Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Piezoelectric Ceramics Market by Type (Barium Titanate, Potassium Niobate, Sodium Tungstate, Lead Zirconate Titanate), End User (Consumer Electronics, Industry & Manufacturing, Automotive, Medical), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for piezoelectric ceramics is set to experience substantial growth, with a projected CAGR of 4.9%, reaching a value of USD 1.8 billion by 2028 from USD 1.4 billion in 2023.
The increasing demand for piezoelectric ceramics in emerging markets is attributed to the growing need for high-performance sensors and the rising popularity of piezoelectric energy harvesting technology. Moreover, the surge in demand from the medical sector in emerging countries, including Asia Pacific, South America, and Middle East & Africa, is further propelling the market.
As a class of materials with unique properties, piezoelectric ceramics play an indispensable role in various industries, including automotive, healthcare, consumer electronics, and industrial sectors.
Their ability to generate an electric charge under mechanical stress and deform when subjected to an electric field enables their use in sensors, actuators, transducers, and acoustic devices, contributing to advancements in multiple fields such as ultrasound imaging, medical diagnostics, energy harvesting, and vibration sensing.
As the industry focuses on eco-friendly and cost-effective solutions, the development of lead-free alternatives to address environmental concerns is a key area of research and development. To thrive in this competitive landscape, industry players must stay attentive to evolving market demands and leverage innovative approaches to meet the diverse needs of various end-use industries.
Barium Titanate second largest in the in terms of value amongst other types in the piezoelectric ceramics market, in 2022.
Barium titanate (BaTiO3) is considered the second largest material in the piezoelectric ceramic market after lead zirconate titanate (PZT). Barium titanate offers a lead-free alternative to traditional piezoelectric materials like PZT.
With increasing environmental concerns and regulations regarding the use of lead-based materials, the demand for lead-free piezoelectric ceramics has grown. Barium titanate, being lead-free, provides a viable option for manufacturers and end-users who prioritize environmental sustainability.
Europe is the second largest in the piezoelectric ceramics market in 2022.
Europe is the second largest region amongst others in the piezoelectric ceramics market in 2022, in terms of value. Europe has stringent environmental regulations, including restrictions on the use of hazardous substances such as lead.
This has driven the demand for lead-free alternatives in various industries, including piezoelectric ceramics. Europe's emphasis on environmental sustainability promotes the adoption of environmentally friendly piezoelectric ceramics, which aligns with the global trend towards lead-free materials.
Competitive landscape
The key players in the piezoelectric ceramics market KYOCERA Corporation (Japan), CeramTec GmbH (Germany), CTS Corporation (US), Murata Manufacturing Co., Ltd (Japan), TDK Corporation (Japan), Physik Instrumente (PI) GmbH & Co. (Germany), APC International, Ltd (US), L3Harris Technologies, Inc (US), HOERBIGER Motion Control GmbH (Germany), and Piezo Technologies (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 201 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.4 Billion |
| Forecasted Market Value (USD) by 2028 | $1.8 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Premium Insights
- Asia-Pacific to Offer Attractive Opportunities in Piezoelectric Ceramics Market During Forecast Period
- Barium Titanate Segment to Lead Market During Forecast Period
- Industry & Manufacturing End-Use Industry to Lead Market
- Indian Market to Grow at Highest CAGR
Market Dynamics
Drivers
- Rising Demand for Piezoelectric Energy Harvesting Technology
- Rising Demand from Medical Industry
- Growing Need for High-Performance Sensors
Restraints
- High Cost of Piezoelectric Ceramics Material
- Stringent Government Policies Mandating Use of Lead-Free Piezoelectric Materials
Opportunities
- Emergence of IoT Technology
- Rapid Innovations in Automotive Sector
Challenges
- Limited Raw Material Options
Value Chain Analysis
- Raw Material Suppliers
- Manufacturers
- Distributors
- End-Use Industries
Technology Analysis
- New Technologies: Piezoelectric Ceramics
Raw Material Analysis
- Lead Zirconate Titanate
- Barium Titanate
- Potassium Niobate
Case Study Analysis
- Medical Ultrasound Imaging by Cts Corporation
- Tdk Corporation's Piezoelectric Sensors and Actuators
Company Profiles
Key Players
- Kyocera Corporation
- Ceramtec GmbH
- Cts Corporation
- Murata Manufacturing Co., Ltd
- Tdk Corporation
- Physik Instrumente (Pi) GmbH & Co.
- Apc International, Ltd.
- L3Harris Technologies, Inc.
- Hoerbiger Motion Control GmbH
- Piezo Technologies
Other Players
- Taiyo Yuden Co., Ltd
- Boston Piezo-Optics Inc.
- Trs Technologies, Inc.
- Piezo Kinetics, Inc.
- Siansonic
- Sensortech Canada
- Omega Piezo Technologies
- Sparkler Ceramics Pvt. Ltd.
- Central Electronics Limited
- Ebl Products, Inc.
- Del Piezo Specialties LLC
- Niterra Co., Ltd.
- Piezo Direct
- Kunshan Risheng Electronic Co., Ltd.
- Zibo Yuhai Electronic Ceramics Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/bm1koi
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