PCI-Express (Peripheral Component Interconnect Express) Design Specifications for PCB

1. The trace length from the edge of the gold finger to the PCIe chip pins shall be limited to 4 inches (approximately 100mm).
2. PCIe PERP/N, PETP/N, and PECKP/N are three differential pairs. Ensure proper isolation: maintain a 20mil spacing between differential pairs and between differential pairs and all non-PCIe signals to minimize harmful crosstalk and Electromagnetic Interference (EMI). Avoid high-frequency signals on the reverse side of the chip and PCIe signal traces; a full ground plane (GND) is recommended.
3. The length difference between the two traces in a differential pair shall not exceed 5mil, with length matching required for every segment of the two traces. Use a 7mil trace width and 7mil spacing between the two traces in each differential pair.
4. When PCIe signal pairs change layers, place ground vias near the signal vias—1 to 3 ground vias per signal pair are recommended. Use 25/14 vias for PCIe differential pairs, and the two vias must be symmetrically placed.
5. PCIe requires AC coupling between the transmitter and receiver. The two AC coupling capacitors for a differential pair must have the same package size, be symmetrically placed, and located close to the gold finger. The recommended capacitance is 0.1μF, and through-hole packages are prohibited.
6. Signals such as SCL shall not route through the PCIe main chip.       

Why are different test frequencies/voltages used to test capacitance for different capacitance ranges?

The frequency setting of the instrument depends primarily on the parasitic components of the component. For more accurate component testing, the SRF (Self-Resonant Frequency) measurement frequency of the component should be avoided. Industry users set standards for different frequency points based on capacitance values ​​(Table 1). Capacitances above 10uF are considered within the tantalum capacitor range. Therefore, as the ceramic capacitance range begins to expand to the tantalum capacitor range, the industry applies the frequency standards for tantalum capacitor measurements to ceramic capacitors.

The applied voltage also depends on the capacitor's capacitance. Typically, a voltage of 1.0 ± 0.2 Vrms is applied for 10uF and below. However, for above 10uF, the applied voltage is 0.5 ± 0.2 Vrms. High-capacitance capacitors have extremely low impedance; therefore, to supply sufficient current for measurement, the power supply needs to provide more current than that supplied with 1.0 ± 0.2 Vrms. Therefore, by reducing the applied voltage, the power supply will be able to provide sufficient current to accurately measure high-capacitance capacitors.

Class Type Capacitance Frequency Voltage

Class I 1,000pF and under 1MHz ± 10% 0.5 ～ 5 Vrms Over 1,000pF 1kHz ± 10%

Class II 10uF and under 1kHz ± 10% 1.0 ± 0.2 Vrms Over 10uF 120Hz ± 20% 0.5 ± 0.2 Vrms

Nexperia 16474 models (MOS, transistors, ICs, IGBTs) , SPQ，MOQ and (COO) Certificate of Origin lookup

Nexperia 10911 diodes SPQ，MOQ and (COO) Certificate of Origin lookup

Nexperia 83 IGBTs and modules SPQ，MOQ and (COO) Certificate of Origin lookup

Nexperia 4244 logic ICs (74 series) SPQ，MOQ and (COO) Certificate of Origin lookup

Nexperia 1236 MOS (BUK series, etc.) SPQ，MOQ and (COO) Certificate of Origin lookup

This is an excerpt of the table starting with a model number; please download the attachment to view the complete data.

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① On the circuit board, manually soldered joints can be seen connected to movable wires, but their ability to withstand repeated vibrations is definitely not as good as connectors (even those with leads)
② This is a space board that has already been put into use and was only dismantled later
③ It uses chips from Xilinx, which has been acquired by AMD and has become a subsidiary of AMD
④ What are the standards for aerospace circuit board levels? Have any industry partners shared them

Recently, images of humanoid robots running on the track and performing at exhibitions have gone viral. However, many observant viewers noticed that the engineers were still holding remote controls! The debate over whether "remote control equals fraud" is intensifying online and in the media. Today, we'll specifically discuss the issue of remote control of humanoid robots and fraud. Behind this lies a cognitive gap between technological progress and public expectations.

What is a one-year-old baby like? Robots are like that now.

Just like a one-year-old learning to walk, they need adults to support and protect them, and if they fall, they need to be picked up immediately. Humanoid robots are similar: they can take a few steps and pick things up on their own, but they rely on a "remote control" as an "invisible crutch." For example, when humanoid robots are trained in factories, they can perform tasks such as inspecting car door locks and affixing car stickers, but they must first go through the three steps of "perception-planning-execution." Autonomous decision-making in open environments is something the world hasn't yet mastered. An experienced worker in the industry gave an analogy: a robot's "cerebellum" can control balance and joint movement, but its "brain" gets confused when faced with complex situations—just like a baby can imitate walking, but is prone to falling if not being led by an adult.

Remote control isn't fraud; it's a "learning tool" for growth.

Some say "using remote control is deception," but Academician Han Guangjie said that remote control is more like an "emergency button," allowing engineers to take over and ensure safety when the robot suddenly becomes confused. Whether humanoid robot manufacturers are fraudulent depends on their advertising. If they claim "fully autonomous" operation while relying on remote control, that's fraud. If they're honest and the remote control is a "learning tool" during development, like a parent helping a toddler learn to walk, that's the proper approach. Think about it: robots learn skills through "imitation-practice-autonomy." Tesla's Optimus and Zhiyuan Yuanzheng A2 do this, collecting data through human "hands-on" teaching to form an evolutionary loop of "teaching-training-autonomy." This isn't technological regression; it's an essential part of growth.

From "learning to walk at one year old" to "walking independently," there are still hurdles to overcome.

Humanoid robots need to overcome several obstacles to walk independently without a remote control. Firstly, technically, the A2 robot from Zhiyuan Robotics, capable of traversing 100 kilometers across provinces, relies on multi-sensor fusion of dual GPS, LiDAR, and infrared depth cameras. While it can recognize complex terrain and avoid crowds, it is prone to misjudging situations and requires alerts. Secondly, in terms of safety, human-robot mixed environments require safety measures. For example, CloudMinds uses a cloud-based brain system to ensure remote intervention when robots make mistakes. Thirdly, in terms of industry, humanoid robots entering factory workshops must first overcome challenges such as cross-scene migration and small-sample learning. Currently, the robotics industry is moving towards "Level 3," aiming to handle most scenarios autonomously and only call for human assistance in complex situations. Experts predict that achieving fully autonomous "Level 4 and Level 5" robots will require another 3-5 years of development.

Controversy is a wake-up call, but also an opportunity.

This debate has also served as a reminder to the industry: technology must allow for trial and error, but communication must be transparent. Manufacturers must be honest and not mislead with claims of "fully autonomous" technology; the public must also understand that new technologies, like toddlers learning to walk, need room to grow. With breakthroughs in technologies like multimodal perception and reinforcement learning, humanoid robots will eventually need to "retire" once they reach 5 or 6 years old. Currently, robots are in a critical "learning-to-walk" stage. Controversy isn't a bad thing; it forces the industry to become more standardized. Technology hasn't been idle either, constantly pushing forward. As Pang Jianxin said, the development of humanoid robots will take three steps: first, performing limited tasks in structured scenarios; second, learning to accompany and interact; and finally, entering the home. Currently, UBTECH's training at Geely's factory and the A2 robot's cross-province journey are both examples of "learning to walk." When robots can, as Lu Junguo said, accompany the elderly and care for children in the home, that will be true "independence."

The process of a robot learning to walk is similar to that of a toddler learning to walk. First, it needs support to walk, then it gradually learns to walk independently. It can't be rushed, and it can't be faked. Don't you agree? If we are more patient and accept its "dependency" like we do with a toddler learning to walk, and if companies focus on solid research and development, robots will eventually be able to "run" on their own, entering factories, shopping malls, and even our homes.

As we all know, the design of humanoid robots is in full swing in both China and the United States. So, what chips are used in China's humanoid robots?

AI Decision-Making Chips (The "Brain")

• International: NVIDIA Jetson Orin, Jetson AGX Thor.
• Chinese Brands: Rockchip RK3588, Horizon Robotics Journey A2000 (Huashan Series), among others, are making significant strides in this sector.

Motion Control Chips (The "Cerebellum")

• International: Texas Instruments (TI, U.S.) TMS320F28377D, STMicroelectronics (ST, Europe) STM32H7 series are widely adopted.
• Chinese Brands: HPMicro HPM6E00, GigaDevice GD32H75E, etc., meet the microsecond-level synchronous control requirements for multi-joint systems.

