Piezoelectric Materials Market Size to Reach USD 1,839.4 Million by 2027; Rising R&D Activities to Create Lead-free Piezoceramics will Boost Growth, Says Fortune Business Insights™

Pune, July 20, 2020 (GLOBE NEWSWIRE) — The global piezoelectric materials market is anticipated to gain impetus from the increasing research and development activities to create lead-free piezoceramics. They include three vital compositional families, namely, bismuth perovskite-based ceramics, alkaline niobate perovskite-based ceramics, and titanate-based ceramics. This information is given by Fortune Business Insights™ in a recent report, titled, “Piezoelectric Materials Market Size, Share & Industry Analysis, By Type (Piezoceramics [Lead Zirconate Titanate and Lead-free Ceramics], Piezopolymers, Piezocomposites, and Others), By Application (Actuators, Motors, Transducers, Sensors, SONAR, Generators & Transformers, Acoustic Devices, Resonators, and Others), By End-Use Industry (Automotive, Healthcare, IT & Telecom, Consumer Goods, Aerospace & Defense, and Others), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 1,352.2 million in 2019. It is projected to reach USD 1,839.4 million by 2027, thereby exhibiting a CAGR of 4.0% during the forecast period.
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PI Ceramics GmbH (Germany)APC International Ltd. (U.S.)CTS Corporation (U.S.)L3Harris Technologies, Inc. (U.S.)CeramTec (Germany)Arkema (France)Solvay (Belgium)Mad City Labs, Inc. (U.S.)Piezosystem jena GmbH (Germany)Sparkler Ceramics (India)Piezomechanik GmbH (Germany)TDK Corporation (Japan)Murata Manufacturing Co., Ltd. (Japan)Kinetic Ceramics (U.S.)Hong Kong Piezo Co. Ltd. (China)Mide Technology (U.S.)Meggit PLC (UK)Johnson Matthey (UK)Piezo Kinetics Inc. (U.S.)TRS Technologies, Inc. (U.S.)Other Key Players
This Report Answers the Following Questions:What are the market dynamics and growth drivers?Which restraining factors would the market come across?Which region is expected to dominate in the coming years?How will the companies accelerate sales of piezoelectric materials?
Drivers & Restraints-Rising Automation in Automotive & Electronic Industries to Boost GrowthSeveral end-use industries such as electronics and automotive are looking forward to bringing in automation in their manufacturing processes. This has further surged the demand for devices, such as motors, actuators, transducers, and sensors. These devices help in the smooth operation of production lines. They utilize piezoelectric materials to measure various quantities, namely, acoustic intensity, strain, pressure, and acceleration. Therefore, the demand for these materials is expected to grow in the coming years backed by the high dependence of industries on automation.https://www.fortunebusinessinsights.com/piezoelectric-materials-market-102938
Segment-Automotive Segment to Grow Steadily Owing to High Usage of Piezoelectric MaterialsBased on end-use industry, the market is segregated into aerospace & defense, consumer goods, IT & telecom, healthcare, automotive, and others. Out of these, the automotive segment held 18.4% piezoelectric materials market share in 2019. This growth is attributable to the usage of these type of materials in braking systems, sensors, fuel injectors, and actuators. Also, tire pressure sensors, airbag sensors, seat belt buzzers, and fuel atomizer require these materials extensively. Such factors would contribute to the steady growth of this segment in the coming years.Regional Analysis-Government’s Support to Manufacturers during COVID-19 will Favor Growth in Asia PacificIn terms of geography, in 2019, Asia Pacific generated USD 905.9 million revenue. This growth is attributable to the expansion of production capacities by companies located in South Korea, India, China, Taiwan, and Japan. These countries are considered to be the major manufacturing hubs for consumer goods and electronics. Besides, the COVID-19 pandemic has caused losses for the electronics manufacturers. Thus, the governments of these countries are offering them incentives and tax rebates to set up new production plants.North America, on the other hand, is anticipated to showcase good growth on account of the major contribution of the U.S. The country is planning to conduct several space exploration programs. Hence, the sensing objects used in such activities would require piezoelectric materials to achieve remote access to the components of the spacecraft. Europe is set to revive after the severe effects of the coronavirus pandemic. This would mainly occur because of the research and development of automated and driverless cars.
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Key Players Focus on Expanding Production Capacity to Gain Competitive EdgeThe market houses numerous companies that are mainly focusing on broadening their production capacity. Some of the others are aiming to adopt the strategies of merger and acquisition and new product launches to strengthen their positions. Below are a couple of the latest industry developments:April 2020: CTS Corporation unveiled four crystal families to be used in automotive-grade crystal resonators. They are best suited for the usage in aerospace & defense, automotive, medical, and industrial sectors.July 2019: PI Ceramic GmbH expanded its production facility situated in Thuringia. It would surge the facility’s area to 19,500 sq. meters from 12,000 sq. meters. It would include an additional line for the manufacturing of multilayer piezoelectric materials.Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesKey Developments: Mergers, Acquisition, Partnership, etc.Latest Technological AdvancementInsights on Regulatory ScenarioPorters Five Forces AnalysisGlobal Piezoelectric Materials Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypePiezoceramicsPZTLead-free CeramicsPiezopolymersPiezocompositesOthersMarket Analysis, Insights and Forecast – By ApplicationActuatorsMotorsTransducersSensorsSONARGenerators & TransformersAcoustic DevicesResonatorsOthersMarket Analysis, Insights and Forecast – By End-Use IndustryAutomotiveHealthcareIT & TelecomConsumer GoodsAerospace & DefenseOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificLatin AmericaMiddle East & AfricaTOC Continued…!!!
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