PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1309764
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1309764
The global piezoelectric ceramics market size is projected to reach USD 1.8 billion by 2028 from USD 1.4 billion in 2023, at a CAGR of 4.9% during the forecast period. The ever-increasing demand for piezoelectric ceramics in emerging markets owing to rising demand of piezoelectric energy harvesting technology and growing need for high-performance sensors. Additionally, the demand for piezoelectric ceramics in emerging countries such as Asia Pacific, South America, and Middle East & Africa, is increasing due to the rising demand from medical sectors that increases the demand for advanced medical diagnostics, therapies, and personalized healthcare has fueled the piezoelectric ceramics market during the forecast period.
"Barium Titanate second largest in the in terms of value amongst other types in the piezoelectric ceramics market, in 2022."
Barium titanate (BaTiO3) is considered the second largest material in the piezoelectric ceramic market after lead zirconate titanate (PZT). Barium titanate offers a lead-free alternative to traditional piezoelectric materials like PZT. With increasing environmental concerns and regulations regarding the use of lead-based materials, the demand for lead-free piezoelectric ceramics has grown. Barium titanate, being lead-free, provides a viable option for manufacturers and end-users who prioritize environmental sustainability.
"Europe is the second largest in the piezoelectric ceramics market in 2022."
Europe is the second largest region amongst others in the piezoelectric ceramics market in 2022, in terms of value. Europe has stringent environmental regulations, including restrictions on the use of hazardous substances such as lead. This has driven the demand for lead-free alternatives in various industries, including piezoelectric ceramics. Europe's emphasis on environmental sustainability promotes the adoption of environmentally friendly piezoelectric ceramics, which aligns with the global trend towards lead-free materials..
Extensive primary interviews were conducted in the process of determining and verifying the sizes of several segments and subsegments of the piezoelectric ceramics market gathered through secondary research.
The breakdown of primary interviews has been given below.
The key players in the piezoelectric ceramics market 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). The piezoelectric ceramics market report analyzes the key growth strategies, such as new product launches, investments & expansions, agreements, partnerships, and mergers & acquisitions to strengthen their market positions.
Research Coverage
This report provides detailed segmentation of the piezoelectric ceramics market and forecasts its market size until 2028. The market has been segmented based on type (barium titanate, potassium niobate, sodium tungstate, lead zirconate titanate (PZT) and others), end-use industry (consumer electronics, industry & manufacturing, automotive, medical, and others), and by region (North America, Europe, Asia Pacific, Middle East & Africa, and South America). A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for piezoelectric ceramics market.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the piezoelectric ceramics market; high-growth regions; and market drivers, restraints, opportunities, and challenges.