Smart Polymers Market Overview:
Global Smart Polymers Market size was valued at $1,250 million in 2015, and is anticipated to grow at a CAGR of 12.6% to reach $3,070 million by 2022. Smart polymers are also referred to as intelligent polymers or environmentally sensitive polymers. The ability to respond to a slight environmental fluctuation is the major feature that makes these polymers smart. These are sensitive to various environmental stimulus such as pH, temperature, magnetic field, electric field, chemical agents, enzymes, and biomolecules and possess the ability to recover at their initial state at the culmination of the stimulus. The market is in its growth stage owing to the recognition by academic and industrial research, whereas, the drivers for market growth are increase in need for efficient & economical drug delivery system, innovative use of smart polymers in automotive industry, and beneficial property of phase transition. However, high cost associated with the use of smart polymers is projected to hamper the market growth.
The report mainly emphasizes on the smart polymers and their types based on the stimulus they respond to, which include physical stimuli responsive, chemical stimuli responsive, and biological stimuli responsive. The report also analyzes the different types of smart polymers such as shape memory polymers, electroactive polymers, and self-healing polymers along with the current trends and future opportunities in several applications such as biomedical & biotechnology, textile, automotive, electrical & electronics, and nuclear energy. Moreover, geographically the market is studied across North America, Europe, Asia-Pacific, and LAMEA. In addition, it highlights different factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players in the market. The report also presents the quantitative data of smart polymers industry in terms of both value and volume, which are gathered majorly from the secondary sources such as company publications, Factiva, Hoovers, OneSource, and others. The data is validated after analysis from the C-level executives and directors of the companies present in the market.
Market Segmentation Smart Polymers Market
North America leads the global smart polymers market, in terms of both value and volume. Smart polymers market growth is highest Asia-Pacific, owing to the rise in R&D activities for the introduction of novel smart polymers along with the existence of dynamic economies such as China, Japan, India, and South Korea.
Smart Polymers Market Share Analysis, By Geography, 2015 (%)
Self-healing polymers is the most lucrative type segment in the market, followed by electroactive polymers. It possesses the capability to repair themselves in case of any damage without any need for detection by manual intervention. These polymers have the potential to improve the functions of many products with extended lifetime and allow better design, efficiency, and performance of the product. In addition, the ongoing research activities for these polymers are expected to provide lucrative growth opportunities to the industry players in forthcoming years.
Top Investment Pockets Smart Polymers Market
North America accounted for 38.3% of the total patents registered during 2010-2016 whereas, Asia-Pacific and Europe accounted for 23.4% and 17.0% share, respectively, in the same period.
Smart Polymers Industry: Patent Publications by Geography, 2010-2016 (%)
North America Smart Polymers Market
The demand for smart polymers is high in North America, owing to increase in research initiatives for the implementation and commercialization of smart polymers with U.S. being dominant in 2015. Furthermore, rise in adoption of smart polymers in diverse applications such as drug delivery, food & drug packaging, tissue engineering, and robotics are the major factors that boost the market growth.
Canada Smart Polymers Market Growth, 2014-2022 ($Million)
Key players profiled in this smart polymer market report include Covestro AG, BASF SE, Saudi Arabia Basic Industries Corporation (SABIC), Akzonobel, Nippon Shokubai, FMC Corporation, Autonomic Materials Inc., Advanced Polymer Materials Inc., Lubrizol Corporation, and Nexgenia Corporation.
Other major players (not profiled in report) in the market include Huntsman Corporation, Acros Organics, ConvaTec Inc., Bioastra, and BCMaterials.
Key Market Benefits
- This report provides an extensive smart polymers market analysis of the current and emerging trends & dynamics.
- Smart polymers market trends analysis for all the regions is done by constructing estimations for key segments between 2014 and 2022, which assist to identify the prevailing market opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- This study on smart polymers market evaluates competitive landscape to understand the competitive environment across the geographies in smart polymer industry.
- Extensive analysis is conducted on key player positioning and monitoring the top competitors within the market framework.
Smart Polymers Market Key Segments
The smart polymers market is segmented as follows:
- Physical Stimuli Responsive
- Chemical Stimuli Responsive
- Biological Stimuli Responsive
- Shape Memory Polymers
- Electroactive Polymers
- Self-Healing Polymers
- Biomedical & Biotechnology
- Drug Delivery
- Tissue Engineering
- Electrical & Electronics
- Nuclear Energy
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Kingdom of Saudi Arabia
- Rest of LAMEA