Market Overview:
The global smart materials market size reached US$ 58.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 132.0 Billion by 2032, exhibiting a growth rate (CAGR) of 9.3% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 58.1 Billion |
Market Forecast in 2032
|
US$ 132.0 Billion |
Market Growth Rate 2024-2032 |
9.3% |
Smart materials are manufactured by modifying the mechanical and physical properties of standard materials under externally controllable and applied fields. These materials are presently available in multi-functional variants, ranging from carbon nanotubes and graphene to inorganic nanoparticles and conducting polymers. They are superior to conventional materials in terms of selectivity, directness, immediacy, transiency, and self-actuation. Additionally, as they can be activated by electrical stimuli to alter their magnetic and electric fields, stress, acoustic, temperature, nuclear radiation, and chemical behaviors, smart materials are gaining immense traction in various end use industries across the globe.
Smart Materials Market Trends:
The increasing use of chemical products in several industries, along with the rising awareness among employees about workplace safety and protection from hazardous conditions, represents one of the key factors catalyzing the adoption of smart materials in protective clothing. Apart from this, the escalating demand for effective, localized, and need-based systems in numerous biomedical applications, including cancer targeting, controlled drug delivery, tissue engineering, and biosensors, is stimulating the market growth. This can also be attributed to the rising incidences of chronic diseases and trauma injuries, coupled with the growing need for regenerative medicines and personalized treatments. Moreover, due to the emerging demand for energy-efficient building materials, smart materials are combined with conventional construction materials to build structures that adapt to atmospheric conditions, such as wind, heat, or rain. Besides this, rising investments in research and development (R&D) activities to develop smart materials using biopolymers, such as bacterial cellulose, chitosan, gelatin, starch, polylactic acid, and polyglycolic acid, are creating a positive market outlook. Furthermore, as these materials are biocompatible, biodegradable, and capable of broad chemical modifications, their applications are anticipated to expand in formulating artificial muscles, biomimetic robots, and reconfigurable lens systems worldwide.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart materials market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, application and end use industry.
Breakup by Product:
- Piezoelectric Materials
- Shape Memory Materials
- Electrostrictive Materials
- Magnetostrictive Materials
- Phase Change Materials
- Electrochromic Materials
- Others
Breakup by Application:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Transducer
- Actuators and Motors
- Sensors
- Structural Materials
- Others
Breakup by End Use Industry:
- Automotive
- Consumer Electronics
- Aerospace and Defense
- Healthcare
- Industrial
- Others
Breakup by Region:
To get more information on the regional analysis of this market, Request Sample
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being APC International Ltd, Arkema S.A, Confluent Medical Technologies, CTS Corporation, Gentex Corporation, Johnson Matthey, Kyocera Corporation, Meggitt PLC, Murata Manufacturing Co. Ltd, Piezo Kinetics Inc. (The Crest Group Incorporated), SAGE Electrochromics Inc. (Saint-Gobain S.A.) and Solvay S.A.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Product, Application, End Use Industry, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
APC International Ltd, Arkema S.A, Confluent Medical Technologies, CTS Corporation, Gentex Corporation, Johnson Matthey, Kyocera Corporation, Meggitt PLC, Murata Manufacturing Co. Ltd, Piezo Kinetics Inc. (The Crest Group Incorporated), SAGE Electrochromics Inc. (Saint-Gobain S.A.) and Solvay S.A. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |