Piezoelectric Ceramics Market

Piezoelectric Ceramics Market

The global piezoelectric ceramics market is valued at USD 1.4 billion in 2023 and is projected to reach USD 1.8 billion by 2028, growing at a cagr 4.9% from 2023 to 2028. The growing demand for piezoelectric ceramics is due to growing need for high-performance sensors. Moreover, rising demand of piezoelectric energy harvesting technology and rising demand from medical sectors in emerging economies such as India, China, Brazil, and others.

Global Piezoelectric Ceramics Market Trend

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Piezoelectric Ceramics Market Dynamics

Driver: Growing need for high-performance sensors

The growing need for high-performance sensors is a major driver for the increased demand for piezoelectric ceramics. High-performance sensors are crucial in various industries and applications where accurate and reliable measurements are essential. Piezoelectric ceramics exhibit excellent sensitivity, allowing them to convert mechanical signals such as pressure, force, or vibration into electrical signals with high precision. This accuracy is vital in applications where precise measurements are required, such as industrial process control, automotive testing, medical diagnostics, and environmental monitoring.

Restraint: High cost of piezoelectric ceramics material

The high cost of piezoelectric ceramics poses a significant restraint to their widespread adoption in various industries. The production of high-quality piezoelectric ceramics involves complex manufacturing processes. These processes typically include the preparation of raw materials, mixing, shaping, sintering, and poling. Each step requires specialized equipment and expertise, which adds to the overall production cost. The raw materials used in piezoelectric ceramics, such as lead zirconate titanate (PZT), are often costly. These materials are engineered with specific compositions to exhibit the desired piezoelectric properties. The procurement and refinement of these materials can contribute significantly to the overall cost of the ceramics.

Opportunity:Emergence of Internet of Things (IoT) technology

The IoT revolution is driving the demand for sensors and actuators that enable connectivity and intelligence in various applications. Piezoelectric ceramics can provide accurate and responsive sensing capabilities for IoT devices, such as environmental monitoring, structural health monitoring, and smart home systems. The IoT is a network of interconnected devices and systems that collect, exchange, and analyze data to enable intelligent decision-making and automation. Piezoelectric ceramics play a vital role in this ecosystem due to their unique sensing capabilities and energy-harvesting potential. The IoT relies on a wide array of sensors to gather data from the physical world. Piezoelectric ceramics can convert mechanical strain, pressure, or vibrations into electrical signals, enabling accurate and responsive sensing. In the IoT ecosystem, piezoelectric sensors find applications in environmental.

Challenges: Limited raw material options

The limited material options available for piezoelectric ceramics pose a significant challenge to their widespread adoption and growth in the market. Traditionally, piezoelectric ceramics have been primarily based on lead-containing materials, such as lead zirconate titanate (PZT). However, the environmental concerns associated with lead content have led to increasing restrictions and regulations on its usage. The commercial availability and cost-effectiveness of suitable piezoelectric ceramic materials can be a limiting factor. Some high-performance materials may be difficult to procure in large quantities or may come with a high price tag, making them less accessible for widespread industrial applications. Overcoming the limited material options for piezoelectric ceramics researchers are constantly exploring new material compositions, searching for substitutes, and investigating methods to enhance the performance of existing materials.

Market Ecosystem

By type, potassium niobate is the fourth largest in piezoelectric ceramics market, in 2022.

Potassium niobate (KNbO3) is a type of piezoelectric ceramic that holds significant importance in the piezoelectric ceramics market. Potassium niobate exhibits a high piezoelectric coefficient, which means it can generate a strong electric charge in response to mechanical stress. It also has a wide operating frequency range, spanning from a few hertz to gigahertz. This property makes it ideal for various applications including medical imaging, non-destructive testing, underwater communication, and frequency control devices.

By end-use industry, automotive segment is the third largest in piezoelectric ceramics market, in 2022.

The automotive industry is one of the largest and most significant sectors for the application of piezoelectric ceramics. ADAS technologies, including collision detection, lane departure warning, and adaptive cruise control, rely on accurate sensing and actuation capabilities. Piezoelectric ceramics are employed in these systems for their ability to convert mechanical signals into electrical signals, enabling precise detection and response to environmental changes.

Asia Pacific is projected to be fastest growing amongst other regions in the piezoelectric ceramics market market, in terms of value.

Based on the region, the piezoelectric ceramics market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Currently, Asia Pacific is the fastest growing market for piezoelectric ceramics. Asia Pacific is known as a global manufacturing hub, with countries like China, Japan, South Korea, and Taiwan leading in the production of various electronic components. This region's strong manufacturing capabilities and expertise make it an ideal location for the production of piezoelectric ceramics. The presence of a well-established supply chain, skilled labor, and advanced manufacturing infrastructure contributes to the growth of the piezoelectric ceramics market in the region.

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Key Market Players

Some of the key players operating in the piezoelectric ceramics market include 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).

These companies have adopted various organic as well as inorganic growth strategies between 2018 and 2022 to strengthen their positions in the market. The new product launch is the key growth strategy adopted by these leading players to enhance regional presence and develop product portfolios to meet the growing demand for piezoelectric ceramics from emerging economies.

Piezoelectric Ceramics Market Report Scope

This report categorizes the global piezoelectric ceramics market based on type, end-use industry, and region.

On the basis of type, the piezoelectric ceramics market has been segmented as follows:

• Barium Titanate
• Potassium Niobate
• Sodium Tungstate
• Lead Zirconate Titanate (PZT)
• Others

On the basis of end use industry, the piezoelectric ceramics market has been segmented as follows:

• Consumer Electronics
• Industry & Manufacturing
• Automotive
• Medical
• Others

On the basis of region, the piezoelectric ceramics market has been segmented as follows:

• North America
• Asia Pacific
• Europe
• South America
• The Middle East & Africa

The piezoelectric ceramics market has been further analyzed based on key countries in each of these regions.

Recent Developments

• In 2021, KYOCERA Corporation announced an investment of USD  97 million to build two additional production facilities at its Kokubu plant campus in Kagoshima, Japan. The area of one factory will be 5,174 m2 and another will be 6,996 m2. This has helped the company to strengthened its geographical presence in Asia Pacific region.
• In 2021, KYOCERA Corporation started construction of a new research and development center in January 2021 at its Kokubu campus in Kirishima City, Kagoshima, Japan. Kyocera has executed a location agreement with the mayor of Kirishima City for the new R&D center, which will focus on innovations in the fields of information and communications, environmental preservation, and smart energy..
• In 2020, CeramTec GmbH (Germany) expanded its existing production capabilities to meet the rising demand for high-quality piezoelectric elements and materials. The internationally operating company with sites in Europe, the UK, the US, and Asia has invested in two additional machinery units at its Piezoceramic Centre of Excellence in Lauf, Germany, which further multiply existing high-volume manufacturing capabilities for piezoceramic components, such as discs, rings, and tubes, as well as increase automation..
• In 2023, CTS Corporation has acquired maglab AG a Switzerland-based innovator in electric vehicle sensors. This acquisition has helped the company to strengthen its product portfolio in the automotive application in the Europe region.
• In 2022, CTS Corporation has acquired Ferroperm Piezoceramics from Meggitt PLC Denmark based high-quality and innovative piezoceramic technology. This has helped the company to strengthen its geographical presence in Europe and North America.

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