Dec 4, 2017   SOURCE: PR NewsWire

Smart Materials Market Worth $98.2 Billion by 2025 | CAGR: 13.5%: Grand View Research, Inc.

SAN FRANCISCO, December 4, 2017 /PRNewswire/ --

The global smart materials market [https://www.grandviewresearch.com/industry-analysis/smart-materials-market ] is anticipated to reach USD 98.2 billion by 2025, according to a report by Grand View Research, Inc. Extensive research & innovation activities have widened the industrial applications of smart materials. Augmented use of smart actuators & motors, sensors, and structural materials is anticipated to bolster the demand over the next few years.

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Smart materials are advanced products, which can sense and respond to a broad range of stimuli, including electric and magnetic fields, temperature, pressure, mechanical stress, hydrostatic pressure, nuclear radiation, and pH change. Unique properties of these products allow them to revert to their original state after removal of the stimuli.

Piezoelectric, shape memory, electrostrictive, magnetostrictive, phase change, and electrochromic materials have gained wide industrial acceptance in the recent past. Furthermore, ferromagnetic shape memory alloys, electroactive polymers, conductive polymers, and carbon nanotube actuators are few of the emerging materials in the market, with strong application potential.

North America was the leading region in the global market in 2016, primarily 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 in 2016, followed by Asia Pacific. Asia Pacific is anticipated to exhibit a remarkable growth over the forecast period, owing to significant research activities supported by the government.

Browse full research report with TOC on "Smart Materials Market Analysis By Product (Piezoelectric, Shape Memory Alloys, Electrostrictive, Magnetostrictive, Electrochromic), By Application, By Region, And Segment Forecasts, 2014 - 2025"at: http://www.grandviewresearch.com/industry-analysis/smart-materials-market [http://www.grandviewresearch.com/industry-analysis/smart-materials-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=Prnewswire_Dec04&utm_content=Content ]

Further key findings from the report suggest:  

        
        - The global smart materials market was valued at USD 32.77 billion in 2016 and is
          estimated to grow at a CAGR of 13.5% from 2017 to 2025, owing to increasing demand
          from key verticals such as aerospace, consumer electronics, and aerospace.
        - Considerable growth of piezoelectric devices in numerous end-user industries has
          boosted the product demand over the past few years, thereby enabling this product
          category to remain the dominant segment, with a share of over 50%.
        - The dominance of the piezoelectric product segment can be primarily attributed to the
          rising demand in applications such as hydrophones, sonar, speakers, buzzers, gas
          igniters, and sporting equipment.
        - Shape memory materials are predicted to experience the fastest growth over the
          forecast period, owing to rapid emergence of the product in medical sub-segments such
          as stents, dental braces, medical textiles, prosthetics, and surgical fixation
          devices.
        - Requirements pertaining to efficient vibration & noise control systems, ultrasonic
          motors, fuel injection systems, and standard industrial actuators have motivated the
          product demand in actuators & motors application segment.
        - The demand for the products in the structural material application segment is
          estimated to grow at the fastest rate during the forecast period, owing to emerging
          requirement of adaptive materials in structural health monitoring and green building
          materials.
        - Asia Pacific is estimated to grow at the fastest CAGR of 15.0% from 2017 to 2025.
          Collaboration between manufacturers and research organizations is likely to present
          new openings in the Chinese market, thereby also driving the overall Asia Pacific
          market.
        - Key players in the industry focus on research collaborations and product innovation to
          strengthen their positions in the industry.

Browse related reports by Grand View Research:  

        
        - Environmental Sensor Market -
          http://www.grandviewresearch.com/industry-analysis/environmental-sensor-market
        - Body-worn Temperature Sensor Market -
          http://www.grandviewresearch.com/industry-analysis/the-global-body-worn-temperature-sensor-market
        - Nanosensors Market-
          http://www.grandviewresearch.com/industry-analysis/global-nanosensors-market
        - MEMS Gyroscopes Market -
          http://www.grandviewresearch.com/industry-analysis/mems-gyroscopes-market

Grand View Research has segmented the global smart materials market on the basis of product, application, and region: 

        
        - Product Outlook (Revenue, USD Million; 2014 - 2025) 
             - Piezoelectric materials
             - Shape memory materials
             - Electrostrictive materials
             - Magnetostrictive materials
             - Phase change materials
             - Electrochromic materials
             - Others
        - Application Outlook (Revenue, USD Million; 2014 - 2025) 
             - Actuators & Motors
             - Transducers
             - Sensors
             - Structural materials
             - Others
        - Regional Outlook (Revenue, USD Million; 2014 - 2025) 
             - North America
                - U.S.
             - Europe
                - Germany
                - UK
             - Asia Pacific
                - China
                - Japan
             - Central & South America
                - Brazil
             - MEA
                - South Africa 

Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/semiconductors-and-electronics

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. 

            Contact: 
        Sherry James 
        Corporate Sales Specialist, USA 
        Grand View Research, Inc 
        Phone: +1-415-349-0058 
        Toll Free: 1-888-202-9519 
        Email: sales@grandviewresearch.com

 

Web: http://www.grandviewresearch.com 


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SOURCE Grand View Research, Inc.