According to the report published by Allied Market Research, the global smart polymers market garnered $4.0 billion in 2019, and is estimated to generate $9.9 billion by 2027, witnessing a CAGR of 12.1% from 2020 to 2027. The report provides an extensive analysis of changing market trends, top winning strategies, key segments, Porter’s Five Forces, and business performance of key market players.
Utilization in the automotive industry, surge in need for efficient drug delivery system, and its characteristics of providing reversible phase transitions drive the growth of the global smart polymers market. However, high cost associated with smart polymers hinders the market growth. On the other hand, wide array of applications in the biomedical field such as tissue engineering scaffolds, delivery systems of therapeutic agents, cell culture supports, and sensors or actuators systems present new opportunities in the coming years.
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Covid-19 Scenario:
- There has been a considerable increase in demand of biomedical devices and related products such as ventilators and face masks in which shape memory polymers and self-healing polymers are used. These products are effective in avoiding transmission and treatment of affected patients.
- The production of N-95, one of the effective face masks to prevent infection, rose considerably as the pandemic hit the world. Consequently, the demand for smart polymers increased.
- However, the demand from the automotive industry has been declined as production activities of electric vehicles and other automobiles have been halted due to lockdown enforced by governments.
- Majority of skilled workers from the manufacturing plants have migrated to their hometowns. Owing to non-availability or less availability of workforce, the production of smart polymers has been affected considerably.
The report offers a detailed segmentation of the global smart polymers market based on type, stimulus, application, and region.
Based on type, the shape memory polymers segment contributed to the highest market share in 2019, accounting for more than two-fifths of the total market share, and is projected to maintain its lead during the forecast period. Moreover, the self-healing polymers segment is projected to register the highest CAGR of 13.1% from 2020 to 2027.
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Based on stimulus, the physical stimuli responsive segment held nearly half of the global smart polymers market share in 2019, is expected to maintain its dominant position throughout the forecast period. However, the chemical stimuli responsive segment is expected to portray the largest CAGR of 12.7% during the forecast period.
Based on region, North America accounted for the highest share of the global market, holding nearly one-third of the total share in 2019, and will maintain its leadership status during the forecast period. How
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Leading Market Players: -
- BASF SE
- SABIC
- Covestro AG
- Nouryon
- Solvay SA
- Evonik Industries AG
- Autonomic Materials Inc
- Merck KGaA
- Berkshire Hathaway Inc
- Medshape Inc
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Global Smart Polymers Market: OverviewThe global smart polymers market study provides the market estimates in terms of volume (Kilo Tons) and revenue (USD Million), for a total period of 2015 to 2025.
The global smart polymers market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.The report consists of global smart polymers market trends such as such as drivers, restraints and opportunities.
Porter’s Five Forces analysis, PESTEL analysis, and value chain analysis are the analytical tools utilized in the published study in order to gain a better understanding of the global smart polymers market.Request for sample copy of Smart Polymers Market report at: https://www.adroitmarketresearch.com/contacts/request-sample/709The global smart polymers market size is estimated to reach USD 29.14 billion by 2025, driven by increasing requirement of efficient drug delivery system, innovative use of smart polymers in various industry verticals such as automobile, textile and biotechnology.
Increasing investment in R & D of smart polymers by the major market players to find innovative solutions in biomedical field will propel the global smart polymers market in the forecast period.The global smart polymers market is categorized into stimuli type and application.
For instance, smart polymers play a vital role in the technology of self-adaptive wound dressings.
Among these, the automotive segment is forecasted to be grow with the highest growth rate in next 8 years.
This report studies Smart Polymers Market with SWOT analysis, Market Share, Restraint analysis, Segmentation, Insights, Growth, Application, Trends, Market driver analysis, Revenue and Competitive analysis in these regions, forecast to 2025. This report focuses on top manufacturers in Global Market
Global Smart Polymers Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Smart Polymers are also termed as “stimuli-responsive polymers” or “intelligent polymers” that undergo large reversible changes, either chemical or physical, due to environmental variations.
These kinds of materials are sensitive to several factors like intensity of light, temperature, magnetic or electrical field, wavelength, humidity, and pH. Increasing need for effective drug delivery systems, rising demand from drug delivery and automotive sectors, and enhancement of smart textiles are documented as the major factors estimated to enhance the growth in the years to come.
Global Smart Polymers Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe.
Smart Polymers are also termed as “stimuli-responsive polymers” or “intelligent polymers” that undergo large reversible changes, either chemical or physical, due to environmental variations.
These kinds of materials are sensitive to several factors like intensity of light, temperature, magnetic or electrical field, wavelength, humidity, and pH.
These polymers are representing promising means for gene therapy, targeted drug delivery, actuator stimuli and protein folders, and enhanced drug delivery.Increasing need for effective drug delivery systems, rising demand from drug delivery and automotive sectors, and enhancement of smart textiles are documented as the major factors estimated to enhance the growth in the years to come.
Physical stimuli responsive polymers comprise electroactive & magnetically thermo-responsive polymers, pressure-responsive polymers, and photo-responsive polymers.
This may be due to phase separation process and manufacturing of effective drug delivery systems.Globally, North America accounted for the substantial market share of Smart Polymers in 2016 and is estimated to lead the overall market in the years to come.
According to the report published by Allied Market Research, the global smart polymers market garnered $4.0 billion in 2019, and is estimated to generate $9.9 billion by 2027, witnessing a CAGR of 12.1% from 2020 to 2027.
The report provides an extensive analysis of changing market trends, top winning strategies, key segments, Porter’s Five Forces, and business performance of key market players.Utilization in the automotive industry, surge in need for efficient drug delivery system, and its characteristics of providing reversible phase transitions drive the growth of the global smart polymers market.
On the other hand, wide array of applications in the biomedical field such as tissue engineering scaffolds, delivery systems of therapeutic agents, cell culture supports, and sensors or actuators systems present new opportunities in the coming years.Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/2154Covid-19 Scenario:There has been a considerable increase in demand of biomedical devices and related products such as ventilators and face masks in which shape memory polymers and self-healing polymers are used.
Consequently, the demand for smart polymers increased.However, the demand from the automotive industry has been declined as production activities of electric vehicles and other automobiles have been halted due to lockdown enforced by governments.Majority of skilled workers from the manufacturing plants have migrated to their hometowns.
The report offers a detailed segmentation of the global smart polymers market based on type, stimulus, application, and region.Based on type, the shape memory polymers segment contributed to the highest market share in 2019, accounting for more than two-fifths of the total market share, and is projected to maintain its lead during the forecast period.
However, Asia-Pacific is projected to witness the fastest CAGR of 13.3% from 2020 to 2027.Leading players of the global smart polymers market include BASF SE, SABIC, Covestro AG, Nouryon, Solvay SA, Evonik Industries AG, Autonomic Materials, Inc., Merck KGaA, Berkshire Hathaway, Inc., and Medshape, Inc.Interested in Procuring this Report?
