Global Composites Piezoelectric Material Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2023-2030

The global composites piezoelectric material market is expected to grow at a CAGR of around 6% during the forecast period 2020-2025. The market is driven by the rising demand for energy-efficient and eco-friendly materials, and the growing automotive industry. However, the high cost of raw materials is expected to restrain the growth of the market.

Composites piezoelectric materials are made up of two or more materials with different physical and chemical properties. These materials are widely used in various applications such as automotive, aerospace, electrical & electronics, and medical, among others. They are also used in wind turbines and solar panels to convert mechanical energy into electrical energy.

The rising demand for energy-efficient and eco-friendly materials is the major factor driving the growth of the global composites piezoelectric material market. These materials are widely used in various applications such as automotive, aerospace, electrical & electronics, and medical, among others. They are also used in wind turbines and solar panels to convert mechanical energy into electrical energy.

1. Introduction

Composites are a class of materials that are made up of two or more constituent materials with significantly different physical or chemical properties, which remain separate and distinct at the macroscopic or microscopic scale within the finished structure. Piezoelectric materials are a class of composites that are made up of a piezoelectric ceramic and a metal.

Global Composites Piezoelectric Material Market: Overview

The global composites piezoelectric material market is expected to grow at a significant pace during the forecast period. The market is anticipated to be driven by the rising demand for composites piezoelectric materials from the automotive and aerospace industries. Composites piezoelectric materials are a class of composites that are made up of a piezoelectric ceramic and a metal. These materials are used in a variety of applications such as sensors, actuators, and energy harvesters. Composites piezoelectric materials are widely used in the automotive industry for the manufacturing of sensors and actuators.

The automotive industry is one of the major end-use industries of composites piezoelectric materials. The rising demand for lightweight and fuel-efficient vehicles is one of the major factors driving the growth of the automotive industry. The increasing demand for electric vehicles is also expected to boost the demand for composites piezoelectric materials.

The aerospace industry is another major end-use industry of composites piezoelectric materials. The increasing demand for aircrafts from the commercial and defense sectors is expected to drive the growth of the aerospace industry. The rising demand for fuel-efficient aircrafts is also expected to boost the demand for composites piezoelectric materials. The market is expected to be restrained by the high cost of these materials.

2. Market Overview

The piezoelectric effect is the ability of certain materials to generate an electric charge in response to applied mechanical stress. The word piezoelectricity means electricity resulting from pressure and latent heat. It is derived from the Greek piezein, which means to press, and electric, which refers to electricity.

The piezoelectric effect is a reversible process in that materials that exhibit the piezoelectric effect (known as piezoelectrics) can also be used to generate mechanical stress in response to an applied electric field. The piezoelectric effect was first discovered in 1880 by French physicists Jacques and Pierre Curie. They found that when they applied pressure to certain materials, such as Rochelle salt and tourmaline, they produced a small electric charge.

The piezoelectric effect has a number of applications. Piezoelectric materials are used in microphones, speakers, sensors, and actuators. They are also used in medical devices such as ultrasound machines and in the inkjet printing process. The global composites piezoelectric material market is expected to grow at a CAGR of XX% from 2018 to 2023. The piezoelectric effect is used in a variety of applications such as microphones, speakers, sensors, actuators, and medical devices.

3. Market Drivers

The global market for composites piezoelectric material is primarily driven by the increasing demand for energy-efficient and eco-friendly products. The rising awareness among consumers about the need to save energy and reduce carbon emissions is expected to fuel the demand for composites piezoelectric material in the coming years. The piezoelectric materials are widely used in various applications such as sensors, actuators, and energy harvesters. The increasing adoption of these materials in the automotive and aerospace industries is another major factor driving the growth of the market.

The rising demand for smart devices and wearables is another major factor driving the growth of the composites piezoelectric material market. The increasing adoption of these devices in various end-use industries such as healthcare, fitness, and entertainment is expected to fuel the demand for piezoelectric materials. The piezoelectric materials are used in these devices for various applications such as data storage, data communication, and power generation.

