Sound waves can travel through gases, liquids and solids. The ability of a sound wave to travel through a particular medium depends upon the frequency and the amplitude of the sound wave and the properties of the material through which it travels. These properties are the basis for many applications of sound waves. The frequency of sound waves can range from a very small value to a very large value, depending on how the sound waves are generated. Ultrasonic technology is based on the use of frequencies in the ultrasonic range (frequencies above 20,000 cycles per second or 20 kHz and as high as 500 MHz). Over the years, many inventors, scientists and engineers have found ways to use these frequencies for different uses or applications. Applications for ultrasonic technology continue to emerge.
According to a soon-to-be-released updated report from Business Communications Company, Inc, RGB-123R The Ultrasonic Business and Markets in the U.S., the ultrasonics market currently stands at $3.6 billion. This market is projected to grow at an AAGR (average annual growth rate) of 8.5%, to reach $5.35 billion by 2008. All market forecasts assume that the U.S. economy will continue to recover with a quick resolution of the geopolitical issues overhanging the U. S. economy at the beginning of 2003. The ultrasonics industry is comprised of the following major segments: ultrasonic transducers, high power industrial ultrasonics, low power industrial ultrasonics, and medical ultrasonics.
Like most industrial sectors, the ultrasonics industry suffered during the recent recession that began before the September 11th, 2001 events at the World Trade Center and the Pentagon. Weak economic growth continued until the end of 2002. Furthermore, the recovery, as of early 2003, is not yet robust. During this period the industry was going through consolidation, via mergers and acquisitions.
Some noticeable trends:
- The overall piezoelectric elements and components market will experience relatively modest growth through 2008. Japanese firms like Murata, AVX/Kyocera, and NTK have strong market shares in the piezoceramics sector, but these companies are in the commodity sector of this market. Many U. S. manufacturers do not intend to compete in the commodity sector where mass manufacturing methods adopted and implemented by these companies lead to very small margins. Instead they want to be in the specialized, or higher margin, business.
- Because most piezoelectric elements are used in ultrasonic transducers, the two market sectors are closely linked. Most industrial and medical applications use piezoelectric transducers. Just as piezoelectric polymers are expected to show a strong growth rate, piezo-polymer transducers have not taken hold in the marketplace to the extent expected a few years ago. The piezo-ceramic transducers continue to be the choice for many industrial and medical ultrasound applications. Magnetostrictive materials continue to hold their own and are expected to gain market share in the high power industrial applications with the successful use of Terfenol-D material.
- Ultrasonic assembly devices -- welding and joining application -- experienced close to double-digit growth in the past five years. Some companies expected this level of growth to continue. However, projected growth rate for this segment is 7.7% through 2008. Ultrasonics assembly represents true advantages over most other manufacturing technologies, together with substantial cost benefits, which significantly reduce resistance to market penetration. For most high power ultrasonics sectors, market demand is going in the direction of equipment with sophisticated controls. In addition, the follow-along market for accessories, parts, and consumables is growing at a rate faster than the rate of the overall market.
- Nondestructive testing instruments and air sensing and control applications are currently driving growth in the low power ultrasonics area. With continued focus on automation, maintenance and productivity in the manufacturing economy, both of these applications are projected to show substantial growth.
- Medical ultrasonics makes up the largest ultrasonics market in the U.S. The diagnostic applications of ultrasound are well established and mergers and acquisitions have led to significant consolidation. The number of companies with major participation in the U. S. market has shrunk to just four. These companies are expected to add features to their product offerings and exert continued pressure on pricing. The continued need to control medical costs will be a major factor in the diagnostic ultrasound market. New surgical applications of ultrasound technology have started to gain in popularity. The surgical ultrasonic market is projected to experience high growth rates. Therapeutic applications of ultrasound technology have been conceived and are being tested. Some of the studies on the usefulness of the technology do not show significant benefits over other therapeutic methods. This is bringing a cloud over this application in the medical technology field. Industry participants promoting this application will continue to experience difficulties, with a need to show the benefits of this technology. However, starting from a small base in 2003, a 9.7% AAGR is projected for the period 2003 through 2008.
