Stimuli Responsive Polymers Market share Industry (2019 to 2027) - Market Trajectory & Analytics
The characteristics of polymers which are determined
by a change in environment factors such as pH, temperature, and others are
known as smart polymers. They are also called stimuli response polymers or
intelligent materials. These polymers are strong, resilient, durable,
ecofriendly and reliable nature. Owing to these attributes, they are used in
various applications such as biotechnology and medicine, drug delivery systems,
and others.
The Global Smart Polymers Market has been driven by
the growing demand of physical stimuli responsive polymers in heavy end
industries. Moreover, it is estimated that the market is set to witness a
higher growth due to an increase in the number of manufacturing units to
produce intelligent materials in automotive, chemical and construction
industries.
Competitive Analysis:
Some of the major players functioning in the
Global Stimuli Responsive Polymers Market are BASF SE (Germany), The Lubrizol Corporation (the
U.S.), Spintech LLC (the U.S.), Akina, Inc.(the U.S.), SMP Technologies
Inc.(Japan), Evonik Industries AG( Germany), Reactive Surfaces Ltd ( the U.S.),
Merck Group ( Germany), NEI Corporation(the U.S.), among others.
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Market Segmentation:
The Global Smart Polymers Market is further
categorized into stimulus type and application. On the basis of stimulus type,
the market is further segmented biotechnology and medicine, electrical &
electronics, automotive, drug delivery systems, and others. Among these,
biotechnology and medicine segment holds the major share in the market due to
growing use of Smart Polymers for the evolution of biocatalyst, biometric
actuators and bio analytical systems. The rise in demand of physical stimuli
polymers due to its ability to change accordingly to the market has propelled
automotive segment to witness a higher growth in the market. It is also
predicted that the growing consumption of responsive polymers in drug delivery
systems segment is set to expand at a higher CAGR in the market during the
forecast period.
Segmental Analysis:
The Global Smart Polymers Market is spanned across
five key regions of the world namely Asia Pacific, North America, Europe, Latin
America and the Middle East & Africa. Among these, North America holds a
major share in the market and is expected to continue its dominance due to
rising demand of Smart Polymers in end use industries such as biotechnology and
medicine, automotive, and others. These polymers are widely used to improve the
optimal performance and standard in heavy end industries.Due to these reasons,
the U.S, Canada and Mexico are the major players in the market. Asia Pacific is
predicted to witness a higher CAGR in countries such as Japan, China and India
owing to growing demand of biocompatible materials in automotive, construction
and industrial machinery. The growing consumption of intelligent materials in
diagnostic materials and devices is estimated to drive the market in the
European region during the forecast period. Due to these factors, Germany, the
U.K. and Italy are the major contributors to the smart market in Europe. The
Middle East & Africa region is estimated to observe a moderate growth in
the market due to lack of standardization and less awareness about the product.
Moreover, a slow growth is predicted in the Latin American regions such as
Brazil, Argentina and Uruguay due to recession and poor technological
advancement.
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