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%。

For the whole of 2023, the demand for aluminum electrolytic capacitors for industrial power and lighting products in China is expected to be68.4billion, accounting for the proportion of total demand.29.7%。

3. New Energy and New Energy Automobile Industry

The new energy and new energy automobile industry is one of the emerging application fields of aluminum electrolytic capacitors, mainly including wind power generation, solar power generation, photovoltaic inverters, hybrid vehicles, pure electric vehicles and other products. The requirements of these products for aluminum electrolytic capacitors are mainly large capacity, high reliability and high efficiency.

With the rapid development of the new energy industry at home and abroad and the explosive growth of the new energy vehicle market, the demand for aluminum electrolytic capacitors is also showing a rapid growth trend.

In 2022, the demand for aluminum electrolytic capacitors for new energy and new energy vehicle products in China is41.6billion, accounting for the proportion of total demand.19.9%。

For the whole of 2023, the demand for aluminum electrolytic capacitors for new energy and new energy vehicle products in China is expected to be45.8billion, accounting for the proportion of total demand.19.9%。

4. aluminum electrolytic capacitor market development trend

1. High-end: high pressure, high temperature, large capacity, long life and other characteristics become the development direction

With the continuous expansion of downstream applications and the continuous improvement of technical requirements, the performance and quality of aluminum electrolytic capacitors are also facing higher challenges. Especially in the new energy and new energy automobile industry, aluminum electrolytic capacitors need to have high voltage, high temperature, large capacity, long life and other characteristics to meet the needs of high efficiency, high reliability and low cost. Therefore, the aluminum electrolytic capacitor industry needs to increase technological innovation and R & D investment, improve product quality and added value, and achieve high-end development.

2. Environmental protection: energy saving and emission reduction, no pollution, recyclable and other characteristics have become development requirements

With the continuous introduction of environmental protection policies at home and abroad and the continuous enhancement of social responsibility awareness, the aluminum electrolytic capacitor industry also needs to actively respond and cooperate to achieve environmental protection development. On the one hand, the aluminum electrolytic capacitor industry needs to optimize production processes and equipment, reduce energy consumption and emissions, and improve resource utilization and recovery rates; on the other hand, the aluminum electrolytic capacitor industry needs to develop and promote pollution-free, recyclable products, such as solid aluminum Capacitors, etc., to reduce environmental impact and risks.

3. Diversification: Diversification, personalization, customization and other characteristics have become the development trend.

With the diversification of downstream applications and the individualization of user needs, the aluminum electrolytic capacitor industry also needs to adapt to market changes and customer needs to achieve diversified development. On the one hand, the aluminum electrolytic capacitor industry needs to expand new application areas and market space, such as medical equipment, aerospace, military equipment, etc.; on the other hand, the aluminum electrolytic capacitor industry needs to provide a variety of specifications and models of products to meet the different needs of different customers, and provide customized services to increase product differentiation and competitiveness.

Conclusion

In summary, the scale of China's aluminum electrolytic capacitor market continues to grow, the industrial chain is perfect and highly concentrated, the downstream application field is extensive and the demand is growing steadily. In the future, supported by the steady growth of domestic and foreign market demand, technological breakthroughs of high-end products and the coordinated development of the industrial chain, China's aluminum electrolytic capacitor industry will usher in greater development opportunities and space. At the same time, the aluminum electrolytic capacitor industry also needs continuous innovation and improvement to achieve high-end, environmentally friendly and diversified development to improve product performance and quality, meet the needs of the market and customers, and enhance industry competitiveness and sustainable development capabilities.

Shangpu Consulting believes that China's aluminum electrolytic capacitor industry is an industry with high growth and development potential, which is worthy of attention and investment.