Learnings about Film capacitor market

I was reading a Goldman sachs report on EV supply chain. Some key learnings:

1. Faratronic is largest film capacitor supplier globally, with ~21% market share in 2022 (vs. 17% in 2021)
2. Scale advantage and in-house production capabilities translating to an industry-leading margin profile
3. There are concerns on cost, high-end film prices have continued to rise due to supply tightness (shows favorable demand supply scenario for Xpro).
4. The company is also expanding into new areas such as DC power transmission and railway/subway systems (new areas of application).
5. Jianghai makes aluminum electrolytic capacitors and film capacitors for EVs. Their pipeline business of film capacitor and super capacitor products is about to bear fruit in coming years driven by new energy demand.
6. Nichicon is a Japan-based company. There is a clear shift in its earnings drivers, from aluminum electrolytic capacitors prior to the Covid pandemic, to power storage systems, EV film capacitors and other carbon-neutral products at present. The hybrid vehicle (HV)/electric vehicle (EV) film capacitor business has seen sharp growth in on the back of demand from a major North American EV automaker. Goldman Finds the current valuations attractive considering the growth potential of the film capacitor and household energy storage system business.

Some learnings from reading about Faratonic from Internet

1. Faratonic is at 5000 cr INR runrate right now. It has 21% global market share. This means that global film capacitor market is 24000 cr (TAM). This means capacitor films market is 10000-12000 cr globally (TAM).
2. Faratonic grew 30-40% for last 4 quarters (high growth for faratonic) : SHA:600563 – Google Search
3. Global film cap market grew from 21k cr in 2021 to 24k cr in 2022. This is 14% growth rate (global film capacitor market is high growth market).
4. Film capacitors used in renewable energy market is the key R&D direction. Province level R&D center with most advanced testing machines. Investment in R&D is accounting about 3% of total sales revenue : Film capacitors,Metallized film,Capacitor.–XIAMEN FARATRONIC CO., LTD
5. The total annual output for faratonic was 3 billion pcs for film capacitors in 2007 & was ranked No. 3 in the world. This shows the growth they have exibited to become largest now : https://www.ibselectronics.com/passive/faratronic/
6. Faratonic makes a wide variety of capacitors: Film Capacitors for PCB, Film Capacitors for Power Electronics, AC Motor Capacitors, Capacitors for Lamps, Metallized film : Film capacitors,Metallized film,Capacitor.–XIAMEN FARATRONIC CO., LTD
7. Faratonic is a publicly traded company in China & has a good ROIC & Net margin of 26% & 30% respectively. It trades at 35x earnings: wsj.com/market-data/quotes/CN/600563/financials

Disc: Invested, studying more.
Key thing to pin down in my opinion is the precise size of opportunity per EV 2W & 4W. Im working on it.