Piezoelectric Materials Market (2023 - 2030) Size, Share & Trends Analysis Report By Product (Ceramics, Polymers, Composites), By Application (Actuators, Sensors, Motors), By End-use, By Region, And Segment Forecasts

Piezoelectric Materials Market Summary

Furthermore, the rising need for increasing efficiency and reducing lead times in production processes is expected to promote the usage of actuators, thus fueling the demand for piezoelectric materials over the forecast period.

Piezoelectric materials are used in various end-use industries such as automotive, healthcare, telecom, consumer goods, aerospace & defense, and telecommunication. The material is used in actuators, sensors, motors, generators, acoustic devices, and SONAR. End users purchase the products according to their particular requirements from manufacturers, for instance, in the automotive industry, quartz is preferred as it offers superior protection to car engines.

The value chain of the market consists of raw material suppliers, manufacturers, distributors, and end users. The majorly used raw materials for manufacturing piezoelectric include Rochelle salt, tourmaline group minerals, barium titanate, potassium niobate, sodium tungstate, zinc oxide, and polyvinylidene fluoride. The rising importance of lead zirconate titanate (PZT) as a raw material, on account of its favorable properties such as large displacement and high voltage, is expected to force manufacturers to reduce the usage of conventional quartz and silica.

The U.S. piezoelectric materials market is expected to grow at a significant rate over the coming years. The demand for piezoelectric materials is increasing in the country owing to the flourishing aerospace, wind energy, and automotive industries in the country. Additionally, the U.S. has a huge production of aerospace & defense owing to the presence of manufacturing facilities of all major industry players in the country. The major players dealing in aerospace & defense products in the country include Boeing, Lockheed Martin, and Airbus.

Piezoelectric materials are also used as a tool for increasing the efficiency of hybrid solar cells simply by placing them near the source of ambient noise or vibrations. This could be a boon for photovoltaics in urban areas, military applications, or in machinery or transportation. Advantages associated with hybrid solar cells, particularly dye-sensitized solar cells (DSSC), such as cost-effectiveness, the ability to provide electricity at low light levels, and a high-performance ratio are anticipated to open new avenues for the piezoelectric materials over the forecast period.

Numerous global, as well as regional market players, operate in the piezoelectric materials market. Factors such as penetration of the product in major end-use sectors such as automotive, healthcare, and aerospace coupled with product consumption, the presence of well-established manufacturers, and the intensity of rivalry govern the competitive nature of the piezoelectric materials market.

Product Insights

The ceramics product segment dominated the market with the revenue of USD 790.6 million in 2022 and is further expected to expand at a CAGR of 3.5% over the forecast period. Drivers of the ceramic piezoelectric materials segment include the rising incidence of cardiovascular, orthopedic, and dental diseases and the growing elderly population. The market is also witnessing increased demand from the automotive and electronics industries on account of the product’s ability to adapt according to the material used. For instance, ceramics doped with niobium form soft-PZT, and with iron form hard-PZT.

Ceramics are products manufactured by firing non-metallic materials at high temperatures. Some of the materials used in producing ceramics include alumina, zirconia (TZP), single crystal piezoelectric, silicon nitride (Si3N4), dielectrics, braze alloys, zirconia toughened alumina and silicon carbide (SiC). A growing number of medical procedures involving dental implants, cardiovascular implants, orthopedic implants, and medical imaging equipment is one of the major drivers of this product segment.

The composites product segment is anticipated to witness the fastest growth with a CAGR of 6.0% over the forecast period owing to increasing use in industries including construction, marine, pipe & tank, electrical & electronics, automobiles, and energy. Rising lightweight material demand in the aerospace industry is expected to drive the composites piezoelectric materials market.

Application industry growth including aerospace, construction, and electronics is expected to further drive demand for composite piezoelectric materials. Superior properties of composites including corrosion resistance, low maintenance, high strength, and longevity as compared to other conventional materials such as steel and aluminum are anticipated to fuel the market growth over the forecast period.

End-use Insights

The automotive end-use segment accounted for revenue of USD 261.0 million in 2022 and is expected to grow at a significant rate over the forecast period. The growth in the manufacturing output of automobiles, especially in emerging economies including China, and India, is expected to augment the requirement for piezoelectric materials in the automotive sector over the forecast period.

In addition, the rising population coupled with the increasing disposable income of customers in developing countries has led to the increasing demand for automobiles. The market is witnessing the growth of electric vehicles, which is expected to result in more production, thus leading to the growth of piezoelectric materials products.

