About Smart Materials
Smart materials are designed to respond suitably to external stimuli such as temperature, stress, moisture, pH, electric field, and magnetic field. Smart materials possess one or more properties that can be changed significantly in a controlled manner. Some examples of smart materials include shape memory alloys, photovoltaic materials, halochromic materials, and temperature-responsive polymers. Rising demand for sensors and actuators in consumer electronics, aerospace & defense, and consumer goods have propelled the demand.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Smart Materials market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
APC International (United States), Harris Corporation (United States), CeramTec (Germany), Kyocera Corporation (Japan), TDK Corporation (Japan), Noliac A/S (Denmark), Wright Medical Group, Inc. (United States), Channel Technologies Group (United States), LORD Corporation (United States) and Honeywell Electronic Materials, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Johnson Matthey Piezo Products GmbH (Germany), Solvay SA (Belgium), Ultimate Niti Technologies, Inc. (United States), Morgan Advanced Materials PLC (United Kingdom), Croda International PLC (United Kingdom) and Smart Material Corp. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Materials market by Type (Piezoelectric Materials, Shape Memory Materials, Electrochromic Materials, Electroactive Polymers, Magnetostrictive Materials and Others (Magneto-Rheostatic Materials, Electro-Rheostatic Materials, PH Sensitive Polymers, Photovoltaic, Ferro Fluids, Etc.)), Application (Actuators & Motors, Transducers, Sensors and Others (Structural materials, and Coatings)) and Region.
On the basis of geography, the market of Smart Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Solid will boost the Smart Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Consumer Electronics will boost the Smart Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Lead-Free Piezoceramics Alternative to Lead-Based PZT and Energy Harvesting Applications Get a Boost with Biodegradable Piezoelectric Polymer
Market Growth Drivers:
Rising Consumer Preferences for Automated & High-End Machines and Gadgets, Replacement of Conventional Materials in Automotive Industry and Rise in the Defense Budget of Key Economies
Challenges:
Lack of Awareness among End-Users and High Manufacturing and Production Cost
Restraints:
Lack of Expertise in Designing Systems Based On Smart Materials and Stringent Government Regulation in the European Countries
Opportunities:
Growing Research & Innovation Strategies Supported By Government and Universities and Introduction of Internet of Things (IoT) and Rising Demand for Connected Device
Market Leaders and their expansionary development strategies
In January 2018, The Noliac companies have announced the merger of their two subsidiary companies, known as Noliac Systems S.R.O and Noliac Ceramics S.R.O.
In April 2017, Noilac A/S has received funding from the European Union to conduct a research study for the development of new piezoceramic materials for high-power applications.
The EU Directive on the Restriction of Hazardous Substances (RoHS) has restricted the use of lead oxides in the production process, owing to its environmental toxicity. As a result, manufacturers are strengthening the development of lead-free products based on binary and ternary systems.
Key Target Audience
Smart Materials Manufacturers, Raw Material Suppliers, Research/Consultancy firms, Technology Solution Providers, Traders/Exporters/Importers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.