The latest market report published by Credence Research, Inc. “Global Ferroelectric Materials Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 2.30 billion in 2020 and expected to reach a healthy CAGR of over 8.7% during the forecast period from 2021to 2027 to reach around USD 3.79 billion in 2027.
Browse the full report at https://www.credenceresearch.com/report/ferroelectric-materials-market
Ferroelectric materials are described as the material that exhibits the property of ferroelectricity. The potential of a substance to have spontaneous electric polarisation is known as ferroelectricity. The application of an external electric field in the opposite direction will reverse this polarisation.
Key Trends in Global Market
COVID-19 Impact on the Market
Due to the shutdown of larger manufacturing units as a result of the COVID-19 pandemic, the growth of the ferroelectric materials market industry has recently slowed. Furthermore, as a result of the pandemic, demand for electronics sectors has temporarily declined, which has hampered the market’s potential prospects. The market is expected to be influenced by various trade conflicts and relationships between countries.
Following COVID-19, there are now creative policies aimed at promoting the development of various goods. The numerous openings of global economies in various countries are expected to have a positive effect on the global Industry Trends, as demand for the devices in future is expected to increase market stakeholders’ earnings. Companies key implementation of readjustment scenarios to deal with unexpected incidents. In addition, the demand for wireless and home office applications is growing.
Global Market by Type Insights
On the basis of Type, the global market can be divided into Barium Titanate and Others. In 2020, Barium Titanate ruled the market with highest share. Barium Titanate has high demand in various applications like lead-free piezoelectric products, capacitors, composite polymer films and electroluminescent coatings, is driving the global barium titanate market. Barium titanate’s ability to exhibit ferroelectric properties, as well as its exceptional photorefractive properties, are anticipated to fuel demand in the upcoming years.
Barium Titanate Segment to Dominate the global market
Global Market by Application Insights
Global market is segmented based on Application as Ceramic Capacitor, PTC Thermistor and Others. Growing demand for ceramic capacitors from the electronics market is driving growth of the ceramic capacitors market. This demand is ascribed to the ever-growing requirement of improved gadgets. Ceramic capacitors have highest applications in the smartphones and tablets as they can handle complex and sophisticated functions effectively.
Global Market by Regional Insights
In the field of ferroelectric materials, the United States and Japan are the leading countries in terms of patent filing and testing. These nations have also commercialized the technology in the automobile, aerospace, and electronics industries. Due to an increase in demand for energy-efficient and modern technology in electronics and semiconductor chips, the ferroelectric materials market is expected to grow in North America and Asia Pacific, followed by Europe. In many electronics applications, advanced technical innovation and commercialization of piezoelectric materials are helping to make devices cheaper and smaller. This, in turn, is propelled the global market.
Global Market Competitive Landscape
Some of the most prominent players operating in the global market include Sakai Chemical, Ferro, Nippon Chemical, Fuji Titanium, KCM, Shandong Sinocera, Shanghai Dian Yang and among others.
Global Ferroelectric Materials Market by Type, 2015 – 2027
· Barium Titanate
Global Ferroelectric Materials Market by Application, 2015 – 2027
· Ceramic Capacitor
· PTC Thermistor
Global Ferroelectric Materials Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Ferroelectric Materials Market: Key Players
· Sakai Chemical
· Nippon Chemical
· Fuji Titanium
· Shandong Sinocera
. Shanghai Dian Yang