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Smart Materials Market Competitive Landscape, Strategic Assessment and Growth Forecast to 2023
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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.
On the basis of type of products, the smart materials market can be categorized as Piezo-electric materials, biomimetic materials, magnetostrictive materials, halochromic materials, shape memory materials, smart fluids, thermally responsive materials and smart hydrogels.
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.
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. On the basis of end users, the smart materials market can be categorized as agriculture and food, leisure and sports, construction and infrastructure, transportation, and healthcare.
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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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