Visual Sensing Chips (The "Eyes")

• International: Sony (Japan) IMX series are common 2D vision CMOS chips.
• Chinese Brands: Orbbec Femto series iToF chips, OmniVision (China) global shutter image sensors, enabling high-precision 3D perception and dynamic image capture.

Communication Interface Chips (The "Data Neural Network")

• International: NXP S32K39, Infineon LAN9252 are widely used.
• Chinese Brands: Create Bright Technology EtherCAT slave control chips, Youtai Micro low-latency Ethernet chips, adapting to high-real-time transmission needs.

Power Management Chips (The "Energy Heart")

• International: Texas Instruments (TI, U.S.) BQ27546, Analog Devices (ADI) LTC3880 dominate the market.
• Chinese Brands: Eastchip Semiconductor DK87XXBD series, SGMICRO high-precision power management chips, suitable for wide-voltage and fast-charging scenarios.

Memory Chips (The "Memory Center")

• Chinese Brand: GigaDevice SPI NOR Flash GD25LX series, with a data throughput of 400MB/s, can meet the requirements of fast robot code reading and program startup.              

Statement Urging Nexperia Netherlands to Earnestly Respond to Communications and Resolve the Control Right Issue to Safeguard the Stability of the Global Supply Chain

Statement by Wingtech Technology on the Suspension of the Administrative Order by the Dutch Ministry of Economic Affairs

I. Our Company's Position on the Decision of the Dutch Ministry of Economic Affairs

II. The Dutch Ministry of Economic Affairs is Obligated to Thoroughly and Comprehensively Resolve the Nexperia Semiconductor Issue

III. Wingtech Technology's Complete Rights as a Shareholder and Its Legitimate Control Over Nexperia Must Be Restored

OnePcba conducted a full-process incoming inspection on a varistor in accordance with customer requirements. In addition to routine appearance screening, the laboratory focused on "anatomical" structural verification through Cross Section (section analysis) to accurately check the integrity of the internal structure of the component.

Section analysis is a core technology for micro-detection of electronic components: through steps such as resin encapsulation curing, precision grinding, and mirror polishing, the internal structure details are finally presented intuitively with a metallographic microscope (magnification 50~500x). Its advantage lies in capturing tiny defects that cannot be identified by the naked eye and conventional detection.

For varistors, the "safety valves" of circuits, the significance of section detection is particularly critical. As the core of voltage protection in scenarios such as automotive electronics and power modules, even micron-level cracks, bubbles, or voids inside them may become "invisible bombs" for electrical breakdown and functional failure.

The test results showed that multiple samples had obvious crack and void defects, and the specific risk mechanisms are as follows:

• Crack defects: Mainly caused by sintering stress in the production process, mechanical impact during transportation, or thermal stress caused by temperature fluctuations. Under high-voltage surge scenarios, arc discharge and local overheating are prone to occur at cracks, which may轻则 cause resistor functional failure, and重则 trigger circuit short circuits, threatening the safety of subsequent equipment.
• Void defects: Mostly caused by uneven shrinkage of resin materials during packaging and gas residue during curing. Voids will reduce local heat dissipation efficiency and cause electric field concentration effect, which accelerates device aging under repeated voltage shocks and significantly shortens service life.

In fields such as automotive electronics (e.g., BMS battery management systems, radar sensors) and medical electronics that require "zero tolerance" for reliability, such potential defects are completely unacceptable. Once the device fails, it may cause serious consequences such as vehicle safety failures and medical equipment shutdowns.

Every section analysis is an in-depth diagnosis of the "health status" of components; every test report of OnePcba is a quality protection wall built for the customer's supply chain. In the follow-up, we will continue to share special detection points of other components such as capacitors and chips, so stay tuned.

Here's the gist:

“Japan is no longer the star of chip-making, but it is the ‘water and air’ that keeps every fab alive—whoever controls the equipment and materials sets the rules, and that still means Tokyo.”

1. Bottom line first: Japan is not a “chip giant,” yet it is the bloodstream of the world’s wafer fabs.  
In chip design and wafer foundry (think TSMC, Samsung) Japan isn't in charge anymore – they don't make as many or have the newest tech. But they're still big players in two important areas:

- Semiconductor equipment  
- Semiconductor materials  

Short version: the world’s fabs could keep the lights on without Japan, but they would slowly starve.

