Market Research Future (MRFR) has published on the “Global Plastic Film Capacitors Market”.
The Plastic Film Capacitors market is estimated to register a CAGR of 73.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Plastic Film Capacitors market— Yageo, Maxwell Technologies, Vishay Intertechnology, Murata Manufacturing, NEC Tokin, Nichicon, NIPPON CHEMI-CON, Rubycon, AVX, Panasonic, Samsung Electro-Mechanics, Taiyo Yuden, TDK, Dekiel Ectronics.
The global Plastic Film Capacitors market is accounted to register a CAGR of 5.60% during the forecast period and is estimated to reach USD 3.75 billion by 2032.
Plastic film capacitors offer excellent electrical performance, high capacitance values, and long operational lifespans, making them suitable for modern electronic devices. Additionally, as energy efficiency and miniaturization become increasingly important, plastic film capacitors are chosen for their compact size and ability to handle high temperatures and harsh environments. The growing emphasis on environmentally friendly and sustainable technologies, such as electric vehicles and renewable energy systems, also contributes to the rising demand for plastic film capacitors, which are RoHS-compliant and offer enhanced energy storage solutions.
The global Plastic Film Capacitors market has been segmented based on type and application.
On the basis of type, the market is segmented into Polypropylene, Polyethylene and Others. The polypropylene segment was attributed to holding the largest market share in 2022, due to their superior electrical properties, high insulation resistance, and excellent self-healing characteristics.
Based on application, the global Plastic Film Capacitors market has been segmented into Automotive, Telecommunications, Industrial, Aerospace & Defense, Consumer Electronics, Medical and Other. The consumer electronics segment was expected to hold the largest market share in 2022, due to their widespread use in various electronic devices.
The global Plastic Film Capacitors market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Plastic Film Capacitors market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Plastic Film Capacitors market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Plastic Film Capacitors market comprises of Middle East, Africa, and Latin America.
The largest market share for Plastic Film Capacitors was maintained by the North American regional sector. This increase is attributed to the increasing adoption of renewable energy sources, such as wind and solar power, which require reliable and durable capacitors for energy conversion and storage. Furthermore, the automotive industry's shift toward electric vehicles (EVs) and hybrid vehicles relies on plastic film capacitors for their power electronics and energy management systems, fostering demand in the region. Finally, the rising focus on energy efficiency and the need for capacitors in consumer electronics, industrial automation, and LED lighting applications further contribute to the growth of the plastic film capacitor market.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for Plastic Film Capacitors is driven by the region's strong focus on energy efficiency, renewable energy sources, and automotive electrification. These capacitors are critical components in various applications like wind turbines, electric vehicles, and industrial machinery, where reliability and performance are essential, aligning with Europe's sustainable and eco-friendly initiatives.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's robust electronics manufacturing sector, with countries like China, Japan, and South Korea playing key roles in the production of consumer electronics, automotive components, and industrial equipment. Additionally, the increasing adoption of renewable energy technologies and the expansion of the automotive industry in Asia Pacific create a growing demand for plastic film capacitors in applications like inverters, power electronics, and electric vehicles, as they offer reliability and high performance in these sectors.
Furthermore, the rest of the world's Plastic Film Capacitors market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the increasing adoption of renewable energy systems and the expansion of infrastructure projects, particularly in the renewable energy and power distribution sectors.
Key Findings of the Study