Home Semiconductor & Electronics Electrostrictive Materials Market Size, Share and Forecast to 2032

Electrostrictive Materials Market

Electrostrictive Materials Market Size, Share & Trends Analysis Report By Product (Lead Magnesium Niobate-Lead Titanate (PMN-PT), Polymer), By Application (Actuator, Transducer), By End-User (Automotive, Healthcare, Information and Telecommunication, Consumer Goods, Aerospace and Defense) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRSE1233DR
Study Period 2020-2032 CAGR 2.8%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market North America Fastest Growing Market Asia-Pacific
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Market Overview

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.

Market Dynamics

Increasing Demand for Actuators in Several End-Use Industries to Propel the Market Growth

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.

Growing Information and Telecommunication Industry in India to Drive the Market Growth

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.

Regional Analysis

Lead Magnesium Niobate-lead Titanate Segment to Dominate the Electrostrictive Market

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.

Automotive and Healthcare Sectors: Largest Users of Electrostrictive Materials

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. 

Report Scope

Report Metric Details
By Product
  1. Lead Magnesium Niobate-Lead Titanate (PMN-PT)
  2. Polymer
By Application
  1. Actuator
  2. Transducer
By End-User
  1. Automotive
  2. Healthcare
  3. Information and Telecommunication
  4. Consumer Goods
  5. Aerospace and Defense
Company Profiles APC International Harris Corporation PI Ceramic Morgan Technical Ceramics Mad City Labs Smart Materials Corp. Piezo Kinetics, Inc. MSI Transducers Corporation Sparkler Ceramics Pvt. Ltd. Noliac A/S
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

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.

Market Size By Product

Market Size By Product
  • Lead Magnesium Niobate-Lead Titanate (PMN-PT)
  • Polymer
  • Top Key Players

    Electrostrictive Materials Market Share of Key Players

    Electrostrictive Materials Market Share of Key Players
    APC International Harris Corporation PI Ceramic Morgan Technical Ceramics Mad City Labs Smart Materials Corp. Piezo Kinetics, Inc. MSI Transducers Corporation Sparkler Ceramics Pvt. Ltd. Noliac A/S Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Electrostrictive Materials Market?
    Electrostrictive Materials Market size will grow at approx. CAGR of 2.8% during the forecast period.
    Some of the top industry players in Electrostrictive Materials Market are, APC International, Harris Corporation, PI Ceramic, Morgan Technical Ceramics, Mad City Labs, Smart Materials Corp., Piezo Kinetics, Inc., MSI Transducers Corporation, Sparkler Ceramics Pvt. Ltd., Noliac A/S, etc.
    In the Electrostrictive Materials Market, North America has established itself as the market leader with a significant market share.
    The Asia-Pacific region has experienced the highest growth rate in the Electrostrictive Materials Market.
    The global Electrostrictive Materials Market report is segmented as follows: By Product, By Application, By End-User

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