Piezoelectric Materials Market To Reach $1,972.2 Million By 2030

Piezoelectric Materials Market Growth & Trends

The global piezoelectric materials market size is expected to reach USD 1,972.2 million by 2030, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. This growth can be attributed to the rising importance of automation in the manufacturing sector as a tool for increasing efficiency and reducing operational costs during production.

The market is also expected to be driven by rising demand for alternate sources of energy on account of the depletion of fossil fuels and rising concerns regarding environmental pollution caused by non-renewable sources of energy. Piezoelectric materials are widely used in the production of renewable energy. These materials have the ability to convert electric energy to mechanical energy and conversely, mechanical energy to electric energy.

The widespread usage of piezoelectric actuators in microelectronics, semiconductors, optics, telecommunication, biology, photonics, and metrology is further projected to spur market growth significantly over the next few years. Piezoelectric actuators and motors find widespread application in vibration cancellation, gene manipulation, machine tool alignment, fiber tool alignment, active damping, shockwave generation, wafer mask alignment, and image stabilization, which is expected to drive the global piezoelectric actuators and motors market over the coming years.

The motors made using piezoelectric materials are expected to witness significant growth over the forecast period owing to several benefits offered by the material such as reliability and cost-effectiveness. Piezoelectric motors, once a technological novelty, have gradually entered the mainstream market, and are expected to witness significant demand and sales. In addition, such motors utilize the piezoelectricity of crystal along with controlling the mechanical displacement at an efficient speed.

The market also witnessed an investment in the development of lead-free piezoelectric materials. Various manufacturers and institutes are involved in the research related to the following. For instance, CTS Corporation received funding from Eurostars to develop next-generation piezoelectric materials that are lead-free, thereby are environment-friendly.

Stringent regulations have been imposed by the EPA and the European Commission, which aim at reducing the use of lead-based materials in the production of piezoelectric products. These regulations are further expected to force manufacturers to increase their spending on the development of eco-friendly products, thus creating new opportunities in the market.

The market is governed by several bodies such as the American Society for Testing and Materials, The European Committee for Standardization, The Environmental Protection Agency, and International Organization for Standardization. The standards and regulations have been laid down for production as well as the application of piezoelectric materials.

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Piezoelectric Materials Market Report Highlights

• The polymer segment of the market was valued at USD 349.9 million in 2022 and is anticipated to grow at a CAGR of 5.6% over the forecast period. Polymer-based medical equipment is being increasingly preferred to conventional equipment owing to its lightweight, processing ease, low cost, and easy availability; this is expected to drive the market growth

• Piezoelectric generators segment is anticipated to expand at a CAGR of 5.5% from 2023-2030, reaching USD 95.7 million by 2030. These generators are adopted in various industries including consumer goods, industrial settings, defense, security, medical devices, automotive, and aerospace. Rising demand for piezoelectric generators on account of their ability to exhibit low-frequency sound waves is likely to boost the market growth over the forecast period

• Consumer goods end-use segment accounted for a revenue share of 39.1% in 2022 in the global piezoelectric materials industry and is expected to expand at a CAGR of 4.4% over the forecast period. 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 product demand in the coming years

• Europe is expected to witness growth at a CAGR of 3.7% over the forecast period. The well-established automotive, aerospace & defense, construction, and electronics industries in Europe are expected to boost the demand for piezoelectric materials in the region as these end-use industries are key consumers of these materials

• The existing and emerging application scenario is anticipated to offer favorable opportunities for key players operating in the market. The focus on the rising number of end-use applications including actuators, sensors, generators, and motors is also considered a key opportunity for new entrants to establish themselves in the global piezoelectric materials market

Piezoelectric Materials Market Segmentation

Grand View Research has segmented the global piezoelectric materials market based on product, application, end, and region:

Piezoelectric Materials Product Outlook (Revenue USD Million, 2018 - 2030)

• Ceramics

• Polymers

• Composites

• Others

Piezoelectric Materials Application Outlook (Revenue USD Million, 2018 - 2030)

• Actuators

• Sensors

• Motors

• Acoustic devices

• Generators

• SONAR

• Transducers

• Others

Piezoelectric Materials End-use Outlook (Revenue USD Million, 2018 - 2030)

• Automotive

• Healthcare

• Information & Telecom

• Consumer Goods

• Aerospace & Defense

• Others

Piezoelectric Materials 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

List of Key Players in the Piezoelectric Materials Market

• 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.