Smart Materials Market Size Will Attain US$ 92.48 Billion by 2027 Growing at 11.20% CAGR

IMARC Group has recently released a new research study titled "Smart Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", 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.

Smart materials refer to adaptive materials that have intrinsic and extrinsic capabilities. They are widely available as piezoelectric, magneto-rheostatic, electro-rheostatic, and shape memory alloys (SMA). They are easily adaptive to different environmental and operational conditions. They can alter one or more properties when controlled external stimuli are applied to the material, such as stress, temperature, moisture, pH, and electric and magnetic fields. They assist in manufacturing transducers, actuators and motors, and structural materials. As a result, smart materials find applications in the automotive, defense, aerospace, electronics, and healthcare industries across the globe.

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Smart Materials Market Trends and Drivers:

At present, the rising employment of smart materials due to the increasing demand for consumer electronic products around the world represents one of the key factors supporting the growth of the market.

Besides this, the growing utilization of smart materials in the healthcare industry for innovative medical devices is offering a positive market outlook. Apart from this, the rising demand for connected devices among the masses worldwide, along with the increasing adoption of the internet of things (IoT), is offering lucrative growth opportunities to industry investors.

Furthermore, key players are introducing a non-resonant piezoelectric current sensing device with high resolution, which is strengthening the market growth.

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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.

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

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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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