Global Smart Materials Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Materials Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global Smart Materials market report has been segmented on the basis of product type, application, end user, and region.
Global Smart Materials Market: Overview
Smart materials can sense and respond to wide range stimuli, such as electric and magnetic fields, temperature, pressure, mechanical stress, hydrostatic pressure, nuclear radiation, and pH change. Piezoelectric, magneto-rheostatic, electro-rheostatic, and other shape memory alloys are the most widely used smart materials.
Global Smart Materials Market: Dynamics
Rising technological advancements and increasing adoption of developed materials such as polymers, metal, and glass across various industries such as automotive, consumer electronics, and healthcare is a major factor expected to drive growth of the global market over the forecast period.
In addition, increasing investment for research and development activities in order to develop innovation in smart materials is another factor expected to further fuel growth of the target market over the forecast period.
Moreover, rising initiative by various government and non-government organizations towards increasing awareness and fuel uptake of smart materials. For instance, Centexbel launched a new TIS action along with Sirris to educate companies about the various applications of smart materials that are available commercially.
Moreover, increasing demand for consumer electronics and availability of wide range of applications for smart sensors are some other factors expected to boost growth of the target market over the forecast period.
Additionally, introduction of internet of things (IoT) and the rising demand for connected devices is another factor propel growth of the global market.
However, high manufacturing cost and increasing investment cost for research and development are some factors restraining growth of the target market over the forecast period.
Ongoing trend observed in the target market is increasing demand for smart packaging in consumer goods, this trend is expected to support growth of the target market over the forecast period.
Technological advancements and innovative product launches by manufacturers are expected to create potential revenue opportunities for players operating in the global market over the forecast period.
Global Smart Materials Market: Segment Analysis
Among the product type segments, the piezoelectric materials segment is expected to dominate in the global market owing to rising adoption of piezoelectric materials in households and automotive applications.
Global Smart Materials Market: Regional Analysis
The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period, owing to increasing demand for smart materials across various industries such as information technology (IT), electrical & electronics, construction, and healthcare in countries in this region. In addition, increasing presence of number of market players across various countries such as US and Canada is another factor expected to support growth of the target market in this region.
The market in Europe is expected to register significant growth in terms of revenue over the forecast period over the forecast period, owing to increasing automobile and electronics industries as well as energy sector in countries in this region.
The market in Asia Pacific is expected to register fastest growth in the global market, owing to growing electronics industry and improved standard of living across countries such as China and India.
Global Smart Materials Market Segmentation:
Segmentation by product type:
- Piezoelectric materials
- Shape memory materials
- Smart fluids
- Smart hydrogels
- Electrochromic materials
Segmentation by application:
- Actuators & motors
- Structural materials
Segmentation by end user:
- Consumer electronic
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- TDK Corporation
- CTS Corporation
- APC International, Ltd.
- Harris Corporation
- CeramTec GmbH
- Kyocera Corporation
- Noliac A/S
- Lord Corporation
- Fort Wayne Metals, Inc.
- I. Technology, Inc.
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