2. Where exactly is Japan unbeatable? (engineer-level breakdown)

2.1 Equipment – not ASML, but holding a stack of critical tools  
Japanese vendors (Tokyo Electron, Hitachi High-Tech, SCREEN, etc.) own ~30 % of the global fab-equipment market, second only to the U.S. Look inside a typical line and you will meet:

- Coat/develop, wet clean, etch, CVD/ALD: TEL, SCREEN, Hitachi High-Tech  
- Inspection & metrology: CD-SEM, defect review, X-ray—again Japanese boxes  

Translation: most of the recipes you run are qualified on Japanese hardware. That gives Japan loud voice in tool roadmaps, process windows and yield ramps.

2.2 Materials – the real chokepoint  
Japan controls roughly 50 % of the world’s semiconductor-materials market and dominates 14 of the 19 key classes:

- Silicon wafers (Shin-Etsu, SUMCO)  
- Photoresist / BARC (JSR, TOK, Fujifilm)  
- CMP slurry & pads (Fujimi, Hitachi Chemical)  
- EMC, underfill, leadframes for packaging  
- High-purity acids, solvents, gases  

So every photon, every polishing pad, every wafer cassette you touch has probably crossed the Sea of Japan at least once.

3. What about “made-in-Japan” chips?

3.1 From king to niche  
In the 1980s Japan held ~50 % of global semiconductor sales and crushed U.S. vendors in DRAM. Trade wars, DRAM price crashes, and slow conglomerate decisions later, it exited the memory race and lagged in advanced logic.

3.2 Where it still wins today  
  - Car MCUs, power devices, sensors (Renesas, ROHM)

  - Industrial / very reliable analog stuff

  - NAND flash (Kioxia)

Not 3 nm headlines, but AEC-Q100 Grade 0 and 30-year product lifecycles.

4. Why is everyone courting Japan again?

4.1 Geopolitics + supply-chain security  
With >90 % of leading-edge logic sitting in Taiwan, the U.S., EU and allies need a “safe node.” Japan offers political stability, deep manufacturing roots and alignment on export controls. Carve up the map and Japan becomes the designated lifeboat.

4.2 Tokyo is writing checks  
METI has earmarked > USD 20 bn since 2021:

 Rapidus – trying to make 2 nm logic chips in Hokkaido with IBM's help, planning to start in 2027

  - TSMC Kumamoto – giving big subsidies for making car and specialty chips

For engineers this means new fabs, new pilot lines, and a tight loop between tool/material vendors and the fab next door.

5. What does this mean to you as an engineer?

5.1 Process realization  
Every OPC tweak, etch bias shift or CMP dishing fix ends with a Japanese AE sending you a new recipe. Joint-development projects with TEL, JSR or Shin-Etsu are daily life.

5.2 Supply-chain risk  
Remember 2019: Japan restricted fluorinated polyimide, resist and HF to Korea—Samsung and SK hynix had <90 days of buffer. Dual-sourcing now starts with “can we get this outside Japan?”

5.3 Career & ecosystem  
Japan is moving from “backstage supplier” to “front-row manufacturer + platform.” If you care about:

- Putting together processes for advanced chips or SiC/GaN power chips

- Engineering equipment with very precise control

- Doing research on materials where even tiny amounts of impurities matter

…then Japan offers fabs, vendors and a reliability culture that trains you to think in six-sigma by reflex.

6. Human-sentence summary  
If the global semiconductor industry were a data-center:

- The USA designs the processors

- Taiwan & Korea run the servers

- Europe makes the optical switches

- Japan provides the power supplies, cables, screws, and coolant—you don't see them, but if you shut them off, the whole place goes down.

The two price increase notices from the Taiwanese passive component giant Yageo's subsidiary KEMET in April and October this year directly caused a stir in the industry. Tantalum capacitors, which are somewhat "niche" compared to ceramic capacitors, have been pushed into the spotlight. What is causing the price increase of tantalum capacitors? What is the current reaction in the spot market? What are tantalum capacitors? What kind of segment market is this?

