Pune, India, Jan. 13, 2022 (GLOBE NEWSWIRE) -- The global piezoelectric materials market size is expected to reach USD 1.82 billion by 2028, exhibiting a CAGR of 4.4% during the forecast period. The growing development of lead-free piezoelectric materials due to strict regulations will subsequently foster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Piezoelectric Materials Market, 2021-2028.” The market size stood at USD 1.31 billion in 2020.
COVID-19 Impact:
Scarcity of Raw Materials to Restrict Market Growth Amid COVID-19
Covid-19 has critically impacted the value chain of piezoelectric materials manufacturers. The lockdown restrictions announced by key countries, including China, India, and Brazil, have resulted in the closure of production processes. The scarcity of raw materials and restricted operations has dwindled the expansion of the market during coronavirus. Nevertheless, the high demand for equipment such as pyrometers, oximeter, automated ventilators, and electronic thermometers can have an excellent effect on the global market in the time of the pandemic. These devices utilize piezo materials to convert one form of energy into another. In addition, the ongoing research and development for the introduction of novel products to study coronavirus and its traits will boost the piezoelectric materials market growth. For instance, PI Ceramics developed piezoceramics that allow precise liquid handling for in-vitro diagnostics in early diagnosis and disease detection.
Get a Sample PDF Brochure:
The Report Lists the Main Companies in the Market:
- 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 (U.K.)
- Johnson Matthey (U.K.)
- Piezo Kinetics Inc. (U.S.)
- TRS Technologies, Inc. (U.S.)
Driving Factor:
High Aerospace & Defense Expenditure to Augment Growth
Various governments of emerging countries such as India, China, the U.S., Israel, and Japan are spending heavily on defense activities owing to growing security concerns. Countries are significantly investing in military devices such as missile guidance systems, drones, and radars to consolidate their armed capabilities, which, in turn, will spur opportunities for the market.
Moreover, the growing space exploration activities have resulted in the high utilization of devices such as sensors, acoustic devices, and SONARs for research on space objects and related environments. These materials play an important role in these devices because of their ability to detect the slightest of change in their range, sustain in harsh conditions, and provide accurate & consistent results. In addition, the surging space exploration activities by private space agencies such as SpaceX can have a tremendous impact on the market growth in the forthcoming years.
Segmentation:
Based on material:
- Piezoceramics
- Piezopolymers
- piezo composites
- and others.
Based on the end-use industry:
- Automotive
- Healthcare
- IT & telecom
- consumer goods
- aerospace & defense
Geographically:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East
- Africa
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/piezoelectric-materials-market-102938
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
What does the report Include?
The report incorporates an important understanding of the market, all-inclusive data about prominent players, distinguished facts and figures, latest developments, key drivers, and restraints, along with imperative information about dominant regions. Moreover, the report also provides a brief study on the COVID-19’s impact on the market.
Regional Insights:
Surging Production Capacities to Aid Expansion in Asia Pacific
The market size in Asia Pacific accounted for USD 0.89 billion in 2020 and is expected to hold the largest piezoelectric materials market share during the forecast period owing to the well-established manufacturing hub for electronics and consumer goods in China, Japan, Taiwan, India, and South Korea. Moreover, the increasing production capacities of key companies will enable expansion in the region. North America is expected to rise excellently during the forecast period due to the region's extensive space exploration programs. Europe is expected to hold a significant share owing to the booming automotive industry in the region.
Competitive Landscape:
This industry's competitive landscape portrays a very concentrated market, with a few numbers of businesses controlling the bulk of market share. To gain market share, key industry players are investing significant resources in the research and development of innovative materials and their applications.
Key Development:
June 2019: L3 Technologies, Inc. and Harris Corporation signed a merger for L3Harris Technologies, Inc. This collaboration will establish the newly founded company as an agile aerospace & defense technology innovator and deliver value-laden services to its customers.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/piezoelectric-materials-market-102938
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Piezoelectric Materials Market
-
- Supply Chain Analysis & Challenges due to COVID-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
TOC Continued…!
Speak to Our Expert:
Have a Look at Related Research Insights:
Bio-Sensors Market Size, Share and Global Trend by Technology (Thermal, Electrochemical, Piezoelectric, Optical), Application (Medical diagnostics, Food toxicity detection, Industrial process control, Environmental analysis, Agricultural testing), and Geography Forecast till 2021-2028
Fluoropolymers Market Size, Share & COVID-19 Impact Analysis, By Product (Polytetrafluoroethylene (PTFE), Polyvinylidene fluoride (PVDF), Fluorinated Ethylene Propylene (FEP), Polyvinylfluoride (PVF), and Others), By Application (Coatings, Additives, Films, and Others), By End-Use (Industrial Equipment, Automotive, Construction, Electrical & Electronics, and Others), and Regional Forecast, 2021-2028
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
