NEWARK, Del, Sept. 06, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the piezoelectric ceramics market size is anticipated to cross US$ 3.1 billion in 2023 and is likely to attain a valuation of US$ 5.8 billion by 2033. The piezoelectric ceramics market share is projected to thrive at a CAGR of 6.5% from 2023 to 2033.
Piezoelectric ceramics are being used more often for applications that need a single component to perform many functions. For instance, piezoelectric ceramics may be used in adaptive structures as both sensors and actuators, allowing real-time sensing and feedback-controlled actuation. A single piezoelectric ceramic component that combines numerous capabilities offers improved functionality, reduced complexity, and reduced costs.
The market for piezoelectric ceramics is increasingly emphasizing sustainability and environmental concerns. A considerable amount of attention is being paid to creating eco-friendly materials, streamlining production to use less energy and waste, and guaranteeing that piezoelectric ceramic parts may be recycled. This development fits nicely with the wider industry trend toward environmentally friendly methods of operation.
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Piezoelectric ceramics are growing progressively more in demand across a range of sectors, which necessitates customization to satisfy particular application needs. Manufacturers are providing application-specific piezoelectric ceramic solutions to meet the demands of sectors like consumer electronics, healthcare, aerospace, and automotive. The growing customization trend in the market enables enhanced performance, more dependability, and better integration inside certain systems and gadgets.
The market for piezoelectric ceramics with bending and stretchy qualities is expanding as flexible and stretchable electronics become more popular. These ceramics make it possible to integrate sensing and actuation functions in biomedical sensors, wearable technology, and other applications where flexibility is essential. To increase the flexibility and stretchability of piezoelectric ceramics, scientists, and manufacturers are continuously investigating novel materials and construction methods.
In light of the growing miniaturization trend, electronic gadgets are increasingly becoming smaller and incorporating various features. To fulfill the needs of tiny electronics like wearables, smartphones, and IoT devices, piezoelectric ceramics are being created and used in smaller form factors. To follow this trend, manufacturers are putting their efforts into creating piezoelectric ceramic components that are smaller, more flexible, and highly integrated.
Key Developments Observed by FMI in Global Piezoelectric Ceramics Industry:
- The global piezoelectric ceramics industry’s size developed at a CAGR of 7.2% from 2018 to 2022.
- In 2018, the global market size stood at US$ 2 billion.
- The global market size stood at US$ 2.9 billion in 2022.
- The capacitors segment is projected to thrive at a CAGR of 6.4% from 2023 to 2033.
- The Lead Zirconate Titanante (PZT) segment is expected to expand at a CAGR of 6.2% from 2023 to 2033.
- The United States market for piezoelectric ceramics is predicted to expand at a 6.4% CAGR from 2023 to 2033.
- The market in Japan for piezoelectric ceramics is anticipated to flourish at a CAGR of 6.4% from 2023 to 2033.
- The South Korea market for piezoelectric ceramics is projected to thrive at a 6.2% CAGR from 2023 to 2033.
Competitive Landscape:
The competitive landscape of the piezoelectric ceramics market comprises a spectrum of prominent global and regional enterprises. This landscape is characterized by intense competition driven by factors such as product portfolios, technological advancements, manufacturing capabilities, customer base, and global presence. While a few major players dominate the market, there are also smaller, niche-focused companies catering to specialized applications, contributing to market diversity and innovation.
Key Players Profiled in the Piezoelectric Ceramics Market Report:
- PI Ceramics GmbH
- APC International Ltd.
- CTS Corporation
- L3Harrris Technologies Inc.
- CeramTec
- Arkema
- Solvay
- Mad City Labs Inc.
- Piezosystem Jena GmbH
- Sparkler Ceramics
- Piezomechanik GmbH
- TDK Corporation
- Murata Manufacturing Co. Ltd.
- Kinetic Ceramics
- Hong Kong Piezo Co. Ltd.
- Mide Technology
- Meggit PLC
- Johnson Matthey
- Piezo Kinetics Inc.
- TRS Technologies Inc.
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Piezoelectric Ceramics Market Segmentation:
By Type:
- Lead Zirconate Titanante (PZT)
- Barium Titanante (BT)
- Syntontium Tantante (ST)
By Application:
- Capacitors
- Data Storage Devices
- Optoelectronic Devices
- Actuators & Sensors
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
About the Industrial Application Division at Future Market Insights (FMI):
Future Market Insights (FMI) highly experienced industrial application team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations.
With a library of over a thousand research and 1 Million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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