomo Light Metal Ind Ltd
96 Sumitomo Light Metal Ind Ltd Sumikei Aluminum Foil Co, Ltd
96 Toyo Aluminium KK
96 UC Rusal (SAYANAL)
96 Xinjiang Joinworld Co, Ltd
97 Zhaoqing Huafeng Electronic Aluminum Foil Co,Ltd
97 Zhejiang Huayi Aluminium Co, Ltd
List of Figures
11 Figure 1: Fixed Capacitor Market Breakdown by Sub Category: FY 2013
11 Figure 2: Materials Required To Produce An Alumin um Electrolytic Capacitor
25 Figure 3: 10 Year Analysis of The Global Capacitor Foil Markets (Volume, Value, Pricing & Correlation With Aluminum Capacitor Markets): 2003 2013
28 Figure 4: Global V olume of Consumption For Etched and Formed Capacitor Foil: FY 2003 to FY 2013 (In Millions of Pounds)
29 Figure 5: Global Value of Consumption For Etched and Formed Capacitor Foil: FY 2003 to FY 2013 (In Millions of USD)
30 Figure 6: Global Average Pricing For Etched and Formed Capacitor Foil: FY 2003 to FY 2013 (In USD Per Pound)
31 Figure 7: Converting Capacitor Foil To Square Feet
31 Fi gure 8: Value, Volume and Pricing For Capacitor Foils (Captive Versus Merchant): FY 2012
32 Figure 9: Variations In Value, Volume and Pricing For Capacitor Foil By Channel: FY 2012
32 Figure 10: P rice Trend for Raw Aluminum: 1999 2013
33 Figure 11: Capacitor Foil Mark Ups At Various Stages of Production: FY 2013
34 Figure 12: Global Consumption Volume for Capacitor Foil By Type (Anode Vers us Cathode): FY 2012
37 Figure 13: Thin Gage Foil Sales To The Captive and Merchant Markets By World Region: FY 2012
37 Figure 14: Actual Consumption of Etched and Formed Foil By Country: FY 2012
38 Figure 15: Aluminum Electrolytic Capacitor Manufacturers: Factories By Country
39 Figure 16: Structure of The Supply Chain for Capacitor Foils: FY 2013
40 Figure 1 7: Affects of Yields and Stockpiling on the Supply Chain for Capacitor Foil: FY 2012
41 Figure 18: Changes in The Supply of Thin Gage Foil in FY 2013
41 Figure 19: The Key Players At Each Level of The Capacitor Foil Supply Chain: FY 2013
42 Figure 20: Top Vendors of Thin Gage Foil For Electrolytic Capacitors (Anode & Cathode Combined) FY 2012
44 Figure 21: Top Suppliers of Thin Gage Foil F or Capacitor ANODE: FY 2012
45 Figure 22: Top Suppliers of Thin Gage Foil For Capacitor CATHODE: FY 2012
45 Figure 23: Merchant Market Suppliers of Etched and Formed Capacitor Foils: FY 2012 Marke t Shares
49 Figure 24: Top 14 Capacitor Manufacturers Who Etch and Form Their Own Foil: 2013
53 Figure 25:Aluminum Capacitor Manufacturers: Sales and Market Shares: 2012 FY (In Millions of USD)
58 Figure 26: Costs To Produce Metrics for Aluminum Electrolytic Capacitors: FY 2012 FY 2013 (Global Industry Estimate In Millions of USD)
64 Figure 27: Cost of Sales For Aluminum Capacitors (Raw Ma terials, Fixed Costs, Variable Overhead, Variable Labor, Other Variable): 2012/2013
66 Figure 28: Raw Material Cost Breakdown for Aluminum Electrolytic Capacitors By Type: 2012/2013
68 Figure 29: Estimated Costs To Produce Aluminum Electrolytic Capacitors By Type: FY 2013
69 Figure 30: Foil Consumption Value and Volume By Component Configuration: FY 2012
69 Figure 31: Global Capacitor Cons umption by Dielectric: FY 2008 2012; 2013 Forecast
71 Figure 32: Global Value of Consumption for Capacitors By Dielectric Type: FY2012
71 Figure 33: Global Consumption VALUE For Aluminum Capacitors By End Use Market Segment: FY 2012
73 Figure 34: Global Consumption VOLUME For Aluminum Capacitors By End Use Market Segment: FY 2012
74 Figure 35: Aluminum Electrolytic Capacitors Demand By Type and Configuration: FY 2012 to FY 2013Global
75 Figure 36: Global Consumption Value for Aluminum Electrolytic Capacitors By Capacitance Range in Microfarads: FY 2012
79 Figure 37: Global Consumpt ion Value for Aluminum Capacitors By Voltage Rating: FY 2012
80 Figure 38: Global Black Box Build Projections: FY 2013 FY 2018
84 Figure 39: Projected Production Volume for Key End Products Consuming Capacitors: FY 2012 2018
85 Figure 40: Aluminum Electrolytic Capacitor: Value, Volume and Pricing Forecasts: FY 2013 2018
85 Figure 41: Global Volume of Shipments for Aluminum Electrolytic Capacitors: FY 2013 2018
86 Figure 42: Global Volume of Shipments for Aluminum Electrolytic Capacitors: FY 2013 2018
86 Figure 43: Global Average Unit Pricing for Aluminum Electrolytic Capacitors: FY 2013 2018
87 Figure 44: Global Volume of Consumption For Etched and Formed Capacitor Foils: FY 2013 2018
88 Figure 45: Global Pricing Forecast For Etched Capacitor Foils: FY 2013 2018
88 Figure 46: Global Pricing Forecast For Etched Capacitor Foils: FY 2013 2018
89 Figure 47: Global Value, Volume and Pricing Forecast for Etched Capacitor Foil By Aluminum Electrolytic Capacitor Configurati on: FY 2013 2018
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