Piezoelectric Materials Market expected to reach USD 2.287 Billion by 2032
Apr 16, 2024
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Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), Piezoelectric Materials Market Information by Application, End-use, Product, and Region - Forecast till 2032," The piezoelectric materials market can expect to rise from USD 1.57 Billion in 2023 to USD 2.287 Billion by 2032, with a CAGR of 4.80% between 2023 and 2032.
Market Competitive Landscape:
- PI Ceramic GMBH
- APC International, Ltd.
- Harris Corporation
- CTS Corporation
- Peizosystem Jena GmbH
- CeramTec
- Sparkler Ceramics
- Noliac A/S
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Mad City Labs, Inc.
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Market Synopsis
Piezoelectricity is a property possessed by some materials whereby they generate an electric field when force is applied. On the other hand, when an electrical field is applied across the material, it changes its dimensions. In simple terms, these materials change mechanical energy into electrical energy and vice versa. This makes them to be commonly referred to as transducers. These substances use piezoelectricity to convert the difference in energy into an electric charge so as to measure changes in velocity, stress-strain or heat or force acting on them.
These products are used for producing sound and frequency processes, ignition devices, SONAR (sound navigation and ranging) systems, and pressure & displacement measurement systems that apply this effect. Pyroelectric ceramics are those types of solids where negative charges move towards a point having high temperature while positive ones concentrate in a colder part of the body. The opposite happens during the cooling period, i.e., at low temperatures.
New piezoelectric devices employ various compositions, including quartz crystal, Rochelle salt, ceramics, polymers, macro-fiber composites, ferroelectrets and flexoelectric materials. The choice of suitable materials for different purposes depends on their consistency, stability, high input-to-output ratio value as well as malleability heat and humidity resistance. Historically speaking, the primary application was made with quartz crystals in piezoelectric devices but was therefore replaced by modern materials like piezo composites and piezoceramics due to its inability to react at low voltages and work under temperatures above 300? C.
Market USP Covered:
Market Drivers:
Automotive, healthcare, communications, consumer products, aerospace & military, and telecommunication employ piezoelectric materials. Actuators, sensors, motors, generators, acoustic devices, and SONAR employ it. Manufacturers sell items to end consumers according on their needs. In the automobile business, quartz seals vehicle engines better.
The market value chain includes raw material suppliers, manufacturers, distributors, and consumers. Rochelle salt, tourmaline group minerals, barium titanate, potassium niobate, sodium tungstate, zinc oxide, and polyvinylidene fluoride are common piezoelectric raw materials. Manufacturers are projected to use less quartz and silica as lead zirconate titanate (PZT) becomes more popular as a raw material because to its high displacement and voltage.
Piezoelectric materials may also boost hybrid solar cell efficiency by being placed near noise or vibration sources. Photovoltaics in metropolitan areas, military applications, equipment, and transportation may benefit. The cost-effectiveness, low-light capability, and high-performance ratio of hybrid solar cells, particularly dye-sensitized solar cells (DSSC), are expected to open new markets for piezoelectric materials over the forecast period.
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Market Restraints:
Piezo materials are applied widely in sensing and energy conversion devices. However, conventional materials like PZT and natural piezo crystals cannot distinguish between real signals and those which are just noise in the system resulting into an inaccurate outcome that affects the operation of a device where piezoelectric material is used. On top of that, the accuracy of the results provided by the material is greatly compromised under extreme conditions such as high temperature or heavy stress, thereby limiting its use.
Market Segmentation
The Piezoelectric Materials Market segmentation, based on application includes Actuators, Sensors, Motors, Acoustic devices, Generators, SONAR, Transducers, and others.
The Piezoelectric Materials Market segmentation, based on end-use, includes Automotive, Healthcare, Information & Telecom, Consumer Goods, Aerospace & Defense, and more.
The Piezoelectric Materials Market segmentation, based on product, includes Ceramics, Polymers, and Composites.
Regional Insights
The North American piezoelectric materials market will lead in the years to follow. The U.S. is expected to see a growth in piezoelectric materials due to rising demand for minimally invasive surgeries, access to advanced healthcare infrastructure, and new implants.
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