Home >> Technology >> Global Smart Materials Market Poised to reach from USD $34.20 billion in 2015 to USD $80.21 billion by 2022

Global Smart Materials Market Poised to reach from USD $34.20 billion in 2015 to USD $80.21 billion by 2022

Smart Materials MarketThe Global Smart Materials Market is accounted for $34.20 billion in 2015 and is expected to reach $80.21 billion by 2022 growing at a CAGR of 12.9% during the forecast period. High convenience aspect of the smart materials, increase in demand of the smart materials from the construction industry are the key factors driving the market growth. On other hand, growing concerns regarding the impact of smart materials on the environment is hindering the market. Smart packaging in consumer goods is one of the major trends that can be seen in the smart materials market. Growing number of end user applications provide ample opportunities for the smart materials market.

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The actuators and motors segment held a share of more than 50% in the global smart materials market. North America dominated the global market in 2015 accounting for more than 30% of the revenue. Asia Pacific will experience the highest growth in the coming few years due to the increasing demand for smart materials from its end-user industries. In contrast regions such as Middle East, Brazil, Argentina, South Africa and Egypt has the least share.

Some of the key players in the market include Nikon Corp., CTS Corporation, Channel Technologies Group,LLC.,  LORD Corporation, NOLIAC A/S, CeramTec GmbH,  APC International, Ltd., Wright Medical Group, Inc., Kyocera Corporation, Advanced Cerametrics, Inc., TDK Corporation, Artificial Muscle, Inc. (AMI), AMM Technologies, Metglas Inc and Aerofit Inc.

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Applications Covered:
• Mechanical structures
• Energy harvesting devices
• Transducers
• Structural materials
• Sensors
• Sports & leisure
• Actuators & motors
• Others

Product Type Covered:
• Magnetostrictive materials
• Smart fluids
• Piezo-electric materials
• Thermally responsive materials
• Smart hydrogels
• Biomimetic materials
• Shape memory materials
• Halochromic materials
• Others

End-User Covered:
• Healthcare
• Food and Agriculture
• Transportation
• Construction
• Infrastructure
• Leisure and sports

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt

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