Piezoelectric Smart Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Piezoelectric Smart Materials Market Analysis
The Global Piezoelectric Smart Material Market is projected to register a CAGR of over 3% during the forecast period (2022-2027).
The COVID-19 outbreak caused nationwide lockdowns around the world, disruption in manufacturing activities and supply chains, and production halts, all of which had a negative impact on the market in 2020. However, conditions began to improve in 2021-2022, which is expected to boost market growth during the forecast period.
- Over the short term, increasing demand from the military and aerospace sectors is likely to propel the demand for piezoelectric smart materials during the forecast period.
- However, the high cost of smart materials tends to restrain the growth of the market.
- The growing demand for Nanotechnology in Smart Materials is likely to act as an opportunity for the studied market.
- North America is expected to account for the highest market share rate during the forecast period.
Piezoelectric Smart Materials Market Trends
This section covers the major market trends shaping the Piezoelectric Smart Materials Market according to our research experts:
Aerospace and Defense Industry to Witness the Highest Growth Rate
- In the aerospace sector, piezoelectric smart materials help in guiding the airflow across the wings of an aircraft and maintaining it during take-off and landing.
- Additionally, these materials are also known to resolve common complications with the aircraft, such as engine vibration, high cabin noise levels, ice formation on wings, flow separation due to turbulence, and control surfaces in cold conditions.
- According to the Boeing Commercial Market Outlook 2022-2041, more than 41,170 new airplane deliveries are required globally. Single-aisle airplanes are likely to command the largest share of new deliveries (with more than 72% share), with the need for more than 30,880 airplanes, arising through the next 20 years. The demand for widebody airplanes is expected to be 7,230 while the demand for freighters is expected to be 940 over the next 20 years.
- The airline operators are expected to replace older jets with more fuel-efficient models and expand their fleets to accommodate the steady rise in air travel across emerging and established markets.
- The increasing number of aircraft deliverables is expected to increase the manufacturing activities in the sector, which in-turn will enhance the demand of advanced materials in order to reduce the vibrations and noises, thus stimulating the consumption piezoelectric smart materials globally.
- In addition, these materials are also used as smart sensors, smart nanorobotics, smart combat suits, and smart skins in the military and defense sector extensively.
- Hence, with such robust growth of the aerospace industry across the world, the demand in the piezoelectric smart materials market is also expected to increase during the forecast period.
North America to Dominate the Market
- North America is has been the leading market for the piezoelectric smart materials market, in terms of revenue, in recent years.
- Piezoelectric materials are a class of smart materials that produce a voltage when subjected to external stimuli is applied. These properties lead to an increase in demand from the construction and aerospace industry.
- According to the American Institute of Architects, overall nonresidential building construction in the United States is expected to grow to 3.1% in 2022. The construction of hotels is expected to rise by 8.8% in 2022 and of office spaces by 0.1%. The subsequent increase is expected to enhance the growth of the crude steel market during the forecast period.
- Moreover, in the United States, according to the Federal Aviation Administration (FAA), the number of aircraft in the country's commercial fleet accounted for 5,882 in 2020, witnessing a decline rate of 22.9% compared to the previous year. Moreover, the commercial fleet is forecast to increase to 8,756 in 2041, with an average annual growth rate of 2% per year. This is expected to increase the market demand from multiple applications in the aerospace industry.
- Additionally, there has been significant growth in the demand for piezoelectric materials in Canada for usage in several end-user industries like construction, healthcare, etc.
- In the healthcare industry, the medical device sector is a highly diversified and export-oriented industry that manufactures equipment and supplies. The sector is driven by product innovation. The industry can draw on world-class innovative research being conducted in Canadian universities, research institutes, and hospitals, some of which have been spun off into Canadian medical device companies.
- According to the US Department of Agriculture, Mexico represents one of the largest consumer markets in the world for US agricultural products. The country's agricultural imports in 2020 were valued at around USD 28.1 billion. The United States is Mexico's most prominent agricultural trading partner, purchasing 82% of Mexican exports and supplying 69% of the country's imports.
