Piezoelectric Materials Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2016 - 2025

Industry Insights

The global piezoelectric materials market size was valued at USD 1.17 billion in 2015. The rising popularity of piezoceramics on account of exhibiting high dielectric constant for the production of electronic goods is expected to drive industry growth. Over the past few years, major manufacturing companies have been increasing spending on the implementation of automation systems as an important tool to reduce operational costs during production. The rising importance of automation in the manufacturing sector as a tool for increasing efficiency and reducing lead time is expected to promote the usage of actuators and thus will fuel the demand for piezoelectric materials over the forecast period.

Japan piezoelectric materials market revenue, 2014 - 2025 (USD Million)

Piezoelectric materials have the ability to change shape and possess a high degree of stiffness during their exposure to mechanical stress. These materials are majorly used in the formulation of a wide range of electronic goods including actuators, sensors, transducers, SONAR, generators, and motors, which in turn will augment market growth over the forecast period.

Rising demand for photovoltaic cells in developed economies including the U.S. and Germany in light of regulatory support regarding Feed-in Tariff (FiT) is expected to increase the usage of the product. However, growing demand for substitutes including dielectric and inherently conductive polymers in manufacturing actuators owing to product innovation by Parker and Solvay is expected to hinder the industry expansion. 

Product Insights

Ceramics was the most widely used product accounting for 60.8% of the global industry size in 2015. Increasing demand for ceramic-based lead zirconate titanate (PZT) as a result of the product’s ability to exhibit significant displacement and induce high voltage is expected to remain a major growth factor over the next nine years. Piezocomposites are projected to foresee growth at a CAGR of 4.6% from 2016 to 2025. Growing usage of the composite as a filler owing to its excellent electro-acoustic efficiency and wide-range of bandwidth is expected to have a significant impact on the market.

Application Insights

Actuators dominated the market and accounted for 34.1% of the overall share in 2015. Rising demand for electric actuators as a tool of high power efficiency and excellent rotational speed is expected to play a significant role in increasing industry size over the next nine years. Generators are expected to witness the fastest growth at a CAGR of 6.1% from 2016 to 2025. Rising demand for piezo generators on account of their ability to exhibit low-frequency sound waves is likely to increase the market size over the forecast period.

End-use Insights

Consumer goods were the largest end-use of the market in 2015. Significant gains in the electronics sector in China, Japan, and South Korea owing to product innovation such as the introduction of 4K technology along with increasing demand for the LED on a domestic level is expected to promote the industry development. The market is estimated to be worth USD 707.3 million by 2025.

Global piezoelectric materials market share, by end-use, 2015, (%)

The automotive industry is projected to foresee growth at a CAGR of 3.1% from 2016 to 2025. The European Commission implemented low-speed collision avoidance systems and driver’s assistance systems for all the vehicles, which is expected to promote the usage of electronic goods and thus increase product demand over the forecast period.

Regional Insights

Asia Pacific reported a sales revenue of USD 469.4 million in 2015 and is expected to witness significant gains in light of the presence of electronic manufacturing units in China, Japan, South Korea, and Taiwan.

The growing automotive sector in China and India as a result of new investments by Ford and Volkswagen on a domestic level is expected to increase the demand for electronic accessories including motors. The above-mentioned trends are projected to play a significant role in increasing the use of piezoelectric materials in the formulation of actuators, sensors, and other electronic accessories.

Europe accounted for 18.2% of global market share in 2015 Rising military spending by the governments of Germany, UK and Russia are expected to promote the use of piezoelectric materials over the upcoming years.

Competitive Insights

Major manufacturers include PI Ceramic, Harris Corporation, CeramTec, APC International, Morgan Technical Ceramics, and Mad City Labs. The establishment of strategic partnerships with research institutes is expected to remain a major critical success factor for market growth.

In April 2012, the European Commission submitted a final report on the IMMEDIATE program that is aimed at developing lead-free piezoelectric crystals for use in ultrasonic medical diagnostic equipment. In April 2015, the researchers at the Cambridge University, National Physical Laboratory, and Antenova Ltd. found that piezoelectric materials are potential raw materials for producing antennas on account of their excellent electromagnetic radiation property.

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the market trends in each of the sub-markets from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the piezoelectric materials market on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Ceramics

  • Polymers

  • Composites

  • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Actuators

  • Sensors

  • Motors

  • Acoustic Devices

  • Generators

  • SONAR

  • Transducers

  • Others

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Automotive

  • Healthcare

  • Information & Telecom

  • Consumer Goods

  • Aerospace & Defense

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Mexico

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • MEA