Smart materials are adaptive or intelligent materials that possess intrinsic and extrinsic capabilities, which can be altered by external stimuli such as moisture, temperature, electromagnetic field, and pressure to obtain the desired functional effects. In addition, these materials are dynamic in nature and respond to their immediate interaction environments by adapting their characteristics. Advancement in the materials science sector resulted in the development of materials for specific applications, which was previously not possible with the use of conventional materials such as polymers/plastics, metals, glass, and ceramics. The smart material market is valued at $72.63 billion for the period 2015 – 2022. Besides this, the smart material market is expected to register a CAGR of 14.9% during the assessment period.
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Smart materials are capable of working at a very basic functional level and can be used in complex technical systems by incorporating additional functionalities and properties. Rapid demand for smart materials, piezoelectric and biomimetic materials have now caught the attention of major investor’s worldwide. The demand for piezo-electric materials is significant in North America. Manufacturers specializing in thermally responsive materials and other materials such as smart fluids and smart hydrogels will keep many stakeholders interested in the smart material market.
The demand for smart materials is on a rise worldwide on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs). This will open new opportunities for the smart materials market worldwide.
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Table of Contents:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 World Smart Material Market, By Application
Chapter 5 World Smart Material Market, By End-User Industry
Chapter 6 World Smart Material Market, By Region
Chapter 7 Company Profile
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