London, 17 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Smart Materials Market 2014-2018, which is expected to grow at a CAGR of 12.61 percent during the forecast period of 2013-2018.
With the rising investment in R&D for product innovation and the rising demand from the automotive industry, the demand for smart materials is expected to rise considerably in the coming years.
“Smart packaging is a growing trend and is picking up a lot of attention in many regions of the world on account of its sustainability and enhanced safety,” says Faisal Ghaus, Vice President of TechNavio.
“In the near future, focus is expected to be on better design and optimum use of materials to produce packages that could be easier to open.”
Key Market Drivers
- Increasing Demand from Military Aerospace Sector
- Rising Demand from Construction Industry
- Rising R&D Efforts
- Growth in Online Shopping
Key Market Trends
- Smart Packaging in Consumer Goods
- Nanotechnology in Smart Materials
- Piezoelectric Materials for Brakes and Steering in Automotive
Key Market Vendors
- Advanced Cerametrics
- Aerofit
- Bayer Material Science
- Metglas
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