- Hence, owing to the above-mentioned reasons, North America is likely to dominate the market during the forecast period.
Piezoelectric Smart Materials Industry Overview
The Piezoelectric Smart Material market is partially consolidated in nature. Some of the major players in the market include Arkema, APC International, Ltd., CeramTec GmbH, CTS Corporation, and KYOCERA Corporation among others ( not in any particular order).
Piezoelectric Smart Materials Market Leaders
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APC International, Ltd.
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CeramTec GmbH
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CTS Corporation
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KYOCERA Corporation
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Arkema
*Disclaimer: Major Players sorted in no particular order
Piezoelectric Smart Materials Market News
- In April 2021, The SUPERSMART European project, co-ordinated by Arkema and sponsored by EIT (European Institute of Innovation and Technology), has received the 2021 Organic Electronics Association competition Award for the Best Publicly Funded Project Demonstrator. This initiative takes the emerging technology of paper-printed organic electronics from the lab to the factory.
Piezoelectric Smart Materials Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increase in Demand from Military and Aerospace Sector
- 4.1.2 Growing Demand from Construction
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4.2 Restraints
- 4.2.1 High Cost of Smart Materials
- 4.2.2 Other Restraints
- 4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Ceramics
- 5.1.2 Polymers
- 5.1.3 Composites
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5.2 Application
- 5.2.1 Motors
- 5.2.2 Transducers
- 5.2.3 Sensors
- 5.2.4 Building Materials
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5.3 End-user Industry
- 5.3.1 Agriculture and Food
- 5.3.2 Construction and Infrastructure
- 5.3.3 Healthcare
- 5.3.4 Leisure and Sports
- 5.3.5 Automotive
- 5.3.6 Aerospace and Defense
- 5.3.7 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Russia
- 5.4.3.6 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 APC International, Ltd.
- 6.4.2 Arkema Group
- 6.4.3 CeramTec GmbH
- 6.4.4 CTS Corporation
- 6.4.5 KYOCERA Corporation
- 6.4.6 noliac
- 6.4.7 QorTek
- 6.4.8 Solvay
- 6.4.9 TDK Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growth of Nanotechnology in Smart Materials
Piezoelectric Smart Materials Industry Segmentation
Piezoelectric Smart Materials are considered to be as smart due to the fact that the materials have the capability to transduce the mechanical pressure acting on the part to electric signal, and then to mechanical signal (known as converse piezoelectric effect). The Piezoelectric Smart Material market is segmented by type, application, end-user industry and geography. By type, the market is segmented into Ceramics, Polymers, and Composites. By application the market is segmented into Motors, Transducers, Sensors, and Building Materials. By end-user industry, the market is segmented into Agriculture and Food, Construction and Infrastructure, Healthcare, Automotive, Aerospace and Defense, Leisure and Sports, and Other End-user Industries. The report also covers the market size and forecasts for the Piezoelectric Smart Material Market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).
| Type | Ceramics | |
| Polymers | ||
| Composites | ||
| Application | Motors | |
| Transducers | ||
| Sensors | ||
| Building Materials | ||
| End-user Industry | Agriculture and Food | |
| Construction and Infrastructure | ||
| Healthcare | ||
| Leisure and Sports | ||
| Automotive | ||
| Aerospace and Defense | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Piezoelectric Smart Materials Market Research FAQs
What is the current Piezoelectric Smart Materials Market size?
The Piezoelectric Smart Materials Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Piezoelectric Smart Materials Market?
APC International, Ltd. , CeramTec GmbH, CTS Corporation, KYOCERA Corporation and Arkema are the major companies operating in the Piezoelectric Smart Materials Market.
Which is the fastest growing region in Piezoelectric Smart Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Piezoelectric Smart Materials Market?
In 2024, the North America accounts for the largest market share in Piezoelectric Smart Materials Market.
What years does this Piezoelectric Smart Materials Market cover?
The report covers the Piezoelectric Smart Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Piezoelectric Smart Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Piezoelectric Smart Material Industry Report
Statistics for the 2024 Piezoelectric Smart Material market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Piezoelectric Smart Material analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
