Many piezo devices are available that have 110dB+ outputs but users seldom drive them according to the manufacturers spec, particularly the correct 'resonant' frequency they are designed to run at. Find a suitable piezo (voltage range) and output (dB) and use it according to the specifications and it will be loud enough!
All that the circuit does that you have posted is rely on the resonant frequency of the L/piezo (effectively a parallel tuned crystal circuit) which is being 'rung' by the applied waveform - much like ringing a bell.
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