Smart Materials: Technologies and Global Markets

June 16, 2011

Wellesley, Mass. – According to a new technical market research report, SMART MATERIALS: TECHNOLOGIES AND GLOBAL MARKETS (AVM023D) from BCC Research (www.bccresearch.com), the global market value for smart materials was an estimated $22 billion in 2011, but is expected to increase to nearly $40.1billion in 2016, for a five-year compound annual growth rate (CAGR) of 12.8%.

The largest segment in the market, made up of motors and actuators, is expected to increase at a five-year CAGR of 15.4%, from $12.4 billion in 2011 to $25.4 billion in 2016.

The second-largest segment, made up of transducers, is expected to reach nearly $9.4 billion in 2016. The market in 2011 is estimated to be more than $7 billion. Thus, the five-year CAGR is projected to be 6%.

The structural materials segment is expected to increase in value from an estimated $1.4 billion in 2011 to $3.4 billion in 2016 at a CAGR of 19.8%.

The segment made up of sensors is projected to be $1.6 billion in 2016, after rising at a CAGR of 7.3% from its 2011 value of nearly $1.2 billion.

The “other/not elsewhere classified” segment is estimated at $2 million in 2011 and is projected to be valued at $195 million in 2016 after rising at a CAGR of nearly 150%.

“Smart” materials make up a class of materials that respond dynamically to electrical, thermal, chemical, magnetic, or other stimuli from the environment. These materials are incorporated in a growing range of products, enabling these products to alter their characteristics or otherwise respond to external stimuli. 

This report is an update of an earlier BCC research report published in 2005. Since then, the range of smart materials technologies and applications has continued to grow.

This report is intended especially for developers and vendors of smart materials and applications seeking to understand the market for their products. Other readers who will find the report’s findings and conclusions informative include members of technical and professional organizations such as ASM (the former American Society for Metals) and the general technology interest community, including journalists and officials of government technology initiatives such as the U.S. National Nanotechnology Initiative.

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Smart Materials and Their Applications: Technologies and Global Markets( AVM023D )
Publish Date: May 2011    

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