Smart Materials Market By Application (Actuators & Motors, Transducers, Sensors, Structural materials, Others), By Industry Vertical (Industrial, Defense & Aerospace, Automotive, Consumer Electronics, Healthcare, Other) - Growth, Future Prospects, and Competitive Analysis, 2019 - 2027
Key Market Insights
"Growing applications of smart materials, driving the market growth"
Smart materials are new generation materials that possess smarter conventional and structural properties than conventional materials. Smart materials has the ability to change their physical properties in response to specific stimulus input. The adaptive capabilities to external stimuli, like loads or environment, with inherent intelligence. The smart materials stimuli with pressure, temperature, electric and magnetic fields, chemicals, hydrostatic pressure, or nuclear radiation. The associated changeable physical properties could be shape, stiffness, viscosity or damping. This way, the smart materials adjust in an environment to give better efficiency and save resources by responding to corrosion, temperature, mechanical forces, etc.
Smart materials are majorly used in industries such as consumer electronics, aerospace & defense, automotive industry, etc. among others. In the aerospace industry, and aircraft build from a sensual structure can self-monitor its performance better than currently running data machines. This provides enhanced health checkup of the aircraft and reduces MRO costing, thereby improving its average flying hours. Moreover, smart materials used in the automotive industry like copper-aluminum-nickel alloys, nickel-titanium change their structural properties with external stimuli like heat, magnetic field, electrical voltage, or stress.
The expanding scope of smart materials in various industries is driven by increasing investment in R&D and more focus of industries on improving their production efficiency and performance. Overall, the global smart materials market was US$ 132.6 Bn in 2018 and expected to reach US$ 174.5 Bn by 2027, growing at a CAGR of 3.1% from 2019 to 2027.
Application Type Segment Analysis
"Actuators & motors segment dominating the world market"
In 2018, actuators & motors captured the largest share of the global smart materials market. The segment accounted for around 60% share of the global revenues in 2018. Actuators and motors are majorly used in the automotive, aerospace & defense, and consumer goods industry. In the automotive industry, actuators are used to improve vehicle performance and fuel economy to ensure convenience and comfort. With the growth of these industries, there is a rising demand for these products from the past few years. During the forecast period, this segment expected to show good growth thereby significantly add-up market revenue to the global smart materials market.
In addition to the above, the structural material segment anticipated showing the fastest growth during the forecast period. Growing penetration of the healthcare industry and increasing investment in medical R&D expected to drive market growth.
Regional Analysis
"North America dominating the global market by region"
In 2018, North America dominated the global smart materials market, accounting for nearly 40% of the global market share. The well-established aerospace and defense industry and entrants of a large number of private players such as SpaceX, and Blue Origin, have increased the demand for smart materials from the region. Furthermore, the ever-increasing defense budget of the U.S., amounting to over US$ 686 Bn in 2019 alone have further created opportunities for the growth in demand for smart materials.
During the forecasted period, it is estimated that the Asia Pacific market to show significant growth, owing to the increasing demand from end-use industries in countries such as Japan and China. Furthermore, the regional economic development has shown a rise in aerospace, marine, automotive, electronics, and consumer goods industry. This has influenced the demand for smart materials from the region.
"Growing investment in R&D is keeping the market competitive"
The global smart materials market is competitive. Prominent players operating in the smart materials market are adopting strategies such as a partnership with other companies, investing in R&D, acquisition of smaller players to increase their client base and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
- CeramTec
- Kyocera Corporation
- CTS Corporation
- LORD Corporation
- Fine Tubes Ltd.
- TDK Corporation
- Smart Material Corporation
- Noliac A/S
- APC International, Ltd.
- Piezo Kinetics, Inc.
- Harris Corporation
- Others
Key Industry Development:
- In October 2019, Kyocera Corporation announced its smart, portable carbohydrate monitoring system. The first of its kind, Kyocera’s carbohydrate monitoring system is designed to enhance wellness by estimating carbohydrate metabolism based on measurements of pulse-wave patterns from the user’s heartbeat. Once the user touches the device to their wrist, the monitor measures pulse waves to estimate carbohydrate metabolism in the blood in around 8 seconds, and the result is then visualized via a smartphone. Since it uses a gyro sensor which is commonly used in everyday electronic devices such as smartphones, the company believes it will be able to offer the product at an affordable price once commercialized.
