Smart Materials - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Smart Materials Market is accounted for $34.75 billion in 2017 and is expected to reach $91.82 billion by 2026 growing at a CAGR of 11.4% during the forecast period. Some of the key factors fueling the market are demand for sensors and actuators in consumer goods and electronics and aerospace & defense. However, absence of high-end expertise during designing, manufacturing, limited commercial viability of the devices coupled with lack of awareness among end users hampers the market growth of smart materials market.
Smart materials, called also intelligent or responsive materials, are designed materials that have one or more properties that can be significantly changed in a controlled fashion by external stimuli, such as stress, moisture, electric or magnetic fields, light, temperature, pH, or chemical compounds. Smart materials are the basis of many applications, including sensors and actuators, or artificial muscles, particularly as electro active polymers.
Based on Application, Transducers segment is expected to grow at a significant rate during the forecast period. A transducer is a device that converts energy from one form to another. Usually a transducer converts a signal in one form of energy to a signal in another. Transducers are often employed at the boundaries of automation, measurement, and control systems, where electrical signals are converted to and from other physical quantities.
By Geography, North America is anticipated to exhibit the considerable growth due to primarily owing to significant demand for smart actuators & motors in key industries such as automotive, consumer goods, and aerospace. in this region.
Some of the key players in Global Smart Materials market are APC international Ltd., Ceram tech, Fine tubes Ltd., Harris corporation, Kyocera corporation, LORD corporation, Noliac A/S, Piezo kinetics Inc., Smart material corporation and TDK corporation.
• Actuators & Motors
• Arthroscopy Surgeries
• Cardiovascular Surgeries
• Construction Industry
• ENT Surgeries
• Gastrointestinal Surgeries
• Heat Transfer
• Laparoscopy Surgeries
• Neuro/Spinal Surgeries
• Structural Materials
• Urology/Gynecology Surgeries
• Other Applications
• Electrochromic Materials
• Piezoelectric Materials
• Shape Memory Materials
• Electrostrictive Materials
• Magnetostrictive Materials
• Phase Change Materials
• Operative Devices
• Visualization Systems
• Smart Fluids
• Smart Hydrogels
• Smart Inorganic Polymers
• Temperature-Responsive Polymers
• Other Products
End Users Covered:
• Consumer Electronic
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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