Thin Film Piezoelectric Devices Market

Thin Film Piezoelectric Devices Market Size (2023-2028):

The Global Thin Film Piezoelectric Devices Market share value is expected to grow at a CAGR of 14.30% during the forecast period 2023–2028 to reach USD 10058.05 million by 2028 from USD 4510.62 million in 2022.

Market Overview:

Thin film piezoelectric devices are those devices that use thin films of piezoelectric materials to convert electrical energy into mechanical energy or vice versa. The piezoelectric effect is the ability of certain materials to generate an electric charge when they are subjected to mechanical stress or when an electric field is applied to them. These thin film piezoelectric devices have wide applications and are used as sensors to measure physical quantities such as acceleration, pressure, strain, and temperature. They are used in a variety of applications, including automotive safety systems, medical devices, and industrial process control. It is also used as an actuator to generate mechanical motion in micro-pumps, micro-motors, and vibration control systems. Along with this, it is widely used as a transducer in ultrasonic imaging, sonar, and energy harvesting due to its ability to convert one form of energy to another. Moreover, thin film devices are much smaller and lighter than bulk devices, which makes them ideal for applications where space and weight are limited. The flexibility of this device makes it suitable for applications where contact is required.

Recent Developments in Thin Film Piezoelectric Devices Industry:

• In August 2022, Scientists in Taiwan created a novel thin-film piezo-gated transistor capable of operating in both dual accumulation and depletion modes, enabling effective switching functionality.
• In December 2019, Silex Microsystems AB and ULVAC Inc. signed a partnership agreement for the development of the production of a thin film piezoelectric process. The objective of this collaboration was to enhance the performance and dependability of MEMS actuators and sensors with state-of-the-art capabilities.
• In August 2019, ULVAC Inc. introduced PZT piezoelectric thin film process technology, accompanied by a high-volume manufacturing (HVM) solution. This was aimed at resolving challenges that had been disrupting the progress of MEMS devices, which have applications in fields like autonomous driving and next-generation wearable devices. The innovation has the potential to enable MEMS devices to offer advantages such as decreased production expenses, reduced energy usage, as well as superior performance, and miniaturization.

REPORT COVERAGE:

Drivers:

One of the major driving factors affecting the growth of the thin film piezoelectric devices market is the growing demand for wearable devices. These devices track and monitor health, fitness, and activities such as heart rate, blood pressure, step counting, and gesture recognition. As more and more consumers are becoming health conscious, it has led to the adoption of such wearable devices. As thin film piezoelectric devices are small, lightweight, and low power, they make an ideal material for such applications. These wearable devices monitor the heart rate and variability, which is useful for patients suffering from heart disorders. Along with this, it also monitors blood pressure. For people who are fitness enthusiasts, thin-film piezoelectric sensors can easily monitor steps and track physical activity. These devices, made from thin film piezoelectric materials, are used widely in homecare settings and old age homes to detect accidents and falls, which can be used to alert caregivers or emergency services.

Another significant factor fueling the thin film piezoelectric devices market demand is the growing medical devices market due to the demand for innovative and advanced devices that can improve the diagnosis, treatment, and monitoring of diseases. Thin film piezoelectric devices are being used in a variety of medical devices because they are small, precise, and biocompatible. Because of this, it is used as a transducer in ultrasonic imaging, such as ultrasound scanners and endoscopes. With growing research and development, researchers are using thin film piezoelectric actuators in drug delivery devices such as implantable pumps and microneedles to deliver drugs to specific targets. It is also used in implantable sensors, such as pacemakers and defibrillators. Also, these devices are used as a sensor to diagnose diseases, monitor drug levels, and track the progression of diseases. Thus, the expanding growth of the medical devices market is positively impacting the thin film piezoelectric devices market size.

Moreover, thin film piezoelectric devices are much thinner and lighter than bulk piezoelectric devices because they are made from a very thin layer of piezoelectric material. This makes them ideal for applications where space and weight are limited, such as wearable devices, medical devices, and aerospace and defense applications, and hence causes an increase in the thin film piezoelectric devices market growth.

Restraints:

Thin film piezoelectric devices are in high demand due to their use in a variety of demanding applications across different industries. However, the high initial investment required for their development is a major restraining factor to their thin film piezoelectric devices market growth. The growing demand for highly precise piezoelectric devices with advanced technological features has led to increased manufacturing costs. This is because the development of such devices requires the use of expensive materials and advanced manufacturing processes. In addition, the high cost of materials used to make thin film piezoelectric devices also contributes to the high manufacturing costs. This makes it difficult for manufacturers to adopt and develop these devices on a large scale. Along with this, the materials used to make thin film piezoelectric devices are not widely available, as these materials are rare and difficult to extract. For example, lead zirconate titanate (PZT), a common piezoelectric material, is made from lead, which is a heavy metal and is rarely available. Some of these materials are expensive to produce, such as piezoelectric materials made from organic polymers, which are more expensive than those made from inorganic materials. Moreover, some of these materials are not compatible with existing manufacturing processes, as some piezoelectric materials are sensitive to heat, which makes it difficult to process using conventional methods. Overall, the high initial investment and manufacturing costs and the availability of the material are the major challenges that are disrupting the growth of the thin film piezoelectric devices market.

