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2024

Piezoelectric Composites Material Market

Piezoelectric Composites Material Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2033

MC : Composites

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Author's: Vinit Rathod | Eswara Prasad
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Piezoelectric Composites Material Market Research, 2033

The global piezoelectric composites material market was valued at $1.5 billion in 2023, and is projected to reach $2.4 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033.

Piezoelectric Composites Material Market

Market Introduction and Definition

Composites piezoelectric materials are advanced materials that combine piezoelectric elements with other substances to enhance their mechanical and electrical properties. Piezoelectric materials generate an electrical charge in response to applied mechanical stress, and when combined with various matrices, such as polymers or ceramics, they can be engineered to optimize performance for specific applications. These composites leverage the piezoelectric effect to convert mechanical energy into electrical energy, or vice versa, that make them valuable in applications such as sensors, actuators, and energy harvesting devices.

Key Takeaways

  • The composites piezoelectric material market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.

  • More than 1,500 product literatures, industry releases, annual reports, and other such documents of major composites piezoelectric material industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.

  • The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.

Key Market Dynamics

Smart sensors and actuators are essential components in modern technologies, enabling devices to interact intelligently with their environments. These components rely heavily on the unique properties of piezoelectric materials, which convert mechanical energy into electrical signals and vice versa. This capability is crucial for applications requiring precise control and monitoring, such as in industrial automation, consumer electronics, automotive systems, and healthcare devices. In industrial automation, smart sensors equipped with piezoelectric materials detect and respond to changes in pressure, vibration, and force, leading to improved efficiency and safety in manufacturing processes. Actuators using piezoelectric composites provide precise movements and adjustments in response to electrical signals, that make them ideal for robotic systems and precision machinery. The consumer electronics sector also benefits from the use of piezoelectric materials in smart sensors and actuators. Devices such as smartphones, tablets, and wearable technology increasingly incorporate these components to enhance user experience through features such as haptic feedback, touch sensitivity, and vibration alerts. All these factors are expected to drive the composites piezoelectric material market growth.

However, the manufacturing process of piezoelectric composites involves complex and labor intensive procedures, such as precise control over material composition, layering, and curing. These processes require advanced equipment and specialized skills, leading to increased production expenses. The high costs associated with these manufacturing processes make it challenging for companies to scale up production and achieve economies of scale, thereby limiting market growth. All these factors are expected to hamper the composites piezoelectric material market growth.

The rising demand for high-performance sensors and actuators presents significant opportunities for the composites piezoelectric material market. High-performance sensors and actuators are crucial in various advanced technological applications, requiring materials that deliver superior performance, sensitivity, and reliability. Piezoelectric composites, with their ability to convert mechanical energy into electrical energy and vice versa, are well-suited for these high-performance applications. In the industrial sector, high-performance sensors are essential for monitoring and controlling processes with high precision. Piezoelectric composites are increasingly used in these sensors due to their high sensitivity and responsiveness. They can detect minute changes in pressure, force, and vibration, enabling more accurate and efficient industrial operations. This trend is driving the demand for advanced piezoelectric materials that enhance the performance of industrial sensors and actuators. All these factors are anticipated to offer new growth opportunities for the composites piezoelectric material market throughout the forecast period.

Market Segmentation

The composites piezoelectric material market is segmented into material type, application, and region. By material type, the market is classified into ceramic, polymer, and others. By application, the market is categorized into actuators, sensors, transducers, and others. Region-wise the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Regional Market Outlook

Rapid industrialization and urbanization occurring in countries such as China, India, Japan, and South Korea. These nations are heavily investing in infrastructure development, smart cities, and advanced manufacturing facilities, creating a significant demand for piezoelectric materials in various applications, such as sensors, actuators, and energy harvesting devices. The growth of the automotive and aerospace industries in the region also plays a crucial role, as these sectors increasingly utilize piezoelectric materials for their lightweight, durability, and energy-efficient properties. China is Asia's leading user of piezoelectric materials due to the rapid growth in the manufacture of heavy commercial vehicles and passenger cars in the automotive industry. According to the International Trade Administration, China holds the position as the largest vehicle market globally. The Chinese government has projected that car production in the country will reach 30 million units by 2020 and increase to 35 million units by 2025.

