According to a new report published by Grand View Research, Inc.; the global smart polymers market is estimated to reach a valuation of around USD 20.02 billion by 2025. Growing product demand in several applications, such as textile, biomedical and biotechnology, electrical and electronics, automotive, and nuclear energy, is expected to propel the market growth during the forecast period (from 2018 to 2025). Smart polymers are also known as stimuli-responsive entities that have good responsiveness to micro- and macro-level variations in environments. Smart materials can undergo several physiological variations and respond to external stimuli, such as light, temperature, pH, sound, enzymes, and chemical ions.
They also have an ability to regain their original properties. Thus, these materials find applications in tissue engineering systems, reversible biocatalysts, bio-separation devices, and self-regulated drug delivery systems. All these factors are expected to help boost the market growth in the coming years. Smart polymers are widely used to develop fabrics that can endure in extreme climatic conditions. They are also used in the processing of color-changing fabrics and shape-changing and -recovering yarns. Features, such as flexibility, stability, and biocompatibility, offered by these stimuli-sensitive materials are expected to increase their application scope in other industries including printing, pharmaceutical, mining, and oil recovery.
Full Research Report On Smart Polymers Market Analysis: www.grandviewresearch.com/industry-analysis/smart-polymers-market
Germany smart polymers market, by stimuli type, 2014 – 2025, (USD Million)
This is also projected to boost the market growth in future. The global smart polymer market is segmented on the basis of stimulus type, application, and region. Based on stimulus type, the market is categorized into physical, chemical, biological, and others. The physical stimuli-responsive product segment accounted for the largest market share of 47.6% in 2015. These materials are extremely sensitive towards the environmental changes in magnetic field, temperature, electric potential, ultrasound, and UV radiations. Demand for intelligent materials that exhibit low critical solution temperatures, particularly in biomedical and biotechnology applications, can boost the segment growth. The biological segment is anticipated to witness the fastest growth in the coming years.
Emerging biotechnological applications, such as protein recombination and purification processes, are also likely to fuel the segment development in the forecast period. Based on application, the market is split into biomedical and biotechnology, textile, automotive, electrical and electronics, nuclear energy, and others. The textiles segment held 17.9% of the total revenue share in 2015. The segment is anticipated to boost the demand for smart materials in the coming years as chemical and physical stimuli-responsive materials are widely utilized in textile processing. The automotive segment is anticipated to create lucrative growth opportunities for the market. This is attributed to increasing R&D for the development of innovative materials that can be used in the manufacturing of automobile interior and exterior parts.
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Global smart polymers market, by application, 2015 (%)
Based on regional the market can be divided into North America, Asia Pacific, Europe, and Rest of the World (RoW). North America held the largest share of 41.6% in 2015. The region is anticipated to follow same trend during the projected period. This can be attributed to high demand and technological progressions in end-use technologies including biotechnology, medical and healthcare biomedical engineering, textiles, automotive, and others. U.S. occupied 88.9% of the regional revenue share in the past. Growing development in healthcare sector along with significant requirement of smart materials in military applications, such as light-sensitive and camouflage textiles, are supporting the market growth in North America.
Europe accounted for the second-largest market share in 2015 and is estimated to expand further. Presence of stringent environmental regulations is the major factor driving the regional market. Trends, such as use of effective diagnostic devices and R&D in nanomedicine, are contributing to the regional growth. Some of the prominent companies in the global smart polymers market include Autonomic Materials, Inc.; Lubrizol Corporation; Advanced Polymer Materials Inc.; Advanced Biopolymers AS; and Nexgenia Corporation. These market players have undertaken several market strategies, such as new product launch and focus on emerging applications, to strengthen their industry positions. For instance, HeiQ, a pioneer in sportswear fabrics, recently introduced HeiQ Adaptive AC-06, a hydro-functional polymer. The new polymer is designed to help regulate the body temperature during physical activity.
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