TMR_Research_Reports_2017 Research Report By TMR | 2020 | Page 2

Smart Materials Market
REPORT DESCRIPTION
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
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).
Obtain Report Details @ http://www.transparencymarketresearch.com/smart-
materials-market.html
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
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Transparency Market Research