Smart Materials? Market Growth Factors, Applications, Regional Analysis, Key Pla

Posted by Preeti Verma on October 5th, 2018

Smart Materials Market is Growing with a considerable rate due to the high convenience offering property of the smart materials technology to the increasing aging population in the world. Smart packaging in consumer goods is one of the major trends that can be seen in the smart materials market. The main focus of the manufacturers is expected to be on better design and optimal use of materials for producing packages that could easily be opened.

A material is considered as a smart material when the input stimulus of a variable changes the output of other variables which were not given as input. If there is a change in external environment such as light, pressure, temperature and electricity, then the smart materials would change some of its properties with respect to the change in environment. 

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On the basis of type of products, the smart materials market can be categorized as Piezo-electric materials, biomimetic materials, magnetostrictive materials, halochromic materials, shape memory materials, smart fluids, thermally responsive materials and smart hydrogels.

 On the basis of end users, the smart materials market can be categorized as agriculture and food, leisure and sports, construction and infrastructure, transportation, and healthcare. Under construction industry, smart materials are mostly used in structural health monitoring, whose main focus is to monitor detection and loads of damage to the structures.

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Rising piezoelectric devices usage and burgeoning artificial organ and bionics industry are some of the factors driving the growth of the smart materials market. Increasing number of end user applications for the smart materials is an opportunity for the smart materials market to grow at a considerable rate in the coming years. 

Some of the competitors in the smart materials market are Advanced Cerametrics, Inc.Channel Technologies Group, LLC, Wright Medical Group, Inc., CeramTec GmbH, APC International, Ltd., Kyocera Corporation, TDK Corporation, LORD Corporation, CTS Corporation and NOLIAC A/S.

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Preeti Verma

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Preeti Verma
Joined: September 27th, 2018
Articles Posted: 35

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