3rd January 2020 – 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. However, high cost of product may
restrain the overall market in the near future. Smart Polymers Market is
segmented based on type, end user, and region.
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Biological Stimuli Responsive Polymers,
Physical Stimuli Responsive Polymers, and Chemical Stimuli Responsive Polymers
are the types that could be explored in Smart Polymers and are estimated to
lead the overall market in the upcoming period. Biological stimuli responsive
polymers sector comprises self-healing polymers and enzymes-responsive
polymers. Physical stimuli responsive polymers comprise electroactive &
magnetically thermo-responsive polymers, pressure-responsive polymers, and
photo-responsive polymers. On the other hand, chemical stimuli responsive
polymers comprise pH-responsive polymers. Physical Stimuli Responsive Polymers
sector accounted for the substantial market share of Smart Polymers in 2016 and
is estimated to lead the overall market in future.
The market may be categorized based on
end users like automotive, biomedical & biotechnology, electrical &
electronics, textiles, and others. The other sector comprises aerospace &
defense, food packaging, consumer goods, and footwear. The biomedical &
biotechnology sector accounted for the substantial market share of Smart
Polymers in 2016 and is estimated to lead the overall market in the upcoming
period. 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. In addition, the market in this region
is estimated to grow at a significant CAGR in future. The United States is a
major consumer of Smart Polymers in this region. This may be due to the demand
from major industries like footwear, automotive, textiles, and medical.
Instead, Europe and the Asia Pacific are
also estimated to have a positive influence on the future growth. Europe is the
second largest region with significant market share. However, Asia Pacific is
estimated to grow at the highest CAGR in the foremost period. The developing
countries like India and China are the major consumers of smart polymers in
this region.
The key players of Smart Polymers Market
are NEI Corporation, BASF, Reactive Surfaces, Lubrizol, SMP Technologies, Dow
Chemical, Akina, Evonik, Merck, Advanced Polymer Materials, and Spintech. These
players are concentrating on inorganic growth to sustain themselves
amidstfierce competition.
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