Smart Materials Market Shares, Strategies and Forecasts, Analysis and Overview to 2025
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<strong>Smart</strong> <strong>Materials</strong> <strong>Market</strong> <strong>Shares</strong>, <strong>Strategies</strong> <strong>and</strong> <strong>Forecasts</strong>, <strong>Analysis</strong><br />
<strong>and</strong> <strong>Overview</strong> <strong>to</strong> <strong>2025</strong><br />
“It is estimated <strong>to</strong> develop at a substantial CAGR for the duration<br />
of the prediction. Growing acceptance of the resolutions,<br />
internationally, by way of a number of retail businesses is<br />
expected <strong>to</strong> be the cause for the development of the business<br />
above the period of prediction.”<br />
The global <strong>Smart</strong> <strong>Materials</strong> <strong>Market</strong> size is expected <strong>to</strong> value at USD 98.2 billion by <strong>2025</strong>. The market is subject<br />
<strong>to</strong> witness a substantial growth due <strong>to</strong> the growing dem<strong>and</strong> of electronic devices such as sensors <strong>and</strong> actua<strong>to</strong>rs<br />
in various end-user industries, <strong>and</strong> aerospace & defense sec<strong>to</strong>r. Globally, the smart materials industry is<br />
predicted <strong>to</strong> grow at CAGR of 13.5% in forecast period, providing numerous opportunities for market players <strong>to</strong><br />
invest for research <strong>and</strong> development in the market.<br />
Rising adoption of au<strong>to</strong>matic, <strong>and</strong> high-tech machines have led <strong>to</strong> the increased dem<strong>and</strong> for piezoelectric<br />
materials, in the last few years. Numerous initiatives by local government <strong>and</strong> private bodies in order <strong>to</strong> promote<br />
the adoption of non-conventional energy resources rather than fossil fuels have propelled the dem<strong>and</strong> for smart<br />
materials such as piezoelectric devices in the market, in recent years. Numerous benefits offered by smart<br />
materials such as reliability, <strong>and</strong> cost-effectiveness, are vital for sustained growth of the smart materials market<br />
during the forecast period. Rising popularity of the piezoelectric material among end-user industries is one of<br />
the critical fac<strong>to</strong>r for the growth of smart materials industry, in recent years.<br />
High-end dem<strong>and</strong> from aerospace engineering industry <strong>to</strong> achieve high performance level <strong>and</strong> fuel efficiency,<br />
has led <strong>to</strong> growth of the smart materials market over the last few years. <strong>Smart</strong> systems have gained popularity<br />
in both - aeronautical <strong>and</strong> astronautical engineering & sciences. Development of latest technology involving the<br />
use of the smart materials has fueled dem<strong>and</strong> for smart materials.<br />
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Subsequently, rise in the global warfare are motivating the war-<strong>to</strong>rn countries <strong>to</strong> largely invest in enhancing<br />
their defense capabilities, involving l<strong>and</strong>, air, <strong>and</strong> naval forces.<br />
A substantial increase in the defense budget by number countries are predicated <strong>to</strong> boost dem<strong>and</strong> of advanced<br />
intelligent materials. <strong>Smart</strong> materials are largely used in defense sec<strong>to</strong>rs during manufacturing of high-end<br />
weapons <strong>and</strong> warfare systems. Development of numerous warfare strategies <strong>to</strong> strengthen war technologies,<br />
which includes cyber warfare, intelligence tactics, <strong>and</strong> precision strike capabilities, are anticipated <strong>to</strong> fuel the<br />
dem<strong>and</strong> of smart materials in coming years. Though, absence of high-end expertise during designing <strong>and</strong><br />
manufacturing of such systems are negatively impacting growth of the market. Additionally, limited commercial<br />
viability of the devices coupled with lack of awareness among end users are restring growth of the market, in<br />
recent years.<br />
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<strong>Smart</strong> materials, also termed as intelligent or responsive materials, that specifically designed <strong>to</strong> include multiple<br />
properties, which makes them <strong>to</strong> respond during external stimuli in controlled way. The external stimulus<br />
includes the changes in atmospheric pressure, temperature, humidity content, pH level, electric field, magnetic<br />
field, light intensity, <strong>and</strong> bio-chemical reactions. <strong>Smart</strong> materials are used in various application such as sensors,<br />
transducers, artificial muscles, <strong>and</strong> electrically activated polymers (EAP's). <strong>Smart</strong> materials are widely popular<br />
in electrically activated polymers (EAP's) application. <strong>Smart</strong> materials offer numerous advantages such as selfadaptability,<br />
in-built mechanism, inbuilt healing properties, <strong>and</strong> memory driven capability in wide range of<br />
applications.<br />
The smart materials industry is divided in<strong>to</strong> regional market segment such as North America, Europe, Asia-<br />
Pacific, Latin America <strong>and</strong> Africa. North America <strong>and</strong> European region has shown major growth in recent years<br />
owing <strong>to</strong> substantial funding by local governments in research & development of innovative products, rise in<br />
the implementation of latest technologies <strong>and</strong> existence of well-established industrial infrastructure.<br />
Asia-Pacific region is predicted <strong>to</strong> hold major market share in the smart materials market with massive growth<br />
in forecast period. Countries such as India, China <strong>and</strong> Singapore are leading the Asia-Pacific’s market with<br />
favorable governmental policies, rise in the adoption in aerospace & defense, healthcare, au<strong>to</strong>motive, <strong>and</strong><br />
building & construction sec<strong>to</strong>rs <strong>and</strong> significant investment by leading industry players considering potential<br />
opportunities in the region. The key players in the smart materials industry are APC International Limited, Harris<br />
Co., CeramTec Group, Kyocera Co., TDK Co., <strong>and</strong> CTS Co.<br />
<strong>Market</strong> Segment:<br />
Product Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• Piezoelectric materials
• Shape memory materials<br />
• Electrostrictive materials<br />
• Magne<strong>to</strong>strictive materials<br />
• Phase change materials<br />
• Electrochromic materials<br />
• Others<br />
Application Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• Actua<strong>to</strong>rs & Mo<strong>to</strong>rs<br />
• Transducers<br />
• Sensors<br />
• Structural materials<br />
• Others<br />
Regional Outlook (Revenue, USD Million; 2014 - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Europe<br />
• Germany<br />
• UK<br />
• Asia Pacific<br />
• China<br />
• Japan<br />
• Central & South America<br />
• Brazil
• MEA<br />
• South Africa<br />
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