Global Piezoelectric Materials Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Piezoelectric materials cause flow of electrons when they are subjected to mechanical stress. It is a reversible process. So, if an electric current is applied to these materials, they will change their shape a bit. The materials with piezoelectric properties comprise ceramics, bone, crystals, and proteins.
The factors that are playing a major role in the growth of piezoelectric materials market are growing popularity of piezo ceramics, rising expenditure by manufacturers on automation systems, and development of ultrasonic transducers for the detection of gas bubbles. Piezoelectric materials market is segmented based on product type, application, end users, and region.
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Composites, ceramics, polymers, and the other product types could be explored in piezoelectric materials in the forecast period. Ceramics sector accounted for the substantial market share of piezoelectric materials and is estimated to continue its dominance in the years to come. This could be because of growing demand for ceramic-based lead zirconate titanate (PZT). In addition, the piezo-composites sector is estimated to grow at the fastest pace in the years to come.
The market may be categorized based on applications like transducers, actuators, SONAR, sensors, generators, motors, acoustic devices, and others that could be explored in the forecast period. Actuators accounted for the significant market share of piezoelectric materials. The reason behind the overall market growth could be high demand from consumers due to exceptional rotational speed and a tool of high power efficacy. Also, generators sector is estimated to grow at the highest CAGR in the years to come.
Based on end use, piezoelectric materials could be classified into aerospace & defense, automotive, consumer goods, healthcare, information & telecom, and others. Consumer goods sector accounted for the significant market share of piezoelectric materials and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be high demand for LED and 4K technology. Also, the automotive sector is estimated to grow at the highest CAGR by 2025.
Globally, Asia Pacific accounted for the significant market share of piezoelectric materials and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the existence of electronic industrial units in Taiwan, China, South Korea, and Japan, acceptance of portable electronics technology, and rise in the information & digitalization and communication markets. Also, Europe is estimated to grow at the fastest pace in the years to come.
The key players of piezoelectric materials market are Mad City Labs, PI Ceramic, Morgan Technical Ceramics, Harris Corporation, APC International, and Ceram Tec. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
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Product Outlook (Revenue, USD Million, 2014 – 2025)
Application Outlook (Revenue, USD Million, 2014 – 2025)
• Acoustic devices
End-use Outlook (Revenue, USD Million, 2014 – 2025)
• Information & Telecom
• Consumer Goods
• Aerospace & Defense
Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/sensors
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