Yageo's two price increase notices, Source: Reader's social media feed

01

Successive Price Hikes for Passive Component Tantalum Capacitors by Manufacturers

To understand these issues, we must start with Yageo's two price increase notices. In October, KEMET issued a tantalum capacitor price increase notice to customers, primarily due to a significant increase in demand for its Polymer Tantalum Capacitor product line (KO-CAP) across multiple key market segments over the past three years, coupled with rising pressures from labor, material, and equipment costs. Therefore, price adjustments will be implemented for large case size products. Effective November 1st, price increases will apply to the T520, T521, T530 series, suitable for case sizes D, V, X, Y, with voltage ranges from 2.5V to 25V, and other related series of polymer tantalum capacitors. The supply chain revealed that this price increase is as high as 20-30%.

KEMET's April price increase notice indicated that over the past three years, demand for the polymer tantalum capacitor product line (KO-CAP) had significantly increased in multiple key market areas. Faced with rising labor, material, and equipment costs, maintaining profitability for legacy part numbers (especially case size B) was difficult, leading to price increases for some specifications in the polymer tantalum capacitor product line, effective June 1. At that time, the supply chain indicated the increase was in the double-digit percentage range.

It is reported that compared to the first price increase in June, the November adjustment extends from distributors to direct sales customers, covering a broader scope. Additionally, the June increase primarily targeted small and medium case size, low-voltage, and legacy specification products, mainly due to cost pressures. The November increase, however, is not only due to cost pressures but also focuses on large case size, high-voltage products, which are key components in high-end applications like AI servers and GPU power modules.

Although Yageo's tantalum capacitor price hikes are the most discussed, Yageo is not actually the first to raise prices. Circulated price increase notices show that some domestic manufacturers, Panasonic, and AVX (Kyocera) have also successively raised prices over the past year (subject to official announcement):

December 1, 2024: Xiangjiang raised prices for standard tantalum capacitors by 20%. Reason: Production and operation planning.
April 1, 2025: Panasonic raised prices for polymer tantalum capacitors. Reason: Increase in raw material and production costs, some part numbers increased by up to 25%.
May 27, 2025: Xinyun raised prices for tantalum capacitors. Reason: Price increases for metals like tantalum and silver.
June 1, 2025: KEMET raised prices for polymer tantalum capacitors. Reason: Rising labor, material, equipment costs, primarily for case size B.
June 8, 2025: Kyocera AVX raised prices for standard tantalum capacitors. Reason: Increased raw material tantalum costs.
September 19, 2025: Kyocera AVX raised prices for standard tantalum capacitors. Reason: Increased raw material tantalum costs.
October 22, 2025: KEMET raised prices for polymer tantalum capacitors. Reason: Rising labor, material, equipment costs, primarily for case sizes D, V, X, Y.

Circulated Kyocera AVX Tantalum Capacitor Price Increase Notice, Source: Reader's social media feed

Behind such a widespread price increase for tantalum capacitors, manufacturers have pointed to a common reason: rising costs of the raw material tantalum metal.

Tantalum powder and tantalum wire are key raw materials for manufacturing tantalum capacitors. Approximately 60%-65% of global tantalum (in the form of powder and wire) is used in tantalum capacitors, making tantalum capacitors the largest downstream application for tantalum metal. Because of this, tantalum capacitors are highly dependent on the tantalum metal supply chain.

From the resource perspective, global tantalum resources are highly concentrated, and prices have obvious cyclical characteristics with significant fluctuations.

Global tantalum mine production in 2024 was about 2100 tons, with the Democratic Republic of Congo (DRC) ranking first with about 880 tons, accounting for about 42%; Rwanda about 17%; Brazil about 10%.

Imbalances in global tantalum supply and demand over the past 20+ years have repeatedly caused significant price fluctuations. Data from Guohai Securities shows that before 2010, tantalum ore prices were around $30-45/lb. After the global economic recovery from the financial crisis, prices reached a historical high of $135/lb in 2011. Later, due to factors like US-China trade friction and the COVID-19 pandemic, prices fluctuated again, rising above $100/lb before subsequently falling. This year, affected by conflicts in the DRC region, tantalite prices surged impulsively, reaching around $90/lb by September.

Overall, high concentration of tantalum resources, sensitive supply-demand dynamics, and frequent geopolitical and macroeconomic disturbances create the highly volatile characteristic of tantalum prices. This year's widespread price increases for tantalum capacitors are attributed by various manufacturers to factors such as rising upstream raw material prices and increased demand from certain downstream sectors. KEMET noted in its price increase notice that demand for its tantalum capacitors has grown significantly in multiple key end markets (such as AI, detailed later),叠加 various cost increase factors.

