Acoustic Diaphragm Market
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Acoustic Diaphragm Market size surpassed USD 17 billion in 2022 and is slated to depict over 7% CAGR from 2023 to 2032. The commendable growth of the electronics industry across the Asia Pacific is one of the leading factors augmenting the demand for acoustic diaphragms.
Asia Pacific economies such as China, India, and Japan have emerged as a massive market for consumer electronics and appliances, given the pent-up consumer demand, flourishing premiumization trends, and supportive policy initiatives. According to Indian Brand Equity Foundation (IBEF) statistics, electronic goods export in India, mainly comprising IT hardware, Mobile phones, electronics (TV and audio), auto electronics, and industrial electronics, recorded a growth of 71.99% YoY and reached an estimated US$ 2,009.07 million in September 2022. Furthermore, the Ministry of Electronics & IT envisions India's electronics industry exports to reach US$ 120 billion by 2026.
Similarly, based on a report by the Ministry of Industry and Information Technology, China ranked first in terms of the production and sales of consumer electronics, backed by its brand-building capacity and improved innovation. The positive outlook of the electronics sector across these economies will foster the demand for acoustic diaphragms owing to its increasing utilization in several audio gadgets will have a favorable impact on the acoustic diaphragm market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Acoustic Diaphragm Market size in 2022: | USD 17 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.3 |
| 2023 Value Projection: | USD 35 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 375 |
| Tables, Charts & Figures: | 193 |
| Segments Covered: | Material, Application and Region |
| Growth Drivers: | |
| Pitfalls Challenges: |
Electronic devices that make use of acoustic diaphragms have a huge dependency on semiconductor chips. The prolonged chip shortage that has been continuing for the last two years has further worsened as a result of the Russia-Ukraine conflict. The ongoing cross-border disturbances have severely disrupted the product value chain and are predicted to hamper industry revenue. Moreover, the fluctuating raw material prices due to changing economic and trade dynamics may further impede market performance.
Based on the material, the acoustic diaphragm market from the polyether ether ketone (PEEK) segment is poised to expand at around 7.5% gains through 2032. The segment growth can be credited to the increasing usage of PEEK acoustic diaphragms in high-quality headphones, earphones, sound bars, esoteric components, laptops/PCs, smart speakers, etc. Another factor adding to the growing popularity of acoustic diaphragms made of polyether ether ketone is they require lesser weight than other polyesters to achieve shape integrity and do not contain unnecessary additives.
Regarding the end-user, the overall market share from the microphone segment is anticipated to cross USD 16.5 billion by 2032. Microphones find extensive usage in a range of devices and appliances, including telephones, televisions, public address systems for motion picture production, concert halls, public events, live and recorded audio engineering, two-way radios, sound recording, megaphones, and radio and hearing aids. The prevalence of hearing difficulties and disabilities among the elderly will propel product demand.
North America acoustic diaphragm market is estimated to witness about 5% CAGR and reach a valuation of USD 5.8 billion by 2032. Increasing consumer inclination toward advanced consumer electronics in tandem with the incorporation of emerging technologies in smartphones and AI speakers is projected to positively impact regional market demand.
The market for acoustic diaphragms underwent healthy progression during the COVID-19 pandemic owing to the accelerated consumer shift toward more premium products. The demand for high-end audio products majorly thrived as a result of strict lockdown norms and movement restrictions that left the consumers homebound. With music consumption, movies, and gaming playing a prominent role in entertaining the masses during the crisis, the need for a good quality at-home audio system stood critical. This apart, the limited consumer spending on out-of-home activities freed up discretionary income, which resulted in increased expenditure on high-end audio products, further accelerating business growth.
Some of the leading companies operating in the acoustic diaphragm market include
These companies have been pouring in hefty investments to enhance their production capacity and gain a competitive edge.
To cite instance, in October 2022, Materion Corporation, a leading company dealing in high-performing advanced materials, announced an investment worth more than $20 Million in the Newton, Massachusetts facility, which the firm has acquired recently. The investments are expected to substantially enlarge the capacity for materials used in semiconductor chip manufacturing and streamline the ongoing product development to support the logic and advanced chips found in the most robust electronic devices.
By Material
By Application
By Region
The market size of acoustic diaphragm exceeded USD 17 billion in 2022 and is set to witness over 7% CAGR from 2023 to 2032 owing to the positive outlook of the electronics sector across several Asia Pacific economies, India, China, and Japan.
The polyether ether ketone (PEEK) segment is likely to grow at nearly 7.5% gains through 2032 given the several benefits of using PEEK in acoustic diaphragms over other polyesters such as lightweight and free from unnecessary additives.
The microphone segment is expected to reach USD 16.5 billion by 2032, given the increasing usage of microphones in hearing aids and other devices and appliances such as televisions, telephones, etc.
Prominent companies in the acoustic diaphragm business include Mica Manufacturing Co. Pvt. Ltd., Materion Corporation, Foster Electric Company, Limited, Poyun Enterprise, Elmetric AB., Vansonic Enterprise Co., Ltd, Loudspeaker Components, LLC, VOZ Electonic Co., Tectonic, and Vesper Technologies.