Smart Materials Market

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 the 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 aerospace industry, an aircraft build from 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 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 product 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.

Market Snapshot

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 automotive, aerospace & defense and consumer good industry. In 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 rising demand for these products from 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, structural material segment anticipated to show fastest growth during the forecast period. Growing penetration of healthcare industry and increasing investment in medical R&D expected to drive the 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% global market share. Well-established aerospace and defense industry and entrants of 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 over US$ 686 Bn in 2019 alone have further created opportunities for the growth in demand for the 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 showed 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 company’s sensing product portfolio and building on 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 segments calculated for the forecast period from 2019 to 2027.

Market Segmentation:

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 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 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 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

List Of Figures

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)

List Of Tables

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)