According to the recent study the piezoelectric material market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for high performance sensors in aerospace, automotive, and healthcare industries, increasing adoption of thin film technology in MEMS foundries, and demand for energy harvesting mechanism in various end use industries.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in piezoelectric material market by material (piezoceramics, piezopolymers, piezocomposites and others), application (actuators, sensors, motors, generators, transducers, and others), end use industry (automotive, healthcare, IT & telecom, consumer goods, aerospace & defense, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Piezoceramics market is expected to remain the largest segment during the forecast period.”
Based on material, the piezoelectric material market is segmented into piezoceramics, piezopolymers, piezocomposites and others. Lucintel forecasts that the piezoceramics market is expected to remain the largest segment due to increasing demand for ceramic-based lead zirconate titanate (PZT) materials as PZT material has a high dielectric constant, piezoelectric constant and excellent capability for producing high piezoelectric voltage corresponding to force pressure or vibration.
“Within the piezoelectric material market, the consumer goods segment is expected to remain the largest end use industry”
Based on end use industry the consumer goods segment is expected to witness the highest growth over the forecast period due to the growth in electronics manufacturing in China, Japan, Taiwan, and South Korea, technology advancement in consumer electronics sectors, and increasing demand for LEDs.
“Asia pacific will dominate the piezoelectric material market in near future”
APAC will remain the largest region over the forecast period due to expansion in the manufacturing sectors in developing countries along with rise in foreign investments in the industrial and manufacturing sector, increasing awareness of the importance of energy harvesting systems, and existence of major manufacturing facilities of piezoelectric devices in this region.
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Major players of piezoelectric material market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. PI Ceramic, Harris Corporation, CeramTec GmbH, APC International, Morgan Technical Ceramics, CTS Corporation, and Mad City Labs are among the major piezoelectric material providers.
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