Piezoceramic Discs Market Expected to Reach $5.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Piezoceramic Discs Market, by Type, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2023–2032" The piezoceramic discs market was valued at $2.9 billion in 2022, and is estimated to reach $5.4 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

Piezoceramic discs are efficient devices that transform electrical energy into mechanical energy and vice versa. They are small, light, and thin. They are constructed of piezoelectric materials, which may deform when an electric field is given to them or create an electric charge when mechanically deformed. The applications of piezoceramic discs range from sensors to actuators to transducers. Additionally, piezoceramic materials and piezoceramic sensors are utilized in medical equipment including pacemakers and ultrasonic transducers. Further, the rise in demand for advanced medical technologies continues and is expected to propel the growth of piezoceramic discs solutions.

The growth of global piezoceramic discs is majorly driven by the increasing adoption of piezoelectric devices for application paired with the growing demand for piezoelectric sensors and actuators from various end-use industries. Moreover, the rising demand for piezoelectric inkjet print heads from the printing industry is expected to drive market growth. However, the high cost of raw materials for piezoceramic discs is acting as the prime restraint of the global market. On the contrary, the rising demand for piezoelectric devices in developing applications is anticipated to provide lucrative opportunities for the piezoceramic discs industry during the forecast period.

According to piezoceramic discs market analysis, the above 50mm segment was the highest contributor to the market in 2022. The sensor and actuators and energy harvesting collectively accounted for around 65.8% of the market share in 2022. The growth in demand for advancements in actuation technologies is also driving the demand for piezoceramic discs solutions which is expected to lead the growth of the piezoceramic discs market growth.

The outbreak of COVID-19 has significantly impacted the growth of the global supply chain. The decline in growth in manufacturing solutions has significantly impacted the demand for piezoceramic discs solutions during the pandemic. Further, the lack of availability of a professional workforce due to the partial and complete lockdown implemented by governments across the globe has restrained the growth of the piezoceramic discs industry during the pandemic. However, the growing demand for energy harvesting solutions in growing economies such as India, South Korea, Brazil, and others is expected to drive the growth of the market during the forecast period. 

By product type, the above 50mm segment dominated the market in 2022 and is expected to dominate the market during the forecast period.  Based on application, the sensor and actuators segment accounted for the major share of global piezoceramic discs market trends, owing to a surge in demand from emerging markets globally. Region-wise, Asia-Pacific holds a significant share of the global market, owing to the presence of prime players in this region. China dominated the market in the Asia-Pacific. The rise in investment by prime players and government agencies to enhance the performance and capabilities of piezoceramic discs is contributing towards market growth and has led to the growth of the market.

KEY FINDINGS OF THE STUDY

• In 2022, the above 50mm segment accounted for maximum revenue and is projected to grow at a notable CAGR of 6.2% during the forecast period.
• The sensor and actuator segment was the highest revenue contributor to the market size in 2022.
• The sensor and actuators and energy harvesting segments collectively accounted for around 65.8% piezoceramic discs market share in 2022.
• Asia-Pacific acquired a major share in the market with an industry share of 49.6% in 2022.

The key players profiled in the report Physik Instrumente (PI) GmbH & Co. KG., Murata, TDK, CTS Corporation, Sparkler Ceramics, CeramTec, Fuji Ceramics Corporation, TRS Technologies, Inc, Micromechatronics Inc., and Sensor Technology Ltd. Market players have adopted various strategies such as product launches, partnerships, joint ventures, acquisitions, and others to expand their foothold in the piezoceramic discs market size. For instance, in 2022, Murata launched a new line of piezoceramic discs for use in ultrasonic sensors. The new discs are said to be more accurate and sensitive than previous generations, making them ideal for applications such as medical imaging and industrial inspection. In addition, in 2022, Taiyo Yuden launched a new line of piezoceramic discs for use in ultrasonic motors. The new discs are said to be more efficient and powerful than previous generations, making them ideal for applications such as medical devices and industrial equipment.