Piezoelectric Materials Market Size, Share & Industry Analysis, By Material (Piezoceramics [Lead Zirconate Titanate {PZT} and Lead-free Ceramics], Piezopolymers, Piezocomposites, and Others), By Application (Actuators, Motors, Transducers, Sensors, SONAR, Generators & Transformers, Acoustic Devices, Resonators, and Others), By End-Use Industry (Automotive, Healthcare, IT & Telecom, Consumer Goods, Aerospace & Defense, and Others), and Regional Forecast, 2024-2032

The global piezoelectric materials market size was USD 1.45 billion in 2023 and is projected to grow from USD 1.52 billion in 2024 to USD 2.19 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period 2024-2032. The piezoelectric materials market in the U.S. is projected to grow significantly, reaching an estimated value of USD 248.48 billion by 2032, driven by the growing production of electronics in the country along with excellent development of the IT & Telecom sector.

Piezoelectricity is a property displayed by some materials wherein the material generates an electric field when a force is applied. On the other hand, when an electric field is applied across the material, it shows deformation in its dimensions. In other words, these materials convert mechanical energy to electrical energy and vice versa. Due to this property, they are commonly referred to as transducers. These materials use piezoelectricity to measure changes in speed, stress, strain, heat, or force by converting the differential in energy into electrical charge. Based on this effect, these materials find application in producing and detecting sound and frequency, ignition devices, SONAR, and pressure & displacement measurement systems.

Nowadays, piezoelectric devices employ a wide variety of materials such as quartz crystal, Rochelle salt, ceramics, polymers, macro-fiber composites, ferroelectrets, and flexoelectric materials. The selection of material for different applications is based on properties such as consistency, stability, high input-to-output ratio, malleability, and heat & humidity resistance. Primarily quartz crystals were employed in piezoelectric devices. Still, its inability to react at low voltages and function at temperatures above 300ᵒ C obligated its replacement by modern materials such as piezoceramics and piezo composites.

Crucial end-use industries such as the electronics and automotive sectors faced restricted operations and shutdowns, which critically impacted the demand for piezoelectric materials. However, COVID-19 presented a spike in demand for equipment such as pyrometers, oximeters, automated ventilators, and electronic thermometers. These devices utilize piezo materials to convert one form of energy to another and thus demand these materials during a crisis.

Furthermore, companies operating in the market have modified their production plants to accommodate the growing demand from the healthcare industry. They also have developed novel products in combination with healthcare electronics manufacturers to study coronavirus and its traits. For instance, PI Ceramics developed piezoceramics that enable precise liquid handling for in-vitro diagnostics for early diagnosis and disease detection.

Piezoelectric Materials Market Trends

Development of Lead-Free Piezoceramics to Stimulate Development

While lead zirconate titanate (PZT) is the largest used piezoceramic material, its usage is constrained due to the presence of lead in the compound, which subjects PZT to the regulations such as Restrictions of Hazardous Substances (RoHS) Directive 2002/95/EC adopted by EU. Therefore, the development of lead-free piezoceramics is a large, ongoing research area. Lead-free piezoceramics consist of three main compositional families, titanate-based ceramics, alkaline niobate perovskite-based ceramics, and bismuth perovskite-based ceramics. Furthermore, polymers showing piezoelectric properties, including polyvinylidene fluoride (PVDF) and polysulfone, are under study to provide compliant piezoelectric materials. As lead is considered to be poisonous to humans, such research on the replacement of lead-based ceramics is expected to gain momentum in the near future further and alter the course of the market towards further growth.

GROWTH FACTORS

Increasing Automation in End-Use Industries to Boost Market Growth

End-use industries such as automotive and electronic manufacturing have pushed for automation in their manufacturing lines. This push has increased the demand for devices such as sensors, transducers, actuators, and motors to run the production line smoothly. As these devices use properties endowed by the piezoelectric materials to measure various quantities such as acceleration, pressure, strain, and acoustic intensity, the demand for such materials is projected to expand considerably with the increasing dependence of industries on automation.

