Multilayer ceramic electronic component and method of manufacturing the same

A method of manufacturing a multilayer ceramic electronic component, the multilayer ceramic electronic component including a multilayer body including a stack of a plurality of ceramic layers and including a first main surface and a second main surface facing each other in a stacking direction, a first lateral surface and a second lateral surface facing each other in a width direction orthogonal or substantially orthogonal to the stacking direction, and a first end surface and a second end surface facing each other in a length direction orthogonal or substantially orthogonal to the stacking direction and the width direction, a first internal electrode layer on a corresponding one of the plurality of ceramic layers and located inside the multilayer body, a second internal electrode layer on a corresponding one of the plurality of ceramic layers and located inside the multilayer body, a first external electrode including a first underlying electrode layer on the first end surface, and a second external electrode including a second underlying electrode layer on the second end surface, the method comprising:

• preparing the multilayer body;
• preparing a conductive paste for the first underlying electrode layer, the conductive paste including a metal component and a glass component;
• preparing a conductive paste for the second underlying electrode layer, the conductive paste including the metal component and the glass component;
• applying the conductive paste for the first underlying electrode layer onto the first end surface of the multilayer body;
• applying the conductive paste for the second underlying electrode layer onto the second end surface of the multilayer body;
• baking the conductive paste for the first underlying electrode layer applied on the first end surface;
• and
• baking the conductive paste for the second underlying electrode layer applied on the second end surface;
• wherein
• in the preparing the conductive paste for the first underlying electrode layer including the metal component and the glass component, ZrO2 powder is added separately from metal powder and glass powder included in the conductive paste for the first underlying electrode layer;
• in the preparing the conductive paste for the second underlying electrode layer including the metal component and the glass component, ZrO2 powder is added separately from the metal powder and the glass powder included in the conductive paste for the second underlying electrode layer;
• the metal component included in each of the conductive paste for the first underlying electrode layer and the conductive paste for the second underlying electrode layer has a central grain size of not less than about 0.2 μm and not greater than about 2.0 μm;
• and
• the glass component included in each of the conductive paste for the first underlying electrode layer and the conductive paste for the second underlying electrode layer includes Ba, a glass volume fraction is not less than about 20 vol %, and a Zr content obtained by converting ZrO2 powder as the glass component is not less than about 3 mol % and not greater than about 5 mol %.