India Smart Materials Industry Databook Series – Market Size & Forecast by Value Across 170+ Market Segments in Shape Memory Alloy, Piezoelectric Materials, Thermo-Responsive Materials, Magnetostrictive Materials, Chromic Materials, pH Sensitive Materials

India Smart Materials Industry Databook Series – Market Size & Forecast by Value Across 170+ Market Segments in Shape Memory Alloy, Piezoelectric Materials, Thermo-Responsive Materials, Magnetostrictive Materials, Chromic Materials, pH Sensitive Materials, Magnetorheological Materials, Phase Change Material, and Self-Healing Material, Q2 2023 Update

According to ConsTrack360, Smart materials in the country are expected to grow by 10.1% on an annual basis to reach US$944.0 million in 2023.

Medium to long term growth story of smart materials in India remains strong. Smart materials adoption is expected to grow steadily over the forecast period, recording a CAGR of 10.9% during 2023-2027. The smart materials in the country will increase from US$857.6 million in 2022 to reach US$1,428.6 million by 2027.

This market intelligence report from ConsTrack360 provides a detailed view of market opportunities in the smart materials industry at country level. With over 170+ KPIs, covering market size by end-use, application areas, and smart materials types in India, this Databook offering primarily provides data-centric analysis with charts and tables.
• End-Use Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and smart materials opportunities in various end-use sectors in India.
• Application Areas: Provides an in-depth analysis of smart material application areas across various end-use sector at country level.
• Smart Materials Types: Provides demand analysis of market by 9 key smart materials types. Shape Memory Alloy, Piezoelectric Materials, Thermo-Responsive Materials, Magnetostrictive Materials, Chromic Materials, pH Sensitive Materials, Magnetorheological Materials, Phase Change Material, and Self-Healing Material. This segment provides in-depth analysis of use of smart materials in end-use sectors.It also provides cross segmentation analysis of each material type into end-use and application.

ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities

The smart material market in India is driven by the rising demand for energy-efficient buildings, the need for sustainable construction, and the demand for aesthetic appeal in the construction space. With the advancement in technology and the development of new construction materials, the space is projected to grow and evolve significantly over the medium to long-term perspective.

This will drive new opportunities for innovation and growth in the Indian smart material market over the next five years. Furthermore, strategic collaborations between innovative startups and well-established players are also expected to play a crucial role in the growth of the industry in India. Overall, ConsTrack360 maintains a positive growth outlook for the market, as investment from the government in the infrastructure and sustainable construction space continues to increase over the next five years.

Innovation in the space will lead to the growth of the smart material market in India in 2023

Innovation is one of the critical drivers of the smart material market growth. Over the years, the adoption of new technologies has resulted in significant improvements in the Indian construction industry. Smart materials, such as shape memory alloys, smart glasses, and self-healing concrete, have already made significant inroads into the construction sector.
• In June 2022, a faculty member at the National Institute of Technology – Karnataka, T. Palanisamy, received the patent for producing cement mortar brick with the inclusion of bacteria in combination. The brick is not only claimed to be superior when compared to the conventional ones but is claimed to have self-healing properties.
• The composite material makes use of non-pathogenic bacteria that trigger a process of lime precipitation upon exposure to air and water when cracks form. The precipitated lime effectively seals the crack, thereby reinforcing the surface and enhancing its stability.

As research and innovation continue to grow in the sector, ConsTrack360 expects new construction materials with even more enhanced properties to emerge in the Indian market, thereby leading to the development of more sustainable and cost-efficient buildings and infrastructure.

Government incentives for green building projects to aid smart material market growth in India

Several states and central government institutions have increased their focus on green buildings, as they seek to promote conservation measures. To increase the number of green building projects across the country, these government institutions are offering incentives for green certifications.

Tax benefits, cheaper loans, and fast-track approvals are among the various incentives offered by the Indian government to encourage green buildings. Alongside the incentives, the central government has also implemented a policy that requires all government-owned buildings to meet the green standards and get certified green. Furthermore, many state governments have developed their own policy measures to promote the adoption of sustainable construction practices and materials. This includes subsidies and tax exemptions, among others.

These incentive programs, promoted by the Indian central and state governments, are expected to aid the adoption of smart materials in the construction of various projects, thereby subsequently aiding the growth of the industry from the short to medium-term perspective in India.

Scope

This report provides a detailed data-centric analysis of the smart materials industry, covering market opportunity, and industry dynamics by smart materials types, end-use sector and application areas

In addition, it also provides market size and forecast of the smart materials types demand analysis in India. With over 170+ KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

India Smart Materials Market Size by Type, 2018-2027
• Shape Memory Alloy
• Piezoelectric Materials
• Thermo-Responsive Materials
• Magnetostrictive Materials
• Chromic Materials
• pH Sensitive Materials
• Magnetorheological Materials
• Phase Change Material
• Self-Healing Material

India Smart Materials Market Size by End-Use, 2018-2027
• Aerospace & Defence Industry
• Biomedical & Pharmaceutical Industry
• Industrial Manufacturing Industry
• Technology Industry
• Construction Industry
• Food & Beverages Industry
• Automotive and Transportation Industry
• Energy & Utility Industry
• Other Industry

India Smart Materials Market Size by Application Areas, 2018-2027
• Food Packaging
• Food Processing
• Food Safety
• Materials & Manufacturing
• Mechanical & Functional Response
• Process Management
• Drug Delivery Systems
• Tissue Engineering
• Diagnostics
• Antibacterial Materials
• Devices
• Building Materials
• Coatings
• Energy Storage
• Energy Harvesting
• Robotics
• Other

India Smart Materials By Material X End-Use, 2018-2027

India Smart Materials By Material X End-use Sector X Application, 2018-2027

India Smart Materials By End-use Sector X Application, 2018-2027

Reasons to Buy
• In-depth Understanding of Smart Materials Market: Market opportunity and key data trends across 170+ market segments.
• Deeper Segmentation of Smart Materials: Market size and forecast by types, end-use, and application areas.
• Develop Market-Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market-specific key trends, drivers, and risks in the smart materials industry in India
• Comparable Data: Get detailed and comparable data for the smart materials market across 50 countries