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.
|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.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/smart-materials-market
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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
Breakup by Application:
- Actuators and Motors
- Structural Materials
Breakup by End Use Industry:
- Consumer Electronics
- Aerospace and Defense
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
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/smart-materials-market/requestsample
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800