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A D V A N C E D M A T E R I A L S & P R O C E S S E S | A P R I L 2 0 1 5
6 MARKET SPOTLIGHT
FEEDBACK
SMART MATERIALS MARKET TO
REACH $42.2 BILLION IN 2019
A new report from BCC Research,
Wellesley, Mass., says that the global
market for smart materials was val-
ued at $23.6 billion in 2013 and nearly
$26 billion in 2014. The market is antic-
ipated to reach more than $42.2 billion
in 2019 at a compound annual growth
rate (CAGR) of 10.2% between 2014 and
2019, according to analysts. Motors and
actuators make up the largest appli-
cation segment, with sales of almost
$16.8 billion (70.8% of the market) in
2013, increasing to $30.2 billion (nearly
71.6% of the market) by 2019.
Smart materials are defined as
those that dynamically respond to elec-
trical, thermal, chemical, magnetic,
or other environmental stimuli. These
materials are incorporated in a growing
range of products, enabling devices to
alter their characteristics or otherwise
respond to external stimuli.
The Asia-Pacific region accounted
for the largest production of smart ma-
terials in 2013, followed by the U.S. and
Europe. However, European production
is projected to grow somewhat more
slowly than the global average, i.e., at
a CAGR of 9.9%, say analysts. The U.S.
share of global smart materials produc-
tion is projected to increase from 28.2%
in 2013 to 29% in 2019.
Phase-change materials (PCMs)
may have an important role to play in
energy storage, particularly for heat
produced by parabolic trough solar col-
lectors. Various smart materials such as
piezoelectrics and electrostrictive poly-
mers can be used to harvest energy from
the vibrations produced by ordinary ac-
tivities such as walking. Another example
are shape memory alloy actuators used
to open and close greenhouse windows.
“Monitoring the structural integri-
ty of bridges, dams, offshore oil-drilling
towers, and other structures is attract-
ing attention as well,” says analyst An-
drew McWilliams. “Embedding sensors
made fromsmart materials within struc-
tures to monitor stress and damage can
reduce maintenance costs and increase
lifespan. These are already used in more
than 40 bridges worldwide.”
Smart Materials and Their Appli-
cations: Technologies and Global Mar-
kets analyzes the principal end-user
segment for each type of material and
includes commercial, industrial, medi-
cal, research, and military sectors. The
report also includes estimates of the
current and projected worldwide mar-
ket for each material and application
through 2019. For more information,
visit .
READER BEGS TO DIFFER
I just received the latest issues of AM&P
with your historical articles (“Metallur-
gy Lane,” Jan. and Feb.). I beg to object
on the point made on duplex stainless
steel. The first vessel was produced
by Avesta in 1932, in 435S. For further
information, refer to AcomNo. 3-92 or
some of the lectures given by Charles
or Nilsson in the duplex conferences.
Although a specialty, duplex was used
in the paper industry during the early
1930s andmuchwork was done in
Sweden, France, and Finland. Due to
steelmaking problems, it was regard-
ed as a special and difficult grade until
the use of low carbon combinedwith
a nitrogen additionwas understood.
Some people still regard this as a
difficult grade. Mats Liljas presented a
good summary of duplex steel history
at the 6th European Stainless Steel
Conference in 2008.
Kåre Johansson, Norway
[I did not realize the extent of the
work on these steels in Europe and
I found little on thembeing used in
the U.S. When I learned that they
make up only 1%of total stainless
steel production, I thought I would
mention thembut not go into detail.
The precipitation hardened stainless
steels are far more popular in the U.S.
I will try to writemore on the duplex
steels at the next opportunity.
—Charles R. Simcoe]
We welcome all comments and
suggestions. Send letters to
.
Source: BCC Research (AVM023E), January 2015