Market Research Report
Smart Materials - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||907634|
|Published||Content info||179 Pages
Delivery time: 2-3 business days
|Smart Materials - Global Market Outlook (2017-2026)|
|Published: July 19, 2019||Content info: 179 Pages||
According to Stratistics MRC, the Global Smart Materials Market is accounted for $36.13 billion in 2017 and is expected to reach $127.04 billion by 2026 growing at a CAGR of 15.0% during the forecast period. Some of the key factors fueling the market are demand for sensors and actuators in consumer goods and electronics and aerospace & defense. However, absence of high-end expertise during designing, manufacturing, limited commercial viability of the devices coupled with lack of awareness among end users hampers the market growth of smart materials market.
Smart materials, called also intelligent or responsive materials, are designed materials that have one or more properties that can be significantly changed in a controlled fashion by external stimuli, such as stress, moisture, electric or magnetic fields, light, temperature, pH, or chemical compounds. Smart materials are the basis of many applications, including sensors and actuators, or artificial muscles, particularly as electro active polymers.
Based on Application, Transducers segment is constantly enhancing due to its properties A transducer is a device that converts energy from one form to another. Usually a transducer converts a signal in one form of energy to a signal in another. Transducers are often employed at the boundaries of automation, measurement, and control systems, where electrical signals are converted to and from other physical quantities.
By Geography, North America is anticipated to exhibit the considerable growth due to primarily owing to significant demand for smart actuators & motors in key industries such as automotive, consumer goods, and aerospace. in this region.
Some of the key players in Global Smart Materials market are APC international Ltd., Ceram tech, Fine tubes Ltd., Harris corporation, Kyocera corporation, LORD corporation, Noliac A/S, Piezo kinetics Inc., Smart material corporation and TDK corporation.
Note: The tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.