Competitive Landscape

The major players operating in the composites piezoelectric material market include Murata Manufacturing Co., Ltd, TDK Electronics AG, KYOCERA Corporation, CTS Corporation, APC International, Ltd, Sparkler Ceramics Pvt. Ltd., Piezo Technologies, CTS Corporation, CeramTec GmbH, KUREHA CORPORATION, Arkema S.A., and others. In April 2021, the SUPERSMART European project, funded by the European Institute of Innovation and Technology (EIT) and coordinated by Arkema along with 10 partners, has received the 2021 Organic Electronics Association Award for the Best Publicly Funded Project Demonstrator. This project marks a significant advancement in transitioning the emerging technology of paper-printed organic electronics to the industrial phase.

Domestic Production of Electronics in India (%) in 2022

Piezoelectric Composites Material Market by

The composites piezoelectric material market is significantly influenced by various electronic sectors, with mobile phones representing the largest share at 43.0%. This high percentage underscores the critical role of piezoelectric materials in enhancing the functionality and performance of mobile devices, such as touch screens, microphones, and haptic feedback systems. Consumer electronics and industrial electronics, each accounting for 12.0%, also drive substantial demand, as these sectors increasingly integrate smart sensors and actuators to improve product capabilities. Auto electronics, comprising 8.0%, reflect the growing use of piezoelectric materials in advanced automotive systems such as airbag sensors, tire pressure monitoring, and engine management systems. The 11.0% share of electronic components highlights the broader applications in various electronic devices, enhancing their precision and responsiveness. Although wearables and hearables hold a smaller market share at 0.3%, their rapid growth and the need for miniaturized, high-performance components contribute to the overall demand. Strategic electronics, IT hardware, PCBA, and LED lighting, though smaller segments, collectively add to the robust demand for composites piezoelectric materials by driving innovation and application in their respective fields.

Industry Trends

  • India excels in design and R&D for auto electronics and industrial sectors, and as the second-largest global manufacturer of mobile phones, it is expected to become the fifth-largest consumer of electronic products by 2025. This growing expertise and market position will notably boost the demand for composites piezoelectric materials. This growth is fueled by the increasing integration of smart sensors and actuators in electronic devices and industrial applications.

  • The global EV market was estimated at approximately $ 250 billion in 2021 and by 2028, it is projected to grow by 5 times to $1,318 billion, is expected to greatly enhance the demand for composites piezoelectric materials.

Key Sources Referred

  1. Invest India

  2. International Renewable Energy Agency (IREA)

  3. International Energy Agency (IEA)

  4. India Brand Equity Foundation (IBEF)

  5. The American Society of Mechanical Engineers

  6. Materials Research Forum

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the piezoelectric composites material market analysis from 2024 to 2033 to identify the prevailing piezoelectric composites material 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 piezoelectric composites material 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 piezoelectric composites material market trends, key players, market segments, application areas, and market growth strategies.

Piezoelectric Composites Material Market Report Highlights

Aspects Details
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Market Size By 2033

USD 2.4 Billion

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Growth Rate

CAGR of 4.7%

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Forecast period

2024 - 2033

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Report Pages

340

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By Material Type
  • Ceramic
  • Polymer
  • Others
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By Application
  • Actuators
  • Sensors
  • Transducers
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

CeramTec GmbH, Piezo Technologies, CTS Corporation (UK), TDK Electronics AG, Murata Manufacturing Co., Ltd, CTS Corporation, Sparkler Ceramics Pvt. Ltd., KYOCERA Corporation, KUREHA CORPORATION, APC International, Ltd

Author Name(s) : Vinit Rathod | Eswara Prasad
Frequently Asked Questions?

Increasing demand for smart sensors and actuators, advancements in material science and nanotechnology are the upcoming trends of Piezoelectric Composites Material Market in the world.

Sensors is the leading application of Piezoelectric Composites Material Market

Asia-Pacific is the largest regional market for Piezoelectric Composites Material

$2.4 billion is the estimated industry size of Piezoelectric Composites Material by 2033.

Murata Manufacturing Co., Ltd, TDK Electronics AG, KYOCERA Corporation, CTS Corporation, APC International, Ltd, Sparkler Ceramics Pvt. Ltd., Piezo Technologies, CTS Corporation, CeramTec GmbH, KUREHA CORPORATION, Arkema S.A. are the top companies to hold the market share in Piezoelectric Composites Material

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Piezoelectric Composites Material Market

Global Opportunity Analysis and Industry Forecast, 2024-2033