Global Piezoelectric Materials Market Size, Share, Opportunities, And Trends By Material (Polymers, Ceramics, Composites, Others), By Product (Sensors, Actuators, Transducers, Motors, Generators, Others), By Industry (Consumer Electronics, Automotive, Healthcare, Aerospace and Defense, Energy and Power, Others), And By Geography - Forecasts From 2023 To 2028

The global piezoelectric materials market is projected to witness a CAGR of 8.32% to grow to US$1.254 billion by 2022, increasing from US$.0.841 billion in 2017. Increasing demand for automated manufacturing processes with increased efficiency and reduced lead time leads to an increase in the demand for actuators. This increasing demand for actuators is expected to fuel the market growth over the projected period. The growth of the consumer electronics industry and the increasing popularity of photovoltaic cells will drive the market growth for piezoelectric materials. However, the growing popularity of the substitutes like inherently conductive polymers for the manufacturing of actuators will impede market growth.

By Material

Ceramics held the largest market share in 2016, owing to the increasing demand for ceramic-based lead zirconate titanate in a wide range of applications across various industry verticals. Composites held the second-largest share in the products segment and are expected to show the highest growth rate over the forecast period due to their wide range of bandwidth and high electroacoustic efficiency

By Product

Actuators held the largest share in this segment in 2016, owing to their use in a wide range of applications, especially in the automotive industry. Generators are expected to show the highest CAGR over the forecast period owing to their ability to generate electricity using the vibrations from the system

By Industry

The Consumer Electronics industry held the largest share in this segment in 2016, owing to the use of piezoelectric materials in a wide range of advanced electronic devices. The automotive industry held the second largest share after the consumer electronics industry owing to the application of these materials in vehicles to enhance safety and convenience.

By Geography

North America accounted for the largest market share in 2016, followed by Europe, owing to the rapidly increasing use of sensors and transducers in a wide range of applications. Asia Pacific is expected to show the highest CAGR over the projected period. The highest expected CAGR in the Asia Pacific is due to the rapidly growing automotive and consumer electronics industry.

Segmentation

In the report, the global piezoelectric materials market has been segmented by material, product, industry, and geography:

• By Material

• Polymers
• Ceramics
• Composites
• Others

 

• By Product

• Sensors
• Actuators
• Transducers
• Motors
• Generators
• Others

 

• By Industry

• Consumer Electronics
• Automotive
• Healthcare
• Aerospace and Defense
• Energy and Power
• Others

 

• By Geography

• North America
• South America
• Europe
• Middle East and Africa (MEA)
• Asia Pacific (APAC)