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Piezoelectric Materials Market to Reach $1.82 bn by 2028; Flourishing Automotive and Electronics Industries to Spur Demand

January 12, 2022 | Chemicals & Materials

The global piezoelectric materials market size is expected to reach USD 1.82 billion by 2028. The growing utilization of piezoelectric in a vast variety of materials such as quartz crystal, Rochelle salt, ceramics, polymers, micro-fiber composites, ferroelectrets, and flexoelectric materials will bolster the healthy growth of the market. Fortune Business Insights mentioned in a report titled “Piezoelectric Materials Market Size, Share & COVID-19 Impact Analysis, By Material (Piezoceramics [Lead Zirconate Titanate {PZT} and Lead-free Ceramics], Piezopolymers, Piezocomposites, and Others), By Application (Actuators, Motors, Transducers, Sensors, SONAR, Generators & Transformers, Acoustic Devices, Resonators, and Others), By End-Use Industry (Automotive, Healthcare, IT & Telecom, Consumer Goods, Aerospace & Defense, and Others), and Regional Forecast, 2021-2028.” The market size stood at USD 1.31 billion in 2020 and is expected to exhibit a CAGR of 4.4% between 2021 and 2028.


Expansion of CTS’s Portfolio to Accelerate Market Growth


CTS Corporation, a leading designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers, announced its product portfolio's expansion with the introduction of four crystal families for application in automotive-grade crystal resonators. The newly developed products will have applications in a wide range of industries such as automotive, industrial, medical, and aerospace & defense. The expansion projects coupled with mergers and acquisitions of major companies can have an excellent effect on the market. For instance, in June 2019, L3 Technologies, Inc. and Harris Corporation announced that it had signed a partnership agreement with L3Harris Technologies, Inc. for its operations and the formation of a new company. The new development will help the companies to establish a newly founded company as an agile aerospace & defense technology innovator and deliver value-laden services to its customers.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/piezoelectric-materials-market-102938


Increasing Automation in Industries to Promote Growth


 The advancements in the automotive and electronics manufacturing industries will subsequently encourage the healthy growth of the market. Moreover, the growing demand for devices such as sensors, transducers, actuators, and motors can spur lucrative opportunities for the market. These devices use properties endowed by the piezoelectric materials to measure various quantities such as acceleration, pressure, strain, and acoustic intensity. Hence, the growing demand for these materials will consequently enable the speedy expansion of the market. However, harsh environments such as high temperature and heavy stress can affect its consistency, which, in turn, will restrict the adoption and dampen the piezoelectric materials market growth.


 Product Development by Key Players to Establish Strong Market Presence


The market is dominated by major companies accounting for a significant share in the industry. Key players in the market are investing heavily in research and development activities to develop advanced materials to cater to the demand from industries. Moreover, the key players are adopting strategies such as capacity expansion, acquisition, partnerships, collaborations, and mergers to remain at the forefront. In addition, the growing concentration on product development by prominent companies will further enable speedy expansion of the market.


Notable Development:



  • February 2020: Fukui Murata Manufacturing Co., Ltd expanded its existing manufacturing facility with the construction of a new production building in Fukui Prefecture, Japan. The new production unit will enable the company to increase the demand for ceramic components, including piezoceramics, in the upcoming years.


The Report Lists the Key Players in the Market:



  • PI Ceramics GmbH (Germany)

  • APC International, Ltd. (U.S.)

  • CTS Corporation (U.S.)

  • L3Harris Technologies, Inc. (U.S.)

  • CeramTec (Germany)

  • Arkema (France)

  • Solvay (Belgium)

  • Mad City Labs, Inc. (U.S.)

  • Piezosystem jena GmbH (Germany)

  • Sparkler Ceramics (India)

  • Piezomechanik GmbH (Germany)

  • TDK Corporation (Japan)

  • Murata Manufacturing Co., Ltd. (Japan)

  • Kinetic Ceramics (U.S.)

  • Hong Kong Piezo Co. Ltd. (China)

  • Mide Technology (U.S.)

  • Meggit PLC (U.K.)

  • Johnson Matthey (U.K.)

  • Piezo Kinetics Inc. (U.S.)

  • TRS Technologies, Inc. (U.S.)


Further Report Findings:



  • Regional Analysis: In 2020, Asia Pacific stood at USD 0.89 billion and is expected to hold the largest piezoelectric materials market share in the global market during the forecast period owing to the expansion projects by key players in China, Japan, Taiwan, India, and South Korea. The booming electronics industry is expected to foster growth in the region.

  • Leading Segment: This market is divided into automotive, healthcare, IT & telecom, consumer products, aerospace & military, and others based on the end-use industry. Automotive held a share of 18.1% in 2020 and is expected to experience rapid growth due to the requirement for these materials as actuators, fuel injectors, sensors, and braking systems present in cars


Table of Segmentation-






















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



  2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Volume (Million Cubic Centimetres) and Value (USD Billion)



Segmentation



By Material, By Application, By End-use Industry, and By Geography



By Material




  • Piezoceramics

    • PZT

    • Lead-free Ceramics



  • Piezopolymers

  • Piezocomposites

  • Others



By Application




  • Actuators

  • Motors

  • Transducers

  • Sensors

  • SONAR

  • Generators & Transformers

  • Acoustic Devices

  • Resonators

  • Others



By End-Use Industry




  • Automotive

  • Healthcare

  • IT & Telecom

  • Consumer Goods

  • Aerospace & Defense

  • Others



By Geography


 




  • North America (By Material, By Application, By End-Use Industry, By Country)

    • U.S.

    • Canada



  • Europe (By Material, By Application, By End-Use Industry, By Country)

    • Germany

    • Italy

    • France

    • Switzerland

    • Spain

    • Poland

    • U.K.

    • Nordic

    • Benelux

    • Rest of Europe



  • Asia Pacific (By Material, By Application, By End-Use Industry, By Country)

    • China

    • South Korea

    • Japan

    • Taiwan

    • India

    • Southeast Asia

    • Rest of Asia Pacific



  • Latin America (By Material, By Application, By End-Use Industry, By Country)

    • Mexico

    • Brazil

    • Argentina

    • Rest of Latin America



  • Middle East & Africa (By Material, By Application, By End-Use Industry, By Country)

    • GCC

    • South Africa

    • Israel

    • Turkey

    • Rest of Middle East & Africa




Global Piezoelectric Materials Market
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  • 2017-2019
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