Piezoelectric Composites Material Market, by Material Type (Ceramic, Polymer, Others) , by Application (Actuators, Sensors, Transducers, Others) : Global Opportunity Analysis and Industry Forecast, 2024 - 2033

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

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.