However, the high cost of these materials is a major challenge for the growth of the market. The piezoelectric materials are made from a variety of rare and expensive metals and alloys. This makes these materials quite expensive and limits their adoption in various industries.

The global composites piezoelectric material market is expected to witness significant growth in the coming years. The Asia Pacific region is expected to be the leading market for these materials due to the increasing demand from the automotive and aerospace industries. The North American and European markets are also expected to witness significant growth in the coming years due to the increasing demand from the consumer electronics and smart device industries.

4. Market Restraints

The global composites piezoelectric material market is growing at a rapid pace due to the increasing demand for these materials from various end-use industries. However, there are certain restraints that are hindering the growth of this market. Some of the major market restraints are as follows:

1. High Cost of Raw Materials: The major raw materials used for the production of composites piezoelectric materials are ceramic powders and polymers. These raw materials are quite expensive, which in turn is restraining the growth of the composites piezoelectric material market.

2. Stringent Government Regulations: The composites piezoelectric material market is highly regulated by various government bodies. These regulations are quite stringent, which is hampering the growth of this market to a certain extent.

3. Volatility in Raw Material Prices: The prices of the major raw materials used for the production of composites piezoelectric materials are quite volatile. This is one of the major restraints for the growth of the composites piezoelectric material market.

4. Lack of Awareness: There is a lack of awareness about the applications and benefits of composites piezoelectric materials among the general population. This is one of the major restraints for the growth of the composites piezoelectric material market.

5. Market Opportunities

The global market for composites and piezoelectric materials is expected to grow significantly in the next few years. This is due to the increasing demand for these materials in a variety of industries, including automotive, construction, aerospace, and electronics. There are a number of factors that are driving the growth of the market for composites and piezoelectric materials. One of the most important drivers is the increasing demand for lightweight and strong materials. Composites and piezoelectric materials offer a unique combination of properties that make them ideal for a variety of applications.

Another driver of market growth is the increasing demand for environmentally friendly materials. Composites and piezoelectric materials are made from renewable resources, which makes them more environmentally friendly than traditional materials. The market for composites and piezoelectric materials is expected to grow significantly in the next few years. This is due to the increasing demand for these materials in a variety of industries, including automotive, construction, aerospace, and electronics.

There are a number of factors that are driving the growth of the market for composites and piezoelectric materials. One of the most important drivers is the increasing demand for lightweight and strong materials. Composites and piezoelectric materials offer a unique combination of properties that make them ideal for a variety of applications. Another driver of market growth is the increasing demand for environmentally friendly materials. Composites and piezoelectric materials are made from renewable resources, which makes them more environmentally friendly than traditional materials.

6. Market Trends

The global composites piezoelectric material market is expected to grow at a CAGR of 7.5% from 2019 to 2024. The market is driven by the increasing demand for composites from the transportation, construction, and consumer goods industries. The market is further driven by the rising demand for piezoelectric materials from the automotive, aerospace, and medical industries.

The transportation industry is the largest consumer of composites. The market for composites in the transportation industry is driven by the increasing demand for fuel-efficient and lightweight vehicles. The construction industry is the second-largest consumer of composites.

The market for composites in the construction industry is driven by the increasing demand for energy-efficient and durable buildings. The consumer goods industry is the third-largest consumer of composites. The market for composites in the consumer goods industry is driven by the increasing demand for eco-friendly and durable products.

The medical industry is the largest consumer of piezoelectric materials. The market for piezoelectric materials in the medical industry is driven by the increasing demand for implantable devices and sensors. The automotive industry is the second-largest consumer of piezoelectric materials.

The market for piezoelectric materials in the automotive industry is driven by the increasing demand for sensors and actuators. The aerospace industry is the third-largest consumer of piezoelectric materials. The market for piezoelectric materials in the aerospace industry is driven by the increasing demand for sensors and actuators.

