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Global Smart Materials Market Key Trends, Growth, Analysis, Opportunities and Forecast upto 2023
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Smart packaging in consumer goods is one of the major trends that can be seen in the smart materials market. The main focus of the manufacturers is expected to be on better design and optimal use of materials for producing packages that could easily be opened.
A material is considered as a smart material when the input stimulus of a variable changes the output of other variables which were not given as input. If there is a change in external environment such as light, pressure, temperature and electricity, then the smart materials would change some of its properties with respect to the change in environment.
The smart materials market can be categorized on the basis of applications as sensors, structural materials, actuators and motors, transducers, energy harvesting devices, and mechanical structures.
Rising piezoelectric devices usage and burgeoning artificial organ and bionics industry are some of the factors driving the growth of the smart materials market. Increasing number of end user applications for the smart materials is an opportunity for the smart materials market to grow at a considerable rate in the coming years.
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Some of the competitors in the smart materials market are Advanced Cerametrics, Inc., Channel Technologies Group, LLC, Wright Medical Group, Inc., CeramTec GmbH, APC International, Ltd., Kyocera Corporation, TDK Corporation, LORD Corporation, CTS Corporation and NOLIAC A/S.
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