Smart Materials Market to Witness Widespread Expansion by 2026

1. Smart Material Market - Global Industry Analysis, Size, Share, Growth Trends 2018 - 2026 ©2019 Transparency Market Research, All Rights Reserved

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3. Global Smart Materials Market: Snapshot Smart materials have been gaining immense popularity across diverse industries in the last few years. It is considered as a reactive material that changes its properties as a response to the changes in the external environment. Thanks to this, the market is projected to witness lucrative opportunities in the next few years. According to the market research study by Transparency Market Research, in 2013, the global market for smart materials was worth US$27.7 bn and is estimated to reach a value of US$63.28 bn by the end of 2020. • View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved

4. Rising Number of Applications to Enhance Market Growth • The growing popularity of piezo-electric devices is considered as one of the major factors that is projected to encourage the growth of the global smart materials market in the next few years. • The rising number of applications from diverse industries is another key factor that is estimated to boost the demand for smart materials and generate potential growth opportunities for the market players in the coming few years. • The easy adoption, sensitivity to change, and the quick response are some of the major benefits of smart materials, which is estimated to accelerate the growth of the global smart materials market in the next few years.

5. North America to Maintain Dominance in Global Smart Materials Market In the last few years, North America accounted for a large share of the global smart materials market and is projected to maintain its dominance in the next few years. The strong growth of this region can be attributed to the rising demand for piezo-electric based actuators and motors. In addition to this, the rising demand for structural materials and mimetic materials is estimated to encourage the development of the smart materials market across North America in the next few years.  ©2019 Transparency Market Research, All Rights Reserved

6. key players operating in the smart materials market Globe are CTS Corporation, Kyocera Corporation Noliac A/S APC International Channel Technologies Group LLC ©2019 Transparency Market Research, All Rights Reserved

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