Press release
World Smart Material Market – Opportunities and Forecasts, 2015-2022
Smart materials are adaptive or intelligent materials that possess intrinsic and extrinsic capabilities, which 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. Advancement 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. The smart material market is valued at $72.63 billion for the period 2015 – 2022. Besides this, the smart material market is expected to register a CAGR of 14.9% during the assessment period. Smart materials are capable of working at a very basic functional level and can be used in complex technical systems by incorporating additional functionalities and properties. For instance, smart materials can be used in energy supply systems for microelectronic components. These attributes have attracted many end-users to the smart materials market. Rapid demand for smart materials, piezoelectric and biomimetic materials have now caught the attention of major investors worldwide. The demand for piezo-electric materials is significant in North America. Manufacturers specializing in thermally responsive materials and other materials such as smart fluids and smart hydrogels will keep many stakeholders interested in the smart material market.
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Smart materials are used in applications such as transducers, actuators & motors, and structural materials. The market for smart materials is driven by growing adoption of smart materials products among various end-user industries, such as defense & aerospace, automotive, and consumer electronics; supportive government initiatives & plans; and increasing R&D investment by prominent smart material market players to optimize the cost and quality of smart materials. The demand for smart materials is on a rise worldwide on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs). This will open new opportunities for the smart materials market worldwide.
The market is segmented on the basis of application, end user, and geography. By application, it is divided into transducers, actuators & motors, sensors, structural materials, and coatings. Based on end user, it is classified into industrial, defense & aerospace, automotive, consumer electronics, healthcare, and others (civil engineering and retail). The world smart material market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA.
The companies profiled in the report are 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.
KEY BENEFITS:
This report provides an in-depth analysis of the world smart material market to elucidate opportunities in the smart materials market
Current trends, future estimations and smart materials application are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold.
A quantitative analysis of the types of smart materials in market from 2016 to 2022 is provided to highlight the financial competency of the market.
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.
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SMART MATERIAL MARKET SEGMENTATION:
By Application
Transducers
Actuators & Motors
Sensors
Structural Materials
Coatings
By End User
Industrial
Defense & Aerospace
Automotive
Consumer Electronics
Healthcare
Others (Civil Engineering and Retail)
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Singapore
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Players
KYOCERA Corporation
Noliac A/S
APC International, Ltd.
TDK Corporation
CTS Corporation
Channel Technologies Group, LLC
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