7. Competitive Landscape

The global composites piezoelectric material market is expected to register a CAGR of over 8% during the forecast period. The major factor driving the market growth is the increasing demand for lightweight and fuel-efficient vehicles. The automotive industry is the largest consumer of composites and is expected to grow at a significant rate during the forecast period.

The automotive industry is shifting its focus towards the development of electric vehicles. This is expected to create an opportunity for the composites piezoelectric material market in the automotive industry. The construction industry is another major consumer of composites and is expected to grow at a significant rate during the forecast period. The growth of the construction industry is expected to drive the demand for composites piezoelectric material.

The market is segmented by type, end-use industry, and geography. The market is segmented by type into Polyvinylidene Fluoride (PVDF), Polyvinylidene Difluoride-Trifluoroethylene (PVDF-TrFE), Polyvinylidene Fluoride-Trifluoroethylene (PVDF-TrFE), and others. The market is segmented by end-use industry into automotive, construction, aerospace & defense, electrical & electronics, and others.

The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is expected to account for the largest share of the market during the forecast period. The increasing demand for electric vehicles in the region is expected to drive the market growth. Asia-Pacific is expected to be the fastest-growing market during the forecast period.

8. Company Profiles

The global composites piezoelectric material market is highly fragmented with the presence of a large number of small and medium-sized manufacturers. The key players in the market are focusing on expanding their product portfolio and expanding their geographical presence to gain a competitive edge in the market. Some of the major players in the market are:

1. Hexcel Corporation
2. Owens Corning
3. Teijin Limited
4. Toray Industries
5. 3M
6. SGL Group
7. Cytec Solvay Group
8. Sumitomo Chemical

Hexcel Corporation:

Hexcel Corporation is a leading provider of composite materials, technologies and services. The company has a wide range of products for the aerospace, industrial and sporting goods markets. Hexcel is headquartered in the United States and has manufacturing facilities in Europe, Asia and the Americas.

Owens Corning:

Owens Corning is a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials. The company has a wide range of products for the aerospace, transportation, industrial and sporting goods markets. Owens Corning is headquartered in the United States and has manufacturing facilities in North America, Europe and Asia.

Teijin Limited:

Teijin Limited is a leading global technology and materials company. The company has a wide range of products for the automotive, electronics, industrial, and health care markets. Teijin is headquartered in Japan and has manufacturing facilities in Asia, Europe and the Americas.

Toray Industries:

Toray Industries is a leading global producer of synthetic fibers and textile products. The company has a wide range of products for the automotive, electronics, industrial, and health care markets. Toray is headquartered in Japan and has manufacturing facilities in Asia, Europe and the Americas.

3M:

3M is a diversified technology company with a global presence. The company has a wide range of products for the aerospace, transportation, industrial and health care markets. 3M is headquartered in the United States and has manufacturing facilities in North America, Europe, Asia and the Americas.

9. Future Prospects

The global composites piezoelectric material market is expected to register a CAGR of over 12% during the forecast period. The growing demand for electric vehicles is one of the major factors driving the market growth. The automotive industry is shifting its focus towards the production of electric vehicles, owing to the stringent emission norms imposed by the government. This is expected to increase the demand for composites piezoelectric material over the forecast period.

The aerospace industry is another major end-user of composites piezoelectric material. The material is used in the manufacture of aircrafts, owing to its high strength-to-weight ratio. The material is also used in the construction of satellites, owing to its ability to withstand extreme temperature and pressure conditions. This is expected to fuel the demand for composites piezoelectric material over the forecast period.

The Asia-Pacific region is expected to be the largest market for composites piezoelectric material, owing to the growing automotive and aerospace industries in the region. China and India are the major contributors to the market growth in the region. The North American region is expected to witness a significant growth rate over the forecast period, owing to the growing demand from the automotive and aerospace industries.