Piezoceramic Plates Market Research, 2032
The global piezoceramic plates market was valued at $2 billion in 2022, and is projected to reach $3.9 billion by 2032, growing at a CAGR of 6.8% from 2023 to 2032.
Piezoceramic plates represent specialized components with unique material properties, primarily composed of lead zirconate titanate (PZT). PZT is a ferroelectric ceramic renowned for its exceptional piezoelectric characteristics. This intrinsic property refers to the ability of the material to generate an electric charge in response to applied mechanical stress and conversely deform in response to an electric field. The underlying mechanism involves the reorientation of electric dipoles within the crystal lattice, creating a dynamic interaction between mechanical and electrical energy. This phenomenon forms the foundation of piezoceramic plate functionality.
These plates find diverse applications across industries due to their versatile nature. In the medical field, piezoceramic plates are integral components of compact ultrasound transducers, portable medical devices, and miniature sensors, contributing to advancements in diagnostic imaging and point-of-care technologies. In industrial contexts, they play a crucial role in precision control mechanisms and sensors, while the aerospace sector benefits from their use in lightweight structures for vibration control and structural health monitoring. Additionally, consumer electronics leverage the thin and responsive nature of piezoceramic plates for applications such as haptic feedback in touchscreens and tactile sensors in wearable devices.
The opportunities for innovation with piezoceramic plates continue to expand as industries seek compact and efficient solutions. Employment in burgeoning technologies like the Internet of Things (IoT) and wearable gadgets emphasizes the ongoing importance of piezoceramic plates in the continually changing landscape of technological progress. The capacity of these plates to transform mechanical energy into electrical signals and vice versa establishes them as crucial facilitators in the creation of state-of-the-art devices. This highlights their notable significance within the broader domain of materials science and engineering, showcasing their pivotal role in driving innovation and technological evolution using piezoceramic sensors.
Top Impacting Factors
The piezoceramic plates market analysis is expected to expand significantly during the forecast period owing to high piezoelectric activity and high permittivity, and ease of fabricating piezoceramic plates of various sizes, shapes, and requirement. In addition, during the forecast period, the piezoceramic plates market is anticipated to benefit from rise in demand for piezoelectric devices in developing applications, and consumer electronics adopting piezoceramic plates for various applications. On the contrary, the piezoelectric ceramics have low Curie temperature restrains piezoceramic plates market growth during the forecast period.
The piezoceramic plates market is segmented into thickness (in mm) and application.
On the basis of thickness (in mm), the market is bifurcated into below 5, 5 to 10, and above 10. In 2022, the above 10 segment dominated the market, and is expected to acquire a major market share by 2032.
On the basis of application, the market is categorized into sensor and actuators, energy harvesting, medical device, industrial applications, consumer electronics. The sensor and actuators segment acquired the largest share in 2022. Consumer electronics segment is expected to grow at a significant CAGR from 2023 to 2032.
On the basis of region, the Piezoceramic Plates Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Country-wise, the U.S. acquired a prime share in the piezoceramic plates market in the North American region and it is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, rest of Europe, dominated the piezoceramic plates market share, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the rest of Europe is expected to emerge as the fastest-growing country in Europe's Piezoceramic Plates market with a CAGR of 7.4%.
In Asia-Pacific, China, is expected to emerge as a significant market for the piezoceramic plates industry, owing to a significant rise in investment by prime players due to increase in growth of consumer electronics industries in rural and urban regions.
In the LAMEA region, the Latin America garnered significant piezoceramic plates market size in 2022. The LAMEA piezoceramic plates industry has witnessed an improvement, owing to the growth in inclination of prime vendors towards utilizing the piezoceramic plates across this region in various applications such as healthcare, automotive, and others. Moreover, the Middle East region is expected to grow at a high CAGR of 5.2% from 2023 to 2032.
Historical Data & Information
The global piezoceramic plates market is highly competitive, owing to the strong presence of existing vendors. Vendors of the piezoceramic plates market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands in piezoceramic plates industry. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
APC International, Ltd., CTS Corporation, Kyocera Corporation., Physik Instrumente (PI) GmbH & Co. KG., Sparkler Ceramics Pvt. Ltd., TDK Corporation, Steminc, Fuji Ceramics Corporation, Annon Piezo Technology Co.,Ltd., and Harbin Core Tomorrow Science and Technology Co., Ltd.. are the top companies holding a prime share in the Piezoceramic Plates market. Top market players have adopted various strategies, such as product launch, product, and business expansion to expand their foothold in the Piezoceramic Plates market.
- In June 2022, CTS Corporation announced the acquisition of Ferroperm Piezoceramics from Meggitt PLC for 525 million Danish Krone in cash, subject to usual net debt and working capital adjustments and other terms and conditions of the definitive share purchase agreement.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the piezoceramic plates market analysis from 2022 to 2032 to identify the prevailing piezoceramic plates market opportunity.
- 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 piezoceramic plates market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the piezoceramic plates market forecast.
- 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 piezoceramic plates market trends, key players, market segments, application areas, and piezoceramic plates market outlook.
Piezoceramic Plates Market Report Highlights
Market Size By 2032
USD 3.9 billion
CAGR of 6.8%
2022 - 2032
By Thickness (in mm)
Key Market Players
Steminc, Physik Instrumente (PI) GmbH & Co. KG., Sparkler Ceramics Pvt. Ltd., Harbin Core Tomorrow Science and Technology Co., Ltd., Fuji Ceramics Corporation, Kyocera Corporation., TDK Corporation, CTS Corporation, Annon Piezo Technology Co.,Ltd., APC International, Ltd.
Piezoceramic plates are unique components crafted for their exceptional piezoelectric characteristics. These plates are specifically engineered to adeptly transform mechanical stress into electrical charge and vice versa. This unique
capability makes them invaluable in various applications across industries. In the medical field, piezoceramic plates contribute to compact ultrasound transducers, portable medical devices, and sensors, driving advancements in diagnostic imaging and healthcare technologies. In industrial automation, they play a critical role in precision control mechanisms and sensors, enhancing the efficiency and accuracy of manufacturing processes. The aerospace industry benefits from their lightweight yet durable properties in applications like vibration control and structural health monitoring, contributing to improved safety and performance.
The outlook for the piezoceramic industry, particularly concerning piezoceramic plates, is marked by a trajectory of continuous growth and innovation. As technology evolves, there is an increase in the demand for miniaturized, efficient, and versatile components, aligning with the inherent characteristics of piezoceramic plates. The growing utilization of piezoceramic plates in emerging technologies like the Internet of Things (IoT) and wearables highlights their escalating importance in today's technological arena. There is an observable industry shift towards advancing
materials and manufacturing methods to augment the capabilities and adaptability of these plates. This trend is facilitating the exploration of new applications and contributing to the expansion of the market.
In terms of market dynamics, the piezoceramic industry is poised for steady growth driven by the demand from key sectors like healthcare, industrial automation, and consumer electronics. The adaptability of piezoceramic plates positions them as pivotal components in next-generation devices, contributing to the efficiency and innovation across diverse applications. The industry's future is marked by ongoing research and development efforts to explore new functionalities, improve material properties, and discover novel applications, ensuring the sustained relevance and growth of the piezoceramic industry in the evolving landscape of technology and engineering.