Electroactive Polymers Market Analysis :
Electroactive polymers or EAPs are polymers that change in size or composition when activated by an electric field. These polymers have applications in actuators and sensors. They are used in sensors and activators, and designed to convert sensors and actuators in response to electrical consumption due to strong reactions in electric field. They have features such as low cost, easy in manufacturing, lightweight, and technologically advanced. A common feature of EAPs is that it exceeds large amount of deformation while creating forces of different electroactive composition or size under the influence of electric field. These polymers have very diverse ions as they can be easily formed in various shapes and sizes due to simple manufacturing materials.
COVID-19 scenario analysis:
- COVID-19 pandemic has created havoc-like situation across the globe, and has halted electroactive polymer manufacturing activity across the industry level.
- The demand for plastics and polymers has declined due to reduction in manufacturing activity. This has significantly affected the electroactive polymers.
- The end-use industries have been shut down due to lockdown across the country. This slowed down the economy, decreased prices, and led the industries undergo financial crisis.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
There is high demand for lightweight, strong, and durable polymer materials. In the automotive industry, car makers are trying to achieve this by using electroactive polymers that have electronic components such as multiple polymers, accelerometers, and accelerator pedal modules. This has created high demand for electroactive polymers in the automotive industry.
An increase in the use of electroactive polymers, such as polypin-blocking polymers, in ferrous & non-ferrous alloys, metamorphic biomaterial, actuators, and protective fabrics, is expected to increase the product demand over the forecast period. The market growth of electroactive polymers is based on the indirect use of electronic polymers for engineering and mechanical products. The growing use of electronic polymers designed to prevent corrosion for use in sterile and non-ferrous alloys, actuators, metamorphic biomatadium, and textile protection fabrics possess positive growth opportunities in the coming years.
The increase in the use of electroactive polymers in the health care sector and the acceptance of polymers in electronics in various manufacturing industries due to lower costs than other alloys and metals are the major factors expected to drive the market growth. R&D in robots due to the widespread use of actuators in robots is expected to create excellent opportunities for the key players operating in the global market.
The decomposition of electronic polymers is extremely difficult, which can lead to a few environmental problems that hinder the market growth. However, functional polymers with variable prices are one of the biggest factors affecting the market.
Key benefits of the report:
- This study presents the analytical depiction of the global electroactive polymers with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global electroactive polymers market share.
- The current market is quantitatively analyzed to highlight the global electroactive polymers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the electroactive polymers market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Electroactive polymers Market Report Highlights
By Industry Vertical
Key Market Players
Earnex Corporation, AGFA-Gavaert, PolyOne Corporation, 3M Company, Panasonic Corporation, Lubrizol Corporation, Konarka, Solvay SA, Merck & Company, Parker Hannifin Corporation