This year, the tantalum capacitor spot market demand has also experienced some fluctuations due to widespread manufacturer price hikes.

Manager Fu, who mainly deals in AVX tantalum capacitors, told us that their customers are mostly traders, with some end customers involved. The relevant original manufacturers issued price increase notices in June this year. Before that, in April-May, market demand indeed increased, especially in April when demand was highest, basically customers would buy upon quotation. There was another wave of price increases in June due to the notices, and the recent wave was in October with KEMET's second notice. But now, towards the end of the year, overall demand is not as strong as it was in April-May. This year, tantalum capacitor demand has increased somewhat, but performance has only seen a slight increase.

Another tantalum capacitor distributor said they handle both domestic and international brands, with wide application coverage. There was indeed a wave of activity after the Chinese New Year this year. Prices rose significantly in the second half of the year, and as year-end approaches, customer demand is better than before.

Regarding prices, Manager Fu stated that March-April saw the most drastic price increases. Many people in the market were stocking up, and prices kept rising until May-June when large quantities arrived, causing prices to drop slightly, but they remain higher than conventional levels last year. Taking the AVX general-purpose tantalum capacitor TAJA106K016RNJ as an example, the unit price was around 0.33 yuan before March-April, rose to 0.48 yuan in March-April, dropped to around 0.42 yuan in May-June, and is now around 0.4 yuan by the end of November.

Regarding lead times, according to Future Electronics' 2025 Q4 Market Outlook Report, lead times for polymer tantalum capacitors from multiple manufacturers like AVX, Vishay, Panasonic are showing signs of extension, with deliveries affected by AI applications. A distributor added that AVX's standard tantalum capacitor lead time is 16 weeks, and currently standard tantalum capacitor lead times have reached 16-20 weeks, slightly longer than the standard lead time.

Source: Future Electronics

Multiple tantalum capacitor distributors indicated that although tantalum capacitor prices have indeed risen, the market situation is also influenced by other factors, such as competition within the industry and changes in demand. Overall, compared to the price increase trend, the performance increase is relatively less pronounced.

A contact dealing with both domestic and international brands said their customers are mainly in the security and communication fields. This year, due to restricted exports to Europe and the US, demand has decreased significantly, coupled with weak domestic demand, the overall market is very competitive.

A contact mainly promoting domestic tantalum capacitors said, "Performance hasn't improved much this year, it feels like there are more competitors." Their demand comes from communications, medical, and industrial control sectors. Tantalum capacitor demand has increased this year, but some market share was taken by aluminum capacitors. Domestic price changes have not been significant. There has been an increase in requests for replacements this year, mainly coming from those using AVX, while few requests come from those using KEMET, as there isn't much stock in the market.

One distributor saw increased demand this year, receiving many inquiries for Vishay tantalum capacitors, mainly for use in AI, but actual transactions were few, with generally low accepted prices. Vishay is the most expensive brand among tantalum capacitor brands.

Overall, compared to chips, the application scale of tantalum capacitors is relatively small, and the fluctuations caused by price increases are not that frenzied. Moreover, tantalum capacitors can be replaced by other passive components in some cases, or substituted with domestic alternatives. A procurement professional who frequently buys AVX and KEMET told us that prices for these brands have increased this year, and customer demand has decreased compared to last year. Except for automotive, industrial, and medical applications, some customers in the consumer field have already switched to domestic alternatives.

02

What is the Tantalum Capacitor Market Like?

How are the Key Players Performing?

The tantalum capacitor market is highly concentrated, primarily dominated by a few international manufacturers who master the core technologies. Among them, KEMET holds the top global market share for tantalum capacitors. In 2020, Yageo acquired KEMET, expanding its product portfolio and doubling its global footprint, significantly enhancing its strength in the tantalum capacitor field. Following KEMET are AVX (a Kyocera subsidiary, 26% market share), Panasonic (14% market share), Vishay (10% market share), etc. Domestic tantalum capacitor manufacturers mainly include Zhenhua Xinyun Electronics, Torch Electron, and Hongda Electron.

Source: Yageo 2024 Financial Report

 

In the passive components field, capacitors, inductors, and resistors constitute the three major product categories, with capacitors having the largest scale, accounting for about 65% of the entire passive components market. Tantalum capacitors are one of the four core categories within capacitors (Ceramic / Aluminum Electrolytic / Tantalum / Film Capacitors).

