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Ferroelectric Materials Market by Type (Barium Titanate, Others) by Application (Ceramic Capacitor, PTC Thermistor, Others): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global market is likely to attain a market value of USD 3.79 billion in 2027 from USD 2.30 billion in 2020. The CAGR for this market is likely to reach over 8.7% during the forecast period.

Ferroelectric materials are classified as functional materials that possess distinct electrical properties when they come in contact with the external electric field. In the absence of an external electric field, ferroelectric materials exhibit the phenomenon of electric polarization. By using an externally applied electric field, the direction of polarization in ferroelectric materials may also be reversed. The spontaneous reversible polarization is a common property of ferroelectric materials. Credence Research is offering holistic information and absolute accuracy in the report titled "Global Ferroelectric Materials Market."

Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

High Adoption in Various Industry

A major end-user of ferroelectric materials is the automotive industry. However, despite the fact that ferroelectric materials are commonly used in industrial production and automotive applications, the medical instrument and information and telecommunication industries have the highest demand for them.

Piezoelectric sensors are used in the healthcare industry's ultrasonic imaging and other ultrasonic procedures. In addition, ferroelectric materials are commonly used in devices such as cellular phones, computers, and inkjet printers in the IT and telecommunications industries. The use of piezoelectric technology in the field of structural health monitoring is also popular. Another booming industry is energy recycling, and piezoelectric technology is expected to play a significant role in this field.

Asia-Pacific to lead the global market in geographic regions

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the global market. Asia-Pacific topped the market by acquiring a 38.2% share in 2020.

Barium Titanate leads Global Market in terms of type.

In consideration of type, the market is bifurcated into barium titanate and others. Barium Titanate dominated the market in 2020. The market largely drives the region's growing demand for electric vehicles. The rise in carbon dioxide emissions, as well as increased government efforts to reduce the number of petroleum and diesel-based vehicles, is a major driver of increased demand for electric vehicles in the Asia Pacific, pushing demand for barium titanate even higher.

Hospitals will dominate the global market in 2020 in terms of Applications.

Ceramic Capacitor, PTC Thermistor, and Others are the various Applications of this market. Ceramic Capacitor led the highest market share in 2020. As ceramic capacitors are becoming more common as performance improves, demand is rising in various industries, including consumer electronics, automotive, telecommunications, and energy and power, to name a few. In addition, growing global automotive production, increasing disposable income, and a rising standard of living will add to the growing demand for certifiable goods.

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Godaddy
Published Date:  May 2021
Category:  Chemicals
Report ID:   60369
Report Format:   PDF
Pages:   120
Rating:    4.2 (60)
Delivery Time: 24 Hours to 48 Hours   
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