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The Latin America, Middle East and Africa Smart Materials Market would witness market growth of 16.3% CAGR during the forecast period (2017-2023). Smart materials exhibit responsiveness in a controlled manner in environments that change. With a unique molecular structure, smart materials respond to a wide array of external stimuli such as electric fields, magnetic fields, pressure, temperature, moisture, and chemicals. Growing preferences for automated and high-end machines and gadgets by the modern customers have driven the demand for piezoelectric devices. The need to promote the use of non-conventional energy sources have further contributed to the demand for piezoelectric devices. Reliability and cost-effectiveness are the major factors that have led to the adoption of these devices in various industrial. The product is majorly used in the aerospace engineering sector hand it is used to improve performance and fuel efficiency in aircrafts. Smart systems are widely being adopted in aeronautical and astronautical engineering fields.
Based on Application, the market report segments the market into Actuators & Motors, Transducers, Sensors, Structural Materials, and Others. Based on Products, the Latin America, Middle East and Africa Smart Materials Market segments the market into Piezoelectric Materials, Shape Memory Materials, Phase Change Materials, Magnetostrictive Materials, Electrochromic Materials, Electrostrictive Materials, and Others. Based on Countries, the Latin America, Middle East and Africa Smart Materials Market segments the market into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA. The market research report covers the analysis of key stake holders of the Latin America, Middle East and Africa Smart Materials Market.
Key companies profiled in the report include CeramTec, Kyocera Corporation, LORD Corporation, Ametek Corporation (Fine Tubes Ltd.), TDK Corporation, Smart Material Corporation, CTS Corporation (Noliac AS), APC International, Ltd., Piezo Kinetics, Inc., and Harris Corporation.