 

Tantalum capacitors have higher costs and a smaller market share (12%) compared to the other three capacitor types. However, tantalum capacitors offer high reliability, low leakage current, stable performance, and extremely high electric field strength, making them suitable for scenarios requiring high capacitor reliability, such as industrial and military fields, possessing advantages that are difficult for the other three capacitor types to replace.

 

According to Market Reports World, consumer electronics is the largest segment for tantalum capacitors, accounting for over 35%. Among smartphones shipped in 2023, about 43% used at least one tantalum capacitor. The automotive industry further drives this growth; in 2023, over 96 million vehicles were produced globally, with 45% of them embedding tantalum capacitors in ADAS and infotainment systems.

Tantalum capacitors can be divided into two main types: standard tantalum capacitors and polymer tantalum capacitors. Standard tantalum capacitors use manganese dioxide as the electrolyte, have higher ESR, and average ripple current withstand capability. Polymer tantalum capacitors use conductive polymer as the electrolyte, have lower ESR, can withstand higher currents, offer more stable performance, and are safer.

The shift towards polymer technology for standard tantalum capacitors is the current development direction, constantly adapting to market needs. Compared to MLCCs (ceramic capacitors), polymer tantalum capacitors easily achieve higher capacitance ranges (e.g., 1000μF -- 2200μF) with a price advantage. For example, in NVIDIA's Blackwell AI servers GB200 and GB300, Vishay-produced polymer tantalum capacitors are extensively used to achieve minute-level discharge. The usage of tantalum capacitors per AI server is 2-8 times that of traditional servers, with the proportion of polymer tantalum capacitors increasing to 50%, and usage in high-end models equipped with GB200 even exceeds 10 times.

Market Reports World data shows that the global tantalum capacitor market size was valued at approximately $2.59 billion in 2024, and is projected to reach $4.32 billion (about RMB 30.7 billion) by 2033, with a compound annual growth rate (CAGR) of 5.9% from 2025 to 2033. The Asia-Pacific region leads consumption with over 52%, driven mainly by growth in the electronics and automotive industries.

The tantalum capacitor market is not large; compared to the scale of ceramic capacitors, which is tens of billions of dollars, it is considered a small market within the capacitor industry. However, it excels in its high specialization, high barriers to entry, and high value, playing a role in some critical scenarios.

By looking at the latest performance of the four major tantalum capacitor manufacturers - Yageo (KEMET), Kyocera (AVX), Panasonic, and Vishay - we can glimpse the application trends of their products.

Yageo (KEMET): Strong AI Demand Momentum

Yageo is the leading passive component manufacturer from Taiwan. Over the years, through mergers and acquisitions, it has continuously expanded its product lines, becoming the world's largest chip resistor (R-Chip) and tantalum capacitor manufacturer, and the third largest multilayer ceramic capacitor and inductor manufacturer.

Before acquiring KEMET, Yageo primarily focused on MLCC and resistor products. After acquiring KEMET in 2020, its product structure rapidly expanded to comprehensively cover "Resistors + Capacitors + Inductors/Magnetic Components," particularly strengthening the layout of tantalum capacitors and high-end capacitor products. This achieved an upgrade from a single passive component type to a full range, and from the general market to the high-end market, contributing significantly to Yageo's profits. During its peak period (2021‑2022), the gross profit margin remained around 38%.

From 2020 to the present, although Yageo's performance has fluctuated, it has reached a relatively high level this year. KEMET's substantial price increases may further boost Yageo's performance.

According to Taiwanese media reports, the two price increases prove that Yageo has successfully extended its product portfolio into higher-end, higher-margin niche markets. In the first half of 2025, polymer tantalum capacitors already accounted for 22% of Yageo's revenue. This price increase is beneficial for directly boosting its revenue and profitability. Tantalum capacitors were traditionally mainly used in notebook products, industrial, and automotive applications. With the surge in AI server demand, the strongest growth this year comes from AI applications. Yageo previously pointed out that the company's Book-to-Bill ratio averages above 1, especially in the AI application field, reaching 1.2 to 1.3, indicating strong AI demand momentum.

