R&D to Boost Global Piezoelectric Smart Materials Market
The global piezoelectric smart materials market is expected to exceed $42 billion by 2020.
The global piezoelectric smart materials market is expected to exceed $42 billion by 2020, growing at a compound annual growth rate (CAGR) of almost 13%, according to a recent report from Technavio. Analysts have reportedly identified the following three factors that will drive the global piezoelectric smart materials market: an increase in demand from the defense and aerospace sectors; a growing demand from construction industry; and a rise in research and development efforts.
“The global piezoelectric smart materials market is expected to be vibrant during the forecast period due to increasing investment in R&D for product innovation and the rising demand from the automotive industry,” said Chandrakumar Badala Jaganathan, lead research analyst. “In addition, high demand from APAC is expected to further drive market growth.”
The aerospace industry has provided a tremendous boost to the piezoelectric smart materials market globally. Materials with enhanced functional properties such as shape memory, electrochromism, and piezoelectricity are gaining in demand. These materials help in controlling the airflow across the wings of an aircraft, maintaining it in takeoff, flying, and landing it more efficiently with less noise. Some applications for aircraft include wing morphing and flapping wing technologies. These materials are used to solve some common problems with the aircraft such as engine vibration, high cabin noise levels, ice formation on wings, flow separation due to turbulence, and control surfaces in cold climatic conditions. The majority of the demand from the aerospace industry is expected to come from the U.S., followed by Europe.
In defense, piezoelectric materials are used in applications such as smart sensors, smart nanorobotics, smart combat suits, and smart skins.
The application of piezoelectric smart materials in the construction industry falls into three categories: structural health monitoring, vibration control, and environmental control. Structural health monitoring is where piezoelectric smart materials find their most widespread applications. The primary focus of structural health monitoring lies in the monitoring of loads and detection of damage in the structures. In addition, the trend toward longer and more slender cables has given rise to the demand for piezoelectric smart materials for use in structural monitoring and vibration control. North America has the highest level of activity involving structural health monitoring. In the U.S., optical fiber grating systems are used to monitor traffic and composite repair monitoring. Additionally, embedded and surface-mounted MEMS sensors are used to monitor concrete and metal structures.
Transportation, healthcare, and smart packaging are among the sectors that have been receiving tremendous attention with respect to research and development. The transportation, defense, and aerospace sectors account for the major research and development interest, followed by the automotive and marine sectors. In the U.S., a considerable amount of funding has been offered by organizations such as the Naval Research Laboratory, Army Research Laboratories, Air Force Research Laboratories, and National Aeronautics and Space Administration. A majority of this funding has been offered to universities and has given rise to start-up organizations in the field of smart materials. In Europe, many similar initiatives have been initiated involving the Central European Chapter, the Western European Union, and a few of the large aerospace companies.
For more information, visit www.technavio.com.