Organization: By 2026, the MLCC market will experience polarization. Physical AI will drive high-end demand.

According to TrendForce's consulting, the global MLCC market in the first quarter of 2026 showed a polarization. The landing of physical AI applications has stimulated the demand for high-end MLCCs, driving the production capacity of major factories in Japan and South Korea to be fully loaded, with a significant increase in orders. However, the mid-to-low-end MLCC market is facing operational pressures, especially in the consumer electronics sector, due to rising raw material costs and weak demand. The demand for high-end MLCCs is strong due to the construction of AI infrastructure, while the consumer electronics market faces increased inventory pressure due to rising costs and weak demand. The increase in international metal raw material prices has raised the cost of passive components, but the cost of MLCCs remains relatively stable and unaffected by price hikes. TrendForce's observation is that the supply chain in the first quarter of 2026 will present a pattern of "hot AI, cold consumption." Suppliers need to actively develop high-end AI products to capture growth opportunities, while strictly controlling traditional product inventory and cost risks to deal with increasingly challenging market changes.