Vancouver, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The global smart materials market size reached USD 59.23 Billion in 2021 and is expected to register a revenue CAGR of 13.4% during the forecast period, according to a latest analysis by Emergen Research. Rising demand for smart materials in consumer electronics is the key factor driving revenue growth of the market.
Smart materials are those that have been engineered to change some of their properties in response to external stimuli, such as mechanical stress or a specific temperature, moisture, and others. These are most widely used in the manufacture of electronic instruments such as actuators, electroactive polymers, and sensors. These materials have characteristics that alter in response to environmental changes. A wide variety of smart materials, including carbon nanotubes, inorganic nanoparticles, conducting polymers, and graphene, are now available due to the advancement of nanotechnology. Rising revenue growth of the consumer electronics industry across the globe creates a high demand for smart materials. Smart materials are used in the manufacture of sensors and actuators owing to its advantages such as fast response, high energy density, and compact size. It is significantly used in smartphones, microelectronic components, and image sensor cameras in recent days. According to research, there is approximately 2.5 billion smartphone user across the globe. It is expected to reach 5.9 billion by 2025. Growing adoption of smartphones and other consumer electronics is expected to boost revenue growth for the market.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1163
Smart materials have a wide range of uses in the aerospace and defense industries. These two industries will be critical in boosting the global market revenue for smart materials. For example, NASA, a U.S.-based space research organization collaborates with promising innovators to promote technologies such as smart materials. The Technology Transfer Program of NASA seeks collaborators to enhance smart coatings, shape memory alloys, multilayer electroactive polymer composite materials containing carbon nanotubes, and related production methods. In addition, smart materials are used for intelligence tactics, cyber warfare, and precision strike capabilities in defense industry, which is expected to support revenue growth of the market.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1163
Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 59.23 Billion |
| CAGR (2022-2030) | 13.4% |
| Revenue forecast to 2032 | USD 232.99 Billion |
| Base year for estimation | 2021 |
| Historical data | 2019-2020 |
| Forecast period | 2022-2030 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., South Africa, Turkey, and Rest of MEA |
| Key companies profiled | TDK Corporation, Kyocera Corporation, APC International, Ltd., CeramTech GmbH, Harris Corporation, Noliac A/S., Ametek Inc., CTS Corporation, LORD Corporation, and Metamaterial Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global smart materials market is fairly consolidated, with few large and medium-sized companies accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective smart materials solutions. Some of the major companies included in the global smart materials market report are:
- TDK Corporation
- Kyocera Corporation
- APC International, Ltd.
- CeramTech GmbH
- Harris Corporation
- Noliac A/S
- Ametek Inc.
- CTS Corporation
- LORD Corporation
- Metamaterial Inc.
Strategic Development
- On 25 May 2022, TDK Corporation, which is a Japanese multinational electronics company, announced that its subsidiary Ventures, Inc. invested in the U.S.-based wireless technology developer XCOM Labs. The purpose of the investment is to develop 5G and wireless communications systems focusing on bandwidth capacity, latency reduction, and compute load balancing.
- On 30 March 2022, Kyocera Corporation, which is a Japanese multinational electronics manufacturer, completed the acquisition of AVX Corp., which is a U.S.-based electronic component manufacturing company. Kyocera formerly owned approximately 72% of AVX's outstanding shares. Following the completion of the merger, AVX became a fully owned subsidiary of Kyocera.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1163
Some Key Highlights from the Report
- The piezoelectric materials scale segment accounted for largest revenue share in 2021 due to the growing adoption of these materials in Defense & aerospace. Piezoelectric materials are already used in advanced weapons systems. Smart materials are being examined by the aviation and aerospace industries to increase overall performance and fuel efficiency.
- The structural materials segment is expected to register a steady revenue growth rate over the forecast period due to the rising demand for these materials in structural health monitoring. Smart materials-based structural sensors, such as piezoelectric sensors, fiber optic sensors, magnetostrictive sensors, and self-diagnosing fiber-reinforced structural composites, have critical capacities for sensing numerous physical and chemical parameters relevant to structure health.
- The market in Asia Pacific is expected to register a significantly fast revenue growth rate during the forecast period due to the growing adoption of electronics devices and growing research and development activities regarding smart materials in countries across the region, especially in China, Japan, and India. In addition, rising adoption of smart materials in automotive applications is expected to support revenue growth in this region.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/smart-materials-market
Emergen Research has segmented global smart materials market on the basis of product, application, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
-
- Piezoelectric Materials
- Electrochromic Materials
- Phase Change Materials
- Electrostrictive Materials
- Magnetostrictive Materials
- Shape Memory Materials
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
-
- Transducer
- Structural Materials
- Sensors
- Actuators & Motors
- Coatings
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
-
- Industrial
- Consumer Electronics
- Automotive
- Defense & Aerospace
- Healthcare
- Other
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Cathode Materials Market, By Battery Type (Lead Acid and Lithium-ion), By Material (Lead Dioxide, Lithium Manganese Oxide, Lithium Cobalt Oxide, Lithium Iron Phosphate, and Others), By Application, and By Region Forecast to 2030
Nanopatterning Market By Type (Nanoimprint Lithography, E-beam lithography, Others), By Technology (Soft lithography, UV nanoimprint lithography, Others), Application (Consumer Electronics, Healthcare, Foundry, Others), By Region Forecasts to 2027
Anti-Reflective Coatings Market By Resin Type (Acrylic, Urethane, Epoxy), By Technology (Electron Beam, Sputtering), By Application (Eyewear, Electronic, Solar Panels, Automotive), Forecasts to 2027
Nanofilms Market By Processing Type (Dry, Wet), By Application (Microelectronics, Consumer Electronics, Biomedical Sector, Solar Energy & Storage System, Optical Industry), By Component (0.01 micron and Less, 0.1 micron and Less, 0.2 micron to 1 micron) and Regions Forecasts to 2027
Agricultural Films Market By Type (High-density Polyethylene, Linear Low-density Polyethylene, Ethylene-vinyl Acetate, Low-density Polyethylene, Reclaim), By Application (Geomembrane film, Silage film, Mulch film, Greenhouse covering), Forecasts to 2027
Polyolefin Market By Technology (Polyethylene, Polypropylene, Ethylene Vinyl Acetate, and Others), By Application (Film and sheet, Injection molding, Blow molding, and Others), and By Region Forecast To 2030
Bioplastics Market, By Type (Biodegradable, Non-Biodegradable), By Distribution Channel (Online, Offline), By Application (Packaging, Textile, Automotive & Transportation, Consumer Goods, Agriculture, Building & Construction, Others), and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Smart Materials Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-smart-materials-market
