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2020

Smart Polymers Market

Smart Polymers Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Stimulus and Application : Global Opportunity Analysis and Industry Forecast, 2020-2027

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Author's: Anil Chaudhary| Ayushi Choudhary | Eswara Prasad
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Smart Polymers Market Outlook - 2027

The global smart polymers market was valued at $4.0 billion in 2019, and is projected to reach $9.9 billion by 2027, growing at a CAGR of 12.1% from 2020 to 2027.

Smart polymers are tough, easy to process, flexible, resilient, and biocompatible that are used in numerous applications. The significance of smart polymers is increasing day-by-day, owing to their ability to undergo large reversible, physical, or chemical changes in response to fluctuations in the environmental conditions. They respond to several environmental stimuli such as pH, temperature, light, electric field, enzymes, and biomolecules. They are used in numerous promising applications in biomedical field such as tissue engineering scaffolds, cell culture supports, delivery systems of therapeutic agents, and sensors or actuators systems.

Smart-Polymer-Market-2020-2027

Smart polymers find application in biomedical & biotechnology, automotive, and textile industries. Furthermore, rise in demand for smart material-based sensors and actuators from the automotive industry at low cost with superior performance and high reliability drives the demand for smart polymers. In addition, smart polymers are widely used in drug delivery system as these polymers maintain stability of the drug level in therapeutic window, allow monitoring of the medication level, and increase patient compliance. Surge in importance of design & synthesis of efficient drug delivery systems in the healthcare sector is expected to drive the growth of smart polymers market. Furthermore, ongoing COVID-19 pandemic across the globe has led to increase in demand for biomedical devices and products such as ventilators and face masks to stop the transmission of corona virus and to treat the affected patients. In addition, smart polymers are also used in manufacturing of biomedical devices such as artificial teeth, artificial bones, pacemakers, hip and knee replacements, and dental implants as smart polymers are biocompatible can help achieve long-term service life of these medical devices. These factors are expected to drive the growth of the smart polymers market during the forecast period.

However, factors such as low cost of smart polymers as compared to conventional polymers are expected to hinder the growth of the smart polymers market. In addition, rise in growth of the healthcare sector has led to increase in demand for smart polymers as these polymers are biocompatible and can help achieve long-term service life of medical devices. This is expected to provide lucrative opportunities for smart polymers market to grow in the near future.

The global smart polymers market size is segmented on the basis of type, stimulus, application, and region. On the basis of type, the market is categorized into shape memory polymers, electroactive polymers, self-healing polymers, and others. By stimulus, it is divided into physical stimuli responsive, chemical stimuli responsive, and biological stimuli responsive. The applications covered in the study comprise biomedical & biotechnological, textile, electrical & electronics, automotive, nuclear energy, and others. Region wise, the smart polymers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major key players operating in the smart polymers industry include BASF SE, Covestro AG, SABIC, Autonomic Materials, Inc., Nouryon, Evonik Industries AG, Berkshire Hathaway, Inc., Merck KGaA, Solvay SA, and Medshape, Inc. Other players operating in this market include Advanced Polymer Materials Inc., Spintech LLC, Akina Inc., SMP Technologies Inc., and Reactive Surfaces Ltd. These major key players are adopting different strategies such as product launch, agreement, and business expansion to stay competitive in the global market.

Smart Polymers Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit an CAGR of 13.3% during 2020-2027.

Global Smart Polymers Market, by region

North America accounted for the major share in 2019 in the global smart polymers market, owing to continuously increasing research initiatives for the implementation and commercialization of smart polymers. The U.S. has the largest share in the global healthcare market. Moreover, rapid growth of the medical industry in the nation is expected to augment the demand for smart polymers. The country is highly advanced in the field of drug delivery, as well as the development of advanced medical technologies, which creates a huge demand for smart polymers in the country. Furthermore, rise in adoption of smart polymers in diverse applications, such as drug delivery, food and drug packaging, tissue engineering, and robotics, are the major factors that may boost the smart polymers market growth in the U.S., during the forecast period. In addition, in Canada, smart polymer is an emerging research area for the implementation and commercialization of smart polymers. Thus, increase in research activities is expected to introduce the new application areas for smart polymers, which in turn provides growth opportunity to the industry players in this region.

Smart Polymers Market
By Type
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Shape Memory Polymers is projected as the most lucrative segment.

