Film Capacitor Market Trends

Growth Drivers

• Surge in Demand for Renewable Energy- Between 2022 and 2027, there is a projected expansion of global renewable capacity totaling almost 2 300 GW, or nearly 74%. Over the past few decades, there has been an exponential increase in the capacity that is being used by renewable energy sources. Global warming and the need to move away from fossil fuels are expected to accelerate the development of new projects in the upcoming years. Networks for renewable energy are constructed up of several parts with mechanical and electrical connections.  They control and alter the resultant energy of electricity. The produced electricity can be fed into a sizable grid that is powered by central producing facilities that are linked to the grid, stored, or consumed immediately. Systems for wind and solar electricity are built on robust AC-DC and DC-AC converters. For AC filtering and voltage stabilization in the DC link circuits, they require dependable film capacitors. As a result, there is an increasing need for film capacitors.
• Rising Adoption of Smartphones- By 2023, there will be almost 5 billion smartphone users globally or more than 84% of the world's population. The production of capacitors for use in smartphone antenna systems frequently employs thin-film technology. With the assistance of this technique, components with precisely controllable performance characteristics can be produced. The total effectiveness of smartphone antenna systems is increased by the use of thin-film capacitors. Therefore, the film capacitor market revenue for film capacitors is rigorously rising.
• Growing Use of Film Capacitors in Protective Devices - Due to its low self-inductance, high peak current, and low ESR—all of which are crucial in a snubber design—film capacitors are used in these circuits. Polypropylene film capacitors are the most commonly employed in this type of circuit. Uses for snubbers include flyback DC-DC converters and other power electronics devices.

Challenges

• More Stringent Adherence to Environmental and Industrial Regulations
• Unable to Suffer Large Current – In most cases the incapacity of film capacitors to tolerate high currents is a drawback. This is a result of the film layer's lower capacity to conduct high currents due to its considerably thinner layer than metal foil. This could be highly seen in the case of metalized film capacitors. Hence, this is estimated to hinder the expansion of the m film capacitor market.
• Surge in Number of Counterfeit Products - Unauthorized copies of original products from Original Component Manufacturers (OCM) that violate a business's intellectual property rights are categorized as counterfeit goods. Despite the low cost of capacitors, there are currently more and more counterfeit goods available. The circuit board of these counterfeit goods is constructed using passive components. These passive parts are offered for sale in bulk. Using discarded electronic waste or scrap metal, some of these counterfeiters’ manufacture capacitors. These capacitors have the wrong capacitance values. As a result, the film capacitor market growth might be impeded over the coming years.