Market Research Future published a research report on “Smart Materials Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Smart materials displays response in a controlled manner in an environments that change. It comprise of unique molecular structure, smart materials respond to a wide array of external stimuli such as electric fields, magnetic fields, pressure, temperature, moisture, and chemicals.
Technology giants such as APC International (U.S.), Harris Corporation (U.S.), CeramTec (Germany), Kyocera Corporation (Japan), TDK Corporation (Japan), Noliac A/S (Denmark). APC International, a prominent player in Smart Materials Market has manufactured piezo stack actuators that are used as linear electromechanical drives or motors. They act mainly like an expanding element (“pusher”) generating a compressive force. The complete motion cycle is nearly proportional to the voltage signal input from DC up to high frequencies. From an electrical point of view, piezo-actuators behave like electrical capacitors. The induced motion can also be described as the consequence of the variation of the electrical charge content of the piezo actuator. CeramTec, a key player in smart materials market, will be offering a variety of wear protection solutions made of high-performance ceramics for machines and systems for mechanical process engineering as well as handling of powders and bulk material at POWTECH at the Nuremberg Trade Fair Centre. The Noliac companies in Czech Republicis a prominent player in smart materials market. Recently, the company has announced the merger of their two subsidiary companies, known as Noliac Systems s.r.o. and Noliac Ceramics s.r.o., in January 1st 2018.
The major factors driving the growth of smart materials market are the rising demand for sensors and actuators in consumer electronics, aerospace & defense, and consumer goods have propelled the demand. Other aspects such as increasing demand of piezo-electric devices in the different end-user application is likely to trigger the smart materials market. These devices are used in industries such as medical devices, robotics, information, automotive, information technology and telecommunication. Further, bionics and flourishing artificial organ industry are likely to boost the smart materials market. Artificial organs are made up of biomimetic materials with electronic components and systems that are integrated into the human body and act as a replacement for natural organ.
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The global smart materials market is expected to grow at a CAGR of approximately 14% during the forecast period 2017-2023.
Some of the prominent players in the global smart materials market: APC International (U.S.), Harris Corporation (U.S.), CeramTec (Germany), Kyocera Corporation (Japan), TDK Corporation (Japan), Noliac A/S (Denmark), Wright Medical Group, Inc. (U.S.), Channel Technologies Group (U.S.), LORD Corporation (U.S.) among others.
The global color detection market is studied for Asia Pacific, North America, Europe, and Rest of the World. It is observed that North America market was leading in the global smart materials market in 2016, owing to significant demand for smart actuators & motors in key industries such as automotive, consumer goods, and aerospace. Europe accounted for the second-largest share of the market due to presence well-established automotive industry followed by Asia Pacific market. Asia Pacific market is anticipated to exhibit a remarkable growth over the forecast period, owing to significant research activities supported by the government.
Segmentation of Smart Materials Market:
The global smart materials market is segmented by products and application. By product segment the market consists of piezoelectric materials, shape memory materials, electrostrictive materials, magnetostrictive materials, phase change materials, electrochromic materials and others.By application it is segmented into actuators & motors, transducers, sensors, structural materials, and others.
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