 

Source: Yageo Financial Report

In the first three quarters of this year, Yageo's consolidated revenue was NT$96.962 billion, a year-on-year increase of 5.78%. The gross profit margin increased by 1.1 percentage points year-on-year to 35.8%. The third quarter, in particular, benefited from demand for AI and high-end application products, with net profit attributable to the parent company reaching NT$6.356 billion, hitting a high since Q4 2022, a quarter-on-quarter increase of 27.2% and a year-on-year increase of 12.9%. Looking ahead, Yageo's customer inventory has reached healthy levels, and demand for AI products continues to grow.

 

Kyocera (AVX): Polymer Tantalum Capacitor Order Volume is Increasing

AVX is a wholly-owned subsidiary of Kyocera and a global leading supplier of various products including electronic components, connectors, and sensors. AVX belongs to Kyocera's Electronic Components Business division, which accounts for 17.6% of Kyocera's total revenue.

The semi-annual report released by Kyocera on September 30 this year showed that capacitor demand in the Electronic Components division grew in both information & communication and automotive markets. However, affected by the continued appreciation of the Yen against the US Dollar, sales revenue for the reporting period decreased by 3.4% year-on-year.

Kyocera mentioned in its 2024 annual report that due to the expansion of the AI and SSD markets, order volumes for polymer tantalum capacitors are increasing. Product certification at the Thailand factory is underway, and production scale expansion is planned from April 2025.

Panasonic: Strong AI Server Capacitor Orders Continue

Panasonic is a globally leading comprehensive electronic solutions provider. Panasonic's capacitor products belong to the Industrial Division, which accounts for 15% of total revenue.

Panasonic announced its Q2 FY2026 (July-Sept 2025) financial results. Sales growth in the Industrial Division was driven by continuously growing demand for information and communication applications (such as AI servers), leading to increased product (capacitors, multilayer circuit board materials) sales. Profit grew, mainly due to increased product sales for information and communication applications, price adjustments, etc.

 

Source: Panasonic Financial Report

Panasonic emphasized that orders for polymer tantalum capacitors (Conductive polymer capacitors) used in AI servers remain strong.

 

Panasonic Capacitor Product Book-to-Bill Ratio, Source: Panasonic Financial Report

Vishay: Increased Smart Grid Infrastructure Sales, Continued Growth in AI Server Orders

Vishay is one of the world's largest manufacturers of discrete semiconductors and passive electronic components. NVIDIA's GB200 GPU cluster, with single-unit power consumption exceeding 2000W, uses Vishay's polymer tantalum capacitors. Orders for Vishay's vPolyTan already account for over 70% of its 2025 capacity, and lead times have extended to 3-6 months.

Vishay's Q3 2025 revenue was $790.6 million, of which Capacitors revenue was $130 million, accounting for 16.4%.

 

Vishay Capacitors Net Revenue, Book-to-Bill Ratio, Gross Margin, and Operating Margin for five quarters from FY2024 Q3 to FY2025 Q3 (left to right) (Unit: $ thousand)

 

Vishay's Historical Revenue Changes

Vishay stated in a recent earnings call that Q2 revenue in the Industrial segment grew by 2%, mainly benefiting from deliveries of capacitors for smart grid infrastructure projects led by European and Chinese automotive OEMs. The industrial market is showing signs of recovery in Q3. As new AI server power supply projects enter mass production, the company observes continuous growth in order volume. In Q3, they continued to expand customer coverage, providing product support for more AI customers. The product coverage rate for capacitors has improved, and certification work for polymer tantalum capacitors is steadily advancing.

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Conclusion

This year, almost all major tantalum capacitor manufacturers have successively raised prices. As the leading tantalum capacitor manufacturer, Yageo's single price increase reached as high as 30%, inevitably reminding the market of the轰轰烈烈的 MLCC price surge years ago, speculating whether this is a repeat of the "old play." However, judging from the reasons for price increases announced by various manufacturers, the pressure from upstream raw material costs indeed exists objectively, and the new demand brought by emerging applications like AI cannot be ignored either. The underlying reasons are probably more complex.

In fact, recently, price increase voices across the entire passive components industry have been rising one after another; not only are capacitors rising, but products like inductors are also following suit. For example, Fenghua Advanced Tech explicitly stated in its latest price increase notice that costs for various metal materials like silver, tin, copper, bismuth, and cobalt continue to rise; the Taiwanese inductor giant Taico also announced price increases for multilayer chip beads and inductors. With these back-and-forth price adjustments, the passive components industry has suddenly become "lively." We will continue to monitor market performance regarding how subsequent market demand changes.