Technavio has been monitoring the smart materials market and it is poised to grow by USD 48.48 billion during 2020-2024, progressing at a CAGR of almost 14% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200805005522/en/
Technavio has announced its latest market research report titled Global Smart Materials Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact
Frequently Asked Questions-
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of almost 14%, the market growth will accelerate in the forecast period of 2020-2024.
- What is the key factor driving the market?
- The rise in R&D efforts to develop innovative materials is one of the key factors driving the market growth.
- Who are the top players in the market?
- Allegheny Technologies Inc., APC International Ltd., Arkema SA, CeramTec TopCo GmbH, CTS Corp., Kyocera Corp., LORD Corp., Metglas Inc., Piezo Kinetics Inc., and Solvay SA are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
- What is the year-over-year growth rate of the global market?
- The year-over-year growth rate for 2020 is estimated at 13.17%.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Allegheny Technologies Inc., APC International Ltd., Arkema SA, CeramTec TopCo GmbH, CTS Corp., Kyocera Corp., LORD Corp., Metglas Inc., Piezo Kinetics Inc., and Solvay SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The rise in R&D efforts to develop innovative materials has been instrumental in driving the growth of the market.
Smart Materials Market 2020-2024: Segmentation
Smart Materials Market is segmented as below:
- Piezoelectric Materials
- Shape Memory Alloys
- Thermoelectric Materials
- Rheological Fluids
- Geographic Landscape
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40952
Smart Materials Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smart materials market report covers the following areas:
- Smart Materials Market size
- Smart Materials Market trends
- Smart Materials Market analysis
This study identifies the rising demand for piezoelectric material-based devices in the automotive sector as one of the prime reasons driving the smart materials market growth during the next few years.
Smart Materials Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the smart materials market, including some of the vendors such as Allegheny Technologies Inc., APC International Ltd., Arkema SA, CeramTec TopCo GmbH, CTS Corp., Kyocera Corp., LORD Corp., Metglas Inc., Piezo Kinetics Inc., and Solvay SA. Backed with competitive intelligence and benchmarking, our research reports on the smart materials market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Smart Materials Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart materials market growth during the next five years
- Estimation of the smart materials market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart materials market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart materials market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY MATERIAL
- Market segmentation by material
- Comparison by material
- Piezoelectric materials - Market size and forecast 2019-2024
- Shape memory alloys - Market size and forecast 2019-2024
- Thermoelectric materials - Market size and forecast 2019-2024
- Rheological fluids - Market size and forecast 2019-2024
- Magnetostrictive materials - Market size and forecast 2019-2024
- Other materials - Market size and forecast 2019-2024
- Market opportunity by material
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Advances in shape memory alloys with high fatigue life
- Growing use of piezoelectric devices
- Development of tires with shape memory alloys
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Allegheny Technologies Inc.
- APC International Ltd.
- Arkema SA
- CeramTec TopCo GmbH
- CTS Corp.
- Kyocera Corp.
- LORD Corp.
- Metglas Inc.
- Piezo Kinetics Inc.
- Solvay SA
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.