All the dielectric materials are electrostrictive materials, which cause electrostriction when the displacement of ions occurs in the crystal lattice during exposure to an external electric field. Cation moves towards the direction of the electric field, while anion moves away from the electric field. Electrostriction is similar to piezoelectricity; the main difference is that electrostriction is a quadratic effect, while piezoelectricity is a linear effect. Therelaxor ferroelectrics are considered electrostrictive material as they have extraordinarily high electrostrictive constants. The most commonly used electrostrictive include lead magnesium niobate (PMN), lead magnesium niobate lead titanate (PMN-PT), and lead lanthanum zirconate titanate (PLZT).
The global electrostrictive materials market is expected to grow at a CAGR 2.8% during the forecast period, 2023–2031.
The demand for actuators is increasing across several industries, including automotive, electronics, information and telecommunication, aerospace and defense, and healthcare. The actuators provide control and movement of a mechanism or system. It requires a control signal and a source of energy to operate. Different types of actuators, such as hydraulic actuators, pneumatic, electrical, thermal, and mechanical actuators, are developed using electrostrictive material for various applications. For instance, mechanical actuators are used in the rack and pinion steering systems. The demand for robotics is increasing in the industrial automation sector, further driving the demand for electrostrictive materials. As per Statista, in 2019, the market size of actuators was around USD 49.2 billion globally and is expected to reach USD 74.5 billion by 2024.
The burgeoning information and telecommunication industry across the globe is the key factor driving the electrostrictive market growth. As per Statista, in 2018, the telecom services segment generated revenue of around USD 1,293 billion globally. Moreover, the global telecom services spending in 2018 was USD 1,615 billion. India held the largest share in the telecommunication market, further unlocking umpteen opportunities for electrostrictive materials manufacturers. As per the data provided by IBEF, India’s gross revenue generated from the telecommunication sector stood at USD 17.4 billion in FY2020. The country is also the second-largest telecommunication market, with around 1,177 million subscribers as of January 2020.
The coronavirus outbreak has created havoc across the globe. The pandemic has impacted almost every industry to a greater extent. Various industries are facing downfall due to nationwide lockdowns, lack of production due to lack of workforce, economic slowdown, decelerating consumer spending, and disruption in the supply chain.
The demand for electrostrictive materials is expected to decrease during the pandemic as the end-user industries, such as automotive, aerospace and defense, and consumer electronics, are going through tough times. Sales of products from these industries have decreased recently. Various automobile factories have shut down, and the production has decelerated. As per Statista, in 2020, the demand for automobiles in North America was estimated to be approximately 16.4 million units, which are almost 3.8 million units less than in 2019. Moreover, in April 2020, the U.S. (one of the major automotive markets in the world both in production and sales) automotive industry output was roughly 4,300 units.
However, the market is expected to be recovered by the mid of 2021 on account of the burgeoning demand for electrostrictive materials from the healthcare sector for the manufacturing of several devices. The surging need for automated coronavirus screening devices is providing an impetus to the market growth.
The lead magnesium niobate-lead titanate(PMN-PT) segment held the largest market share in 2019. Lead magnesium niobate-lead titanate is a ceramic material. Ceramic materials, such as Lead Magnesium Niobate-Lead Titanate, are relaxor ferroelectric and have a high electrostrictive constant, making them ideal for the application of electrostrictive materials. The PMN-PT is also considered as the piezoelectric solid-solution for various applications. Lead magnesium niobate-lead titanate single crystal is available in various dimensions and shapes, such as a wafer, disc, plate, and powder. The material is extensively used in the manufacturing of ultrasound machines.
The automotive and healthcare segments hold around half of the market share, owing to the increasing incorporation of electrostrictive materials in the automotive sector to manufacture smarter and safer vehicles. In the healthcare sector, electrostrictive materials are used to develop medical equipment with built-in sensor technology. For instance,relaxor-based single-crystal electrostrictive materials are used for the application of the ultrasonic transducer.
Asia-Pacific is expected to be the fast-growing market for electrostrictive materials, owing to the burgeoning industrial and manufacturing sector, expanding information and telecommunication services, and the growing automotive industry in the region. Countries such as India, China, and Japan are the frontrunners to the regional market growth. Japan is one of the leading car manufacturers in the world, with the massive presence of leading market players, such as Mitsubishi, Toyota, Isuzu, Subaru, Mazda, Nissan, Honda, Daihatsu, Kawasaki, Yamaha, and Mitsuoka, among others.
China, on the other hand, has the largest automobile market in the world. As per Statista, China is expected to lead the market by 2040, with estimated autonomous vehicle sales of around 14.5 million units. Also, India emerged as an important contributor to the global automotive market and was the third-largest market in the Asia-Pacific in 2019. As per the Statista data, in 2017, the gross value added from the road transportation sector was around USD 55.4 billion, further driving the market growth.
North America leads the electrostrictive materials market as it possesses technologically advanced countries, such as the U.S., which is backed by the presence of several robust research and development centers. The presence of a huge healthcare sector is also one of the leading factors driving the regional market growth, as electrostrictive materials are extensively used as an actuator. Moreover, the massive aerospace and defense sector of the region is anticipated to propel the market growth.
As per the Aerospace Industries Association (AIA), in 2018, the U.S. aerospace and defense industry contributed more than USD 374 billion to the nation’s GDP, representing 1.8 percent of the U.S. GDP. Also, the aerospace and defense industry generated a revenue of USD 929 billion in 2018, up by 4.17 percent from the previous year. This growth in the aerospace and defense industry in the region is the key driving factor for the electrostrictive material market.
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