Over the years, major manufacturing companies have expanded their investment in introducing automation systems as an effective method to minimize running costs during development. The growing importance of automation in manufacturing industries to improve productivity and minimize lead time is projected to encourage the use of sensors, transducers, actuators, and motors. This is anticipated to boost the demand for piezoelectric materials during the forecast period.

Increasing Spending on Aerospace & Defense to Spur Demand

In recent years, governments of countries such as India, China, the U.S., Israel, and Japan have significantly increased their budget on defense activities. These governments invest heavily in building missile guidance systems, drones, and radars to strengthen their armed forces’ capabilities.  Furthermore, an increase in space exploration activities has led to an increase in the usage of devices such as sensors, acoustic devices, and SONARs to study space objects and related environments. These devices require special piezoelectric materials that can detect the slightest change in their range, sustain in harsh conditions, and provide accurate & consistent results. With private space agencies such as SpaceX taking a jump into providing space exploration services, the demand for such materials is further expected to inflate the global piezoelectric materials market growth during the forecast period.

The demand for military equipment is on the rise as governments across the globe are focused on military modernization amid rising global security issues. The uncertainty and continuing ambiguity of the current international security climate are expected to increase current defense investment over the next five years.

The global commercial space market is expected to witness steady investment in new and current space technology and facilities, with financing coming mainly from governments and venture capital. Sales in the commercial space industry come mainly from the production of satellites used for Earth observation and communications and from launch vehicles used to position these payloads in orbit.

RESTRAINING FACTORS

Lack of Differentiation between Signals and Noise to Diminish the Adoption of Piezoelectric Materials

While piezo materials find extensive application in sensing and energy conversion devices, common materials such as PZT and natural piezo crystals are unable to differentiate between actual signals and noise present in the system, which may result in an inaccurate outcome, affecting the performance of the device wherein the piezoelectric material is employed. Furthermore, when subjected to harsh environments such as high temperature and heavy stress, the consistency of results provided by the material is severely affected, further restricting its adoption for application in such conditions.

Piezoelectric Materials Market Segmentation Analysis

By Material Analysis

Piezoceramics Material Segment to Hold Dominant Share in the Market

Based on material, the market is classified into piezoceramics, piezopolymers, piezo composites, and others. Piezoceramics are further bifurcated into lead zirconate titanate (PZT) and lead-free ceramics. Piezoceramics are expected to hold the dominant share in the market on account of the large consumption of PZT for the manufacturing of transducers and actuators as the performance of PZT can be easily modified based on the usage of doping materials. While doping with niobium produces soft-PZT, which increases its response capabilities, doping with iron forms hard-PZT, which shows more negligible hysteresis in the piezoelectric response. Such adaptability of piezoceramic materials has resulted in its large-scale consumption from the electronics and automotive industry.

On the other hand, piezo composites are swiftly gaining market share as they are preferable for application in ultrasonic equipment, non-destructive testing, and underwater acoustics. Composites offer smaller acoustic impedance than piezoceramics, are more plastic, and can better adapt to mechanical loads. They possess better piezoelectric sensitivity and electromechanical activity and thus are considered to be effective alternatives to piezoceramics.

By Application Analysis

Sensors Segment to Grow with Highest CAGR during the Forecast Period

In terms of application, the market is segmented into actuators, motors, transducers, sensors, SONAR, generators & transformers, acoustic devices, resonators, and others. The sensors segment is expected to grow at a considerable CAGR owing to its application in various fields, including automatic vehicles, manufacturing lines, and consumer electronics. Sensors detect the change in energy and convert the difference into electrical signals, which are used to make necessary changes in the system. For instance, the TV's remote control has a pressure sensor, which detects the pressure on a button and converts it into an electrical signal that activates the IR blaster present on the remote. Inside the television unit, the IR sensor detects the change in energy and converts it into a digital signal, provisioning control of the unit.

