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Market Size – USD 182.3 Million in 2021, Market Growth – at a CAGR of 16.3%, Market Trends – Rising number of automotive manufacturing
VANCOUVER, BC, CANADA, July 19, 2022 /EINPresswire.com/ -- The global lead-free piezoelectric ceramic material market size is expected to reach USD 710.0 Million in 2030 and register a revenue CAGR of 16.3% over the forecast period, according to latest analysis by Emergen Research. Increasing significance of automated manufacturing processes with higher efficiency and short production times is one of the key factors expected to support market revenue growth between 2022 and 2030. Lead-free piezoelectric ceramic materials have a high degree of stiffness and capacity to change shape when subjected to mechanical stress, they are now widely employed in manufacturing of electronic goods such as transducers, actuators, generators, SONAR, sensors, and motors. This is another factor expected to drive market revenue growth over the forecast period. Furthermore, increased demand for photovoltaic cells in developed countries such as the U.S. and Germany is likely to boost demand over the forecast period due to legislative assistance pertaining to Feed-in-Tariff (FiT).
The Lead Free Piezoelectric Ceramic Material Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2022-2030. The report studies the historical data of the Lead Free Piezoelectric Ceramic Material market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Lead Free Piezoelectric Ceramic Material industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Lead Free Piezoelectric Ceramic Material market.
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Top competitors of the Lead Free Piezoelectric Ceramic Material Market profiled in the report include:
KYOCERA Corporation, Sumitomo Chemical Co., Ltd., PI Ceramic GmbH, Zibo Yuhai Electronic Ceramic Co., Ltd, Fuji Ceramics Corporation, NGK Spark Plug Co., Ltd., Noritake Co., Limited, Kemet Corporation, Seiko Epson Corporation, and Canon Inc.
Some Key Highlights from the Report Barium titanate base segment accounted for the largest revenue share in 2021. Barium titanate is a white powder that is made up of an inorganic chemical compound. It is a ferroelectric ceramic chemical compound that is also piezoelectric. In its purest form, barium titanate can be utilized as an electrical insulator. The compound is utilized as a dielectric ceramic material in capacitors. It is also utilized in microphones and other transducers as a piezoelectric due to its ferroelectric, exceptional dielectric, pyroelectric, piezoelectric, and electro-optical characteristics.
Industry & manufacturing segment revenue is expected to register a significant growth rate during the forecast period. Lead-free piezoelectric ceramics are utilized in actuators, sensors, positioners, and other applications. Lead-free piezoelectric ceramic materials are widely used in the manufacturing industry as they play an important role in a variety of processes that save time and money, such as welding automation systems for cutting metals, plastics processing equipment for injection molding machines, and so on.
Automotive industry segment is expected to grow significantly during the forecast period. In automotive industry, lead-free piezoelectric ceramics materials are utilized to control a variety of systems. Windshield wipers, window lifts and motors, engine timing belt tensioner/idler pulleys, and servo valves are some of the examples. A piezoelectric element is used in cars to measure vibrations from various areas of vehicle in order to improve comfort and reduce noise levels. This sort of sensor is also used in assemblies such as high beam switches, turn indicators, warning flashers, and other assemblies where it serves as a strike sensor or switch, making it quite popular among automakers.
Lead-free piezoelectric ceramic material market in Asia Pacific is expected to account for largest revenue share among other regional markets during the forecast period. Increase in production facilities by companies in India, South Korea, Taiwan, China, and Japan is responsible for this growth. Moreover, use of lead-free piezoelectric ceramic materials in automotive industry has increased, with applications including tire pressure sensors, fuel injectors, backup sensors, engine knock sensors, dynamic pressure sensors, and a slew of other critical safety features found in modern vehicles, supporting market revenue growth in the region.
In February 2021, CTS Corporation secured financing from Eurostars for development of ‘Environmentally Friendly Lead-Free Piezoelectric Ceramic Material’ with a strategic partner Entekno Materials, Turkey.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Emergen Research has segmented the global lead-free piezoelectric ceramic material market on the basis of product type, application, and region:
Product Type Outlook (Revenue, USD Million; 2019–2030) Barium Titanate Base
Application Outlook (Revenue, USD Million; 2019–2030) Industry & Manufacturing
Regional Analysis of the Lead Free Piezoelectric Ceramic Material Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the Lead Free Piezoelectric Ceramic Material market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Lead Free Piezoelectric Ceramic Material business sphere.
Key Objectives of the Report:
Analysis and estimation of the Lead Free Piezoelectric Ceramic Material market size and share for the projected period of 2020-2027
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Lead Free Piezoelectric Ceramic Material market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Lead free Piezoelectric Ceramic Material Market Size Worth USD 710.0 Million in 2030
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