The modern-day document posted via Report Ocean, titled “Smart Material Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
Smart materials are adaptive or intelligent materials that possess intrinsic and extrinsic capabilities, which can be altered by external stimuli such as moisture, temperature, electromagnetic field, and pressure to obtain the desired functional effects. In addition, these materials are dynamic in nature and respond to their immediate interaction environments by adapting their characteristics. Advancement in the materials science sector resulted in the development of materials for specific applications, which was previously not possible with the use of conventional materials such as polymers/plastics, metals, glass, and ceramics. The smart material market is valued at $72.63 billion for the period 2015 – 2022.
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Besides this, the smart material market is expected to register a CAGR of 14.9% during the assessment period. Smart materials are capable of working at a very basic functional level and can be used in complex technical systems by incorporating additional functionalities and properties. For instance, smart materials can be used in energy supply systems for microelectronic components. These attributes have attracted many end-users to the smart materials market. Rapid demand for smart materials, piezoelectric and biomimetic materials have now caught the attention of major ainvestors worldwide. The demand for piezo-electric materials is significant in North America. Manufacturers specializing in thermally responsive materials and other materials such as smart fluids and smart hydrogels will keep many stakeholders interested in the smart material market.
Smart materials are used in applications such as transducers, actuators & motors, and structural materials. The market for smart materials is driven by growing adoption of smart materials products among various end-user industries, such as defense & aerospace, automotive, and consumer electronics; supportive government initiatives & plans; and increasing R&D investment by prominent smart material market players to optimize the cost and quality of smart materials. The demand for smart materials is on a rise worldwide on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs). This will open new opportunities for the smart materials market worldwide.
The market is segmented on the basis of application, end user, and geography. By application, it is divided into transducers, actuators & motors, sensors, structural materials, and coatings. Based on end user, it is classified into industrial, defense & aerospace, automotive, consumer electronics, healthcare, and others (civil engineering and retail). The world smart material market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA.
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COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
KEY BENEFITS:
This report provides an in-depth analysis of the world smart material market to elucidate opportunities in the smart materials market
Current trends, future estimations and smart materials application are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold.
A quantitative analysis of the types of smart materials in market from 2016 to 2022 is provided to highlight the financial competency of the market.
Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
Value chain analysis provides a clear understanding of the roles of stakeholders involved.
The companies profiled in the report are KYOCERA Corporation, Noliac A/S, APC International, Ltd., TDK Corporation, CTS Corporation, Channel Technologies Group, LLC, LORD Corporation, Advanced Cerametrics, Inc., Metglas Inc., and CeramTech GmbH.
SMART MATERIAL MARKET SEGMENTATION:
By Application
Transducers
Actuators & Motors
Sensors
Structural Materials
Coatings
By End User
Industrial
Defense & Aerospace
Automotive
Consumer Electronics
Healthcare
Others (Civil Engineering and Retail)
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Singapore
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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