Global Electroactive Polymers Market: Overview
Electroactive polymers are one of the most versatile elastomers that can be stimulated by applying suitable external electric field. They have emerged as promising in a variety of electronics and automotive applications. The burgeoning application of electroactive polymers in the electronics industry, especially in developing regions, is driving the evolution of the market. Electroactive polymers have wide applications as actuators and sensors in various end-use industries.
Advances in materials used in developing electroactive polymers and recent cutting-edge innovations in manufacturing processes have resulted in actuators being robust, efficient, and more functional. As a result, electroactive polymers find extensive demand from the automotive industry in making a variety of components such as sensors and accelerometers. In the coming years, advances being made in the actuator segment will open up promising applications in the healthcare sector with their use in biomimetic-robotics.
A large untapped market in various regions such as North America and Europe are expected to open up lucrative growth avenues for companies. Witnessing numerous promising opportunities, the electroactive polymers market is projected to rise at 7.6% CAGR during the forecast period of 2016–2024, in terms of revenue. The estimated revenue of the market was US$3.15 bn by the end of 2016 and by the end of 2024, it is anticipated to garner a value of US$5.69 bn.
Protection of Electronic Devices against Electromagnetic Interferences to Boost Uptake
The major application segments of the electroactive polymers market are electrostatic discharge (ESD) and electromagnetic interference (EMI) protection, actuators, sensors, antistatic packaging, plastic transistors, inks, and paints. Among these, the ESD and EMI segment is projected to lead the market. The mounting threat of electromagnetic interferences and electrostatic discharges in consumer electronic devices and semiconductors. High-performance electroactive polymers find use in making various EMI-shielding components. Compared to traditional polymers, these polymers can prevent the formation of static electricity, leading to the impressive growth of the sector. The electroactive polymers for ESD and EMI protection segment is projected to reach a value of approximately US$2bn, globally. The burgeoning demand for sensors and actuators for automobiles is also anticipated to expand the applications of these polymers. Meanwhile, the conductive polymer segment is projected to generate maximum revenue by the end of the forecast period.
North America Market to Dominate in Applications of Electroactive Polymers
Regionally, the global electroactive polymers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, current North America dominates the global market and is projected to remain so throughout the forecast period. The U.S constitutes the major chunk of demand for electroactive polymers, attributed to the presence of large number of prominent players. The North America market for electroactive polymers is projected to occupy a share of 62.3% of the aggregate value held in demand for electroactive polymers, by the end of the forecast period. The growth of the market is driven by the substantial demand for inherently conductive polymers (ICPs). The North America regional market is trailed by the Europe and Asia Pacific markets. The lack of awareness of the functionalities of electroactive polymers has led to a subdued demand in these regions. This scenario is likely to alter with time as market players explore lucrative avenues in untapped markets across the globe. Global as well as regional players are exploring growing opportunities in several countries of Asia Pacific.
This report provides forecast and analysis of the electroactive polymers market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (kilo tons) and revenue (US$ 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