Capacitors----Passive Components Usher In New Growth Opportunities In The Era Of Electrification.

Benefit from new energy vehicles, photovoltaic, wind power, UPS, industrial motors and other new energy industry's rapid growth, new energy industry-related passive components into the growth and development period, new energy passive components market is expected to grow from $ 7.4 billion in 2021 to $ 11.7 billion in 2027, with a compound annual growth rate of 7.9%.

1.%2 Passive components play an important role in electrification

Electronic components are the main components of electronic circuits and are the most rapidly developing and widely used technological products of the twentieth century. Electronic components are usually divided into two categories: active components and passive components. Active components, also known as active components, mainly characterized by their own consumption of electrical energy, the need for an external power supply in order to work properly, generally used for signal amplification, conversion and so on. Passive components, also known as passive components, the main feature is that they do not need an external power supply to work, generally used for signal transmission.

Active components include integrated circuits, discrete devices and so on. In terms of motorization, active components have the functions of electrical control, amplification of current, etc. Common components such as transistors, MOSFETs, IGBTs, amplifiers, and logic gates.

Passive components include two categories, RCL components and RF components. RCL components include capacitors, inductors and resistors, which are essential basic electronic components for electronic circuits, accounting for about 90% of the total output value of passive components. Among them, capacitors play the role of filtering and decoupling in circuits, inductors are used for current stabilization in circuits, and resistors are widely used current limiting components.

With the global dual-carbon policy force, photovoltaic, wind power, new energy vehicles, railroads, industrial motors, UPS and other new energy areas of electrification changes in depth, the power supply products demand in related industries to bring new growth in the passive components market. In the field of photovoltaic, wind power, the inverter is the core component of the power station, the efficiency and life of the inverter is closely related to the passive components, photovoltaic power converter capacitance, inductance, resistance cost of 4%, 4%, 4%, respectively, wind power converter capacitance, inductance, resistance cost of 6%, 5%, 2%, respectively. In the field of new energy vehicles, electric drive systems and on-board charger OBC requires a large number of passive components to achieve AC/DC conversion, boost, inverter and other power conversion functions, new energy vehicle power converter capacitors, inductors, resistors, respectively, 10% of the cost of 10%, 10%, 2%. In the field of industrial motors, AC/DC and DC/AC converter efficiency is critical, capacitors, inductors, resistors accounted for 9% of the cost, 6%, 8%. New energy electrification changes to the passive components industry to bring new huge market opportunities.

1.2 Capacitors: demand for voltage-resistant components is increasing, film capacitors become the biggest winners

In the field of new energy, film capacitors have the tendency to replace aluminum electrolytic capacitors.

A capacitor is an energy storage element. Capacitor consists of two conductive plates, which are separated by a dielectric insulating material. Capacitor as one of the three passive components, the biggest feature is through the AC, DC resistance, the main function is used to store electrical energy, in the power supply circuit to play the function of voltage reduction, filtering, tuning, bypass and coupling, often used in conjunction with other passive components such as inductors and resistors. Energy storage function is to store electrical energy in the form of electric field, smoothing function makes the voltage change become smooth, coupling function can block DC current only let AC current through, decoupling function can play a role in bypassing the high frequency noise components.

Capacitors are mainly divided into ceramic capacitors, film capacitors, aluminum electrolytic capacitors and tantalum electrolytic capacitors. Capacitors can be categorized according to different parameters such as polarity, dielectric, shape, function, etc. According to polarity, capacitors can be divided into two categories: polar and non-polar capacitors. Polar capacitors have positive and negative leads and must be connected to positive and negative voltages respectively; non-polar capacitors have neither positive nor negative polarity and can be connected in any direction within the circuit. According to the medium can be divided into ceramic capacitors, film capacitors, aluminum electrolytic capacitors, tantalum electrolytic capacitors, and the market share of each type of capacitor in 2019 is 52%, 8%, 33%, and 7%, respectively.

Capacitor application scenarios are abundant, and film capacitors have a tendency to replace aluminum electrolytic capacitors in the new energy industry. Ceramic capacitors have a large capacitance range, wide operating temperature range, small dielectric loss, and obvious miniaturization advantages, especially suitable for consumer electronics, occupying the largest share of the capacitor market. Aluminum electrolytic capacitors have large capacity and low price, and are mainly used in industrial, home appliance and lighting fields. Tantalum electrolytic capacitors have high reliability, low leakage current and low temperature influence, and are mainly used in high-end military fields. Film capacitors performance between ceramic capacitors and electrolytic capacitors, with good frequency characteristics, high voltage, high reliability, especially suitable for new energy vehicles, photovoltaic, wind power, industrial control and other new energy fields. Supercapacitor performance between traditional capacitors and lithium batteries, in the field of new energy applications are promising.

Capacitor development trend presents miniaturization, solidification, ultra-thin, high temperature resistance direction. Downstream electronic products gradually towards miniaturization, prompting the upstream ceramic capacitors towards miniaturization. Working environment temperature is too high or too low, may lead to the traditional liquid aluminum electrolytic capacitor electrolyte boiling or solidification, will affect its performance, solid aluminum electrolytic capacitors have a much higher conductivity than the traditional electrolyte, so that it overcomes the shortcomings of the traditional aluminum electrolytic capacitor temperature and frequency characteristics of the poor, is the direction of the development of the future aluminum electrolytic capacitors. With the improvement of the performance of military electronic equipment, the development trend of tantalum capacitors will develop in the direction of miniaturization, large capacity and high reliability. New energy vehicles, photovoltaic, wind power and other industries have higher and higher performance requirements for film capacitors, which are gradually developing in the direction of ultra-thin and high temperature resistance.