PUBLISHER: SkyQuest | PRODUCT CODE: 1270783
PUBLISHER: SkyQuest | PRODUCT CODE: 1270783
Global Smart Materials Market Size, Share, Growth Analysis, By Product Type(Piezoelectric materials, Electro-rheostatic), By Application(Actuators & motors, Sensors), By End-Use(Industrial, Defense) - Industry Forecast 2022-2028
Global Smart Materials Market size was valued at USD 47.56 billion in 2021 and is poised to grow from USD 52.6 billion in 2022 to USD 130.25 billion by 2030, growing at a CAGR of 10.6% in the forecast period (2023-2030).
Smart materials, often known as adaptive or intelligent materials, have properties that are both intrinsic and extrinsic. External elements including moisture, temperature, electromagnetic field, and pressure can change them in order to provide the desired functional results. These materials are also dynamic by nature, meaning that they immediately adapt their properties to the environments with which they interact. Due to developments in the field of materials science, materials for specialised uses have been produced that were previously impractical when using conventional materials like polymers/plastics, metals, glass, and ceramics. Smart materials may perform at a very basic level, such as temperature, and by adding other capabilities and qualities, they can be employed in more complex technical systems. For example, energy can benefit from the use of smart materials. For instance, smart materials can be used in energy supply systems for microelectronic components.
Structural materials, actuators and motors, and transducers are among the uses for smart materials. The market for smart materials is being driven by the increase in the use of smart materials products across a variety of end-user industries, including defence & aerospace, automotive, and consumer electronics. Additionally, favourable government initiatives & plans, as well as an increase in major players' R&D spending to optimise the cost and quality of smart materials, are also driving the market. The rise of the Internet of Things and the potential for growth in emerging nations have both increased the need for smart materials.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Smart Materials Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments Covered in this report
Global Smart Materials Market is segmented on the basis of product type, application, end user, and Region. Based on product type, the Smart Materials Market is segmented as piezoelectric materials, electro-rheostatic, magneto-rheostatic, shape memory materials, smart fluids, smart hydrogels, electrochromic materials and others. On the basis of the application the Smart Materials Market is segmented as actuators & motors, sensors, transducers, structural materials, and others. The Smart Materials Market on the basis of the end user is classified as industrial, defense, aerospace, automotive, consumer electronic and healthcare. Based on the region, the Smart Materials Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, South America.
Driver
- In the aerospace industry, piezoelectric smart materials are utilised to direct and maintain airflow across an aircraft's wings during takeoff and landing. Additionally, these materials are known for their ability to handle issues with cold-weather control surfaces, turbulence-induced flow separation, ice buildup on wings, and high cabin noise in addition to handling regular aviation issues like engine vibration. To handle the ongoing growth in air travel between developed and developing countries, airlines are anticipated to replace older aircraft with more fuel-efficient models and increase their fleets. Passenger air travel has grown at a 6.5% annual rate over the last ten years, significantly higher than the long-term average of 5%.
- Smart materials are now being used more frequently across a variety of end-user industries as production techniques have improved and better materials have been employed. Applications for smart materials are anticipated to increase rapidly and will be essential to the market's growth. Therefore, during the anticipated time frame, a significant impact is anticipated. For materials like piezoelectric, shape memory, electrostrictive, magnetostrictive, phase change, and electrochromic, numerous industrial uses have recently been developed. Additionally, carbon nanotube actuators, electroactive polymers, conductive polymers, and ferromagnetic shape memory alloys are only a few examples of the cutting-edge technologies with great market potential.
Market Restraints for Smart Materials * The high cost of smart materials is currently lagging behind many industries, especially small and medium-sized enterprises (SMEs). Throughout the forecast period, a variety of efforts and programmes aimed at encouraging businesses to adopt and invest in smart materials are anticipated to have an influence.
- Due to the increased demand for better smart materials and products from a variety of industries, including construction, manufacturing, and automotive, key players in the smart materials market are expected to invest heavily in R&D in order to introduce effective products and stay ahead of the competition.
Restraint
- On the other hand, the market hasn't been able to grow because of the lack of experience in creating systems based on smart materials. The product's economic potential has also been limited by end users' ignorance, which is anticipated to prevent market expansion throughout the anticipated time frame. However, it is anticipated that initiatives in research and innovation supported by the government and academic institutions will hasten the industrialisation of the product on a large scale.The cost of producing large quantities at high yields for several applications is the main obstacle to the development of smart materials. High production costs and expensive R&D costs limit the market expansion for smart materials.
Market Trends
- The increasing use of chemical products across a range of industries, along with an increase in employee knowledge of workplace safety and protection from hazardous situations, is one of the main factors pushing the use of smart materials in protective apparel. A increasing range of biomedical applications, including cancer targeting, controlled drug delivery, tissue engineering, and biosensors, are also boosting demand for effective, specialised systems, which is expanding the market. This is also brought on by the rise in chronic diseases and trauma-related injuries, as well as the rising need for regenerative medicines and personalised therapies. In addition, smart materials are combined with conventional construction materials to produce structures that can adapt to changing atmospheric conditions in response to the rising demand for energy-efficient building materials.
Table of Contents
Executive Summary
Market overview
- Exhibit: Executive Summary - Chart on Market Overview
- Exhibit: Executive Summary - Data Table on Market Overview
- Exhibit: Executive Summary - Chart on Global Global Smart Materials Market Characteristics
- Exhibit: Executive Summary - Chart on Market by Geography
- Exhibit: Executive Summary - Chart on Market Segmentation
- Exhibit: Executive Summary - Chart on Incremental Growth
- Exhibit: Executive Summary - Data Table on Incremental Growth
- Exhibit: Executive Summary - Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy-scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Global Smart Materials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
- Global Global Smart Materials Market by Product Type
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Piezoelectric materials
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Electro-rheostatic
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Magneto-rheostatic
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Shape memory materials
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Smart fluids
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Smart hydrogels
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Electrochromic materials
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
Global Global Smart Materials Market by Application
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Actuators & motors
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Sensors
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Transducers
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Structural materials
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Global Global Smart Materials Market by End-Use
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Industrial
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Defense
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Aerospace
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Automotive
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Consumer electronic
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Healthcare
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
