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.
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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 ainvestors 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.
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.
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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.
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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The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the global Smart Material Market also experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading Smart Material Market , including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
Transducers Actuators & Motors Sensors Structural Materials Coatings
Industrial Defense & Aerospace Automotive Consumer Electronics Healthcare Others (Civil Engineering and Retail)
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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
KYOCERA Corporation Noliac A/S APC International, Ltd. TDK Corporation CTS Corporation Channel Technologies Group, LLC
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
Key questions answered in the global Smart Material Market report are:
How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the chemical market over the forecast period?
What are the factors driving and restraining the market for chemicals?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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