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Piezoelectric Smart Materials Market Size (2024 - 2029)

The piezoelectric smart material market is anticipated to experience growth, driven by increasing demand from the military and aerospace sectors. Despite challenges posed by the high cost of these materials, opportunities arise from the growing interest in nanotechnology. The market's expansion is expected to continue as conditions improve post-pandemic, with North America projected to hold the largest market share.

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Market Size of Piezoelectric Smart Materials Industry

Piezoelectric Smart Material 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

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*Disclaimer: Major Players sorted in no particular order

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 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Piezoelectric Smart Materials Market Size Summary

The piezoelectric smart material market is poised for growth, driven by increasing demand from the military and aerospace sectors. These materials, which generate voltage when subjected to external stimuli, are essential in applications such as guiding airflow in aircraft and resolving issues like engine vibration and high cabin noise. The aerospace industry's robust expansion, with a significant number of new aircraft deliveries anticipated, is expected to boost the demand for these advanced materials. Additionally, the military sector's use of piezoelectric materials in smart sensors and combat suits further contributes to market growth. Despite the high cost of these materials posing a challenge, the growing interest in nanotechnology presents new opportunities for the market.

North America is anticipated to maintain its dominance in the piezoelectric smart material market, supported by its strong aerospace and construction industries. The region's market leadership is bolstered by the increasing number of aircraft in the commercial fleet and the rise in nonresidential building construction. In Canada, the healthcare sector's demand for innovative medical devices also contributes to market expansion. The market is partially consolidated, with key players like Arkema, APC International, Ltd., and KYOCERA Corporation leading the charge. Initiatives such as the SUPERSMART project highlight ongoing advancements in the field, further propelling market development during the forecast period.

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Piezoelectric Smart Materials Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increase in Demand from Military and Aerospace Sector

      2. 1.1.2 Growing Demand from Construction

    2. 1.2 Restraints

      1. 1.2.1 High Cost of Smart Materials

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Ceramics

      2. 2.1.2 Polymers

      3. 2.1.3 Composites

    2. 2.2 Application

      1. 2.2.1 Motors

      2. 2.2.2 Transducers

      3. 2.2.3 Sensors

      4. 2.2.4 Building Materials

    3. 2.3 End-user Industry

      1. 2.3.1 Agriculture and Food

      2. 2.3.2 Construction and Infrastructure

      3. 2.3.3 Healthcare

      4. 2.3.4 Leisure and Sports

      5. 2.3.5 Automotive

      6. 2.3.6 Aerospace and Defense

      7. 2.3.7 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Russia

        6. 2.4.3.6 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Piezoelectric Smart Materials Market Size FAQs

The Piezoelectric Smart Materials Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

APC International, Ltd. , CeramTec GmbH, CTS Corporation, KYOCERA Corporation and Arkema are the major companies operating in the Piezoelectric Smart Materials Market.

Piezoelectric Smart Material Market Report Snapshots

Piezoelectric Smart Material Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)