Smart Materials
                     Smart Materials Market Estimated To Experience A Hike In Growth By 2026
Market Overview
Smart materials have the ability to alter one or more properties when a controlled external stimuli 
such as stress, temperature, moisture, pH, electric and magnetic fields are applied on the material. 
Piezoelectric, magneto-rheostatic, electro-rheostatic, and other shape memory alloys are the most 
widely used smart materials. Properties such as viscosity, volume, and conductivity can be altered 
as per requirement in end applications. The smart material market is segmented on the basis of type,
which includes biomimetric materials, piezo-electric materials, thermally responsive materials and 
others. The piezoelectric materials segment dominated the smart materials market. Smart materials 
are adaptive to different environmental and operational conditions.
Increasing technological advancements have resulted in increased use of developed materials rather 
than conventional materials such as polymers, metal, and glass in various industries such as 
automotive, consumer electronics, and healthcare, among others.
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Market Dynamics
Increased investments in R&D to innovate new smart materials has resulted in broadened 
applications in automotive, construction, healthcare, aerospace, and chemical industries. Shape 
memory alloys have wide range of applications in manufacturing actuators and motors. 
Piezoelectric and electro-rheostatic materials are widely used in permeated households and 
automotive applications. Universities and key players are conducting research on smart materials to 
increase the elasticity of the materials to increase the application of smart materials to be used in 
health care industry for artificial muscles in prosthetics. Automobile industry is leaning towards 
replacing conventional materials with smart materials to manufacture high quality vehicles termed 
as 'smart vehicle'.
Global Smart Materials Market Taxonomy
The global smart materials market is classified on the basis of the following segments:
•product type
•Piezoelectric materials
•Electro-rheostatic
•Magneto-rheostatic
•Shape memory materials
•Smart fluids
•Smart hydrogels
•Electrochromic materials
•Others
•Application
•Actuators & motors
•Sensors
•Transducers
•Structural materials
•Others
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Major players involved in the market include TDK Corporation (Japan), CTS Corporation (U.S.), 
Optotune AG (Switzerland), AMM Technologies (Italy), Lord Corporation (U.S.), Fort Wayne 
Metals (U.S.), AI Technology Inc. (U.S.), AVX Corporation (U.S.), Advanced Cerametrics,Inc., 
(U.S.), Wright Medical Group (U.S.).
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