Ferroelectric Materials Market Size, Share, and Trends 2024 to 2034

Ferroelectric Materials Market Size and Forecast 2024 to 2034

The global ferroelectric materials market size is expected to be valued at USD 3.62 billion in 2024 and is anticipated to reach around USD 8.43 billion by 2034, expanding at a CAGR of 8.82% over the forecast period 2024 to 2034.

Ferroelectric Materials Market Key Takeaways

• By Region, North America tends to dominate the market in the forecast period. Due to the increased demand for technological advancement.
• By Type, the barium titanate segment dominated the market in terms of the highest market share in the forecast period. Barium titanate dominated the market regards to the high demand for electric vehicles.
• By Application, the ceramic capacitor led the market with the highest market revenue in the year 2023.

Market Overview

The ferroelectric material market refers to the market for materials that exhibit ferroelectric properties, which means they have a spontaneous electric polarization that can be reversed by an external electric field. Ferroelectric materials have a wide range of applications, especially in electronics, storage devices, sensors and capacitors. Ferroelectricity materials are the materials that dispose of ferroelectricity. Ferroelectricity had the material capacity of unconstrained electric polarization. Ferroelectricity had different kinds of electrical properties when it comes in contact with the external electric field.  An increase in the demand for advanced materials has driven the ferroelectricity market. Ferroelectricity is also the functional material that exhibits electric polarization in the absence of an external electric field.

• The ferro corporation is a top provider of technologically advanced functional coatings and color solutions on a global scale. Ferro provides color solutions in the form of specialized pigments and colorants for a wide range of industries and applications, as well as functional coatings for glass, metal, ceramic, and other substrates.
• The Consolidated Financial Statements for the year ended August 31, 2022, have been authorized by Ferrero International S.A., the parent company of the Ferrero Group. The Ferrero Group, whose executive chairman is Mr. Giovanni Ferrero and whose chief executive officer is Mr. Lapo Civiletti, ended the fiscal year with a consolidated turnover of 14 billion euros, up +10.4% from 12.7 billion euros the year before.
• Nippon Life India Asset Management (NLIAM) recorded a 13% increase in net profit for the fourth quarter ended March 2023, coming in at Rs 198 crore. The combined earnings for the fiscal year 2022–2023 decreased 2.7% to Rs 723 crore.

Ferroelectric Materials Market Growth Factors

Ferroelectricity had the properties of dielectric or non-conducting crystals that allow direct electric polarization which can be reversed in the direction of the application of an electric field. The global increase in the demand for electric appliances results in a rise in the demand for the ferroelectricity material market in the upcoming future. Ferroelectricity can be used in commercial industries like automotive, electronics, and aerospace.

Ferroelectricity is an advanced material that can be used in various commercial electric applications like automotive, smart home electric appliances, the aerospace industry, and other electronic segments as well. In the region like U.S. and Japan, the advancement of technology leads to the demand of the market in various commercial and industrial segments.

Increase in the innovation in technologies in the functional materials in the electric field. And the commercialization of piezoelectric materials in the field of electric application tends to the higher demand for ferroelectricity materials helps the devices affordable, smaller, and consumer friendly. All these factors result in a higher demand for the ferroelectric material market.

Ferroelectric Materials Market Companies

Market Dynamics

Drivers

Increased demand for smart electric devices in the commercial and industrial sector

Ferroelectricity materials are also known as function materials. Ferroelectricity materials can be used in many commercial and industrial sectors. Commercially it can be used in various electric applications in the industries like automotive, manufacturing, smart devices, etc. Smart devices are one of the leading applications that used ferroelectricity material as their electric application. The ongoing technological innovations in smart electronic devices and the increased demand for smart electronic devices in commercial and domestic sectors have resulted in the growth of the Ferroelectricity Materials Market. Piezoelectric sensors are used in pharmaceutical industries in ultrasonic imaging and ultrasonic process. Structural health monitoring is also one of the popular fields in the piezoelectric technology.

