IPO研究｜预计2028年中国MLCC市场规模约691亿元

Company Overview - Chengdu Hongming Electronics Co., Ltd. has received approval for its IPO on the ChiNext board, with Shenwan Hongyuan Securities as the sponsor and Xinyong Zhonghe Accounting Firm as the auditor [3] - The company, established in 1958, focuses on the research, production, and sales of new electronic components, primarily passive components like capacitors and precision components for consumer electronics and automotive applications [3] Industry Insights - Capacitors are categorized based on their dielectric materials, with ceramic capacitors accounting for approximately 50% of the capacitor market due to their small size, wide voltage range, and relatively low cost [3] - Multi-layer ceramic capacitors (MLCC) are the most widely used and fastest-growing chip components globally, with a significant increase in domestic production due to the pandemic, leading to a surge in orders from overseas [4] - The global demand for MLCC is projected to decline slightly in 2023, with an estimated demand of 4.61 trillion units, a year-on-year decrease of 0.3%, and a market size of approximately 97.4 billion yuan, down about 3.4% [4] - Forecasts indicate a recovery in demand for MLCC in 2024, with an expected growth to 4.90 trillion units, a year-on-year increase of 6.3%, and a market size of around 104.2 billion yuan, reflecting a 7.0% growth [5] - By 2028, global MLCC demand is anticipated to reach approximately 5.95 trillion units, with a market size of 140.8 billion yuan, representing compound annual growth rates of 5.2% and 7.6% from 2023 to 2028 [5] - The Chinese MLCC market is expected to maintain steady growth, with demand projected to reach 3.65 trillion units and a market size of about 69.1 billion yuan by 2028, with average growth rates of 5.1% and 7.4% over the next five years [6]