Lead Zirconate Titanate Market

Lead Zirconate Titanate market size is forecast to reach US$521 million by 2027, after growing at a CAGR of 5.4% during 2022-2027. Lead zirconate titanate (or barium titanate) is a crystal oscillator, which has a perovskite crystal structure. Piezoelectric materials acquire a charge when they are compressed, twisted, or distorted. Due to these properties, its demand is accelerating applications such as consumer goods, ultrasonic transducers, and aerospace & defense. Also, the market is being spurred by factors such as the growing medical & healthcare industry in emerging economies, increasing demand for automotive, and the growing use of lead zirconate titanate in electrical & electronics applications. Furthermore, it is projected that the bolstering marine industry will also contribute towards lead zirconate titanate market growth during the forecast period. However, the lead zirconate titanate (or barium titanate) industry is expected to face tough restraints due to current trends of lead-free piezoelectricity materials.

COVID-19 Impact

COVID-19's outbreak in 2020 has had an impact on the global economy and demand scenario in major industries around the world. The global lockdown and restriction of industrial operations, trade activities, supply-chain disruption, and other activities have culminated in the pandemic scenario. During this circumstance, the key end industries of lead zirconate titanate, such as electrical & electronics, automotive, aerospace, and more were also influenced. The market has been impacted by a drop in demand from the electrical & electronic industry, lower demand from the automotive sector, and a temporary halt in aerospace manufacturing across the world for a few months in 2020. As a result of slow demand from end-use industries, the lead zirconate titanate market grew at a slower pace in 2020. The market, on the other hand, is recovering, and businesses have resumed operations with reduced capacity and under government guidelines. As a result, the market is expected to grow at a rapid rate over the forecast period.

Lead Zirconate Titanate Market Report Coverage

The report: “Lead Zirconate Titanate Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Lead Zirconate Titanate market.

By Type: Hard Lead Zirconate Titanate (High Power), and Soft Lead Zirconate Titanate (High Sensitivity)

By Packaging: Jars, Pails, Drums, Bags, and Others

By Application: Transducers, Sensors, Actuators, Capacitors, Filters, Resonators, and Others

By End-Use Industry: Automotive (Passenger Vehicles (PV), Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), Aerospace (Commercial Aircrafts, Helicopters, Rotorcrafts, and Others), Marine (Sonar, Beacons, and Others), Oil & Gas, Medical & Healthcare (Tissue Ablation, Surgery, Imaging, and Others), Electrical & Electronics (Speakers and Microphones, Computers, and Others), Consumer Goods, Military & Defense, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

North America dominates the lead zirconate titanate market, owing to the increasing demand for electrical & electronic products in the region. This can be attributed to the growing per capita income of individuals and changing lifestyles coupled with the increasing population.

Research and development of lead-free piezoelectricity materials can decline the growth of lead zirconate titanate crystal oscillators in the upcoming years.

However, the global lead zirconate titanate (or barium titanate) market is anticipated to witness growth unless the regulatory agencies force the manufacturers to use alternatives.

Furthermore, sodium tungstate is used in manufacturing sensors, actuators, and ultrasonic transducers that are then used in the automotive, medical, electronics, and aerospace industries. These vast applications of lead zirconate titanate will also flourish its market growth.

The hard lead zirconate titanate (high power) segment held a significant share in the lead zirconate titanate market in 2020, as hard PZT often shows lower but more stable properties after aging. Domain wall motion is pinned by impurities in hard PZT, which reduces the material's losses. Local defect fields built up during the aging process in hard PZT ceramics can stabilize the ceramic against external stress depoling, resulting in a significant increase in the piezoelectricity coefficient and electromechanical coupling factor in the stressed ceramic. All of these perks related to hard lead zirconate titanate (high power) are gaining traction for hard lead zirconate titanate (high power) market growth.

The sensor segment held a significant share in the lead zirconate titanate market in 2020 and is forecasted to grow at a CAGR of 5.9% during 2022-2027. Lead zirconate titanate (Pb (Zr1-xTix) O3 or PZT) ferroelectric ceramics have been widely used in sensors since they possess high dielectric and piezoelectricity properties with a relatively high temperature of operation. In addition, lead zirconate titanate sensors offer fast response times and are thus ideally adapted for pulsed photoacoustics. Furthermore, the sensors segment is growing at a considerable CAGR owing to its application in various applications such as automobile, electrical & electronics, marine, consumer goods, aerospace, and more. Thus, all these factors associated with lead zirconate titanate (or barium titanate) based sensors coupled with the increasing demand for sensors from various end-use industries, is the major factor driving its market growth during the forecast period.

