Piezoelectric Materials Market

Piezoelectric Materials Market Size

The global piezoelectric materials market size was valued at USD 1,516.7 million in 2023, which is estimated to be valued at USD 1,573.5 million in 2024 and projected to reach USD 2,095.7 million by 2031, growing at a CAGR of 4.18% from 2024 to 2031. The market is experiencing steady growth due to increasing focus on renewable energy and rapid urbanization.

As cities expand, the demand for sensors and actuators for environmental testing, structural health monitoring and traffic control increases. Additionally, the expansion of smart electronics and IoT devices is driving the demand for miniaturized piezoelectric materials.

In the scope of work, the report includes services offered by companies such as APC International, Ltd., CTS Corporation, CeramTec, Sparkler Ceramics, Noliac A/S, Mad City Labs, Inc., Harris Corporation, PI Ceramic GmbH, Arkema, Morgan Advanced Materials, and others.

The rising use of piezoelectric materials in electronics is fueling the growth of the piezoelectric materials market. Kknown for their ability to create electrical charge under mechanical stress, these materials are used in a wide range of electronic components, including sensors, actuators, transducers, and energy harvesters.

As demand for small, energy-efficient, and high-performance devices increases, their applications are expanding across industries such as automotive, consumer electronics, healthcare, and industrial automation.

• For instance, in June 2024, AUDIOWELL launched a lead-free piezoelectric ceramic transducer featuring its self-developed piezoelectric jetting valve and piezoelectric stack, with the theme of 'Intelligent Sensing Empowers Intelligent Water'. These advancements attracted substantial industry recognition.

Additionally, the advancements in the material technologies such as development of lead-free piezoelectric materials are fostering innovation and adoption. 

Piezoelectricity generate an electric field when subjected to mechanical force and deform when an electric field is applied. These materials operate as transducers, allowing mechanical energy to be converted into electrical energy and vice versa.

They use this ability to detect changes in parameters such as speed, stress, strain, heat, or force by converting energy differentials into electrical charges. Key applications include frequency generation, ignition systems, sound production and detection, SONAR, and devices for measuring displacement and pressure.

They are widely used in ultrasound imaging equipment and medical sensors, vibration monitoring, energy harvesting, and automotive systems such as fuel injection and knock sensors. Additionally, they play a crucial role in aircraft for structural health monitoring.

Analyst’s Review

The surging adoption of sports utility vehicles (SUVs), luxury cars, consumer electronics, healthcare applications, along with the expanding aerospace and defense sectors, are fueling the demand for piezoelectric materials. These materials are widely used in the manufacturing of sensors, motors, and actuators. 

Additionally, countries such as Japan, South Korea and China are expanding their electronics industries, while the increasing use of automotive technologies in the manufacturing processes reduces costs and enhances the accuracy of piezoelectric materials.

The demand for piezoelectric ceramics is rising due to their rising use in actuators and sensors. The healthcare industry irequires ultrasonic equipment, while the automotive sector is expanding the use of piezoelectric materials in applications such as fuel injectors and electric vehicle components.

Piezoelectric Materials Market Growth Factors

The growing demand in the healthcare sector is fueling the growth of the piezoelectric materials market. Their surging use is supported by their unique ability to convert mechanical energy into electrical energy and vice versa. These materials play a critical role in medical devices and diagnostics, enabling innovations in ultrasound imaging, implanted sensors, and medicine delivery. 

Piezoelectric transducers are critical in ultrasound imaging as they convert electrical impulses into sound waves and vice versa. Implantable sensors comprised of biocompatible piezoelectric materials enable real-time monitoring of physiological data such as heart rate, blood pressure, and neural activity, without a need for external power.

• For instance, in 2023, a research group at the Korea Advanced Institute of Science and Technology developed a sensitive wearable blood pressure sensor utilizing piezoelectric technology.

Furthermore, piezoelectric materials are increasingly being used in advanced medication delivery systems, where mechanical vibrations improve drug release accuracy. Their applications also extend to wearable health monitors and tissue engineering, where they promote cell stimulation and proliferation. 

The growing utilization of piezoelectric technology in healthcare highlights its potential to improve diagnostic accuracy, therapeutic outcomes, and patient care efficiency.

The piezoelectric materials market faces challenges due to the high cost of production. Materials such as barium titanate, quartz, and zirconate titanate, which are crucial for actuators, sensors, and energy harvesting devices, involve complex and energy-intensive manufacturing processes.

The use of rare and expensive raw materials further increases the cost, limiting their application, in cost-sensitive industries such as consumer electronics and automobiles. Additionally, the significant investment required for research and development of new piezoelectric materials hinders market expansion, particularly for small businesses. 

These price constraints impede the widespread adoption of piezoelectric materials, limiting their potential in innovative applications such as wearable devices and advanced medical technologies.

Piezoelectric Materials Industry Trends

Piezoelectric materials are valuable for energy harvesting applications as they convert mechanical energy into electrical energy, which makes them suitable for powering low-energy devices such as wireless transmitters, sensors, and remote monitoring systems. 

Materials such as Quartz, lead zirconate titanate (PZT), and polyvinylidene fluoride (PVDF) generate electric charges under mechanical stress or vibrations. This characteristic make them ideal for gathering ambient energy from sources such as human motion, vehicle vibrations, and structural oscillations.

• For instance, in June 2023, an international research team from Tohoku University manufactured a new energy generating device by combining piezoelectric composites with carbon fiber-reinforced polymer, a widely utilized material that is both light and strong.The innovative device converts ambient vibrations into electrical energy, offering a reliable and sustainable power solution for self-sustaining sensors.