Global Smart Polymers Market, by type

The shape memory polymer segment accounted for the major share in 2019. Shape memory polymers are used in the development of novel smart materials for a variety of engineering applications that are expected to replace the traditional materials. Currently, these polymers are of great interest for fundamental research and technological innovation. These polymers are used in wide range of applications such as surgical fixation, aviation, telecommunication, medical, clothing, automotive, and robotics. The most attractive application area of shape memory polymers is its use in active medical devices, which is expected to provide the substantial growth opportunity to the industry players.

Smart Polymers Market
By Stimulus
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Physical Stimuli Responsive is projected as the most lucrative segment.

Global Smart Polymers Market, by stimulus

Depending on stimulus, the physical stimuli responsive segment accounted for the major smart polymers market share in 2019. Physical stimuli responsive smart polymers are sensitive to several environmental stimuli and change their microstructural features in response to these stimuli. These types of smart polymers are widely used as a safe polymer in biomedical & biotechnology applications. The most widely studied and used thermo-sensitive smart polymers are poly (N-alkyl substituted acrylamide) and poly (N-isopropyl acrylamide) with transition temperature of 32°C. Poly (N-vinylalkylamides) like poly (N-vinyliso-butyramide) and poly (N-vinyl caprolactam) with transition temperature 39°C are also highly studied thermos-sensitive polymers. Other polymers with different transition temperature from 4-6°C for poly (N-vinyl piperidine) to 100°C for poly (ethylene glycol) are currently available. The wide acceptance of physical stimuli responsive smart polymers is expected to provide the noteworthy growth potential to the industry players in this market.

Smart Polymers Market
By Application
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Biomedical & Biotechnology is projected as the most lucrative segment.

Global Smart Polymers Market, by application

Based on application, the biomedical & biotechnology segment held the major share in 2019. Smart polymers are widely used in numerous applications such as targeted drug delivery, enhanced drug delivery, gene therapy, actuator stimuli, and protein folders. The pharmaceutical uses include targeted drug delivery system, bio-separation & microfluidic processes, tissue engineering, gene carriers, and biosensors reversible biocatalysts. The main properties of smart polymers that make them suitable for biomedical & biotechnology applications are maintaining stability of drug, maintaining the drug level in therapeutic window, and ease of production. The smart polymers are next generation materials exhibiting extraordinary properties, and are expected to play a key role in the future of smart medicine. The increase in implementation in drug delivery, tissue engineering, bio-separation, and biocatalyst is expected to provide remarkable growth opportunities to the industry players in this market.

COVID-19 Analysis:

COVID-19 has driven smart polymer sales to medical markets to unprecedented levels. According to the organization for Economic Co-operation and Development, Chinese production of N95-type masks jumped from 20.0 million units per day before the crisis to 150.0 million in February. In addition, from January 2020 to May 2020, 70,802.0 new companies registered in China to make or trade face masks, a 1,256.0% increase compared to 2019. Due to this the demand for smart polymers has been surged during the COVID-19 pandemic from face mask manufacturers.

Smart polymers such as shape memory polymers and self-healing polymers are used in manufacturing of biomedical devices such as ventilators, artificial teeth, artificial bones, pacemakers, hip and knee replacements, and dental implants. During the COVID-19 outbreak, the demand for biomedical devices has been surged significantly for the treatment of corona virus affected patients and also the patients suffering from other diseases and ailments. This factor is likely to increase the demand for smart polymers from biomedical device manufacturers during the forecast period.

In the automotive industry, smart polymers find a wide range of applications, ranging from reconfigurable storage bins, seat assemblies, energy absorbing assemblies, hood assemblies, vehicles structures, to airflow control systems, releasable fastener systems, and adaptive lens assemblies. The automotive industry has been affected badly due to COVID-19 outbreak amid lockdown. The automotive manufacturers have halted their production activities of electric vehicles due to disrupted supply chain. The decline in production of passenger vehicles is likely to decline the demand for smart polymers and is expected to affect the growth of the market during the forecast period.

The production of smart polymers is also likely to hamper during and after the lockdown due to non-availability of workers. According to the UNIDO (United Nations Industrial Development Organization), 30.0%–70.0% of pre-COVID-19 workforce of polymer manufacturing companies has migrated back to their hometowns due to uncertainties and loss of income during the lockdown. This non-availability or less availability of workforce will directly affect the annual production of smart polymers.

