Piezoelectric Ceramic Market Forecasts from 2023 to 2028

The global piezoelectric ceramic market was valued at US$1.267 billion in 2021.

The piezoelectric ceramic market is anticipated to grow steadily during the forecast period. Piezoelectric ceramics are highly versatile smart materials widely employed in mechatronic devices and smart systems. They possess the unique ability to convert mechanical energy into electrical energy and vice versa, by sensing changes in pressure. This exceptional property enables them to act as both sensors and actuators in various applications. They are broadly classified into three types lead zirconate titanate (PZ2), barium titanate (BT), and strontium titanate (ST). The rise in demand for electronic devices and the expansion of the healthcare sector are driving the growth of the piezoelectric ceramic market industry.

Increasing electronics demand is driving the piezoelectric ceramic market growth.

Piezoelectric ceramics find widespread utilization across a diverse range of applications within electronic devices, including touchscreens, actuators, and sensors. The surge in consumer demand for smartphones, wearables, tablets, and other consumer electronic devices has emerged as a significant catalyst for the expansion of the piezoelectric ceramic market. As per the reports of the Press Information Bureau, the percentage share of imported electronic components of India concerning the total electronic electronics import has experienced positive growth, rising from 30% in 2019-20 to 35% in 2021-22. This shift signifies a favorable transformation in the landscape of domestic electronics manufacturing.

Increasing demand in the healthcare sector bolsters the piezoelectric ceramics industry growth.

Ultrasound imaging devices rely heavily on piezoelectric ceramics for their exceptional ability to convert electrical energy into mechanical vibrations. As the healthcare sector continues to evolve, the demand for advanced medical technologies and devices having higher resolution imaging and precise diagnostic capabilities also tends to increase thereby propelling the growth of the piezoelectric ceramics market. The Centers for Medicare & Medicaid Services (CMS) reported that hospital expenditures in the United States reached $1,323.9 billion in 2021, reflecting a growth rate of 4.4%. This represents a slower pace of growth compared to the 6.2% increase observed in 2020.

Rising information and communication technology sector.

Information and Communication Technology (ICT) is one of the major end-users of piezoelectric ceramics. The increasing reliance on ICT in various industries drives the demand for piezoelectric ceramics used in electronic devices, sensors, actuators, and communication systems. According to the State Council Information Office, in 2022, the telecommunications industry in China demonstrated consistent growth, driven by the rapid development of emerging businesses and new infrastructure. Official data indicates that the sector recorded a robust 8 % year-on-year increase, with total revenue generated by companies surpassing 1.58 trillion yuan (equivalent to approximately 233.38 billion U.S. dollars).

Asia-Pacific is expected to dominate the piezoelectric ceramics market

Asia-Pacific region's strong presence in electronics manufacturing, healthcare, and consumer goods industries contributes to its dominance in the piezoelectric ceramics industry. According to the Census and Economic Information Centre, the electronic equipment data for March 2023 in Japan indicates a notable increase, reaching 1,039.559 JPY billion, compared to the previously recorded figure of 860.638 JPY billion in February 2023. This positive growth highlights a significant upward trend in the demand for electronic equipment. As per the report of the Press Information Bureau, the domestic production of electronic goods in India has witnessed a remarkable surge, rising significantly from INR 3,17,331 crore in the year 2016-17 to INR6,40,810 crore in the year 2021-22.

Structural complexity will restrain the piezoelectric ceramics market growth.

The expansion of piezoelectric ceramics market size is being restrained by the inherent fragility and brittle nature of these materials, as well as the limitations in size. The susceptibility of piezoelectric ceramics to cracking and failure under mechanical stress restricts their use in applications that operate in harsh conditions. Moreover, the size limitations of piezoelectric ceramics present obstacles in certain applications. The manufacturing process for producing defect-free ceramics becomes increasingly difficult as the size increases. Large, uniform, and high-quality piezoelectric ceramics are harder to achieve, impacting their suitability for applications requiring larger dimensions or custom-shaped elements.

Key Developments

• June 2022: CTS Corporation successfully acquired the Ferroperm Piezoceramics from Meggitt PLC (in a cash transaction valued at 525 million Danish Krone. This strategic acquisition strengthens CTS Corporation's position in the piezoelectric ceramics market and expands its portfolio of advanced materials and solutions. The completion of this acquisition marks an important milestone in CTS Corporation's growth strategy.

Company Products

• PIC151: Piezo Technologies offers a remarkable product that showcases a range of desirable characteristics. Notably, it possesses a high permittivity, signifying its exceptional capacity to store electrical energy when exposed to an electric field. Additionally, the product boasts a substantial coupling factor, highlighting its remarkable efficiency in converting electrical energy into mechanical vibrations and vice versa
• High-Temperature Piezoelectric Ceramics: TRS technologies offer this product line which is cost-effective and energy-efficient solutions that maintain temperature stability even in demanding environments. It caters to various industries, including oil well logging, automotive sensors, and aerospace and power plant engines. These applications require reliable performance in the face of challenging conditions.
• Rings: Piezo Kinetics "Rings" are designed with an outer and inner diameter, and electrodes are applied to both of their flat surfaces. These electrodes are strategically positioned to ensure the polarity runs through the thickness of the part.
• Piezoelectric ceramic element: Honda Electronics CO.LTD. presents a diverse product lineup that encompasses various types of piezoelectric ceramic elements. This includes electrode-shaped piezoelectric ceramic elements, disc-shaped piezoelectric ceramics, and rectangle-shaped piezoelectric ceramics. Each of these product variations caters to different application requirements and offers unique advantages in terms of shape and functionality
• High-performance PMN-PT Piezoelectric single crystal: This provided by TRS technologies offers outstanding strain performance at both ambient and cryogenic temperatures. Its strain capabilities are significantly higher than those of conventional ceramics, with the strain exhibited at 77K being comparable to the strain observed in ceramics at 293K. This exceptional strain performance makes the product highly suitable for applications that require reliable operation in extreme temperature conditions.

Segmentation

By Type

• Lead Zirconate Titanante (PZT)
• Barium Titanante (BT)
• Sytontium Tantante (ST)

By Application

• Antennas & Sensors
• Fuels & Injectors
• Surgical Equipment
• Generators
• Others

By End User

• Medical & Healthcare
• Automotive
• IT & Communications
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other