The global Smart Materials market was valued at US$ 4746 million in 2019 and it is expected to reach US$ 7610.5 million by the end of 2026, growing at a CAGR of 6.9% during 2021-2026.
Smart materials are the basis of many applications, including sensors and actuators, or artificial muscles, particularly as electroactive polymers (EAPs). Terms used to describe smart materials include shape memory material (SMM) and shape memory technology (SMT).
The European market has matured and developed over the past few years and will continue to maintain this trend in the coming years. In the European market, Germany, the United Kingdom, France and Italy all play important roles, especially in Germany, which has an absolute advantage in the European market. Due to strong demand from China, India and Southeast Asian countries, the Asia Pacific region will occupy an increasingly important position in the global smart materials market.
Electrochromic materials account for the largest share of the global industry. Shape memory alloys and shape memory polymers are expected to be the fastest growing products in the forecast period. Nitinol, copper-based alloys and various shape memory polymers are used in a wide range of actuators, motors, sensors and structural products. .
Currently, Harris, MURATA, Solvay, Johnson Matthey, Gentex Corporation, Saint-Gobain (Sage Glass), View and LCR Hallcrest are the leading manufacturers in the industry. Gentex corporation is a global market leader.
Clearly, smart materials have shown a clear competitive advantage. In the past few years, strong downstream demand has driven the industry’s growth. Rising prices may affect the development of this industry. We believe that the future of the industry is undoubtedly bright. The premise of intelligent transportation, smart home, and intelligent life is smart materials.
Global Smart Materials Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Smart Materials Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Harris, Murata, Solvay, Johnson Matthey, Arkema, Meggitt Sensing, Kyocera, Piezo Kinetics, Gentex Corporation, Saint-Gobain (Sage Glass), View, Chromogenics, Lcr Hallcrest, Nitinol Devices & Components, Saes Getters, G.Rau, Ati Wah-Chang, Fort Wayne Metals and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-smart-materials-market-research-report
Segment by Type
- Piezoelectric Materials
- Shape Memory Material
- Electrochromic Materials
- Shape Memory Polymer
- Thermochromic Materials
Segment by Application
- Electronic Industry
- Food and Beverages
- Biomedical Industry
Table of Content:
1 Smart Materials Market Overview
2 Smart Materials Market Competition by Manufacturers
3 Smart Materials Retrospective Market Scenario by Region
4 Global Smart Materials Historic Market Analysis by Type
5 Global Smart Materials Historic Market Analysis by Application
6 Key Companies Profiled
7 Smart Materials Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Smart Materials Market Dynamics
10 Global Smart Materials Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.