Smart Materials Market Synopsis By Future Scope, Recent Trends, Profit Margin and Sales Channels, 2025

Felton, Calif., USA, Apr. 16, 2021 — /EPR Network/ —

The global Smart Materials Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Smart Materials Market size is expected to value at USD 98.2 billion by 2025. The market is subject to witness a substantial growth due to the growing demand of electronic devices such as sensors and actuators in various end-user industries, and aerospace & defense sector. Globally, the smart materials industry is predicted to grow at CAGR of 13.5% in forecast period, providing numerous opportunities for market players to invest for research and development in the market.

Key Players:

• CeramTec
• Kyocera Corporation
• LORD Corporation
• Fine Tubes Ltd.
• TDK Corporation
• Smart Material Corporation
• Noliac A/S
• APC International, Ltd.
• Piezo Kinetics, Inc.
• Harris Corporation

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Growth Drivers:

Rising adoption of automatic, and high-tech machines have led to the increased demand for piezoelectric materials, in the last few years. Numerous initiatives by local government and private bodies in order to promote the adoption of non-conventional energy resources rather than fossil fuels have propelled the demand for smart materials such as piezoelectric devices in the market, in recent years. Numerous benefits offered by smart materials such as reliability, and cost-effectiveness, are vital for sustained growth of the smart materials market during the forecast period. Rising popularity of the piezoelectric material among end-user industries is one of the critical factor for the growth of smart materials industry, in recent years.

High-end demand from aerospace engineering industry to achieve high performance level and fuel efficiency, has led to growth of the smart materials market over the last few years. Smart systems have gained popularity in both – aeronautical and astronautical engineering & sciences. Development of latest technology involving the use of the smart materials has fueled demand for smart materials. For instance, advent of Extreme Accuracy Tasked Ordinance (EXACTO) bullet by The Defense Advanced Research Projects Agency (DARPA) that uses smart actuators, is expected to revolutionizes future of weapons manufacturing in coming years. Subsequently, rise in the global warfare are motivating the war-torn countries to largely invest in enhancing their defense capabilities, involving land, air, and naval forces.

Product Outlook:

• Piezoelectric materials
• Shape memory materials
• Electrostrictive materials
• Magnetostrictive materials
• Phase change materials
• Electrochromic materials

Application Outlook:

• Actuators & Motors
• Transducers
• Sensors
• Structural materials

Regional Outlook:

The smart materials industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America and European region has shown major growth in recent years owing to substantial funding by local governments in research & development of innovative products, rise in the implementation of latest technologies and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the smart materials market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific’s market with favorable governmental policies, rise in the adoption in aerospace & defense, healthcare, automotive, and building & construction sectors and significant investment by leading industry players considering potential opportunities in the region.

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