Northbrook, IL 60062 -- (SBWIRE) -- 09/15/2023 -- The piezoelectric devices market industry is valued at USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028. The increasing adoption of piezoelectric products in the aerospace & defence, healthcare and automotive industry, are among factors that contribute to the growth of the piezoelectric devices Industry .
Major vendors in the piezoelectric devices companies include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US).
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Market Dynamics:
Drivers: High adoption of piezoelectric products in aerospace industry
Major players from the aerospace industry are often involved in the manufacturing, selling, and servicing commercial aircraft, space vehicles, and satellites. The industry requires advanced and improved solutions to increase the efficiency, durability, and performance of aircraft, planes, helicopters, submarines, etc. Piezoelectric actuators are used in the active vibration damping technique to check various mechanical structures and parts of modern aircraft to prevent undesirable vibrations, reduce noise levels, lower fuel consumption, and minimize energy waste in aircraft.
Restraint: High costs associated with piezoelectric materials
The templated grain growth (TGG) process enables the fabrication of single crystals and textured ceramics with single crystal-like properties. In TGG, nucleation and growth of the desired crystal on aligned single-crystal template particles result in an increased fraction of oriented material with heating. To facilitate alignment during forming, template particles must be anisometric in shape. To serve as the preferred sites for epitaxy and subsequent oriented growth of the matrix, the template particles need to be single crystal and chemically stable up to the growth temperature.
Opportunity: Rising adoption of piezoelectric devices and polymers in biomedical and surgical applications
Piezoelectric polymers are elastic and lightweight; these are beneficial features for many biomedical devices. Polyvinylidene fluoride (PVDF) and its copolymers are the most investigated materials due to their high piezoelectricity, significant chemical resistance, thermal stability, good processability, and mechanical properties. PVDF is the most widely used piezopolymer for tissue engineering applications—a piezoelectric scaffold made from PVDF can provide the necessary stimulation for regenerating damaged bone or cartilage and promoting neuron growth and wound healing.
Challenge: Developing alternative materials to PZT ceramic materials having similar properties
PZT is the prime piezoelectric ceramic used in developing piezoelectric products. A level of toxicity threatens the position of PZT as the leading piezoelectric ceramic and has sparked urgent global efforts to identify environmentally benign substitutes. A fundamental issue with the recognition of lead toxicity is the need to find surrogate materials in the myriad of products in which PZT plays a major functional role. In recent years, engineers at the University of Leeds have been investigating potassium sodium bismuth titanate (KNBT) as a lead-free ceramic piezoelectric material that might substitute for Pb-containing materials, such as lead zirconium titanate (PZT). KNBT shows many of the necessary electrical and chemical properties of an adequate replacement for PZT. Further, the university claimed that it is lightweight and usable at room temperature.
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Key Players:
CeramTec GmbH (Germany)
CeramTec GmbH is a leading supplier of advanced ceramics designed for piezoelectric applications. The company serves its clients globally through 19 manufacturing plants located in Europe, the US, and Asia. CeramTec GmbH is a global developer, manufacturer, and supplier of advanced technical ceramic products. Its portfolio comprises over 10,000 products, components, and parts made of various engineered ceramic materials for automotive, aeronautics and defense, machinery, electronics, medical equipment, chemical, industrial equipment, mechanical, and medical engineering applications. The company operates through two business segments: Industrial Markets and Medical Markets. Piezoelectric materials and products are offered through its Industrial Markets business segment. The company's product portfolio includes oxide ceramics such as aluminum oxide, aluminum titanate, mixed/dispersion ceramics, piezoceramics, silicate ceramics, and zirconium oxide ceramics; non-oxide ceramics including aluminum nitride, silicon carbide, and silicon nitride ceramics, as well as ceramic composites such as metal-ceramic composites.
CTS Corporation (US)
CTS Corporation is a leading global designer and manufacturer of actuators, electronic components, and sensors for original equipment manufacturers (OEMs) in the aerospace & defense, industrial, information technology, medical, telecommunications, and transportation sectors. CTS Corporation has categorized its product portfolio into Sense, Connect, and Move. The Sense category includes piezoelectric sensing products that provide vital inputs to electronic systems. Connect products allow systems to function in synchronization with other systems. The Move category includes piezoelectric products, ensuring the required movements are effectively and accurately executed. The company has a major product portfolio of sensors and actuators that can be deployed in passenger or commercial vehicles; electronic components designed for telecommunications infrastructure, information technology, and other high-speed applications, switches, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in the medical, industrial, aerospace & defense, and information technology markets.
piezoelectric devices market industry in Asia Pacific estimated to grow at the fastest rate during the forecast period.
The piezoelectric devices market industry in Asia Pacific has been studied for China, Japan, South Korea, and Rest of Asia Pacific Asia Pacific is the fastest-growing piezoelectric devices market industry owing to the ongoing technological innovations and expanding industrial and manufacturing sector in emerging countries in the region. The growth of the piezoelectric devices market industry in Asia Pacific is attributed to the active participation of governments in energy harvesting projects, rapid urbanization and industrialization, increased GDP of emerging markets such as China, South Korea, and political support to expand the manufacturing sector in developing countries in the region.