Consumer goods segment dominated the market accounting for a revenue share of 39.1% in 2022. Growing purchasing power, high living standards, and rapid urbanization in several developed as well as developing countries are expected to drive the consumer goods sector, thereby driving piezoelectric materials demand in the coming years.

Piezoelectric material products, such as sensors and igniters, are employed in several household appliances and other consumer goods such as barbeque lighters, electric toothbrushes, alarm systems, and home security. They offer several benefits such as easy installation, no external power source required, and high-frequency response, which is expected to boost their use in the consumer goods sector.

Application Insights

Actuators application is expected to expand at a CAGR of 4.6% over the forecast period. The piezoelectric material is used to manufacture actuators owing to its superior characteristics such as high response speed, force generation, and displacement accuracy. Furthermore, key drivers for the product are automation and expansion of existing facilities, increasing demand for flow control equipment, and surging requirements for resources such as water and energy.

The market is further poised for growth owing to the increasing demand for high-volume and low-cost autofocus assemblies used in phone cameras. The demand for ultra-small-scale motion devices and manufacturing inspection equipment combined with moderate-cost ink printing cartridges has been rising considerably. Thereby, this is expected to propel the demand for piezoelectric actuators over the next few years.

The sensors were valued at a revenue of USD 146.8 million in 2022 and are expected to expand at a CAGR of 3.9% over the forecast period. Technology innovation, primarily due to enhanced manufacturing processes and embedded electronics is expected to drive the sensors demand in the market. Additionally, some of the sensors that are expected to drive the demand for piezoelectric materials include temperature, pressure, ultrasonic, touch, humidity, tilt, flow and level, smoke, gas and alcohol, infrared, and parking sensors.

Furthermore, demand for these devices to ensure occupational health and safety is on the rise across numerous industry verticals such as process and manufacturing industries. Furthermore, the increasing adoption of wireless and smart sensing technologies is expected to fuel the sensors industry demand which will propel the demand for piezoelectric material over the forecast period.

Regional Insights

Asia Pacific region dominated the market in 2022 and is further expected to grow at the fastest CAGR of 5.2% over the forecast period. The robust presence of the electronics industry in Taiwan, China, South Korea, India, and Japan is likely to be a favorable factor. In addition, improving sales of consumer electronics products in South Asia and ASEAN countries including smartphones and tablets in light of new product launches by Apple, Samsung, LG, and Huawei is expected to open new opportunities for conductive polymers.

China accounted for the major revenue share of piezoelectric materials in Asia Pacific. Regulatory support to accelerate power generation from solar and wind energy sources in China is expected to increase the demand for piezoelectric materials used in energy storage systems in the country.

North America market accounted for 22.1% of global revenue share in 2022. Rising demand for minimally invasive surgeries, increasing availability of advanced implants, and surging access to sophisticated healthcare infrastructures in the U.S. are expected to favor the growth of piezoelectric materials in the country over the forecast period.

The demand for piezoelectric materials in the U.S. is projected to expand at a CAGR of 4.1% over the forecast period. The demand for piezoelectric materials is increasing in the country owing to the flourishing aerospace, wind energy, and automotive industries in the country.

Key Companies & Market Share Insights

The key players operating in the global market for piezoelectric materials include PI Ceramic GMBH, APC International, Ltd., Harris Corporation, CTS Corporation, Peizosystem Jena GmbH, CeramTec, and Mad City Labs, Inc. Furthermore, many companies are establishing strategic partnerships with research institutes to increase their market share.

Companies are further concentrating on product innovation and launch. The research institutes are also involved in developing techniques that can be commercially utilized for producing new kinds of products. For instance, in 2020, the Indian Institute of Technology introduced a new technique to enhance the power output of piezoelectric materials. Thereby, these are expected to be used in floor tiles to generate electric energy as humans walk on these tiles. Some prominent players in the global piezoelectric materials market include:

• 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. 

Piezoelectric Materials Market Report Scope

Global Piezoelectric Materials Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global piezoelectric materials market based on product, application, end-use and region:

• Product Outlook (Revenue, USD Million; 2018 - 2030)

  • Ceramics

  • Polymers

  • Composites

  • Others

• Application Outlook (Revenue, USD Million; 2018 - 2030)

  • Actuators

  • Sensors

  • Motors

  • Acoustic devices

  • Generators

  • SONAR

  • Transducers

  • Others

• End-use Outlook (Revenue, USD Million; 2018 - 2030)

  • Automotive

  • Healthcare

  • Information & Telecom

  • Consumer Goods

  • Aerospace & Defense

  • Others

• Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa