Smart Materials Market to Witness Widespread Expansion by 2026

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Smart Material
Market

• - Global Industry Analysis, Size, Share, Growth
  Trends 2018 - 2026

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About Us

• Transparency Market Research (TMR) is a market
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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 US27.7 bn
  and is estimated to reach a value of US63.28 bn
  by the end of 2020.

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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.

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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. 

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key players operating in the smart materials
market

• Globe are CTS Corporation,
• Kyocera Corporation
• Noliac A/S
• APC International
• Channel Technologies Group
• LLC

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