Energy extracted from these materials can power small electronic devices, sensors, or wireless systems, reducing reliance on batteries and enabling self-sustaining systems. Integrating these materials into energy harvesting systems supports the development of long-term and low-maintenance solutions for powering equipment in remote or difficult-to-access areas.

Investment in infrastructure development focused on piezoelectric materials is a strategic effort to enhance their capabilities and applications across different sectors. Governments and businesses are investing in piezoelectric material infrastructure development to boost innovation and expand applications. 

These initiatives are aimed at increasing efficiency, durability, and scalability to meet the growing demand in industries such as healthcare, automotive, aerospace, and renewable energy. Additionally, these investments support research and development, fostering advancements in manufacturing processes, material science, and product integration.

Segmentation Analysis

The global market has been segmented based on type, application, end-use industry, and geography.

By Type

Based on type, the piezoelectric materials industry has been categorized into ceramics, polymers, and composites. The ceramics segment garnered the highest revenue of USD 708.9 million in 2023. This growth is fueled by a high performance of lead zirconate titanate and its verstality, which is widely used in ultrasound imaging, fuel injectors, sensors, industrial automation, and energy harvesting technologies.

• For instance, in January 2024, A.M. Fitzgerald & Associates, a Micro-electromechanical systems (MEMS) design service company, partnered with MEMS infinity to increase the commercialization of piezoelectric actuators and MEMS sensors using Lead Zirconate Titanate.

Additionally, the rising demand for lightweight piezoelectric materials in the aerospace industry, along with their low maintenance and corrosion resistance, increases the demand for ceramics.

By Application

Based on application, the piezoelectric materials market has been segmented into actuators, sensors, motors, generators, and others. The actuators segment captured the largest share of 34.38% in 2023. Actuators are extensively used for precision control and movements in applications such as aerospace, robotics, and industrial automation. 

The demand for micro actuators has risen as industries shift toward smaller, more compact systems. Piezoelectric actuators are widely used in automotive applications such as adaptive suspension system, exhaust system management, and fuel injectors. The growing adoption of smart technologies and electric vehicles further drives the need for actuators.

By End-Use Industry

Based on end-use industry, the market has been segmented into automotive, healthcare, aerospace & defense, consumer electronics, and others. The automotive segment is expected to garner the highest revenue of USD 804.3 million by 2031. 

The growing population and rising disposable income, particularly in developing regions such as India and China, are fueling the demand for piezoelectric materials. 

Furthermore, the shift toward autonomous driving and electric vehicles has increased the need for actuators, sensors, and other piezoelectric components to optimize automotive systems. There materials are further used inapplications such as tire pressure sensors, airbag sensors, and fuel atomizers.

Piezoelectric Materials Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Asia-Pacific piezoelectric materials market accounted for the largest share of 36.54% in 2023, valued at USD 554.2 million. The reion is a key hub for automotive and electronics manufacturing. The increasing use of piezoelectric materials in automotive applications, such as sensors, and actuators, enhances vehicle performance, efficiency, and safety. 

These materials support the development of sophisticated systems such as adaptive suspension, tire pressure monitoring, and fuel injection controls, thereby improving the overall driving experience.

• For instance, in April 2023, the International Trade Administration reported that China remains the largest vehicle market globally, with the Government of China anticipating car production to reach 35 million units by 2025.

Piezoelectric materials are crucial in the electronics industry, enabling the production of smaller, more efficient components such as sensors, actuators, and transducers for smartphones, wearables, and industrial equipment. 

The increasing adoption of these technologies, coupled with the region's strong manufacturing capabilities and innovation, is likely to fuel the demand for piezoelectric materials.

Europe piezoelectric materials market is anticipated to grow at a CAGR of 4.17% over the forecast period. Europe is prioritizing renewable energy and energy efficiency, with the focus on developing and applying piezoelectric materials. These materials, which convert mechanical energy into electrical energy, are key to advancing sustainable energy solutions. 

Research aims to increase the efficiency and performance of piezoelectric devices for large-scale integration into renewable energy systems such as wind and solar power. Incorporating these materials into energy harvesting systems and smart grids aligns with region’s goal of reducing carbon emissions and increasing energy independence. 

Both businesses and governments are making major investments in the development of new piezoelectric materials to improve energy conversion efficiency, durability, and minimize environmental impact.

Competitive Landscape

The global piezoelectric materials market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. 

Companies are implementing impactful strategic initiatives, such as expanding services, investing in research and development (R&D), establishing new service delivery centers, and optimizing their service delivery processes, which are likely to create new opportunities for market growth.

List of Key Companies in Piezoelectric Materials Market

• APC International Ltd.
• CTS Corporation
• CeramTec
• Sparkler Ceramics
• Noliac A/S
• Mad City Labs, Inc.
• Harris Corporation
• PI Ceramic GmbH
• Arkema
• Morgan Advanced Materials

Key Industry Developments

• April 2023 (Acquisition): CTS Corporation acquired maglab AG, a Switzerland-based innovator in electric vehicle sensors.
• March 2023 (Launch): PI Ceramic launched ultrasonic components and piezoelectric actuators designed for smart metering applications, including flow metering and bubble detection, for utilization in medical and industrial sectors.

The global piezoelectric materials market has been segmented as:

By Type

• Ceramics
• Polymers
• Composites

By Application

• Actuators
• Sensors
• Motors
• Generators
• Others

By End-Use Industry

• Automotive
• Healthcare
• Aerospace & Defense
• Consumer Electronics
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America