Smart Materials Market By Product(Smart Hydrogels, Smart Fluids, Shape Memory Polymers, Magnetostrictive Materials, Electrostrictive Materials, and Piezoelectric Materials), Application (Sensors, Structural Materials, Transducers, Actuators,andMotors), End User Industry (Pharmaceutical & Healthcare, Defense& Aerospace, Automotive, and Consumer Electronics)-Analysis & Forecast 2020 - 2030.
Report ID : 316 | Published Date : Jul 2020 | Pages : 160 | Region : Global | Report Code : CM-31
Smart Material Market Overview and Introduction
Smart materials are intelligent materials that can change their physical properties depending on certain environmental conditions.The two best examples of smart material are shape memory polymers and shape memory alloys. These materials change their shapes when heated up to specific temperatures. Smart materials are being developed in the form of plastics, ceramics, metals, and liquids so that they can react to specified stimuli such as when there is any change in temperature, moisture, pH, electric, stress, and magnetic fields.
Rapid technological advancements, the increasing adoption of smart materials products among various end-user industries and various government & non-government initiatives to encourage the use of smart materialswillcontribute significantlyto market growth.
The global smart material market can be segmented intoproduct, application, end user industry, and regions.
Smart Materials Market By Product
Based on product, the market can be segmented into smart hydrogels, smart fluids, shape memory polymers, magnetostrictive materials, electrostrictive materials, piezoelectric materials, and others.Piezoelectric materialsare expected to hold the largest market share during the forecast perioddue to theirincreasing popularity among end-user industries, particularly in households and automotive applications. These materials can generate internal electrical charge from applied mechanical stress.
Smart Materials Market By Application
Based on application, the market can besegmented into sensors, structural materials, transducers, actuators & motors, and others. The actuators & motors segment is expected to dominate the market during the forecast perioddue to utilization across various industry verticals.
Smart Materials Market By End User Industry
Based on end user industry, the market can be segmented into pharmaceutical & healthcare, defense &aerospace, automotive, and consumer electronics,amongothers. The defense & aerospace segment is expected to hold the largest market share in the forecast period as smart materials are utilized heavily in defense sectors during the manufactureof high-end weapons and warfare systems.
Smart Materials Market By Region
Based on region,the global smart material market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the smart material market, followed by Asia Pacific. The growth in North Americacan be attributed to various R&D activities coupled with increasing technological advancements.
Smart Materials Market Prominent Players
Some of the prominent players in the smart material market include AMETEK, Inc., SMART MATERIAL CORP.,TDK Corporation, BC Partners, APC International, Ltd., CTS Corporation, Piezo Kinetics, Inc., KYOCERA Corporation, PARKER HANNIFIN CORP, and others.