Global Electroactive Polymers Market: Snapshot
The global electroactive polymers market is being used extensively across the globe with a rising number of applications. The automotive industry is one of the key application segments, which is projected to accelerate the growth of the market in the next few years. Moreover, the rising use of electroactive polymers in the healthcare segment is estimated to support the development of the global electroactive polymers market in the next few years. Furthermore, innovations in the electroactive polymers field is predicted to offer potential opportunities for the players in the coming few years.
Increasing Use of Smart Fabrics to Drive Electroactive Polymers Market
In 2016, the global market for electroactive polymers was worth US$3.15 bn and is predicted to reach a value of US$5.69 bn by the end of 2024. The market is further anticipated to exhibit a promising 7.60% CAGR between 2016 and 2024, states a research study that has been presented by Transparency Market Research.
The rising popularity and demand for smart fabrics is the key factor estimated to encourage the growth of the global electroactive polymers market in the next few years. The ease of synthesis, low cost of materials, flexibility, and lightweight are the major factors that are likely to support the overall growth in the next few years. In addition to this, the rising number of biomimetic appliances is projected to ensure the growth of the market in the near future. On the other hand, the lack of extensive communization of EAPS and the rising environmental impact are predicted to curb the market growth in the near future. Nevertheless, the development of new products and advancements in this field are projected to push the growth over the next few years.
North America to Lead Global Electroactive Polymers Market in Near Future
North America holds a key share of the global electroactive polymers and is expected to lead the market in the next few years. The rising contribution from the U.S. and the existence of several leading players are likely to support the growth in the near future. In addition to this, the rise in the demand for inherently conductive polymers is another factor that is predicted to enhance the market growth in the coming few years. Furthermore, Europe and Asia Pacific are projected to witness healthy growth in the near future. The key players are making efforts to create an awareness among consumers concerning the advantages of electroactive polymers, thus supporting the market growth in the near future.
The global market for electroactive polymers is enjoying a high level of competition with a huge number of players operating worldwide. The participation of several new players local as well as international is anticipated to enhance the market growth and strengthen the competitive scenario of the market in the near future. The increasing investments by the leading players for developments and research activities, which is predicted to ensure the market growth in the next few years. In addition to this, these players are targeting developing economies, which holds immense growth opportunities in the coming years. Some of the leading players in the electroactive polymers market across the globe are The Lubrizol Corporation, BASF SE, Heraeus Deutschland GmbH & Co. KG, PolyDrop, LLC, Cabot Corporation, IonPhasE, Premix Oy, PolyOne Corporation, and Celanese Corporation.
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