The Business Research Company’s report on the Smart Materials Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the smart materials market?
The increasing demand for consumer electronics is expected to propel the growth of the smart materials market going forward. Consumer electronics are electronic devices designed for everyday personal or home use, including smartphones, laptops, TVs, gaming consoles, and smart home gadgets. The demand for consumer electronics is increasing due to their growing integration into daily life, enhancing communication, productivity, entertainment, and convenience, while also adapting to evolving consumer needs and lifestyle changes. Smart materials enhance consumer electronics by enabling innovative functionalities such as self-healing screens, flexible displays, energy-efficient components, and adaptive responses to environmental changes, ultimately improving durability, performance, and user experience. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, LG achieved its highest-ever annual revenue in 2022, reflecting a 12.9% increase from 2021, while the LG Home Appliance & Air Solution Company generated $0.021 trillion (KRW 29.9 trillion) in revenue, marking a 10.3% growth compared to the previous year. Therefore, the increasing demand for consumer electronics drives the smart materials market.
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How has the smart materials market size evolved, and what are the latest forecasts for its expansion?
The smart materials market size has grown rapidly in recent years. It will grow from $63.10 billion in 2024 to $71.06 billion in 2025 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to increasing investments in research and development, rising consumer demand for energy-efficient materials, growing demand for responsive materials, increasing use of smart textiles, and rising demand for corrosion-resistant smart materials.
The smart materials market size is expected to see rapid growth in the next few years. It will grow to $112.80 billion in 2029 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to increasing adoption of shape-memory alloys, rise in utilization of electroactive polymers, rise in consumer preference for adaptive materials, grow in the use of self-healing concrete, and grow in demand for nanomaterials. Major trends in the forecast period include integration with iot technology, advancements in aerospace applications, focus on sustainability, enhanced sensor technologies, and adoption in industrial automation.
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Which major companies dominate the smart materials market?
Major companies operating in the smart materials market are Honeywell International Inc., 3M Company, Toray Industries Inc., Evonik Industries AG, TDK Corporation, DuPont de Nemours Inc., Arkema S.A., AMETEK Inc., Schott AG, Harris Corporation, CeramTec AG, CTS Corporation, SAES Getters S.p.A, Piezo Kinetics Inc., Laird Thermal Systems GmbH, PI Ceramic GmbH, Kyocera Corporation, APC International, LORD CorporationQinetiQ Group, Smart Material Corp.
What trends will shape the future of the smart home hub market?
Major companies operating in the smart materials market are focusing on developing innovative smart materials utilizing ultrasonic conversion and actuator technology combined with filling polymers to enhance adaptability and performance for diverse industrial and medical applications. Ultrasonic conversion is the process of transforming electrical energy into high-frequency mechanical vibrations, while actuator technology enables precise motion control using these vibrations, offering benefits such as high efficiency, precision, fast response, low maintenance, and applications in medical, industrial, and automation fields. For instance, in May 2024, PI Ceramic GmbH, a Germany-based advanced materials company, introduced piezoceramic composites by embedding piezoelectric ceramics in filling polymers utilizing ultrasonic conversion and actuator technology. The technique enhances adaptability for applications in medical technology, such as high-intensity focused ultrasound and diagnostic imaging, as well as industrial uses such as flow rate metering and non-destructive measurement, by improving acoustic impedance matching, precision, sensitivity, and resolution.
Which region dominates the smart materials market, and what factors contribute to its leadership?
North America was the largest region in the smart materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the smart materials market segmented, and which segment holds the largest share?
The smart materials market covered in this report is segmented –
1) By Product Type: Piezoelectric Materials, Electro-Rheostatic, Magneto-Rheostatic, Shape Memory Materials, Smart Fluids, Smart Hydrogels, Electrochromic Materials, Other Product Types
2) By Application Type: Transducers, Actuators And Motors, Sensors, Structural Materials, Coating, Other Applications
3) By End User: Industrial, Defense And Aerospace, Automotive, Consumer Electronics, Healthcare, Other End User
Subsegments:
1) By Piezoelectric Materials: Piezoelectric Ceramics, Piezoelectric Polymers, Piezoelectric Composites, Piezoelectric Crystals
2) By Electro-Rheostatic: ER Fluids with Liquid Crystals, ER Fluids with Polymers, ER Fluids with Suspended Particles
3) By Magneto-Rheostatic: MR Fluids with Iron Particles, MR Fluids with Cobalt Particles, MR Fluids with Nickel Particles
4) By Shape Memory Materials: Shape Memory Alloys, Shape Memory Polymers, Shape Memory Ceramics, Shape Memory Hydrogels
5) By Smart Fluids: Magnetorheological Fluids, Electrorheological Fluids, Ferrofluids
6) By Smart Hydrogels: pH-Responsive Hydrogels, Temperature-Responsive Hydrogels, Light-Responsive Hydrogels, Electric-Responsive Hydrogels
7) By Electrochromic Materials: Organic Electrochromic Materials, Inorganic Electrochromic Materials, Hybrid Electrochromic Materials
8) By Other Product Types: Self-Healing Materials, Conductive Polymers, Photomechanical Materials, Thermochromic Materials
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How is the smart materials market defined?
Smart materials are advanced substances that can sense and respond dynamically to changes in their environment, such as variations in temperature, pressure, moisture, electric or magnetic fields, and chemical stimuli, by altering their physical properties like shape, color, stiffness, or conductivity. These materials integrate adaptive functionalities, enabling them to self-heal, change phase, or exhibit controlled transformations in real-time, making them highly versatile for innovative applications.
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