Piezoelectric materials: Key market research findings
- Increase in demand from military and aerospace sector
- Growing dominance in the transportation sector
Technavio has released a new market research report on the global piezoelectric smart materials market, which is expected to grow at a CAGR of 13% between 2016 and 2020. Piezoelectric materials are widely used in sensors, and help in measuring fluid density, fluid viscosity, the force of impact, and fluid composition. With the rising investment in R&D augmented demand from the automotive industry, the demand for smart materials is expected to increase considerably during the forecast period. The Americas dominate the global piezoelectric smart materials market, occupying around 47% of the total market share. Much of the region’s demand comes from the increased focus on piezoelectric technologies.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Materials with enhanced functional properties such as shape memory, electrochromism, and piezoelectricity, are gaining demand in the aerospace industries. These materials help in controlling the airflow across the wings of an aircraft, maintaining it in take-off, flying, and landing more efficiently and with less noise. These materials are used to dissolve issues related to engine vibration, high cabin noise levels, ice formation on wings, flow separation due to turbulence, and control surfaces in cold climatic conditions. The piezoelectric materials are used in applications such as smart sensors, smart nanorobotics, smart combat suits, and smart skins,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
The global piezoelectric smart materials market for the transportation segment is expected to grow due to the rise in demand for smart materials in active suspension systems. Moreover, the continued use of MEMS technology for automotive applications will drive demand in this segment. The increase in the manufacture of automobiles will transfer into the demand for piezoelectric materials during the forecast period. This segment is expected generate revenues of $9 billion, growing at a CAGR of 13% during the forecast period.
The key vendors in the global piezoelectric smart materials market are AAC Technologies, Advanced Cerametrics, Arkema, Kyocera and Solvay. The market is concentrated with only a few major players. The competition comes mostly from companies in North America and is based largely on technological advancements in the products and competitive prices. The start-up organizations developing from research institutes provide close competition in terms of innovation and technology.
A more detailed analysis is available in the Technavio report, Global Piezoelectric Smart Materials Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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