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Global Smart Polymers Market is expected to reach $4,626.49 million by 2027 growing at a CAGR of 19.8% during 2019 to 2027.
Some of the key players in Smart Polymers Market include Evonik Industries AG, Merck KGaA, BASF SE, Covestro AG, The DOW Chemical Company, The Lubrizol Corporation, Akzo Nobel N.V., Croda International plc., Huntsman International LLC, Clariant AG, Nissan Chemical Industries Ltd, FMC Corporation, SABIC, Solvay SA, Spintech LLC, SMP Technologies Inc., and NEI Corporation.
Some of the key factors propelling the market growth include increasing adoption of smart polymers in the automotive and drug delivery sectors, increasing application of shape memory polymer in the textile industry, increasing consumption in biomedical applications, the development of smart biopolymers, and rising need for efficient drug delivery systems. However, high cost of technology development and polymer production is likely to restraint the market.
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Smart Polymers are composed of a wide range of macromolecules that reacts to a small change in the environment. They are also known as stimuli responsive polymers or intelligent materials. These polymers not only exhibit sensitive changes to environment but also return to their original state. The important trends and factors which are promoting the market confidently are strong, resilient, durable and reliable nature. Due to these features, they are used in various applications such as biotechnology and medicine, electrical & electronics, automotive, drug delivery systems, and others.
By end user, the biomedical & biotechnology segment is anticipated to grow at the significant rate during the forecast period, owing to the growing demand for smart polymers from several applications such as diagnostics, drug delivery, tissue engineering, cell culture, and phase separation processes in the biomedical & biotechnology industry. Moreover, smart polymers are biodegradable, biocompatible, easy to colour & mold, and can be easily modified. Hence, their adoption in the biomedical & biotechnology industry is gradually increasing.
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On the basis of geography, the North America region is expected to have considerable market growth during the forecast period, due to increasing demand from military and defense applications for camouflage & light sensitive fabrics processing coupled with rising healthcare sector will substantially drive the smart polymers market demand in North America over the next few years. Canada and Mexico are the major countries contributing to the growth of the smart polymers market in the region, owing to the increasing demand for smart polymers from end-use industries such as automotive, medical, textiles, and footwear is expected to drive the smart polymers market in these countries.
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Stimulus Types Covered: • Biological Stimuli Responsive Polymers • Physical Stimuli Responsive Polymers • Chemical Stimuli Responsive Polymers • Polymers of Natural Origin • Light-Sensitive Smart Polymers • Phase-Sensitive Smart Polymers
• Magnetic-Sensitive Smart Polymers
Structure Types Covered: • Physiological Structure
• Chemical Structure
End Users Covered: • Electrical & Electronics • Automotive • Biomedical & Biotechnology • Nuclear Energy • Optical Data Storage • Textiles • Energy & Power • Healthcare
• Other End Users
Regions Covered:
• North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific • South America o Argentina o Brazil o Chile o Rest of South America • Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa
o Rest of Middle East & Africa
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– Supply chain trends mapping the latest technological advancements
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