Piezoelectric Alloy Powder Market

Piezoelectric Alloy Powder Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Piezoelectricity refers to a crystal that generates a voltage in response to applied mechanical stress. Nonconductive material only exhibits piezoelectric effect. These materials are categorized into ceramics and crystals. The most popular piezoelectric material is quartz (SiO2).
Piezoelectric alloy powder is extensively used in various industries including healthcare, automobile, industrial, and consumer electronics due to its ability to alter various properties such as viscosity and conductivity as per requirement in end-use applications.

Extensive investments in the R&D sector to innovate smart materials that can alter one or more of its properties according to requirements, due to external stimulus from various industries (including healthcare and consumer electronics) is expected to drive the piezoelectric alloy powder market during the forecast period.
Increase in investments in industrial sectors such as automotive and consumer electronics due to rapid urbanization and strong purchasing power parity is also likely to fuel market growth. Piezoelectric alloy powder is used in various applications such as electronic frequency generation, generation of high voltages, and ultrafine focusing of optical assemblies across industries.
High cost associated with manufacturing of smart materials along with availability of substitutes such as inherently conductive polymers and dielectrics in manufacturing actuators is anticipated to hamper the market during the forecast period.

The global piezoelectric alloy powder market can be segmented based on type, application, end-user, and region
In terms of type, the global piezoelectric alloy powder market can be divided into ceramic and crystal. Ceramic is one of the most extensively used piezoelectric alloy powder because it is cost effective, chemically inert, and physically strong in nature. Ceramics are suitable for inspections of aerospace, structural & automotive products, and in ultrasonic nondestructive testing/evaluation applications.
On the basis of application, the global piezoelectric alloy powder market can be classified into transducers, actuators & motors, sensors, and structural materials. Actuators & motors segment is anticipated to witness growth due to increase in demand for industrial automation.
In terms of end-user, the global piezoelectric alloy powder market can be divided into healthcare, aerospace & defense, industrial, automotive, consumer electronics, and others. Consumer electronics segment is expected to witness significant growth due to growing inclination toward using smart electronic devices, changing lifestyle preferences, rising disposable income, and an expanding middle class.

In terms of region, the global piezoelectric alloy powder market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
The piezoelectric alloy powder market in North America is expected to expand at a significant pace during the forecast period. This growth of the market can be attributed to the introduction of various research programs by U.S. based organizations such as the Defense Advanced Research Projects Agency (DARPA) and The National Science Foundation (NSF) to promote the industrial and commercial usage of smart materials.
The market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period due to rise in consumer preference for gadgets and automated & high-end machines. Moreover, rapid industrialization and urbanization primarily in developing nations such as India and China is also anticipated to fuel the market growth.
The piezoelectric alloy powder market in Europe is projected to witness growth during the forecast period due to shift in trend toward adoption of sustainable technologies.
The piezoelectric alloy powder market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period.