Categories: Market Research

Ferroelectric Materials Market Size, Share, Trends And Outlook Report 2024-2033

The Ferroelectric Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Ferroelectric Materials Global Market Report 2024, The ferroelectric materials market size has grown strongly in recent years. It will grow from $2.86 billion in 2023 to $3.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to consumer electronics demand, military and defense applications, medical imaging devices, smart card technology, telecommunications equipment..

The ferroelectric materials market size is expected to see strong growth in the next few years. It will grow to $4.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to 5g technology implementation, rise in internet of things (iot) devices, emergence of wearable technology, increased adoption of non-volatile memory, advancements in energy harvesting.. Major trends in the forecast period include focus on lead-free ferroelectric materials, applications in microelectromechanical systems (mems), utilization of ferroelectrics in neuromorphic computing, investments in research and development, collaborations for commercialization..

The rise in the production of electrical appliances and smart devices will boost the ferroelectric materials market. Electrical appliances and smart devices are a wide range of products and devices that utilize electricity to perform specific functions or provide convenient features. The usage of ferroelectric materials in the production of electrical appliances and smart devices enables energy harvesting, touch sensing, and the development of efficient and responsive components for enhanced functionality and user experience. For instance, in September 2022, as per the data reported by Dataconomy Media GmbH, a Germany-based software company, by the end of June 2022, there were 17.1 connected gadgets and smart home appliances per home on average around the world, a 10% increase over the previous year in the same period. Therefore, a rise in the production of electrical appliances and smart devices will drive the ferroelectric materials market in the future.

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The ferroelectric materials market covered in this report is segmented –

1) By Type: Barium Titanate, Lead Zirconate Titanate, Lead Titanate, Other Types

2) By Material Composition: Inorganic Ferroelectric Materials, Organic Ferroelectric Materials

3) By Application: Ceramic Capacitor, PTC Thermistor, Other Applications

4) By End Use Industry: Electronics, Telecommunications, Healthcare, Automotive, Other End Uses

Technological advancements are the key trend gaining popularity in the ferroelectric materials market. Major companies operating in the ferroelectric materials market are focused on new technological approached innovations to increase their profitability in the market. For instance, in August 2023, Zentropy, a US-based materials science company launched as Ferroelectric Materials Creation Art. This method offers a parameter-free path for the creation of ferroelectric materials by combining intuition and physics. The company has focused on lead titanate in the application of the zentropy theory to ferroelectrics and has successfully applied this method to predict the magnetic properties. The strategy is anticipated to improve the performance of many applications, including high-power acoustic projectors, actuators, sensors, memory devices, and solar cells, as well as advance the development of cutting-edge technologies.

The ferroelectric materials market report table of contents includes: