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Smart Materials Market 2019 Business Scenario with Key Players: KYOCERA Corporation, Noliac A/S, APC International, Ltd., TDK Corporation, CTS Corporation and More

02-07-2019 04:57 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Smart Materials Market

Smart Materials Market

In the year 2015, the actuator & motor segment dominated the market with around 44% share, owing to high performance, innovation, and continuous improvements in variety of industrial applications. In terms of growth, the sensor segment is projected to expand at the highest CAGR of around 18% during the forecast period. This is attributed to widening applications of connected devices equipped with smart sensors by end users.

Smart Materials Market is expected to garner $72.63 billion by 2022, registering a CAGR of 14.9% during the forecast period 2016-2022. Smart materials are adaptive or intelligent materials which pose intrinsic and extrinsic capabilities.

The report features a competitive scenario of the global smart material market. It provides a comprehensive analysis of key growth strategies adopted by major players. Key players adopt product launches, digital expansion, and mergers & acquisitions as their key growth strategies to expand their presence and gain a competitive edge. Companies profiled in the report include KYOCERA Corporation, Noliac A/S, APC International, Ltd., TDK Corporation, CTS Corporation, Channel Technologies Group, LLC, LORD Corporation, Advanced Cerametrics, Inc., Metglas Inc., and CeramTech GmbH.

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These can be altered by external stimuli, such as moisture, temperature, electromagnetic field, and pressure to obtain the desired functional effects. In addition, these materials are dynamic in nature and respond to their immediate interaction environments by adapting their characteristics. Advancements in the materials science sector resulted in the development of materials for specific applications, which was previously not possible with the use of conventional materials, such as polymers/plastics, metals, glass, and ceramics. Smart materials are capable of working at a very basic functional level, such as temperature and can be used in very complex technical systems by incorporating additional functionalities and properties. For instance, smart materials can be used in energy supply systems for microelectronic components.

Smart materials are used in applications, such as transducers, actuators & motors, and structural materials. The market for smart materials is driven by the rise in adoption of smart materials products among various end-user industries, such as defense & aerospace, automotive, and consumer electronics; supportive government initiatives & plans; and increase in R&D investment by prominent players to optimize the cost and quality of smart materials. There is a high demand for smart materials on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs).

Value Chain Analysis

The value chain of smart materials observes the presence of large number of stakeholders from the raw material providers to final end users. Each of these stakeholders share a specific value at their point of operation, and in turn, contribute to the competitive value of the product. R&D activities, innovations, and marketing strategies further enhance the value associated with end-deliverables by each player, who operate in the global smart materials industry.

Substantial Investment in R&D

Increase in demand for enhanced smart materials and products from various industries, such as construction, manufacturing, and automotive are anticipated to encourage key players operating in the smart materials market to invest considerable amount on research and development to introduce efficient products and stay ahead in the competition.

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Market segmentation:

The market is segmented on the basis of application, end-user industry, and geography. By application, it is divided into transducers, actuators & motors, sensors, structural materials, and coatings. Based on end-user industry, it is classified into industrial, defense & aerospace, automotive, consumer electronics, healthcare, and others (civil engineering and retail). The global smart materials market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• This report provides an in-depth analysis of the global smart materials market size to elucidate opportunities.
• Current smart materials market trends and future estimations are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold.
• A quantitative analysis of the smart materials market share from 2016 to 2022 is provided to highlight the financial competency.
• Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
• Value chain analysis provides a clear understanding of the roles of stakeholders involved.

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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