Restraints

Higher costs and lack of awareness

Ferroelectricity materials had many properties that benefit many commercial and domestic industries. There are also some limiting factors that are hampering the market from growth. There is a lack of awareness of the technologies of ferroelectricity materials in many regions. The higher cost of materials and technology is also one of the limiting factors for the Ferroelectricity Materials Market. Ferroelectric materials are typically produced using complicated manufacturing processes. The requirement of specialized equipment and expertise for the process adds on the cost for the materials, this can lead to higher production costs. In addition, developing new and innovative ferroelectric materials require significant researches, which can be costly. High cost of production may limit end-users from entering in the market.

Opportunity

Advancement in the technology of 2D ferroelectric material

2D (Two Dimensional) ferroelectric materials are pretended to be the high performance of nano-electric devices due to high storage density, lower energy cost, and minimum time derived from the switchable polarization state and bistable state.

With the emerging advancement in the 2D ferroelectric material, the future of the nanoelectronics is highly dependent on the novel class of high-dimensional materials.  To the subject of the application and novel technologies, Van der Waals ferroelectrics had vast future opportunities for nanotechnologies. The advancement in technologies of VDW ferroelectricity materials and widely developing. The latest development functionality of multiple orders and multiferroicity.

Type Insights

The barium titanate segment dominated the market with the largest market share in 2023. Barium titanate is commercially considered a ferroelectric and piezoelectric material. It is mostly used in the electronic industries. Specifically used in the multilayer dielectric ceramic capacitor. Barium titanate Ceramic is frequently reduced in an environment that increases the conductivity of the ceramic and leads to lifelong reduction.

The market largely drives through the electric vehicle demand in the commercial sectors. The increasing government concern about global warming through the excess use of petrol and diesel vehicles results in a greater demand for electric vehicles and expanding demand for barium titanate.

Application Insights

The ceramic capacitor segment dominated the global ferroelectric material market in 2023. A ceramic capacitor is made of granules of ferroelectric materials. The highest use of ferroelectric material in industries is in the multilayer ceramic capacitor. The increasing demand in the different industries like automotive, consumer goods, energy, power and telecommunication, etc. Increasing demand for automotive and increasing living standards results in a greater demand for the market.

The PTC thermistor is another emerging segment of the global ferroelectric materials market. The precise temperature sensing and control offered by ferroelectric materials in PTC thermistor is considered to continue the development of the segment.

Regional Insights

North America holds the largest market share in the ferroelectric material market. North America is expected to continue its dominance during the forecast period. There is continuous growth in technological innovation in the region which is expected to dominate the market in the forecast period also. With growing infrastructure and the already availability of various industries such as automotive, Pharmaceuticals, building and materials, construction, consumer goods, etc. the demand for ferroelectric materials in these industries will likely expand the demand of the market. The rising demand for the electric vehicle in the United State region is anticipated for the growth of the Ferroelectric material market in this region.

Asia-pacific region is expected a significant increase in the growth of the ferroelectric material market. An increase in urbanization and increasing living standards will boost the demand in the market. The increase in global warming in the environment in the Asia Pacific results in a greater demand for electric vehicles. Which tends to the rising demand for the ferroelectric material market.

Europe is another emerging marketplace for ferroelectric materials, countries including, Germany and United Kingdom are expected to contribute the largest share of the market’s growth during the forecast period. The continuous technological innovations in the region are predicted to offer a plethora of opportunities for the market’s growth in Europe during the forecast period.

Ferroelectric Materials Market Companies

• Sakai Chemical
• Nippon Chemical
• Ferro
• Fuji Titanium
• Shandong Sinocera
• KCM
• Shanghai Dian Yang

Recent Development

• In March 2023, The Ferroelectric 2D materials can act as a nanoscale switch and motor researched by Rice Unversity scientist Boris Yakobson and his team. They said 2D material is very thin and flexible, and single-layer ferroelectric material builds an anticipated active bending behavior.
• In Sep 2022, a United States scientist develops the properties of ferroelectric, a lead-free perovskite material that can be used in solar cells. It can be made from the germanium tribromide and primary inspection results is creates the ferroelectricity.

Segments Covered in the Report

By Type

• Barium Titanate
• Lead Zirconate Titanate
• Lead Titanate
• Others

By Application

• Ceramic Capacitor
• PTC Thermistor
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa