The piezoelectric ceramics market is valued around USD 1,498.6 million in 2023, which will reach USD 2,098.5 million by 2030, driving at a rate of 5.2%.
As a result of the increasing consumer requirement for smart devices, smartphones, wearable electronics, and IoT devices, the electronics industry is increasing incessantly. Actuators, sensors, and transducers play an important role in these gadgets; hence, the requirement for dependable and effective sensing & propulsion capabilities in electronic goods powers the industry.
Hence, PZT is perfectly suitable for sensors used for measurement and control purposes, as it makes a suitable electrical charge when subjected to vibration or mechanical pressure.
PZT can also be used to optimize energy conversion in consumer electronics, bear severe vibrations in vehicle sensors, and be biocompatible in medical implants.
In the application segment, capacitors will have a robust growth, because of the increasing requirement for cutting-edge capacitors in electronic products. For making capacitors with sufficient energy storage, these are advantageous.
APAC is the leader of the industry with a share of 45%, in 2023, and it will grow at a rate of 5.8% by the end of this decade. This has a lot to do with the robust manufacturing capacities and supportive industrial infra. The main electronics manufacturing nations are Japan, China, and South Korea, producing numerous consumer electronics and automobile parts.
Therefore, the development of these sectors generates a high requirement for piezoelectric ceramics. The requirement for smartphones, wearable technology, tablets, and other devices is powered by the massive population and growing middle class, making the region the world's leading consumer electronics market.
Due to the rising demand for consumers for smart devices, the requirement for piezoelectric ceramics will continue to grow in the years to come as well.