TMR_Research_Reports_2017 Research Report By TMR | 2020 | Page 3

Smart Materials Market
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.
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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
mar