1. Aluminum Electrolytic Capacitor Industry Overview

1. Definition and classification of aluminum electrolytic capacitors

Aluminum electrolytic capacitor is a kind of polar electrolytic capacitor, its anode electrode (+)It is made of aluminum foil with etched surface. The aluminum foil is treated by anode and coated with a thin layer of aluminum oxide insulation layer, which is the dielectric of capacitors. The electrolyte is coated on the outside of the alumina, which is the cathode of the capacitor.(-). There is also a layer of aluminum foil called“cathode aluminum foil”. The cathode aluminum foil will contact the electrolyte and connect to the negative terminal of the capacitor.

Aluminum electrolytic capacitors have the characteristics of large capacity, low price and wide application. They are mainly used in consumer electronic products, communication products, computers and peripheral products, instrumentation, automation control, automobile industry, photoelectric products, high-speed railway and aviation and military equipment.

Aluminum electrolytic capacitors can be divided into liquid aluminum electrolytic capacitors and solid aluminum capacitors according to the type of electrolyte.

Liquid aluminum electrolytic capacitors: aluminum electrolytic capacitors using liquid organic solvents as electrolytes have the advantages of large capacity, high withstand voltage, and long life, but they also have shortcomings such as leakage, low temperature resistance, and high impedance. Liquid aluminum electrolytic capacitors can be divided into low-voltage, medium-voltage and high-voltage types according to the pressure level.

Solid aluminum capacitors: aluminum electrolytic capacitors using solid conductive polymers as electrolytes have the advantages of low impedance, high temperature resistance, and no leakage, but they also have shortcomings such as small capacity, low withstand voltage, and short life. Solid aluminum capacitors can be divided into manganate type and conductive polymer type according to the type of conductive polymer.

2. Panoramic map of aluminum electrolytic capacitor industry chain

The upstream products of the raw materials of aluminum electrolytic capacitors mainly include high-purity aluminum, electrode foil, electrolyte and electrolytic paper, among which, the performance and quality of aluminum electrolytic capacitors are determined by the electrode foil, which accounts for the total production cost of the former.30%-60%. Products are widely used in all kinds of electronic products and related industrial products, including consumer electronics industry, industrial power supply and lighting industry, and the rapid development of new energy and new energy automobile industry in recent years.

The upstream raw material products of aluminum electrolytic capacitors in China and the industrial chain diagram of each downstream application market are as follows:

At present, China's aluminum capacitor upstream.-The concentration of electronic aluminum foil industry is relatively high. The main manufacturers are Xinjiang Zhonghe Co., Ltd. and Guangdong East Sunshine Technology Holding Co., Ltd., which account for the domestic electronic aluminum foil supply.60%Above. In the field of electrode foil, at the same time with corrosion and formation technology and can be large-scale production of high-pressure corrosion foil, into foil enterprises mainly include: Dongyang Guangke, Xinjiang Zhonghe, Nantong Haixing and Huafeng shares, etc., in the domestic initial formation of a monopoly pattern. In terms of electrolytic paper, the only enterprises that can serialize the production of medium and low voltage electrolytic capacitor paper products are Zhejiang Kane Special Materials Co.NKKCompany.

Midstream enterprises mainly include Aihua Group, Jianghai shares, emerald, Fengbin Electronics, East Sunshine Capacitor Co., Ltd. and other enterprises, of which Aihua Group and Jianghai shares for China's aluminum electrolytic capacitor leading enterprises.

Supply and Demand Analysis of 2. Aluminum Electrolytic Capacitor Market

1. Market size: China's aluminum electrolytic capacitor market has continued to grow in recent years.

In 2022, the market size of aluminum electrolytic capacitors in China will reach358.8Billion yuan, year-on-year growth10.3%, mainly due to domestic economic recovery, growth in demand for new energy vehicles and5GStimulation of factors such as communication construction.

In 2023, the market size of China's aluminum electrolytic capacitors is expected to reach396.7Billion yuan, year-on-year growth10.6%It mainly benefits from the steady growth of domestic and foreign market demand, technological breakthroughs of high-end products and the coordinated development of the industrial chain.

2. Market supply: China is the world's largest producer of aluminum electrolytic capacitors

In 2022, China's aluminum electrolytic capacitor production is208.1Billion, year-on-year growth10%。

For the whole year of 2023, China's aluminum electrolytic capacitor production is expected to be228.9Billion, year-on-year growth10%。

3. Market demand: China is the world's largest consumer of aluminum electrolytic capacitors

In 2022, China's demand for aluminum electrolytic capacitors is209.1Billion, year-on-year growth10%。

For the whole year of 2023, the demand for aluminum electrolytic capacitors in China is expected to be230Billion, year-on-year growth10%。

Analysis on Market Segmentation of 3. Aluminum Electrolytic Capacitor

1. Consumer Electronics Industry

The consumer electronics industry is one of the main application areas of aluminum electrolytic capacitors, including mobile phones, tablets, notebooks, desktops, monitors, audio, cameras and other products. The requirements of these products for aluminum electrolytic capacitors are mainly miniaturization, high performance and low cost.

