Portland, OR, Nov. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global piezoelectric materials market generated $1.4 billion in 2021, and is projected to reach $2.5 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 billion |
| Market Size in 2031 | $2.5 billion |
| CAGR | 6.2% |
| No. of Pages in Report | 252 |
| Segments Covered | Material type, application, end-use, and region. |
| Drivers | Extensive applications of piezoelectric materials in powering flame igniters, buzzers, electric toothbrushes, humidifiers, sensors, and others |
| Increase in the use of piezoelectric materials in transducers, actuators, motors, generators, and other major electrical components of aircraft and fighter jets | |
| Opportunities | Surge in industrialisation |
| Rapid technological advancements | |
| Restrains | Piezoelectric materials when subjected to harsh environments such as heavy stress and high temperature, the consistency of results produced by the piezoelectric materials get affected. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global piezoelectric materials market, owing to the closure of various manufacturing facilities and delay or cancellation of construction projects during the pandemic.
- Lockdowns resulted in the large-scale closure of various end use industries, which extensively used piezoelectric materials, thereby negatively impacting the growth of the market.
- In addition, there was shortage of raw materials during the pandemic which was mainly due to strict import and export restrictions as imposed by the governments of various countries across the globe.
- These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic. However, the market is expected to recoup with eased restrictions.
The report offers detailed segmentation of the global piezoelectric materials market based on material type, application, end-use, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on material type, the ceramic segment held the dominating market share in 2021, holding around three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The composite segment, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
Based on application, the actuators segment held the largest market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. The motors segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.
Based on end-use, the consumer goods segment held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.6% during the forecast period. The report also analyses other segments such as automotive, information technology, healthcare, and others.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.6% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.
The key players analyzed in the global piezoelectric materials market report include Arkema S.A., CeramTec GmbH, Johnson Matthey plc, PI Ceramic GmbH, Piezo Kinetics Inc., Piezomechanik Dr. Lutz Pickelmann GmbH, solvay, Sparkler Ceramics Pvt. Ltd., TDK Electronics AG, TRS Technologies, Inc.
The report analyzes these key players in the global piezoelectric materials market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
