A piezoelectric sensor is a smart device that helps to convert changes in strain, pressure, acceleration, temperature, or force into an electric charge using the piezoelectric effect. The sensors segment held the largest share of 34% in the Smart Materials market in 2021. Smart Materials Market Segment Analysis – By Application As a result, the demand for piezoelectric smart materials can be seen and will increase significantly, which contributes to increased business growth. Additionally, the rise in demand for piezoelectric smart sensors for fluid measurements like compositions, density, viscosity, and impact force is expected to bring new opportunities and demand during the forecast period for the smart materials market.
Globally increasing research and development investments by research universities & companies for the development of advanced technology for piezoelectric smart materials in aerospace and defense applications, electrical, and other major industries, are driving the market growth. They have the capacity to deliver variable electrical stimuli without an external power source involved. Piezoelectric smart materials are also utilized as electroactive scaffolds for tissue repair and regeneration in tissue engineering. Piezoelectric smart materials are applied in a wide range of applications in the electrical and electronics industry which includes transducers, actuators, motors, and sensors. For the material to possess piezoelectricity, it should have a lack of center of symmetry and also depends on its crystal lattice structure.
Piezoelectric smart materials have the ability to transduce the mechanical pressure acting on them into the electrical signals called the direct piezoelectric effect, and electrical signals to mechanical signals called the converse piezoelectric effect. The Piezoelectric Materials (PZT) segment held the largest share of 36% in the Smart Materials market in 2021. Smart Materials Market Segment Analysis – By Product Type Also, due to supply chain disruptions like delay in reaching of raw materials or non-arrival, disrupted financial flows, and rising absenteeism among production line staff and employees, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption for Smart Materials in 2020. With aerospace and defense being the major end-use industry, according to the Welsh Government services and information, the global demand for production of short-haul sized aircraft is most probably going to drop by 15% and by 30 – 65% for long haul sized craft, by the end of 2025, as an extended-term impact of the covid-19. Due to social distancing policy, most of the manufacturing plants of aircraft and automobiles were shut down, which declined the regular production of commercial aircraft and vehicles. Increasing use of smart transducers, actuators, sensors, and structural materials, is expected to drive the demand of the smart materials market during the forecast period.Ĭurrently, due to the COVID-19 pandemic, the core end-use industries such as aerospace, automotive, industrial, electrical, and electronics industries were highly impacted. Moreover, ferromagnetic shape memory alloys, conductive polymers, nanotube actuators, and electroactive polymers are a couple of emerging smart materials used within the market, with strong application potential. Piezoelectric materials (PZT), shape memory alloy materials (SMA), electrostrictive materials (PMN), magnetostrictive materials, and phase change materials have gained wide industrial acceptance in recent times. Smart materials hold some special properties that allow them to get back to their original state after removal of the external stimuli, like electric and magnetic fields, temperature, pressure, mechanical stress, hydrostatic pressure, and others. Smart materials are more often being utilized as dielectric elastomers in microelectronic component energy supply systems.
Technological advancements in material science have enabled the growth of this market for the production of smart materials like photovoltaic-integrated electrochromic devices for smart applications, having specific required purposes that were earlier hard to manufacture using conventional materials like polymers, plastics, metals, glass, and ceramics. Smart materials have inherent and extrinsic qualities that are adaptable and clever in operation.
The Smart Materials market size is forecast to reach US$110.7 billion by 2027 after growing at a CAGR of 12.8% during 2022-2027. Increasing Use of Smart Transducers, Actuators, Sensors, and Structural Materials, Is Expected to Drive the Demand of the Smart Materials Market
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