- In July 2019, CTS Corporation announced the acquisition of Quality Thermistor, Inc. (QTI). QTI is a leading designer and manufacturer of high-quality temperature sensors serving original equipment manufacturers (OEMs) with mission-critical applications in the industrial, aerospace, defense, and medical markets. QTI’s sensors are used to measure temperature in gas, liquid, or solid mass depending on the application to ensure equipment performance and reliability. The acquisition of QTI provides CTS a new core temperature sensing technology, expanding the company’s sensing product portfolio, and building on a strategy to focus on innovative products that sense, connect and move.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | US$ Billion |
| Segmentation |
Application Segment (2017-2027; US$ Bn) |
|
Industry Vertical Segment (2017-2027; US$ Bn) |
|
|
Geography Segment (2017–2027; US$ Bn) |
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the global smart materials market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Unique data points of this report
- Recent trends across different regions in terms of the development of smart materials market
- Attractive investment proposition for application segment as well as geography
Key questions answered in this report
- What was the market size of the smart materials market in 2018 and forecast up to 2027?
- What are the key factors driving the global smart materials market?
- What are the key market trends and high-growth opportunities observed in the smart materials market?
- Which is the largest regional market for the smart materials market?
- Which segment will grow at a faster pace? Why?
- Which region will drive the market growth? Why?
- Which players are leading the smart materials market?
- What are the key strategies adopted by the leading players operating in the market?
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Smart Materials (SM) Market
2.2. Global SM Market, by Application, 2018 (US$ Bn)
2.3. Global SM Market, by Industry Vertical, 2018 (US$ Bn)
2.4. Global SM Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global SM Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.2.3. Market Opportunities
3.2.4. Market Trends
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Smart Materials (SM) Market, by Application, 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Actuators & Motors
4.3. Transducers
4.4. Sensors
4.5. Structural materials
4.6. Others
5. Global Smart Materials (SM) Market, by Industry Vertical , 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Industrial
5.3. Defense & Aerospace
5.4. Automotive
5.5. Consumer Electronics
5.6. Healthcare
5.7. Other
6. North America Smart Materials (SM) Market Analysis, 2017 – 2027 (US$ Bn)
6.1. Overview
6.1.1. North America SM Market Value and Growth, 2017 – 2027, (US$ Bn)
6.2. North America SM Market Value, By Application, 2017 – 2027 (US$ Bn)
6.2.1. Market Analysis
6.3. North America SM Market Value, By Industry Vertical, 2017 – 2027 (US$ Bn)
6.3.1. Market Analysis
6.4. North America SM Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
6.4.1. Market Analysis
6.4.2. U.S.
6.4.3. Rest of North America
7. Europe Smart Materials (SM) Market Analysis, 2017 – 2027 (US$ Bn)
7.1. Overview
7.1.1. Europe SM Market Value and Growth, 2017 – 2027, (US$ Bn)
7.2. Europe SM Market Value, By Application, 2017 – 2027 (US$ Bn)
7.2.1. Market Analysis
7.3. Europe SM Market Value, By Industry Vertical, 2017 – 2027 (US$ Bn)
7.3.1. Market Analysis
7.4. Europe SM Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
7.4.1. Market Analysis
7.4.2. U.K.
7.4.3. Germany
7.4.4. France
7.4.5. Rest of Europe
8. Asia Pacific Smart Materials (SM) Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. Asia Pacific SM Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. Asia Pacific SM Market Value, By Application, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Asia Pacific SM Market Value, By Industry Vertical, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Asia Pacific SM Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.4.2. Japan
8.4.3. China
8.4.4. India
8.4.5. Rest of Asia Pacific
9. Rest of the World Smart Materials (SM) Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Rest of the World SM Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Rest of the World SM Market Value, By Application, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Rest of the World SM Market Value, By Industry Vertical, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Rest of the World SM Market Value, By Region, 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.4.2. Middle East & Africa
