Global Smart Materials Market Driven by Growing Focus on Bionics

Albany, New York: The global smart materials market is poised to witness a strong growth over the next five years, according to a report recently added Market Research Reports Search Engine (MRRSE). The report, titled “Smart Materials (Biomimetic Materials, Piezo-electric Materials, Thermally Responsive Materials and Others) Market for Actuators & Motors, Sensors, Transducers, Structural Materials, and Other Applications - Global Industry Analysis, Size, Share, Growth)”, offers detailed insights into what drives the global smart materials market and the various challenges it needs to overcome during the forecast period.

Smart materials are a class of reactive materials that sense the changes in external environments and respond by altering their inherent properties so as to adapt to the surroundings. The response of smart materials differs based on the chemical structure.

The research report studies and analyzes the smart materials market on a regional as well as global level. Europe, North America, Asia Pacific, and Rest of the World (RoW) are the four main regional markets under scrutiny. These regions are studied by product as well as application for the period from 2013 to 2020. The report also evaluates the structure and scope of the smart materials market by segmenting it on the basis of application and product. By product, the smart materials market comprises piezo-electric materials, biomimetic materials, thermally-responsive materials, and others including smart hydrogels and smart fluids. By application, the smart materials market is categorized into sensors, structural materials, actuators and motors, transducers, and others including energy harvesting devices, sports and leisure, and mechanical structures.

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The report identifies and assesses the key factors driving the global smart materials market. According to the report, the smart materials market is fueled by a rapidly expanding bionics and artificial organ industry, growing popularity of piezo-electric devices, and rising end-use applications. However, the smart materials market faces the difficult task of transforming research and development into end-use applications and this hinders the development of the overall market.

Nevertheless, the global smart materials market, according to the report, is anticipated to register a strong double-digit growth rate over the course of the forecast period, expanding from a value of US$27.7 bn in 2013 to US$63.2 bn by 2020. Accounting for a share of over 38.0% in 2013, North America dominates the worldwide smart materials market in terms of revenue. Asia Pacific, on the other hand, is projected to emerge as the fastest developing regional segment by 2020 driven by growing demand for smart materials from various end-use industries.

Browse Full Report With TOC : http://www.mrrse.com/smart-materials-market

A prominent feature of the global smart materials market report is its evaluation of the competitive landscape. Leading players are not only identified but also reviewed based on parameters such as company and financial overview, recent developments, product portfolio, and business strategies. The companies featured in the smart materials market study are Advanced Cerametrics, Inc., NOLIAC A/S, Kyocera Corporation, TDK Corporation, CTS Corporation, CeramTec GmbH, Wright Medical Group, Inc., LORD Corporation, APC International, Ltd., and Channel Technologies Group, LLC.

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This release was published on openPR.