Programmable Materials Market Highlights 2020-2029
The programmable materials market is estimated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. The rise in research and development activities in the field of 4D printing and recent advancement in nanotechnology supports the growth of the programmable market. Also, these materials can reduce the manufacturing and processing costs of products across numerous industries. Growing demand for sustainable merchandises due to environmental issues, combined with marginal maintenance required in the handling of programmable materials, is estimated to boost the growth of the programmable materials market. According to the U.S. Census Bureau the total spending on the construction industry in the year 2020 accounted for USD 1,432,341 million. These costs could be reduced to some extent with the usage of programmable materials.
On the basis of product type, the programmable carbon fiber material segment is expected to capture the major market shares in the forecast period owing to its advantageous characteristics, including high tensile strength, high stiffness, and low weight. Moreover, rise in the defense and aerospace industry is also anticipated to boost the programmable material segment.
The market is segmented by end-users into construction, healthcare, military & defense, automotive, textiles, others out of which, the military & defense industry segment is anticipated to capture the major market share in the forecast period, owing to the increasing demand for programmable self-healing materials in the military and defense industry. The other uses include the production of self-destructive tools to ensure confidential data security and the utilization of programmable materials to manufacture a soldier’s gear. CLICK TO DOWNLOAD SAMPLE REPORT
Programmable Materials Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The North America market is predicted to grow at the highest CAGR over the forecast period due to the initialization of 4D technology, mainly in the United States, and the increasing focus on the developments in the technology. The continent is progressively investing in research & development, and scientists are concentrating on developing 4D material that has the capability to adapt to different environmental conditions. According to the Organization for Economic Co-operation and Development, the healthcare spending of the United States is higher than that of other countries, as a percentage of GDP. 4D scanners can be used in healthcare to develop 4-D models for human body parts, which can then be used for designing prosthetics. Moreover, in the upcoming years, Asia-Pacific and Europe are also expected to have a noteworthy contribution to the programmable materials market.
The global programmable materials market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global programmable materials market includes the following segments:
By Product Type
- Programmable Textiles
- Programmable Wood
- Programmable Carbon Fiber
By End-User
- Construction
- Healthcare
- Military & Defense
- Automotive
- Textiles
- Others
Growth Drivers
- Advancements in 3D and 4D Printing Technology
- Rising Demand for Sustainable Products
Challenges
- High Initial Costs
- Intellectual Property Right Concerns
Top Featured Companies Dominating the Market
- Autodesk Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Hewlett-Packard Inc.
- Stratasys Ltd.
- CT Core Technologie Group
- EnvisionTec Inc.
- Other prominent players
