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Published Date: 2015-02-27Number of Pages: 77

Smart Materials (Product - Biomimetic Materials, Piezo-electric Materials, Thermally Responsive Materials, Smart Fluids, and Smart Hydrogels; Application - Actuators & Motors, Sensors, Transducers, Structural Materials, Sports and Leisure, Energy Harvesting Devices, and Mechanical Structures) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Global Smart Materials Market: Snapshot 

Smart materials can be included in the category of reactive materials that change their properties as a response to changes in external environment. Possessing multiple physico-chemical properties that enable these materials to change as per the external stimuli, smart materials have the capacity to adapt to the changed environment via alteration of their properties. Smart materials undergo changes when in contact with elements such as temperature, magnetic or electric field, pH, mechanical stress, and light. As the change occurring in the properties of these materials is reversible, smart materials can be reused over and over. Sensitivity to change, easy adaption, and quick response are some of the major advantages of smart materials. 

The global market for smart materials was pegged at US$27.7 bn in 2013 and is expected to keep expanding at a CAGR of 12.5% between 2014 and 2020. By the end of 2020, the market will have achieved a revenue worth US$63.28bn, predicts Transparency Market Research (TMR). 

Growing Demand for Smart Materials Catapults North America at the Fore 

North America led the global smart materials market in 2013. The region is expected to retain its dominant position over the forecast period as well. By 2020, the smart materials market in North America is expected to account for a share of 38.2% in the global market. In response to the increasing demand for piezo-electric based actuators and motors, the market is advancing at a rapid pace. The growing demand for mimetic materials and structural materials has been a major growth driver of the smart materials market in this region. The adoption of new methods in the domains of vibration control, environmental control, and monitoring of structural health is also responsible for the expansion of the smart materials market in this region. 

Europe is likely to emerge at the second position. Asia Pacific also promises considerable opportunities. It is expected to emerge as the fastest growing regional segment in the market. The region is home to several flourishing industries such as automotive, information technology, electronics, retail, aerospace and defense.  

Piezo-electric Materials Lead Due to Rising Demand from IT, Robotics 

By product, the global market for smart materials has been segmented into thermally responsive materials, biomimetic materials, smart fluids, piezo-electric materials, and smart hydrogels. By revenue, the piezo-electric materials segment was the largest product segment in 2013. The growing demand from the robotics, information technology (IT), and automotive sectors is fuelling this segment. Piezoelectric devices exhibit high responsiveness, high precision, and high torque. As a result, they are increasingly adopted across several areas. The biomimetic materials are also expected to witness rising demand. 

By application, transducers, actuators and motors, sports and leisure, structural materials, mechanical structures, sensors, and energy harvesting devices are the key segments of the global market for smart materials. Of these, the actuators and motors segment emerged as the leading segment in the global smart materials market in 2013. The increasing deployment of actuators and motors by a number of end users is propelling the expansion of this application segment. The transducers segment also exhibits great potential for growth. The structural materials are witnessing rising demand from the developed economies of Europe and North America, therefore promising moderate growth. 

Channel Technologies Group, LLC, Kyocera Corporation, Advanced Cerametrics, TDK Corporation, CeramTec GmbH, CTS Corporation, APC International, Wright Medical Group, Inc., LORD Corporation, and Noliac A/S are some of the leading vendors operating in the global market for smart materials.

 
Smart materials are defined as a class of reactive materials that changes some of its properties in response to change in the external environment. Several smart materials possess different properties that can be changed. These materials sense the change in the external environment and respond to it by changing their properties in order to adapt to the surroundings. The response of smart materials varies, depending on the chemical structure. For instance, piezo-electric materials produce electricity when mechanical stress is applied, whereas shape memory returns to its original upon change in temperature. 
 
This report estimates and forecasts the smart materials market on a global and regional level. The study provides forecast from 2014 to 2020 based on revenue (US$ Mn). The executive summary of this report provides detailed insights regarding research and information about the market segments in a summarized form. Additionally, it contains market snapshot, which provides a glance into the current and future scenario of the global smart materials market. The study also provides a decisive view of the smart materials market by bifurcating it into product segments such as biomimetic materials, piezo-electric materials, thermally responsive materials, and others (including smart hydrogels and smart fluids). The report also provides segmentation of the global smart materials market, by application, which includes actuators & motors, sensors, transducers, structural materials, and others. Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated from 2014 to 2020 in terms of revenue (US$ Mn). The study also encompasses regional segmentation that includes the current and forecast market size of North America, Europe, Asia Pacific, and Rest of the World (RoW). The segmentation includes demand for individual product segments and applications in all the regions.  
 
We have included a detailed value chain analysis in order to provide a comprehensive view of the market. Value chain provides detailed information about any value addition at each stage of the value chain. The study includes drivers and restraints for the smart materials market, along with their impact on demand during the forecast period. Additionally, the report includes the study of opportunities in the smart materials market on the global and regional level. 
 
Porter’s five forces model has been used to evaluate the smart materials market in order to understand the factors affecting the different stages of the value chain. The study includes market attractiveness analysis, which includes benchmarking of applications based on their market size, market size, growth rate, and general attractiveness. Attractiveness has been calculated based on profit margin, raw material and technology, growth, size and other factors such as legal, economical and social factors.
 
We use a combination of primary and secondary research to determine the market estimate and forecast. Secondary research sources that were typically referred to include, but were not limited to company websites, independent studies, technical journals, annual reports, trade magazines, financial reports, and SEC filings. Other information sources such as internal and external proprietary databases, government documents, statistical databases and market reports, company’s news articles, industry specific magazines and webcasts specific to companies operating in the market have also been referred for the report. 
 
Primary research includes in-depth interviews and discussions with a wide range of key industry experts and opinion leaders. Primary research represents bulk of the research efforts, supplemented by an extensive secondary research. Key players’ investor presentations, annual reports, press releases and relevant documents were reviewed for competitive analysis and market understanding. Primary research helps in validating and strengthening the secondary research findings.
 
The report presents a detailed competitive outlook including company profiles of key participants operating in the global market. Key players profiled in the report include Advanced Cerametrics, Inc., APC International, Ltd., LORD Corporation, CeramTec GmbH, Channel Technologies Group, LLC, CTS Corporation, Kyocera Corporation, Noliac A/S, Wright Medical Group, Inc., and TDK Corporation. Company profiles include attributes such as company overview, brand overview, financial overview (financial year), business strategy, and recent/key developments. 
 
This report segments the global smart materials market as follows:
  • Smart Materials Market - Product Segment Analysis
    • Biomimetic materials
    • Piezo-electric materials
    • Thermally responsive materials
    • Others (including smart fluids, smart hydrogels etc.)
  • Smart Materials Market - Application Analysis
    • Actuators & motors
    • Sensors
    • Transducers
    • Structural materials
    • Others (including sports & leisure, energy harvesting devices, mechanical structures etc.)
  • Smart Materials Market - Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)


 
 
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