Press release
With CAGR 11.20%, Smart Materials Market Size is Projected to Reach US$ 92.48 Billion by 2027
Smart Materials Market Report Overview :According to IMARC Group's latest report, titled "Smart Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
A Closer Look at the Smart Materials Market Size | 2022
The global smart materials market reached a value of US$ 47.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 92.48 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/smart-materials-market/requestsample
Smart Materials Market Insight :
Smart materials are designed by modifying the physical and mechanical properties of standard materials under externally controlled and applied conditions. They are available in numerous multi-functional variants, including carbon nanotubes, graphene, inorganic nanoparticles, conducting polymers, etc. Smart materials are preferred over conventional materials in terms of directness, selectivity, immediacy, self-actuation, and transiency. They can be manipulated by electrical stimuli to adjust their electrical and magnetic fields, acoustics, temperature, chemical behaviors, nuclear radiation, etc. Consequently, smart materials find extensive applications across numerous sectors, such as automotive, consumer electronics, aerospace, healthcare, etc., across countries.
Smart Materials Market Current Trends & Future Predictions :
The increasing usage of chemical products across several industries and the rising awareness towards workplace safety and protection from hazardous conditions are among the key factors stimulating the smart materials market. Besides this, the inflating demand for localized, effective, and need-based systems in various biomedical applications, such as cancer targeting, tissue engineering, controlled drug delivery, and biosensors, is also catalyzing the market growth.
Additionally, the escalating incidences of trauma injuries and chronic diseases and the expanding need for regenerative medicines are acting as significant growth-inducing factors. Moreover, the emerging trend of energy-efficient building materials to construct structures that can adapt to changing atmospheric conditions, including wind, heat, or rain, is further augmenting the product demand.
Apart from this, the growing investments in R&D activities to develop smart materials using biopolymers, such as chitosan, bacterial cellulose, starch, gelatin, polylactic acid, polyglycolic acid, etc., are expected to bolster the smart materials market in coming years.
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Global Smart Materials Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
APC International Ltd, Arkema S.A, Confluent Medical Technologies, CTS Corporation, Gentex Corporation, Johnson Matthey, Kyocera Corporation, Meggitt PLC, Murata Manufacturing Co. Ltd, Piezo Kinetics Inc. (The Crest Group Incorporated), SAGE Electrochromics Inc. (Saint-Gobain S.A.) and Solvay S.A.
The report has segmented the market on the basis of region, product, application and end use industry.
Breakup by Product:
• Piezoelectric Materials
• Shape Memory Materials
• Electrostrictive Materials
• Magnetostrictive Materials
• Phase Change Materials
• Electrochromic Materials
• Others
Breakup by Application:
• Transducer
• Actuators and Motors
• Sensors
• Structural Materials
• Others
Breakup by End Use Industry:
• Automotive
• Consumer Electronics
• Aerospace and Defense
• Healthcare
• Industrial
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=4981&flag=C
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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