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Increasing use of smart transducers, actuators, sensors, and structural materials, is expected to drive the demand of the Smart Materials Market

HYDERABAD, TELANGANA, INDIA, November 7, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Smart Materials Market size is forecast to reach US$110.7 billion by 2027 after growing at a CAGR of 12.8% during 2022-2027. Smart materials have inherent and extrinsic qualities that are adaptable and clever in operation. Technological advancements in material science have enabled the growth of this market for the production of smart materials like photovoltaic-integrated electrochromic devices for smart applications, having specific required purposes that were earlier hard to manufacture using conventional materials like polymers, plastics, metals, glass, and ceramics. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Smart-Materials-Market-Research-507223

Key takeaways:

This IndustryARC report on the Smart Materials Market highlights the following areas -

1. North America was the leading region for the smart materials market, thanks to the rising demand for smart actuators and motors in end-use industries like automotive, electrical and electronics, and aerospace.
2. Europe accounted for the second-largest share of the market, followed by the Asia Pacific, and is anticipated to be the fastest-growing region of the market during the forecast period.
3. Growing consumption of piezoelectric devices in numerous end-use industries has accelerated the demand in the smart materials market, thereby being the most important shareholder within the product type segment.
4. The dominance of the piezoelectric product segment care is often primarily attributed to the rising demand in applications such as hydrophones, sonar, speakers, buzzers, gas igniters, and sporting equipment.
5. The use of smart materials within the aerospace and defense segment has increased and is predicted to grow at a rapid rate as compared to other industries during the forecast period.

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https://www.industryarc.com/pdfdownload.php?id=507223

Segmental Analysis:

1. The Piezoelectric Materials (PZT) segment held the largest share of 36% in the Smart Materials market in 2021. Piezoelectric smart materials have the ability to transduce the mechanical pressure acting on them into the electrical signals called the direct piezoelectric effect, and electrical signals to mechanical signals called the converse piezoelectric effect.
2. North America region held the largest share in the Smart Materials market in 2021 up to 40%, owing to the increasing demand from the aerospace and defense industry, which has increased at a rapid rate, due to the rise in the exports and consumer base of the region.
3. The sensors segment held the largest share of 34% in the Smart Materials market in 2021. A piezoelectric sensor is a smart device that helps to convert changes in strain, pressure, acceleration, temperature, or force into an electric charge using the piezoelectric effect.
4. The Aerospace and Defense segment held the largest share of 44% in the Smart Materials market in 2021. The increasing aircraft fleet and the rising defense expenditure have increased the production of aircraft across the world, creating immense demand for smart materials, as it helps in maintaining and guiding the airflow across the aircraft wings and while take-off and landing.

Competitive Landscape:

The top 5 players in the Smart Materials Industry are -

1. APC International Ltd.
2. Harris Corporation
3. CeramTech GmbH
4. Kyocera Corporation
5. TDK Corporation

Click on the following link to buy the Smart Materials Market Report:
https://www.industryarc.com/reports/request-quote?id=507223

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Related Reports:

A. Piezoelectric Smart Materials Market
https://www.industryarc.com/Research/Piezoelectric-Smart-Materials-Market-Research-503203

B. Piezoelectric Sensor Market
https://www.industryarc.com/Report/15795/piezoelectric-sensor-market.html

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