Market Demand and Value of Smart Materials

Graphene, carbon nanotubes, metamaterials and several other materials are the trending topics these days to read articles on and to do research but are they even in the market? If they are, what’s the demand and future of them?

According to the recent report from Research and Markets, the market of Smart materials is projected to grow at an annual rate of 9.94% from 2017 to 2023, reaching a total market size of $97.794 billion from $38.401 billion.

The one major drive for smart material market is the application of piezoelectric devices and solar devices across industries such as energy, consumer electronics and automobile. The investment in R&D of biomedical engineering institutes and hospitals for developing biomaterials, artificial organs and implants will significantly increase the demand for smart materials in the coming years.

According to the Market report; the major types of smart materials which may cause market hype are:

• ·         Piezoelectric Materials

• ·         Magneto strictive Materials

• ·         pH sensitive  Materials

• ·         Thermo responsive Materials

• ·         Biomimetic Materials

The applications which may find major usage of these materials are:

• ·         Dampers

• ·         Heat transfer

• ·         Actuators & motors

• ·         Sensors

The End-user industries which will focus on these materials are:

• ·         Automotive

• ·         Aerospace and Defence

• ·         Industrial

• ·         Electrical and Electronics

Some of the Companies which have already taken a step are:

• ·         KYOCERA Corporation

• ·         CTS Corporation

• ·         Channel Technologies Group, LLC

• ·         APC International, Ltd.

• ·         LORD Corporation

• ·         TDK Corporation

• ·         CeramTech GmbH

What are your thoughts on the market and scope of smart materials? Join us at 5th World Congress on Smart and Emerging Materials to project your thoughts on them to the intrigued students and researchers in the field of material science. Slots are open for everyone may it be a journalist, business reporter, market analyst or researcher.

The ideas to be projected and gained insights on are on the future prospects of smart and emerging materials. If you are interested to be a part of this glamorous meet at Dubai then write to us at smartmaterials@enggconferences.com or drop a line at Smart Materials Meet 2018 regarding your interest.