The electrical & electronics segment held the largest share in the lead zirconate titanate market in 2020 and is forecasted to grow at a CAGR of 6.5% during 2022-2027. Electrical and electronic items such as TVs, washing machines, remote-controlled toys, and microwaves utilize lead zirconate titanate to provide control and proper functioning of these products. According to the Japan Electronic Information Technology Association (JEITA), the production of electronic devices increased from 293,807 million yen (US$2.6 Billion) in May 2022 to 333,008 million yen (US$3.0 Billion) in June 2022. Thus, with increasing per capita income of consumers spending and large-scale consumption of such electrical and electronic items, the segment is expected to maintain its lead in the market. Also, the automotive segment is anticipated to grow at a considerable rate, owing to the requisition of these materials for actuators, fuel injectors, sensors, and braking systems present in the automobile. Furthermore, these materials are used in a variety of automotive parts, including fuel atomizers, seat belt buzzers, airbag sensors, and tire pressure sensors, thus resulting in the automotive industry holding a considerable share in the global market.

North America region held the largest share in the lead zirconate titanate market in 2020 up to 35%, owing to the higher applications of sensors into a wide range of instruments being used in the region coupled with higher demand for electrical & electronic products in the region. According to the Government of Canada, revenues in the ICT sector reached an estimated US$210 billion in 2019. ICT sector revenues grew from US$158 billion to US$200 billion from 2013 to 2018, a 26.9 percent increase. According to the International Trade Administration (ITA), the sale of computer hardware sales increased from US$4.3 billion in 2017 to US$4.6 billion in 2019. Also, the Mexican IT market value increased from US$11.4 billion in 2017 to US$12.9 billion. Thus, it is evident from the above statistics that the electrical and electronics industry is flourishing in the region, which is accelerating the demand for lead zirconate titanate in North America during the forecast period.

Lead Zirconate Titanate Market Drivers

Increasing Electric Vehicle Production

Lead zirconate titanate is often used to manufacture sensors and actuators. And actuators and sensors are a vital component of electric vehicles. The production and adoption of electric vehicles are anticipated to increase globally. For instance, according to Invest India, between 2020 and 2027, the Indian EV market is expected to grow at a CAGR of 44 percent, with annual sales reaching 6.34 million units by 2027. By 2030, the electric vehicle industry will have created five crore direct and indirect jobs. California has mandated that all new passenger vehicles sold in the state should be 100% electric by 2035. The American Jobs Plan, which was recently unveiled, proposes US$174 billion in incentives, rebates, and investments to encourage the production and adoption of electric vehicles. GM has also proposed that by 2035, all diesel and gasoline-powered cars are phased out and the company's entire fleet be converted to electric vehicles. Thus, it is anticipated that a gradual shift towards electric vehicles will strengthen the demand for lead zirconate titanate to manufacture sensors and actuators, which as a result will drive the market.

Flourishing Aerospace Sector

In the aerospace industry, lead zirconate titanate is desired for the production of actuators, transducers, piezo accelerometers, and other products. And these products are an essential component of aircraft that aid in properly monitoring and controlling the aircraft. The demand for aircraft is on an upsurge in various regions. For instance, in November 2020, Boeing projected that China's airlines will buy US$1.4 trillion worth of 8,600 new aircraft and US$1.7 trillion worth of commercial aviation services over the next 20 years. According to Boeing's current business forecast, the Middle East would need 2,520 new aircraft by 2030. Also, Boeing India is expected to drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years. According to Boeing in 2020 8,995 aircraft fleet were delivered in North America, which is estimated to reach 10,610 fleets by 2039. Considering the importance associated with lead zirconate titanite-based actuators, transducers, piezo accelerometers in airplanes, it is expected that the increasing aerospace industry will act as a driver for the lead zirconate titanate market.

Lead Zirconate Titanate Market Challenges

Inability to Distinguish between Signals and Noise

While piezoelectric materials are being used in energy harvesting and conversion devices, commonly used materials like PZT and natural piezo crystals cannot make a distinction between actual signals and noise in the framework, resulting in an apparent paradox and affecting the device's effectiveness. Furthermore, when exposed to severe environments such as high temperatures and high stress, the predictability of the material's results is severely compromised, further limiting its use in such situations. Thus, this lack of inability to distinguish between signals and noise becomes a significant challenge for the lead zirconate titanate market.

Lead Zirconate Titanate Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the lead zirconate titanate market. Lead zirconate titanate market top companies include:

• APC International, Ltd.
• L3Harris Technologies, Inc.
• CeramTec
• PI Ceramic GmbH
• Arkema
• Solvay
• Mad City Labs Inc.
• Piezosystem jena GmbH
• Piezomechanik GmbH
• Sparkler Ceramics

Acquisitions/Technology/Product Launches

In Jul 2019, PI Ceramic GmbH announced the expansion of its production facility present in Lederhose, Thuringia. The expansion shall increase the facility’s area from 12,000 sq.m. to 19,500 sq.m. The additional area is to have an additional line for the production of multilayer piezoelectric materials and an administrative center.


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