The global smart materials market size reached USD 59.23 Billion in 2021 and is expected to register a revenue CAGR of 13.4% during the forecast period, according to a latest analysis by Emergen Research. Rising demand for smart materials in consumer electronics is the key factor driving revenue growth of the market. Smart materials are those that have been engineered to change some of their properties in response to external stimuli, such as mechanical stress or a specific temperature, moisture, and others. These are most widely used in the manufacture of electronic instruments such as actuators, electroactive polymers, and sensors. These materials have characteristics that alter in response to environmental changes. A wide variety of smart materials, including carbon nanotubes, inorganic nanoparticles, conducting polymers, and graphene, are now available due to the advancement of nanotechnology. Rising revenue growth of the consumer electronics industry across the globe creates a high demand for smart materials. Smart materials are used in the manufacture of sensors and actuators owing to its advantages such as fast response, high energy density, and compact size.
The Global Smart Materials Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2022-2030. The report studies the historical data of the Smart Materials market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Smart Materials industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Smart Materials market.
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Top competitors of the Smart Materials Market profiled in the report include:
TDK Corporation, Kyocera Corporation, APC International, Ltd., CeramTech GmbH, Harris Corporation, Noliac A/S., Ametek Inc., CTS Corporation, LORD Corporation, and Metamaterial Inc.
Some Key Highlights from the Report
- The piezoelectric materials scale segment accounted for largest revenue share in 2021 due to the growing adoption of these materials in Defense & aerospace. Piezoelectric materials are already used in advanced weapons systems. Smart materials are being examined by the aviation and aerospace industries to increase overall performance and fuel efficiency.
- The structural materials segment is expected to register a steady revenue growth rate over the forecast period due to the rising demand for these materials in structural health monitoring. Smart materials-based structural sensors, such as piezoelectric sensors, fiber optic sensors, magnetostrictive sensors, and self-diagnosing fiber-reinforced structural composites, have critical capacities for sensing numerous physical and chemical parameters relevant to structure health.
- The market in Asia Pacific is expected to register a significantly fast revenue growth rate during the forecast period due to the growing adoption of electronics devices and growing research and development activities regarding smart materials in countries across the region, especially in China, Japan, and India. In addition, rising adoption of smart materials in automotive applications is expected to support revenue growth in this region.
- On 1 December 2021, AMETEK, Inc., an American manufacturer of electronic instruments company, announced the acquisition of Alphasense, which is a gas and particulate sensors manufacturer. Alphasense offers crucial measurements of hazardous gases, oxygen content, and volatile organic compounds.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Emergen Research has segmented global smart materials market on the basis of product, application, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Piezoelectric Materials
- Electrochromic Materials
- Phase Change Materials
- Electrostrictive Materials
- Magnetostrictive Materials
- Shape Memory Materials
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Structural Materials
- Actuators & Motors
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Consumer Electronics
- Defense & Aerospace
Regional Analysis of the Smart Materials Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the Smart Materials market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Smart Materials business sphere.
Key Objectives of the Report:
- Analysis and estimation of the Smart Materials market size and share for the projected period of 2022-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Smart Materials market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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