The rise of aluminum electrolytic capacitor price

According to the new information report, according to media reports, after the domestic aluminum electrolytic capacitor leading enterprise Ai Hua in the end of April announced the price rises, the Japanese big factory Rubycon, platform manufacturer Feng Bin electronic also released the price information. Rubycon said that the price of aluminum electrolytic capacitors will rise and the capacitor prices will be raised in June 1, 2018. Aluminum electrolytic capacitors occupy 30% of the market share of capacitors, widely used in consumer electronics, industry, communications and other fields. The industry is expected that, with the continuous development of downstream industries, the aluminum electrolytic capacitor industry is growing simultaneously, and the performance of related companies will steadily increase.


Domestic and foreign aluminum electrolytic capacitor industry chain prices rising 2018-01-11 08:32 source: GF Securities -1+10 SMM

Net news: since November, the stock price of Taiwan aluminum electrolytic capacitor rose significantly, including 25.96% of the leader, the other manufacturers, Yubang, Zhi Bao, Jinshan, and Kay, respectively, 34.42%, 85.57%, 25.88%, 127.06%; the upstream electrode foil manufacturer was 70.74%. Nippon Chemi-con, a global maker of aluminum electrolytic capacitors, rose by 80% to up to 40% in the past year, and Nichicon, the second largest aluminum electrolytic capacitor maker, has risen by 48% in the last year, up by 35%. Aluminum electrolytic capacitors are widely used in the field. According to the difference of dielectric, the daily suppliers occupy the four main categories: aluminum electrolytic capacitor, tantalum electrolytic capacitor, ceramic capacitor and film capacitor, among which aluminum electrolytic capacitors have high CV value and high performance price ratio, occupying 30%. Market share of capacitor. The aluminum electrolytic capacitor is a capacitor made of an anode foil, a cathode foil, and an electrolytic paper, which is then impregnated with a working electrolyte, and then sealed in an aluminum shell. The main function of the aluminum electrolytic capacitor is to communicate, stop the DC, and have the function of filtering, vibration elimination, resonance, bypass, coupling and fast charging and discharging. Compared with other capacitors, it has the characteristics of small volume, large storage capacity and low cost. According to the statistics of Taiwan Industrial Research Institute, the application of aluminum electrolytic capacitors in the world is 45% of consumer electronics, 23% in industry, 13% for information, 7% for communication, 5% for automobile and 7% in other. Consumption type aluminum electrolytic capacitors are mainly used in energy saving lighting, television, display, computer and air conditioning, etc. the industrial aluminum electrolytic capacitors are mainly used in industrial and communication power supply, professional frequency converter, CNC and servo system, wind power generation and automobile industry areas. According to the statistics of the electronic components industry association, the market of the global aluminum electrolytic capacitor market in 2017 is expected to be 8 billion 200 million US dollars, with a natural growth rate of 3-5%. At present, according to Paumanok Publications Inc statistics, Japan, Taiwan region, South Korea and China are the main production countries and regions of the global aluminum electrolytic capacitors. The top five manufacturers of aluminum electrolytic capacitors in the world are four Japanese enterprises, which are Nippon Chemi-con, Nichicon, Rubycon Panasonic, and the daily plant Business accounted for more than 60% of the global aluminum electrolytic capacitor market. Demand side: Japanese manufacturers withdraw from the middle and low end market, and demand transfers to mainland China and Taiwan. In recent years, Japanese enterprises have a high production cost and low profit rate of products (such as the net profit rate of Nippon Chemi-con 2016H1 of the global aluminum electrolytic capacitor faucet, 0.8%). In demand, Japanese companies focus on higher value-added automotive and industrial fields, and release consumer electronic capacitors and materials market to non - Japanese manufacturers, and need to transfer to the mainland and Taiwan.  Supply side: upstream electronic aluminum foil is out of stock and prices are rising. The main raw materials of aluminum electrolytic capacitor include electrode foil, aluminum shell, drawing line, electrolytic paper and rubber plug. The electrode foil is the key material for the production of aluminum electrolytic capacitor, which is used for carrying charge and accounting for the production cost of aluminum electrolytic capacitor (30%-60%). Electrode foil is processed by a series of processes such as rolling, corrosion and forming of high purity aluminum, and its production requirements are high. The performance of electrode foil determines many key technical indexes, such as capacity, leakage current, loss, life, reliability and volume of aluminum electrolytic capacitor. It is also one of the most valuable and technical parts in the aluminum electrolytic capacitor industry chain. Electrode foil purchase to the mainland: according to Chi Yan consulting statistics, electrode foil suppliers are mainly from Japan and Mainland China. China is an important producing area of aluminum foil, occupying about 70 to 80% of the production. Due to the structure adjustment of the Japanese electrode foil manufacturer, the aluminum foil material for the electrical appliances, such as air conditioning, household appliances, washing machine and so on, is required. A large number of manufacturers have bought aluminum foil products for Chinese aluminum foil manufacturers, which has also resulted in insufficient supply of aluminum foil in mainland China. EIA strictly limits the production of electrode foil: according to Hua Feng shares, electricity accounts for more than 20% of the cost of electrode foil materials. Due to the high energy consumption of electrode foil, the government will strictly control the amount of wastewater treatment this year because of the discharge of acid wastewater and irritating gas from the electrode foil production. The environmental pressure has increased the production capacity and the small aluminum foil plant is eliminated. The rising price of aluminum prices in the upper reaches increases the price of aluminum foil. According to the news of the Taiwan medium time electronic newspaper, the industry said that aluminum material accounted for about 50% of the overall cost of aluminum foil. The price of aluminum material was 1800 dollars per metric ton in early 2017, to 2200 US dollars by December 2017, and the aluminum foil material rose by 8% to 10% from October 2017 to November.

According to the news of Taiwan electronic newspaper, at present, the aluminum electrolytic capacitor factory of the Taiwan Department holds that the high voltage aluminum foil in high school may be short in 2018, and the supply of aluminum foil is in short supply at present. It is estimated that the impact of aluminum foil shortage in November and December of mainland China is 15%-25%. The shortage of aluminum foil leads to the rise of passive components such as downstream aluminum capacitors. From the time of pulling up the goods, the delivery time of the solar capacitor manufacturers has been lengthened from the original 6 weeks to 12 weeks, and the delivery time of some solar capacitor manufacturers even reached half a year. On the one hand, the production of the solar capacitor products is lengthening, and we think the downstream customers are expected to increase the orders of the non - Solar capacitor manufacturers to promote the orders of the mainland and Taiwan capacitor suppliers. On the other hand, on the price side, the prices of Japanese and Taiwan capacitor manufacturers have risen, and mainland capacitor manufacturers are expected to benefit from the global surge in price; the upstream electronic aluminum foil and electrode foil are also expected to increase in the wave of shortage.