SMART MATERIALS MARKET ANALYSIS

Market Challenges And Opportunities

Restaints The key restraint for smart materials lies in manufacturing costs for large quantities in different applications at effective yields. High costs in manufacturing and high investment in research and development hamper growth of the smart materials market. The market has high potential and large numbers of manufacturers are focusing on offering innovative products to enhance their market share. The new prospects for smart material products would have its applications in the engineering sector for manufacturing control devices, self-detection, self-diagnostic and other devices.