The global smart materials market is largely segmented according to products, applications, and geography. The products segments are thermally responsive materials, biomimetic materials, piezo-electric materials, and others such as smart fluids and smart hydrogels. The various applications include structural materials, transducers, sensors, actuators and motors, along with others such as energy harvesting devices, mechanical structures, and sports and leisure.
The global smart materials market is likely to be driven by a great demand for piezo-electric devices. Smart materials are also in great demand in the rapidly advancing organ and bionics industry. Another factor driving the global smart materials market is a growing number of end-use applications that will expand the total opportunities of growth for the market in the near future.
Geographically speaking, the global smart materials market was dominated by North America in 2013, when the region accounted for over 30% of the market share. The fastest-growing region, however, is expected to be Asia Pacific. The key reason for this is the increasing demand for smart materials by end users. The smallest market share and the slowest growth rate in the global smart materials market is shown by the rest of the world region.
One of the more unique attributes of the global smart materials market is the diversity of the other markets that can operate in it. This includes all the companies that offer smart materials such as thermally responsive materials, biomimetic materials, and piezo-electric materials. The dynamic nature of the global smart materials market is such that most of the top players also operate in other markets. The list of key companies includes TDK Corporation, Wright Medical Group, Inc., Noliac A/S, Kyocera Corporation, CTS Corporation, Channel Technologies Group, LLC, CeramTec GmbH, LORD Corporation, APC International, Ltd., and Advanced Cerametrics, Inc.
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