Smart Material Market is valued at USD 44.52 billion in 2019 and expected to reach USD 110.18 billion by 2026 with a CAGR of 13.82% over the forecast period.
Growing application of smart materials in new cutting-edge technology is driving the Smart Material market
List of the Leading Key Players of Smart Materials Market are,
Scope of Global Smart Material Market Reports –.
Smart materials are called intelligent or responsive material, which are specialized materials that have one or more properties that can be changed in a controlled fashion by external stimuli, such as stress, moisture, electric or magnetic fields, light, temperature, PH or chemical compounds. These are mainly used in manufacturing of electronic instrument such as sensors, actuators, electroactive polymers etc. These materials have properties that react to changes in surrounding environment. Changes such as temperature, pressure are reversible and can be repeated many times. Due to advent of nanotechnology, there are many smart materials available in market ranging from carbon nanotubes to graphene, inorganic nanoparticles, conducting polymers etc. It is also described as shape memory material (SMM) and shape memory technology (SMT).
Global smart material market report is segmented on the basis of product, application and by regional & country level. Based on product, global smart material market is classified as piezoelectric materials, shape memory materials, electrostrictive materials, magnetostrictive materials, phase change materials, electrochromic materials and others. Based upon application, global smart material market is classified into actuators & motors, transducers, sensors, structural materials and others.
The regions covered in this smart material market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Smart Material Market Reports-
Some major key players for global smart material market are Advanced Cerametrics, Inc., Channel Technologies Group, LLC, TDK Corporation, Wright Medical Group, Inc., Kyocera Corporation, CeramTec GmbH, APC International, Ltd., LORD Corporation, CTS Corporation and NOLIAC A/S. and others.
Smart Material Market Dynamics –
The increasing application of smart materials, rising adoption of these materials in different end user sectors such as defense & aerospace, consumer electronics & automotive and extensive research & development in material science sector are the major driving factors for the growth of smart material market. For instance, smart materials are applied in manufacturing of actuators & sensors due to advantages such as high energy density, fast response, compact size and fewer moving parts. Smart materials are extensively used in smart phones as image sensors for camera, microelectronic components, Piezoceramics and quartz, crystals in accelerometers, barometers, GPS (TCXO), gyroscopes, hygrometers, light sensors etc., ceramic & glass materials as image display etc. Globally there are an estimation of 2.5 billion smartphone users, which was roughly a third of the planet’s inhabitants. And by 2025, it is predicted that there will be 5.9 billion unique mobile subscribers, which was 71% of the entire global population. In the smartphone manufacturing, there are a surprising number of ceramic components within an average mobile device, including capacitors, filters, antennas, and substrates for image sensors. It can also be predicted that with the sale of mobile phones approaching almost two billion units annually, the number of ceramic components in phones is more than that which shows the high growth rate of the market in forecast period. Other than that, it is used in varied application such as piezoelectric materials provide a wide range of utility in terms of actuators, sensors, such as many accelerometers, and energy harvesters. General applications for piezo materials are BBQ igniters and actuators for inkjet printer heads. Additionally, materials such as shape memory alloys, magnetostrictive, shape memory polymers, hydrogels, electroactive polymers, bicomponent fibers are used in varied application driving the smart material market. Extensive research & development as well as government support is expected to drive the future growth of the market. However, some disadvantages such as limited strain outputs, limited blocking forces, high cost, and sensitivity to severe environmental conditions are restraining the market up to some extent.
Smart materials are usually utilized as actuators and sensors, and their associated ""stimulus"" and ""response"" is depicted in (Table 1). Major advantages of smart material actuators and sensors include high energy density, fast response, compact size, and fewer moving parts. Smart materials are usually utilized as actuators and sensors, and their associated ""stimulus"" and ""response"" is depicted in (Table 1). Major advantages of smart material actuators and sensors include high energy density, fast response, compact size, and fewer moving parts. Smart materials are usually utilized as actuators and sensors, and their associated ""stimulus"" and ""response"" is depicted in (Table 1). Major advantages of smart material actuators and sensors include high energy density, fast response, compact size, and fewer moving parts. Smart materials are usually utilized as actuators and sensors, and their associated ""stimulus"" and ""response"" is depicted in (Table 1). Major advantages of smart material actuators and sensors include high energy density, fast response, compact size, and fewer moving parts.
Smart Material Market Regional Analysis –
North America is the dominating market for smart materials with share of more than 35% due to substantial demand for smart actuators & motors in industries such as automotive & consumer goods, research activities and high adoption rate of new technology. For instance, in 2017, North America have sold smart phone of value USD 84 billion. Additionally, screenless displays are beginning to appear in American market. For instance, in September 2018, at Mobile World Congress Amercas, the first holographic call made its demonstration brought to the show by Voxon Photonics and Verizon 5G. other than that, USA has published around 0,277 papers related to smart material from 1990 until 2015, which helped the market to grow exponentially in this region. Europe is the second largest market of smart material due to already established market, growing adoption of new technology in terms of robotics, automation in vehicles and government support. For instance, UK one of the major innovators of smart material technology is creating partnership relationship with China for integrating expertise on smart material technology of two countries to collectively manufacture smart material solutions in transport, aerospace, healthcare etc. Asia-Pacific is expected to have high growth rate in smart material market due to presence of high developing economy such as China, India, & Indonesia, growing adoption of smart phone as well as growing research activities. For example, from 1990 to 2015, China has published nearly 60,000 papers on smart material providing the support to expand the market in this country. Additionally, in 2012, China’s 12th Five-Year Development Plan for national strategic emerging industries mentioned new materials as one of the seven important industries. Smart materials including shape memory alloys, rare-earth magneto-strictive materials and piezoelectric materials are the major development directions in the Plan. Other than that, new material technology is listed as one of the eight high-technology areas that obtain R&D tax incentives from the government under the R&D Super Deduction and High New Technology Enterprise R&D programs. These type of government supports help the market in this region to grow with high rate.
Key Benefits for Global Smart Material Market Reports–
Global Smart Material Market report covers in depth historical and forecast analysis.
Global Smart Material Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Smart Material Market report helps to identify opportunities in marketplace.
Global Smart Material Market report covers extensive analysis of emerging trends and competitive landscape.
by Product -Piezoelectric Materials, Shape Memory Materials, Electrostrictive Materials, Magnetostrictive Materials, Phase Change Materials, Electrochromic Materials, others
by Application - Actuators & motors, Transducers, Sensors, Structural materials, Others
By Regional & Country Analysis
US, Mexico, Chily, Canada, Europe, UK, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East
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