Smart Materials Market, Trends & Analysis – Forecasts To 2025

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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Ankita Roy, Treesha Banerjee and
Liza Dsouza from Global Market Estimates throw
the spotlight on the growing Smart Materials
Market. Smart Materials Market Insights The
smart materials market is expected to grow at a
high CAGR during the forecast period. Smart
materials possess intrinsic and extrinsic
capabilities hence, known as adaptive and
intelligent materials. They display
receptiveness in a controlled manner to changing
the environment. Smart materials have a
molecular structure, because of which they can
quickly respond to the wide array of external
stimuli, such as magnetic fields, electric
fields, temperature, pressure, chemicals, and
moisture. Various factors such as rising demand
for actuators and sensors in consumer
electronics, consumer goods and in aerospace and
defense have boosted the demand for smart
materials across the globe. Owing to its dynamic
properties these materials can respond to the
changing environments thereby, adapting their
characteristics. Various U.S. based
organizations such as (DARPA) Defense Advanced
Research Projects Agency and (NSF) National
Science Foundation are encouraging research
programs in order to promote industrial and
commercial usage of smart materials. Numerous
investments have been done in the research
activities of these organizations especially
DARPA in order to evaluate the true potential of
the product in the defense sector. The materials
of this generation exhibit, intelligent and fast
adaptive capabilities in response to specific
stimulus input. They can change their physical
properties such as stiffness, shape, and
viscosity in a precise manner. Multiple
functionalities of the smart materials such as
self-healing, self-sensing, memory, and
self-adaptability make them useful in performing
numerous applications.
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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Smart Materials Market By
Product The smart materials market can be
segmented based on the product into
piezoelectric, shape memory alloys,
electrostrictive, phase change materials,
magnetostrictive, and electrochromic. It is
expected that the piezoelectric material segment
will hold the larger market share during the
forecast period. Stress or mechanical
deformations can induce electric dipoles in these
materials, which can be used in generating
electricity. The piezoelectric material can be
generated through numerous sources, including
synthetic crystals and naturally occurring
crystals. Some of the factors which are driving
the growth of the piezoelectric devices are
rising consumer preference for automated and
high-end gadgets and machines. Various
initiatives are taken by the government to
promote the use of non-conventional energy
sources have increased the demand for the
material. Cost-effectiveness coupled with
reliability and durability is the key advantage
that has resulted in the increased use of the
material in the industrial sector. Smart
Materials Market By Applications The smart
materials market can be segmented based on the
applications into actuators motors,
transducers, sensors, structural materials, and
others. Actuators and motors are amounting to the
largest market share over the past few years and
are expected to hold its dominance during the
forecast period. The segment contributes more
than 50 of global revenue share in the current
period and is expected to grow over the forecast
period. Increased demand for smart actuators and
motors in automotive, consumer goods and
aerospace and defense sector is likely to drive
the market growth. The structural materials
segment is expected to be the fastest growing
segment and is expected to project significant
growth in CAGR during the forecast period.
Increasing demand for structural materials from
the medical industry is driving the market growth
of the material. Biomedical, Structural
engineering, and structural health monitoring are
predicted to be the most lucrative sectors for
this application. Smart Materials Markets By
End Users The smart materials market can be
segmented based on the end users into industrial,
defense and aerospace, automotive, consumer
electronics, healthcare, and others. Regular
investments in the research and development wing
have increased the adoption of smart materials
thereby, increasing the application across
various end-user industries. Various government
initiatives and incentive programs have
encouraged the big industries to invest in the
research and development wing in order to lower
down the cost of these materials. Due to high
manufacturing and installation cost many small
and medium enterprises are not able to adopt
smart materials. It is expected that these
investments will boost the demand for end-user
applications.
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GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
Smart Materials Market Regional Insights North
America is expected to dominate the smart
materials markets, with the U.S. contributing its
majority share. The regions dominance can be
attributed to the various factors such as various
attractive opportunities are created in the
market due to increased defense spending, owing
to increased demand for the product in military
and defense applications. Europe is accounted to
hold the second largest share of the global
revenue in order to meet the increasing demand
of smart material in the developed countries such
as UK, Netherlands, France, Germany, and
Switzerland. In order to promote research
programs, several European organizations such as
Agence Nationale de la Recherch, NL Agency and
the German Foundation for Industrial Research
have provided significant funding in the research
and development wing of the market. Smart
Materials Market End-Use Landscape The end-use
landscape entails a list of current and
prospective consumers prevailing across the
regions. This section provides company addresses,
contact details, products, and regional presence
of companies who are purchasing or are likely to
purchase smart materials over the coming years.
Some companies which are currently using the
smart material or are likely to use are Actuated
Medical Inc., EnOcean, Mide Technology
Corporation, Vesper Technologies, and
others Smart Materials Market Vendor
Landscape The report contains a chapter
dedicated to vendors operating in the market,
covering raw material manufactures, equipment
developers, manufacturers, and distributors. The
report provides these insights on a regional
level. This section of the report entails contact
details, experience, products manufactured/suppli
ed, and geographical presence of companies.
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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• Smart Materials Market Share Competitor
  Analysis
• Some of the key players operating in the smart
  materials markets are Harris Corporation, APC
  International LTD., Kyocera Corporation, TDK
  Corporation, CeramTec and NOLIAC A/S.
• Manufacturers are focusing on developing advanced
  products in order to sustain the competition and
  to gain the competitive edge, thereby supplying
  tailored product to meet changing demand from
  customers across the globe.
• In the year 2016 CTS Corp. acquired NOLIAC A/S in
  order to strengthen their piezoelectric product
  portfolio to expand tape cast manufacturing
  capabilities.
• Governments have funded and provided their
  support to numerous manufacturers for the
  development of advanced and innovative products.
  In April 2017, European Union has funded NOILAC
  A/S to conduct the research study for the
  development of piezoceramic material for high
  powered applications.
• The report segments the Smart Materials Market on
  the basis of By Product
• Piezoelectric
• Shape Memory Alloys
• Electrostrictive
• Magnetostrictive

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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• By End User
• Industrial
• Defense and Aerospace
• Automotive
• Consumer Electronics
• Healthcare and others
• By Region
• North America
• Europe
• Asia Pacific
• Central South America
• Middle East Africa

This article contains text from the Smart
Materials Market Forecast to 2025 report For
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