9.4.3. Latin America
10. Company Profiles
10.1. CeramTec
10.2. Kyocera Corporation
10.3. CTS Corporation
10.4. LORD Corporation (Parker Hannifin Corp)
10.5. Fine Tubes Ltd. (AMETEK Inc.)
10.6. TDK Corporation
10.7. Smart Material Corporation
10.8. APC International, Ltd.
10.9. Piezo Kinetics, Inc.
10.10. L3Harris Corporation
*SM - Smart Materials
TABLE 1 Market Snapshot: Global Smart Materials (SM) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global SM Market, by Application, 2017-2027, (US$ Bn)
TABLE 5 Global SM Market, by Industry Vertical, 2017-2027, (US$ Bn)
TABLE 6 Global SM Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 7 North America SM Market, by Application, 2017-2027, (US$ Bn)
TABLE 8 North America SM Market, by Industry Vertical, 2017-2027, (US$ Bn)
TABLE 9 North America SM Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 10 Europe SM Market, by Application, 2017-2027, (US$ Bn)
TABLE 11 Europe SM Market, by Industry Vertical, 2017-2027, (US$ Bn)
TABLE 12 Europe SM Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 13 Asia Pacific SM Market, by Application, 2017-2027, (US$ Bn)
TABLE 14 Asia Pacific SM Market, by Industry Vertical, 2017-2027, (US$ Bn)
TABLE 15 Asia Pacific SM Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 16 Rest of the World SM Market, by Application, 2017-2027, (US$ Bn)
TABLE 17 Rest of the World SM Market, by Industry Vertical, 2017-2027, (US$ Bn)
TABLE 18 Rest of the World SM Market Value, by Region/Country, 2017 - 2027, (US$ Bn)
TABLE 19 CeramTec: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 20 Kyocera Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 21 CTS Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 22 Fine Tubes Ltd.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 23 TDK Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 24 Smart Material Corporation: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 APC International, Ltd.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 Piezo Kinetics, Inc.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 L3Harris Technologies, Inc.: Company Snapshot (Business Description; Profile Type Portfolio; Financial Information; Business Overview and Recent Development)
FIG. 1 Global Smart Materials (SM) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global SM Market Segmentation
FIG. 4 Global SM Market, by Application, 2018, (US$ Bn)
FIG. 5 Global SM Market, by Industry Vertical, 2018, (US$ Bn)
FIG. 6 Global SM Market, by Geography, 2018 (US$ Bn)
FIG. 7 Global SM Market Value, 2017 - 2027, (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key SM Manufacturers & Providers, 2018
FIG. 10 Global SM Market Value Share, by Application, 2018 & 2027 (Value %)
FIG. 11 Global SM Market Value for Actuators & Motors, 2017 – 2027, (US$ Bn)
FIG. 12 Global SM Market Value for Transducers, 2017 – 2027, (US$ Bn)
FIG. 13 Global SM Market Value for Sensors, 2017 – 2027, (US$ Bn)
FIG. 14 Global SM Market Value for Structural materials, 2017 – 2027, (US$ Bn)
FIG. 15 Global SM Market Value for Others, 2017 – 2027, (US$ Bn)
FIG. 16 Global SM Market Value Share, by Industry Vertical, 2018 & 2027 (Value %)
FIG. 17 Global SM Market Value for Industrial Automation, 2017 – 2027, (US$ Bn)
FIG. 18 Global SM Market Value for Aerospace & Defense, 2017 – 2027, (US$ Bn)
FIG. 19 Global SM Market Value for Automotive, 2017 – 2027, (US$ Bn)
FIG. 20 Global SM Market Value for Consumer Electronics, 2017 – 2027, (US$ Bn)
FIG. 21 Global SM Market Value for Healthcare, 2017 – 2027, (US$ Bn)
FIG. 22 Global SM Market Value for Other, 2017 – 2027, (US$ Bn)
FIG. 23 North America SM Market Value, 2017 – 2027, (US$ Bn)
FIG. 24 Europe SM Market Value, 2017 – 2027, (US$ Bn)
FIG. 25 Asia Pacific SM Market Value, 2017 – 2027, (US$ Bn)
FIG. 26 Rest of the World SM Market Value, 2017 – 2027, (US$ Bn)
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