Selbyville, Delaware , March 05, 2024 (GLOBE NEWSWIRE) -- The Piezoelectric Ceramics Market is projected to amass USD 2 billion during 2023-2032, as per a recent study by Global Market Insights Inc.
Stringent environmental regulations and evolving consumer preferences are prompting industries to seek more sustainable alternatives to traditional materials. Consumers are now mindful of the environmental impact of products they use and are opting for eco-friendly options. For instance, as per data by Travel Perk, in 2023, 49% of organizations introduced climate-friendly offerings. Non-lead piezoelectric ceramic provides comparable performance to lead-based ceramics while addressing environmental and health risks. Manufacturers have also developed innovative formulations and manufacturing processes to produce non-lead ceramics that meet or exceed performance standards, becoming careful regarding their product and service offerings.
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Rising R&D investments are driving innovation in piezoelectric ceramic materials and manufacturing processes, enhancing their performance, reliability, and cost-effectiveness. Scientists and engineers are exploring new compositions and fabrication techniques to optimize piezoelectric ceramics' properties, while advancements in manufacturing aim to improve scalability and affordability. This will further provide impetus for the industry growth.
Enhanced properties & functionality of non-lead piezoelectric ceramics
Non-lead piezoelectric ceramics market segment is anticipated to grow significantly through 2032, due to continuous innovations to improve the performance and reliability of non-lead ceramics, making them competitive with traditional lead-based counterparts. These advancements include the development of new formulations, processing techniques, and structural designs that enhance the properties and functionality of non-lead ceramics, such as higher piezoelectric coefficients, improved thermal stability, and enhanced mechanical strength.
Utility in medical imaging equipment to favor product demand
Healthcare & medical devices application segment share is poised to grow significantly during 2023 and 2032, driven by the demand for advanced diagnostic and therapeutic devices. Piezoelectric ceramics market are utilized in medical imaging equipment such as ultrasound transducers, where they convert electrical energy into mechanical vibrations to generate high-resolution images of internal organs and tissues. Additionally, the product finds application in surgical instruments, drug delivery systems, and wearable medical devices, further contributing to segment growth.
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Investments in manufacturing industries to boost the APAC market growth
Asia Pacific piezoelectric ceramics market is set to gain traction during the study period, driven by rapid industrialization, technological advancements, and increasing investments in automotive and consumer electronics manufacturing. Countries like China, Japan, South Korea, and India are leading contributors to market growth, supported by growing automotive production, expanding aerospace sector, and rising consumer electronics consumption. Additionally, the presence of major piezoelectric ceramics manufacturers and suppliers in the region further strengthens industry growth potential.
Major contenders in the piezoelectric ceramics market include, Murata Manufacturing Co., Ltd. TDK Corporation, KYOCERA Corporation, CeramTec GmbH, PI Ceramic GmbH, APC International, Ltd., Morgan Advanced Materials plc, Piezo Technologies, Mad City Labs, Inc., Physik Instrumente (PI) GmbH & Co. KG among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
