Wilmington, Delaware, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Piezoceramic Spheres Market by Material Type, Application, and Outer Diameter: Global Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, the global piezoceramic spheres industry was estimated at $208.1 million in 2022, and is anticipated to hit $412.9 million by 2032, registering a CAGR of 7.1% from 2023 to 2032.
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- 146 - Tables
- 48 - Charts
- 278 - Pages
A piezoceramic sphere refers to a spherical or circular-shaped piezoelectric ceramic used in various applications, including ultrasound technology, data communication, sonar, and industrial automation. In the field of piezoelectricity, or the piezoelectric effect, specific materials exhibit an alternating electrical charge when subjected to stress or vibrations. Conversely, these materials will vibrate or experience stress when exposed to AC voltage. Examples of such materials include quartz, certain ceramics, Rochelle salts, and the piezoceramic sphere itself.
Drivers, Restraints, and Opportunities
The global piezoceramic spheres market is experiencing growth due to factors such as high piezoelectric activity and permittivity and ease of fabricating piezoceramic spheres of various sizes, shapes, and requirement. However, low curie temperature of piezoelectric ceramics restrains the market growth to some extent. Nevertheless, adoption of piezoceramic spheres for various applications is expected to offer prolific growth opportunities in the upcoming years.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023–2031 |
| Base Year | 2022 |
| Market Size in 2022 | $208.1 million |
| Market Size in 2031 | $412.9 million |
| CAGR | 7.1% |
| No. of Pages in Report | 278 |
| Segments Covered | Material Type, Application, Outer Diameter, and Region |
| Drivers | High piezoelectric activity and high permittivity |
| Ease of fabricating piezoceramic spheres of various sizes, shapes, and requirement | |
| Restraints | Piezoelectric ceramics have low Curie temperature |
| Opportunities | Industry automation adopting piezoceramic spheres for various applications |
COVID-19 Scenario:
- Key players in the global piezoceramic sphere market have shifted toward agile supply chain model with multiple pathways to prevent a single point of failure. This is expected to help them balance costs with better assurance for business continuity & sustainability
- In the post covid-19 scenario, piezoceramic spheres are extensively required in ultrasonic technology, data communication, and underwater devices. Firms have gained a competitive edge by following quality management standards and by providing standardized products & services.
PZT (Lead-Zirconate-Titanate) segment to retain its dominance by 2032
By material type, the PZT (Lead-Zirconate-Titanate) segment garnered the major share in 2022 accounted for nearly 90% and is estimated to rule the roost during forecast period. This demand is attributed to the advantages of PZT (Lead-Zirconate-Titanate) including thermal stability and excellent dielectric properties. Additionally, the ability of PZT to enable functioning of piezoceramic spheres in data communication applications along with ultrasonic technology and underwater sonar is further contributing to the high growth rate of PZT (Lead-Zirconate-Titanate). The others segment, on the other hand, would cite the fastest CAGR of 10.6% from 2023 to 2032.
The Underwater Devices segment to rule the roost
By application, the underwater devices segment held the highest share in 2022, generating around two-fifths of the global piezoceramic sphere industry revenue and is projected to rule the roost throughout the forecast timeframe. The same segment would cite the fastest CAGR of 8.4% from 2023 to 2032. The surge in underwater research and underwater applications in different industries such as IT and telecommunication, and energy and mining are propelling growth of the segment.
The 2mm – 35mm segment to dominate till 2032
By outer diameter, the 2mm-35mm segment garnered major share in 2022 accounting for more than three-fifths of the global market revenue in 2022 and is projected to rule the roost till 2032. The same segment would also portray the fastest CAGR of 7.6% from 2023 to 2032. The growth is attributed to its suitability for wider industrial applications including medical imaging, underwater sonar systems, etc. Additionally, applications such as energy harvesting, manufacturing and material testing require powerful and large piezoceramic spheres to achieve operational efficiency.
North America garnered the major share in 2022
By region, North America generated nearly one-third of the global market revenue in 2022 and is estimated to rule the roost during forecast period. The continuous technological advancements along with growing emphasis on renewable energy and energy harvesting across the Asia Pacific region is contributing to the high demand for piezoceramic spheres. Asia-Pacific, however, would showcase the fastest CAGR of 8.4% from 2023 to 2032. The high growth rate of the region’s economies is expected to be a major driver of the market, as well as their increasing focus on research and development.
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Key Players in the Industry:
- Physik Instrumente L.P.
- ELPA Company, CTS Corporation,
- Sparkler Ceramics Pvt. Ltd.
- Hubei Hannas Tech Co. Ltd.
- Weifang Jude Electronic Co.,Ltd.
- Beijing Quanxin
- Ultrasonic Co. Ltd.
- Wuxi MQ Ultrasonic Electrics Co., Ltd.
- Zibo Yuhai Electronic Ceramic Co., Ltd.
- Annon
- Piezo Technology Co. Ltd.
The report analyzes these key players in the global piezoceramic spheres market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the piezoceramic spheres market analysis from 2022 to 2032 to identify the prevailing piezoceramic spheres market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the piezoceramic spheres market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global piezoceramic spheres market trends, key players, market segments, application areas, and market growth strategies.
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