With5GWith the development of communication technology and the popularization of smart phones, the upgrading of consumer electronic products has accelerated, and the demand for aluminum electrolytic capacitors has also increased.

In 2022, China's consumer electronics demand for aluminum electrolytic capacitors is66.1billion, accounting for the proportion of total demand.31.6%。

For the whole of 2023, the demand for aluminum electrolytic capacitors in China's consumer electronics products is expected to be72.7billion, accounting for the proportion of total demand.31.5%。

2. Industrial power and lighting industry

Industrial power supply and lighting industry is one of the important applications of aluminum electrolytic capacitors, including switching power supply, inverter, charger,LEDLighting and other products. The requirements of these products for aluminum electrolytic capacitors are mainly high voltage tolerance, high temperature tolerance and long life.

With the promotion of energy conservation and emission reduction policies at home and abroad and the development of new energy vehicles, the demand for industrial power supply and lighting industry is growing rapidly, and the demand for aluminum electrolytic capacitors is also increasing.

In 2022, the demand for aluminum electrolytic capacitors for industrial power and lighting products in China is62.1billion, accounting for the proportion of total demand.29.7%。

2023年全年，中国工业电源及照明产品对铝电解电容器的需求量预计为68.4billion, accounting for the proportion of total demand.29.7%。

3. 新能源及新能源汽车产业

新能源及新能源汽车产业是铝电解电容器的新兴应用领域之一，主要包括风力发电、太阳能发电、光伏逆变器、混合动力汽车、纯电动汽车等产品。这些产品对铝电解电容器的要求主要是大容量、高可靠性和高效率。

随着国内外新能源产业的快速发展和新能源汽车市场的爆发式增长，对铝电解电容器的需求也呈现出快速增长的趋势。

2022年，中国新能源及新能源汽车产品对铝电解电容器的需求量为41.6billion, accounting for the proportion of total demand.19.9%。

2023年全年，中国新能源及新能源汽车产品对铝电解电容器的需求量预计为45.8billion, accounting for the proportion of total demand.19.9%。

四、铝电解电容器市场发展趋势

1. 高端化：高压、高温、大容量、长寿命等特性成为发展方向

随着下游应用领域的不断拓展和技术要求的不断提高，铝电解电容器的性能和质量也面临着更高的挑战。尤其是在新能源及新能源汽车产业中，铝电解电容器需要具备高压、高温、大容量、长寿命等特性，以满足高效率、高可靠性和低成本的需求。因此，铝电解电容器行业需要加大技术创新和研发投入，提升产品档次和附加值，实现高端化发展。

2. 环保化：节能减排、无污染、可回收等特性成为发展要求

随着国内外环保政策的不断出台和社会责任意识的不断增强，铝电解电容器行业也需要积极响应和配合，实现环保化发展。一方面，铝电解电容器行业需要优化生产工艺和设备，减少能耗和排放，提高资源利用率和回收率；另一方面，铝电解电容器行业需要开发和推广无污染、可回收的产品，如固态铝电容器等，以降低对环境的影响和风险。

3. 多元化：多样化、个性化、定制化等特性成为发展趋势

随着下游应用领域的多样化和用户需求的个性化，铝电解电容器行业也需要适应市场变化和客户需求，实现多元化发展。一方面，铝电解电容器行业需要拓展新的应用领域和市场空间，如医疗设备、航空航天、军事装备等；另一方面，铝电解电容器行业需要提供多种规格和型号的产品，以满足不同客户的不同需求，并提供定制化服务，以增加产品差异化和竞争力。

Conclusion

综上所述，中国铝电解电容器市场规模持续增长，产业链完善且集中度较高，下游应用领域广泛且需求稳定增长。未来，在国内外市场需求稳定增长、高端产品技术突破以及产业链协同发展等因素的支撑下，中国铝电解电容器行业将迎来更大的发展机遇和空间。同时，铝电解电容器行业也需要不断创新和改进，实现高端化、环保化和多元化的发展，以提升产品性能和质量，满足市场和客户的需求，增强行业竞争力和可持续发展能力。

尚普咨询认为，中国铝电解电容器行业是一个具有较高成长性和发展潜力的行业，值得关注和投资。