Piezoelectric Polymers Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3559
Global piezoelectric polymers market size is likely to witness commendable growth over 2021-2027. This is driven by the capability of the electronic voided charged piezoelectric polymers to reduce actuation through polarization, exhibiting attractive advantages such as high strength and voltage resistivity. Furthermore, their escalating usage as active materials in various transduction applications will also add significant impetus to the industry forecast over the projected timeframe.
Piezoelectric polymers refer to polymers that generate electric charges on the surface under strain or pressure, thus converting mechanical energy to electrical energy. Polymeric materials, such as piezo polymer composites, with an embedded inorganic piezoelectric material, are being widely adopted in millimeter to micrometer scale electromechanical devices. High emphasis on the use of organic piezoelectric biomaterials in biomedical devices, due to their excellent biocompatibility, is a key factor fostering global piezoelectric polymers market trends. Several biopolymers have been discovered to possess piezoelectric properties, thereby gaining extensive adoption in tissue engineering, controlled drug delivery systems, and other biomedical applications.
With regards to the application spectrum, the actuators segment is anticipated to hold an appreciable share of the piezoelectric polymers market by 2027. This is attributable to the ability of piezoelectric actuators to meet the requirement of precision positioning, owing to their high accuracy and stiffness, faster response, and broad working stroke, among other benefits. Additionally, the rising deployment of actuators for handling high pressures or forces in static and dynamic situations will further escalate the segmental growth over the foreseeable future.
North America piezoelectric polymers industry is set to exhibit a strong growth rate through 2027, as a result of the mounting deployment of renewable energy and solar photovoltaics, where sensors play a key role. According to the Center for Climate and Energy Solutions, solar generation is expected to surge from 11% of the total U.S. renewable generation in 2017 to 48% by 2050. In addition, the remarkable increase in sales of consumer electronics in the U.S. will further broaden the piezoelectric polymer application scope in the region.
The competitive landscape of the global piezoelectric polymers industry consists of companies such as Polyk Technologies, Toray Industries, Inc., Kureha Corporation, Arkema, and Solvay S.A., among others. Innovative product launches and business expansions are some of the prominent strategies being employed by these firms to boost their geographical stance across the global market. For instance, in June 2021, Arkema unveiled a range of PVDF (polyvinylidene fluoride) for lithium-ion batteries through the usage of bio-feedstock. This new product range was designed to reduce climate change impact and dependence on the consumption of upstream crude oil.
Disruptions to Electronic Industry During COVID-19 May Impact Piezoelectric Polymers Market Trends:
The novel coronavirus pandemic has been posing a drastic impact on industrial sectors including electronics, due to the massive economic downturn and supply chain crisis. The cancellation of major industry events and supply chain halts has led to mass disruptions, putting the electronics industry in a state of uncertainty. Lockdown measures and the decline in demand for certain electronic devices during the coronavirus pandemic could impede the usage of polymer-based piezoelectric materials.
Despite these disturbances, the rapid installation of solar photovoltaic systems in countries including the U.S., even during the pandemic, may aid the recovery of the piezoelectric polymers industry in the coming years. During the first nine months of 2020, India added rooftop solar of 883-MW, despite the impact of the COVID-19 lockdown on the sector. Factors such as these could, in turn, improve demand for piezoelectric based components in the years ahead.
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