The smart polymers manufacturers across the countries such as China and India have huge opportunities to grow and generate maximum revenue as government of these countries are gradually lifting the lockdown restrictions to start the industrial activities. Due to this, the demand for smart polymers and its products across the automotive, healthcare, textile, and electronics industries is expected to increase, which is anticipated to drive the demand for smart polymers.

Key Benefits For Stakeholders

  • The smart polymers market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides an in-depth analysis of the smart polymers market forecast for the period 2020-2027.
  • The report outlines the current smart polymers market trends and future scenario of the global smart polymers market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 
  • The key drivers, restraints, and smart polymers market opportunities and their detailed impact analysis are elucidated in the study. 

Smart Polymers Market Report Highlights

Aspects Details
Smart Polymers Market By Type
By Type
  • Shape Memory Polymers
  • Electroactive Polymers
  • Self-Healing Polymers
  • Others
Smart Polymers Market By Stimulus
By Stimulus
  • Physical Stimuli Responsive
  • Chemical Stimuli Responsive
  • Biological Stimuli Responsive
Smart Polymers Market By Application
By Application
  • Biomedical & Biotechnology
  • Textile
  • Electrical & Electronics
  • Automotive
  • Nuclear Energy
  • Others
Smart Polymers Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

SOLVAY SA, AUTONOMIC MATERIALS, INC., SABIC, BASF SE, EVONIK INDUSTRIES AG, MERCK KGaA, NOURYON, MEDSHAPE, INC., COVESTRO AG, BERKSHIRE HATHAWAY INC.

Analyst Review

According to analyst, rise in need for efficient & economical drug delivery system, innovative use of smart polymers in automotive application, and valuable property of phase transition drive the demand for smart polymers in the global market. Smart polymers are tough, easy to process, flexible, resilient, and biocompatible that are used in numerous applications.

However, high cost associated with the use of smart polymers is expected to hamper the market growth. At present, biomedical & biotechnology is the major application market for smart polymers. Similarly, shape memory polymers are widely used type of smart polymers, owing to its ability to recover its original shape in response to the different environmental stimuli.

According to the analyst, the demand for smart polymers witness significant growth in all the regions, owing to its favorable properties and demand in wide area of applications, which create opportunities for all players in the market.

Author Name(s) : Anil Chaudhary| Ayushi Choudhary | Eswara Prasad
Frequently Asked Questions?

Growing demand for smart material-based sensors and actuators from automotive industry at low cost with superior performance and high reliability drives the demand for smart polymers. In addition, Surge in demand for efficient drug delivery systems in healthcare sector is expected to drive the growth of smart polymers market. Furthermore, increase in demand for biomedical devices and products such as ventilators and face masks to stop the transmission of corona virus and to treat the affected patients is likely to rise the demand for smart polymers in near future and is expected to boost the growth of the market.

The global smart polymers market was valued at $4.0 billion in 2019, and is projected to reach $9.9 billion by 2027, growing at a CAGR of 12.1% from 2020 to 2027.

Top companies in the Smart Polymers industry includes BASF SE, Covestro AG, SABIC, Autonomic Materials, Inc., Nouryon, Evonik Industries AG, Berkshire Hathaway, Inc., Merck KGaA, Solvay SA, and Medshape, Inc.

Increase in awareness of consumers regarding smart polymers, their valuable properties, and their respective end-use is expected to create growth opportunities in coming years.

Healthcare and textile industry is projected to increase the demand for Smart Polymers Market.

Self-healing polymers, Chemical stimuli responsive, and Textile are the most influencing segment growing in the Smart Polymers Market Report

Innovative use of smart polymers in the automobile industry and increase in need for efficient and economical drug delivery system are the main Driver of Smart Polymers Market

Biomedical & biotechnology , and textile applications are expected to drive the adoption of Smart Polymers

Covid-19 has driven smart polymer sales to medical markets to unprecedented levels. Ongoing Covid-19 pandemic across the globe has led to increase in demand for biomedical devices and products such as ventilators and face masks to stop the transmission of corona virus and to treat the affected patients.

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Smart Polymers Market

Global Opportunity Analysis and Industry Forecast, 2020-2027