Smart Materials Market Size, Gross Margin Analysis, Global Overview, Sales Revenue, Future Prospects, Opportunity Assessment and Potential of Industry From 2018-2023

Market Research Future
Market Research Future published a research report on “Smart Materials Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Smart Materials Market   – Overview

Smart materials are designed materials which possess one or more than one property which reacts to changes in environment. The changes altered can be controlled by external factors like pressure, humidity, temperature, moisture and many others.  There are a number of types of smart materials available such as piezoelectric materials, thermo-responsive materials, magneto restrictive materials, PH-sensitive materials, chromogenic and many others. In general all these materials are classified into two categories active and passive. Active materials are capable of changing their geometrical shape when forced by an external factor such as electric and magnetic fields.  piezoelectric materials, magneto-strictive materials and other ER fluids are considered as active smart materials. While, passive materials lack the natural capability to transduce energy.

Due to the varied response to the external factors, these materials find wide range of applications in automotive, consumer electronics, healthcare, military and defence and many others. Smart materials integrated with sensors and micro electro mechanical systems (MEMS) are deployed widely in healthcare for cure monitoring, as artificial organs, healing process , joint replacements and many others. The rising demand for piezo –electronic devices in various end-user applications are fuelling the market growth. The rising demand from structural engineering, nuclear industries and military organizations are driving the market.

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Industry News

April, 2018 – Researchers at Dartmouth College U.S., developed a smart ink that turns 3D-printed structures into objects that can change shape and colour. The printing material is made from integration of intelligent molecular systems into molecular gel which helps in transforming structures from nanoscale to macroscale. By using smart materials the printed objects can be reduced to 1% of their original sizes with 10 times the resolution.

Dec, 2017 – Researchers from Carnegie Mellon University, U.S., developed smart walls, which are capable of responding to touch, swipes, taps and gestures. The walls are capable of adjusting the colour based on the electronic appliances working. Users can control the electronic appliances with gesture movements on walls.

Key Players

Some of the prominent players in the global Smart Materials Market:  APC International (U.S.), Harris Corporation (U.S.), CeramTec (Germany), Kyocera Corporation (Japan), TDK Corporation (Japan), Noliac A/S (Denmark), Wright Medical Group, Inc. (U.S.), Channel Technologies Group (U.S.), LORD Corporation (U.S.) among others.

Global Smart Materials Market   – Segmentation

The smart materials market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

  • Segmentation by product: Comprises piezoelectric materials, shape memory materials, electrostrictive materials, magnetostrictive materials, phase change materials, electrochromic materials
  • Segmentation by Application: Comprises actuators & motors, transducers, sensors, structural materials
  • Segmentation by Industry: Comprises consumer electronics, healthcare, automotive, defence & aerospace, construction and many others
  • Segmentation By Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

Global Smart Materials Market   – Regional Analysis

The global smart materials market is observed for North America, Europe, Asia Pacific and rest of the world. North America holds the major market share in the year 2017 and is expected to continue through the forecast period. The rise in demand for smart materials across consumer electronics and rapid adoption across construction segments are driving the market growth in this region. Europe holds significant growth during the forecast period. The strong presence of automotive industries and rapid adoption among robotics are driving the market in this region. However, Asia pacific is expected to show high growth rate during the forecast period. The research and developments within the region, and supporting government initiatives are driving the market in the region.

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Intended Audience:

  • Research/Consultancy firms
  • Technology Solution Providers
  • Original Equipment Manufacturers
  • Government bodies
  • Automotive Industry
  • Civil Industry

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