Smart Materials Market Size, Share, Growth, Trends, Key Vendors and Forecast to 2027

Smart materials are adaptive or advanced materials that can sense and respond to electrical stimuli to alter their magnetic fields, pressure, mechanical stress, temperature, hydrostatic pressure, nuclear radiation, and pH change. Some of the commonly used smart materials include piezoelectric, magneto-rheostatic, electro-rheostatic, conductive polymer, electroactive polymer, and shape memory alloys. They have the ability to alter one or more properties when the external stimuli are applied to the material. They also offer viscosity, volume, and conductivity properties, which can be altered according to the end-user application.

Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027

The global smart materials market reached a value of US$ 47.36 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 92.48 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.

Smart Materials Market Trends and Drivers:

The global smart materials market is primarily driven by the rising adoption of smart materials in complex technical systems by incorporating additional functionalities and properties. For instance, these materials are utilized in energy supply systems for microelectronic components.

Moreover, various governmental and non-governmental bodies are undertaking initiatives to encourage industries to invest and use smart materials, thereby escalating the demand for smart materials. Furthermore, the rising awareness among employees about workplace safety and protection from hazardous conditions represents another major growth-inducing factor catalyzing the adoption of smart materials in protective clothing.

Besides this, technological advancements and increasing investment in research and development (R&D) activities to introduce biodegradable and biocompatible smart materials are creating a positive outlook for the market.

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Global Smart Materials Market 2022-2027 Analysis and Segmentation:

 The report has segmented the market on the basis of region, product, application and end use industry.

Breakup by Product:

  • Piezoelectric Materials
  • Shape Memory Materials
  • Electrostrictive Materials
  • Magnetostrictive Materials
  • Phase Change Materials
  • Electrochromic Materials
  • Others

Breakup by Application:

  • Transducer
  • Actuators and Motors
  • Sensors
  • Structural Materials
  • Others

Breakup by End Use Industry:

  • Automotive
  • Consumer Electronics
  • Aerospace and Defense
  • Healthcare
  • Industrial
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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Competitive Landscape:

 The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

APC International Ltd, Arkema S.A, Confluent Medical Technologies, CTS Corporation, Gentex Corporation, Johnson Matthey, Kyocera Corporation, Meggitt PLC, Murata Manufacturing Co. Ltd, Piezo Kinetics Inc. (The Crest Group Incorporated), SAGE Electrochromics Inc. (Saint-Gobain S.A.) and Solvay S.A.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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