Relaxor ferroelectric ceramics are a class of materials that exhibit high piezoelectric properties and are widely used in various applications, such as transducers, sensors, actuators, and energy harvesting devices. These ceramics are characterized by a unique crystal structure, which allows them to exhibit a high piezoelectric response over a broad temperature range, making them suitable for use in extreme environments.
Key Market Drivers and Restraints
Rising awareness regarding relaxor ferroelectric ceramics among end-use industries is expected to drive the growth of the global relaxor ferroelectric ceramics market. Also, increasing demand for quick charge and discharge in various electronic fields is projected to fuel the growth of the global market over the forecast period.
However, high cost, availability of alternatives, and lack of awareness of relaxor ferroelectric ceramics in various regions are expected to hamper the global relaxor ferroelectric ceramics market.
Impact of COVID 19
The relaxor ferroelectric ceramics market will show considerable growth on the back of the global pandemic. As a result of the COVID-19 outburst, complete or partial shutdown across the globe in order to maintain social distance and increasing cases. Furthermore, with supply chain disruptions, delayed production lines, and distributors, suppliers, and retailers have stocks in warehouses but cannot sell them, as well as players are leveraging the demand for end-products.
Asia Pacific to Dominate the global relaxor ferroelectric ceramics market
The global relaxor ferroelectric ceramics market covers the six regions, namely Europe, North America, Asia Pacific, Latin America (LATAM), Middle East and Africa, including all the key economies in these regions. Asia Pacific market is dominated the global market and accounted for more than 36.0% of the total market. This is attributed to increasing demand for the product in electronics industry and rising collaboration among players to enhance market penetration.
Global Relaxor Ferroelectric Ceramics Market is led by the Electronics
Electronics, automotive, and aerospace are the key end-use in the relaxor ferroelectric ceramics market. In 2020, Electronics segment is accounted for the largest share of relaxor ferroelectric ceramics market. However, automotive segment is anticipated to grow at the fastest CAGR during the forecast period.
Powder would continue to dominate the global relaxor ferroelectric ceramics market in terms of product type
Solid and Powder are some of the major types of product type. Solid segment accounted for the largest share in 2020 of the relaxor ferroelectric ceramics market in 2020, owing to increasing demand for quick charge and discharge in various electronic fields.