Smart Materials Market to Grow 13% Annually Through 2016

MarketResearch.com has announced the addition of the new report “Smart Materials: Technologies and Global Markets,” to their collection of Manufacturing market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6404208

“Smart” materials are 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.

BCC estimates the global market for smart materials at about $19.6 billion in 2010. The report predicts the market to approach $22 billion in 2011 and pass $40 billion by 2016, a compound annual growth rate (CAGR) of 12.8% between 2011 and 2016.

Actuators and motors make up the largest application segment of the smart materials market, with sales of nearly $10.8 billion (55% of the total market) in 2010, increasing to $25.4 billion (nearly 64% of the market) by 2016, a compound annual growth rate (CAGR) of 15.4% between 2011 and 2016.

Transducers make up the second-largest application segment, with sales of $7 billion in 2011. However, transducers have the lowest projected growth rate of any major application segment and, while absolute dollar sales are projected to approach an impressive $9.4 billion in 2016, transducers’ percentage of market share should slip to 23.4%, reflecting a compound annual growth rate (CAGR) of 6%.

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.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6404208

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