On the other hand, an actuator converts electrical signals sent by the system or user into mechanical energy to control the designated part to perform a certain action in the manufacturing line. Thus, the actuators segment is expected to account for the largest piezoelectric materials market share in the global market with its application ranging from precision control of industrial machining tools, vehicle acceleration & braking systems, and robotic arms used in various end-use industries.

By End-Use Industry Analysis

Consumer Goods to Account for Largest Share in the Global Market

Based on the end-use industry, the market is segmented into automotive, healthcare, IT & telecom, consumer goods, aerospace & defense, and others. Consumer goods such as TVs, washing machines, remote-controlled toys, and microwaves utilize piezo materials to provide control and working of these products. With the large-scale consumption of such consumer goods expected with improving consumer spending capacity in emerging economies, this market segment is expected to maintain its lead in the global market.

The automotive industry is trailing the consumer goods industry and is projected to grow at a stable CAGR during the forecast period owing to the requisition of these materials for actuators, fuel injectors, sensors, and braking systems present in the automobile. Furthermore, fuel atomizers, seat belt buzzers, airbag sensors, and tire pressure sensors are a few major automotive parts wherein these materials find application, thus resulting in the automotive industry holding a considerable share in the global market.

REGIONAL INSIGHTS

Asia Pacific dominated the piezoelectric materials market size stood at USD 0.99 billion with a market share of 68.28% in 2023. Asia Pacific has emerged as a manufacturing hub for electronics and consumer goods, with China, Japan, Taiwan, India, and South Korea focusing on expanding their production capabilities. Governments of countries in the Asia Pacific are providing tax rebates and incentives to the electronics manufacturers setting up newer production plants in the region after the slowdown caused by COVID-19 and thus shall further expand the market size during the forecast period. North America shall provide growth opportunities for the market with the U.S. planning extensive space exploration programs, wherein piezoelectric materials will be utilized in sensing objects in space and remote access of the spacecraft components. The automotive sector in Europe is expected to rejuvenate after the slowdown caused by the coronavirus pandemic. Studies regarding driverless, automated cars shall also expand in the region, providing a boost to the market.

While the market in Latin America is still in its infancy, the growing presence of end-use industries, especially IT & telecom, in the region shall result in the expansion of the market. On the other hand, Middle East & Africa have observed an increasing demand for piezo materials due to the region's expanding healthcare and electronics industry.

List of Key Companies in Piezoelectric Materials Market

Focus on Product Development by Key Players to Maintain Strong Stance in the Industry

The competitive landscape of this market depicts a fairly consolidated market with a handful of manufacturing companies accounting for a majority share in the market. Key players in the market are investing a large number of resources in the research and development of novel materials and their applications as a course-way to gain market share.

Furthermore, key players operating in the market have adopted the strategy of capacity expansion and acquisition of smaller enterprises to improve their offering portfolio and services. This trend is projected to positively impact the global market during the forecast period.

LIST OF KEY COMPANIES PROFILED:

• 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.)


• Meggitt PLC (U.K.)


• Johnson Matthey (U.K.)


• Piezo Kinetics Inc. (U.S.)


• TRS Technologies, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2020: CTS Corporation announced the expansion of its product portfolio by introducing four crystal families for application in automotive-grade crystal resonators. The newly developed products shall find application in automotive, industrial, medical, and aerospace & defense industries wherein a wide range of operating temperatures is present and provide the company with excellent growth opportunities in the near future.


• July 2019 – PI Ceramic GmbH announced the expansion of its production facility present in Lederhose, Thuringia. The expansion shall increase the facility’s area from 12,000 sq.m. to 19,500 sq.m. The additional area is to have an additional line for the production of multilayer piezoelectric materials and an administrative center.

REPORT COVERAGE

The global piezoelectric materials market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, end-use industries, and leading applications of these materials. Besides this, the research report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth rate of the market over recent years. 

Report Scope & Segmentation