United Kingdom 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

United Kingdom 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 7.9% on an annual basis to reach US$1,269.6 million in 2023.

Medium to long term growth story of smart materials in United Kingdom remains strong. Smart materials adoption is expected to grow steadily over the forecast period, recording a CAGR of 8.3% during 2023-2027. The smart materials in the country will increase from US$1,176.3 million in 2022 to reach US$1,748.2 million by 2027.

The smart materials industry is projected to record strong growth over the next five years in the United Kingdom. The market growth will be driven by the need for sustainable and energy-efficient construction. The innovative startup ecosystem in the construction smart materials space will also aid market growth.

From smart concrete to smart construction pipes, the startups are seeking to deliver solutions that meet the demand for sustainable and energy-efficient construction. By incorporating smart materials into buildings, the construction industry has the potential to significantly reduce its carbon footprint. Consequently, ConsTrack360 expects the government to play an important role in the development and growth of the construction smart materials space from the short to medium-term perspective.

Government funding is expected to drive innovation aiding industry growth in the United Kingdom

To achieve the decarbonization targets set by the government, a growing amount of funding is expected to enter into the smart materials space over the next few years. Furthermore, strategic alliances are also expected to increase in the market, with the goal to develop innovative solutions for reducing the carbon footprint in the construction space.
• The University of Birmingham, in November 2020, entered into a strategic collaboration with manufacturing firm Aquaspira. The collaboration aimed at the research and development of smart pipes used in large-scale infrastructure projects. Notably, the research program was funded by the United Kingdom government. A grant of £269,000 was provided from Innovate UK.
• Under the program, the manufacturing firm aimed at developing smart pipes using the sensor technology built into the pipes for detecting and reporting changes in environmental conditions. Such government-funded programs are expected to open up new avenues for future products, which will also subsequently support the growth of the smart materials industry in the United Kingdom.

From the short to medium-term perspective, ConsTrack360 expects the private sector to also increase its investment in the construction smart materials space, leading to further innovation in the sector.

The innovative startup landscape is expected to aid the smart materials market in the United Kingdom

Amid the growing shift towards sustainable construction practices, many startups have entered the United Kingdom construction smart materials space over the last few years. From Material Evolution to Mimicrete, startups are innovating in the space and launching products such as self-healing concrete. Many more innovative startups are expected to enter the market over the next five years, and will also attract funding from the government and private sector.
• In June 2022, Mimicrete, the materials technology startup, announced that the firm had received £450,000 in funding from the Innovate UK Smart Grant. Along with government funding, the startup is also backed by venture capital firms such as Vest Coast Capital and Leonas Capital.
• With this funding, Mimicrete is well-positioned to drive its research and development plans. Furthermore, the funding will also assist the firm to speed up its commercialization plans. In June 2022, the company announced the launch of its first commercial pilot program in partnership with JP Concrete. The project with JP Concrete is focused on advancing the development of Mimicrete's self-healing concrete product.

As more innovation takes place in the United Kingdom's smart materials space, ConsTrack360 expects more venture capital and private equity funding to enter the market over the next three to four years. This will keep aiding the industry growth in the smart material space from the short to medium-term perspective.

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 United Kingdom, 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 United Kingdom.
• 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

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 United Kingdom. With over 170+ KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

United Kingdom 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

United Kingdom 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

United Kingdom 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

United Kingdom Smart Materials By Material X End-Use, 2018-2027

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

United Kingdom 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 United Kingdom
• Comparable Data: Get detailed and comparable data for the smart materials market across 50 countries