Electroactive Polymers Market
Electroactive Polymers Market (Product Type - Conductive Polymers, ICP, and IDP; Application - ESD & EMI Protection, Actuators, Sensors, Antistatic Packaging, Plastic Transistors, Coatings, and Inks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Press Release :
Global Electroactive Polymers Market - An Overview
A large number of applications keep the market for electroactive polymers buoyant. From 2016 to 2024, the global electroactive polymers market would grow at a CAGR (Compound Annual Growth Rate) of 7.6%. And, the market worth which was pegged at USD 3.15 bn. in the year 2016 will grow to touch the mark of USD 5.69 bn. by the end of the assessment period.
Few factors that is leading to growth in the market is that there are advancements in technology and growing significance of ferromagnetic and piezoelectric materials. A favourable regulatory framework is also working in favour of the market’s growth over the forecast period.
Besides, increase in production of electronics in countries in the Asia Pacific is also helping the global electroactive polymers market chart a high growth trajectory. Some of these countries are Taiwan, South Korea, Japan, and China. Additionally, nanotechnology is supporting growth in the global electroactive polymers market.
Health Problems can also be solved using biomimetic and artificial muscles. And, this generates demand for electroactive polymers, helping the market grow at a considerable pace over the forecast period. Certain countries such as South Korea have directed efforts towards research and development of medical devices and this will help the market chart a high growth curve.
It is important to note here that these are also used for corrosion inhibiting coatings. These coatings are used on non-ferrous as well as ferrous alloys. Additionally, these are used on actuators, protective fabrics, and metamorphic biomaterials.
One of the biggest industries that are set to drive growth in the global electroactive polymers market is the automotive industry, which is coextensive with electroactive polymers market. An expansion in the former will lead to growth in the latter, as the latter is used to protect equipment against ESD and EMI.
The global electroactive polymers market is quite fragmented and some of the key players that are propelling it to higher growth with their active participation and strategic manoeuvres are Bayer AG, 3M, Parker-Hannifin Corporation, RTP Co., Piezotech S.A, The Lubrizol Corporation, Kenner Material & System Co., Ltd., Celanese Corporation, and Agfa-Gevaert NV, among others.
Electromagnetic Interference Protection and Electrostatic Discharge to Lead the Global Electroactive Polymers Market Growth
The global electroactive polymers market study, compiled into a report by Transparency Market Research, details out growth projections segment wise. The market report is segmented on the basis of product, application, and region. On the basis of product, the sub-divisions include analysis of IDP, ICP, Conductive Polymers, and Others. Others include dielectric elastomers, ferroelectrets, etc. Sub-divisions of the applications segment include Plastic Transistors, Antistatic Packaging, Sensors, Actuators, ESD & EMI Protection, and others. Here, others include batteries, fabrics, and solar cells.
Of all the segments and sub segments in the product and application type, a major share would be accounted for by the electromagnetic interference protection and electrostatic discharge segment. The reason that is attributed to this high performance of the sub-segment is the growth in the associated threats, particularly in consumer electronic devices and in certain semiconductors.
North America to Dominate Global Electroactive Polymers Market over the Forecast Period
The study report on global electroactive polymers market covers North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. And, it is worth pointing out here that owing to presence of strong players in the regional landscape, North America would dominate the global electroactive polymers market.
Increased Production of Electronics to Present Substantial Growth Prospects for the Electroactive Polymers Market
The growth of the global electroactive polymers market is projected to be driven by the rising prominence of ferromagnetic and piezoelectric materials in electronic devices. In addition to that, increased investment in the advancement of novel conductive technologies is likely to augur well for the market in the years to come.
Because of their piezoelectric and conductive qualities, electroactive polymers find utilization in actuators and sensors. Increased demand for production of electronics in countries like Taiwan, China, South Korea, and Japan due to favorable regulatory support is likely to work in favor of the global electroactive polymers market. Besides, increased use of nanotechnology is anticipated to remain one of the important factors of growth.
Growing Importance of Biomimetric and Artificial Muscles to Work in Favor of the Market
The use of electroactive polymers is anticipated to expand as the significance of artificial muscles and biomimetic for solving complicated health problems grows. Electroactive polymers are expected to see increased use for corrosion-inhibiting coatings on non-ferrous as well as ferrous alloys, protective fabrics, actuators, and metamorphic biomaterials in the years to come. Besides that, increasing demand for the commodity in antistatic packaging solutions across a variety of industries is expected to boost sales in the global electroactive polymers market in near future.
Electroactive polymers find utilization in energy storage systems because of their benefits, which include design flexibility, durability, and high power. Heavy portions of aircraft, such as outer panels and wings, may also be replaced with these materials. Electroactive polymers can also be used in underwater robotic applications that require corrosion resistance and fast actuator reaction. Such extensive use of the product is estimated to foster growth of the global electroactive polymers market in the years to come.
Sensing and actuating microfibers refer to electromechanical devices that can be directly incorporated into textiles. It comprises sources of power, electronics, sensors, actuators, and power sources. EAPs can be utilized as smart fabrics because of their low cost and simplicity. In the production of smart fabrics, polyanilines and polypyrrole are used.
This report provides forecast and analysis of the electroactive polymers market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (kilo tons) and revenue (US$ Mn). It includes drivers and restraints of the electroactive polymers market along with their impact on demand during the forecast period. The report also comprises the study of opportunities available in the market for electroactive polymers on the global and regional level.
In order to provide users of this report with comprehensive view of the market, we have included detailed value chain analysis, listing market players for each entity in the value chain. Analysis of Porter’s Five Forces model has also been included to help understand the competitive landscape in the global electroactive polymers market. The study encompasses market attractiveness analysis in terms of application segments and countries, wherein application segments are benchmarked based on their market size, growth rate, and general attractiveness. A detailed customer list is also included in the report.
Segmentation comprises demand for individual products and applications in all the regions and important countries. Product segmentation includes current and estimated demand for conductive polymers, ICP, IDP, and others, while application segmentation includes present and forecast demand for electroactive polymers in ESD & EMI protection, actuators, sensors, antistatic packaging, plastic transistors, and others. Market numbers have been estimated based on the average usage of different kinds of electroactive polymers in various end-use industries. Market size and forecast for each product segment have been provided in the context of global and regional markets. Market dynamics prevalent in the U.S., Europe, and Asia Pacific have been taken into account for estimating the growth of the global market. Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. The electroactive polymers market has been analyzed based on expected demand. Market data for each segment is based on demand volume and corresponding revenue. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback and application requirement. All market numbers have been derived on the basis of demand for electroactive polymers in different applications in different regions. All existing key applications have been considered and potential applications have been estimated on the basis of secondary sources and feedback by primary respondents. Regional consumption patterns have been considered while estimating the market for various applications of electroactive polymers in different regions. We have used the top-down approach to estimate the global electroactive polymers market, split by regions. The global product segment and application split of the market have been derived using the bottom-up approach, which is cumulative of each region’s demand. Regional demand is the summation of sub-regions and countries within the region. Market share of companies has been derived on the basis of revenue reported by key manufacturers and analysis of product portfolio of the manufacturers. The market has been forecast based on constant currency rates.
The report provides detailed competitive outlook including market shares and company profiles of key participants operating in the global market. Key players profiled in the report include PolyOne Corporation, Celanese Corporation, BASF SE, Cabot Corporation, The Lubrizol Corporation, PolyDrop, LLC, and Heraeus Deutschland GmbH & Co. KG. Company profiles include attributes such as company overview, financial overview, business strategy, and recent developments.
The market has been segmented as below:
Electroactive Polymers Market - Product Segment Analysis
- Conductive Polymers
- Others (Including Ferroelectrets, Dielectric Elastomers, etc.)
Electroactive Polymers Market - Application Analysis
- ESD & EMI protection
- Antistatic Packaging
- Plastic Transistors
- Others (Including Fabrics, Solar Cells, Batteries, etc.)
Electroactive Polymers Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA