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Multiferroic heterostructure (Ba0.5Sr0.5)TiO3(BST)/BiFeO3(BFO) have been deposited by pulsed laser deposition method. X-ray diffraction shows that the BFO and BST were epitaxial grown on La0.7Sr0.3MnO3-buffered (100) SrTiO3 substrate. Interestingly, the BST/BFO heterostructure exhibits improved ferroelectric and ferromagnetic behaviors with remnant polarization (2Pr) ~ 34.8 μC/cm2 and saturation magnetization (Ms) ~ 4.65 emu/cm3. Compared with the single BFO film, the BST/BFO heterostructure showed higher dielectric constant and lower dielectric loss. Furthermore, the leakage behaviors of the BST/BFO heterostructure were consistent with SCLC behavior at low electric-field region and PF emission at high electric-field region. Our result indicates the BST/BFO multiferroic heterostructure may be a promising material for the high-density memory application.