Opportunities:

Piezoelectric devices are a type of energy harvester that can convert mechanical energy into electrical energy. When a piezoelectric material is subjected to mechanical stress, such as vibration, it generates an electric charge. This charge can then be used to power an electronic device. This property of piezoelectric devices has created an opportunity in the thin film piezoelectric devices market for creating self-portable and self-powered electronic devices. This thin film piezoelectric has an energy harvesting property that converts energy, such as vibration, light, or heat, into electrical energy to power small electronic devices, such as sensors, actuators, and medical implants, without the need for batteries or other power sources. Thin film piezoelectric devices are made from thin layers of piezoelectric material. This makes them lightweight, flexible, and easy to integrate into small devices. As a result, it makes an ideal choice for energy harvesting applications.

Impact of COVID-19 on Thin Film Piezoelectric Devices Market:

The outbreak of the COVID-19 pandemic has had a significant impact on the thin film piezoelectric devices market; due to the implementation of lockdown and travel restrictions, the global supply chain was impacted, creating a shortage in the raw material required for manufacturing of piezoelectric devices. This led to a decline in the market demand. Moreover, social distancing measures to restrict the spread of the virus hindered the manufacturing process and production capacity. Also, the reduced workforce and labor further affected the factory operations and caused a decline in the sales of thin film piezoelectric devices. In addition, because of economic disruptions and instability, consumers' purchasing capacity decreased, which directly caused a decline in the demand for piezoelectric devices. This pandemic had a negative impact on thin film piezoelectric market growth.

Thin Film Piezoelectric Devices Market Segmentation Analysis:

By Type:

• Piezoelectric sensors
• Piezoelectric actuators
• Piezoelectric transducers
• Others

The piezoelectric sensors hold the highest market share with the increasing demand in a variety of applications, such as healthcare, industrial, and consumer electronics. Piezoelectric sensors are also used in a wide range of healthcare applications, such as blood pressure monitors, ultrasound transducers, and drug delivery systems. In industrial applications, piezoelectric sensors are used in a variety of applications, such as valves, pumps, and robotics. In consumer electronics applications, piezoelectric sensors are used in a variety of applications, such as microphones, speakers, and headphones. The other segments of the thin film piezoelectric devices market, such as piezoelectric actuators and piezoelectric transducers, are also expected to grow at a significant rate in the forecasted period.

By Materials:

• Ceramics
• Polymers
• Others

The ceramic dominated the market share as ceramics have high piezoelectric properties, making them well-suited for a variety of applications, including sensors, actuators, and transducers. Ceramics are reliable and durable, making them an ideal choice for long-term applications. The polymers segment also has a significant market growth rate during the forecast period.

By End Users:

• Healthcare
• Consumer Electronics
• Aerospace and Defense
• Others

The healthcare segment is dominating the market share due to the increasing demand for piezoelectric sensors in healthcare applications, such as blood pressure monitors, ultrasound transducers, and drug delivery systems. The consumer electronics because of the increasing demand for piezoelectric sensors in consumer electronics applications, such as microphones, speakers, and headphones. At the same time, the aerospace and defense segment is also expected to grow at a significant rate in the forecasted period because of increasing demand for piezoelectric sensors in aerospace and defense applications, such as sonar systems and radar systems.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Asia Pacific is ruling with the dominant shares of the market owing to the growing number of electronic companies. Countries like India, China, and Japan are the fastest-growing electronics markets in the world. This is driving the demand for thin film piezoelectric devices in consumer electronics applications, such as smartphones, tablets, and laptops. Also governments in these regions are also supporting the development of thin film piezoelectric devices that are merely propelling the market demand. The Indian government has launched a program to promote the use of thin film piezoelectric devices in energy harvesting applications. North America has the largest market share due to the growing demand for piezoelectric sensors in a variety of applications, such as healthcare, industrial, and consumer electronics. Europe has seen significant market growth since European countries have growing research and development activities in drug discovery. Latin America has steady market growth, whereas the Middle East and Africa have a low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Thin Film Piezoelectric Devices Market are

• Broadcom Inc
• Qorvo
• Rohm Semiconductor
• Baumer Group
• Applied Materials
• CeramTec Group (BC Partners)
• CTS Corporation
• Epson (Seiko Group)
• Robert Bosch GmbH
• FUJIFILM Dimatix Inc (FUJIFILM Corporation)