Smart Polymers Market

SHERIDAN, WYOMING, UNITED STATES, November 14, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Smart Polymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global smart polymers market reached a value of US$ 1.37 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.24 Billion by 2027, exhibiting at a CAGR of 15.3% during 2022-2027.

Smart polymers, also called stimuli-responsive polymers or intelligent materials, are high-performance polymers that exhibit unique characteristics according to external conditions or the surrounding environment. They undergo large, reversible, and rapid physical or chemical changes in response to slight alterations in environmental conditions. They are generally sensitive to factors, such as temperature, pH, light, humidity, magnetic or electric field, ionic strength, and biological molecules that respond by changing color, shape, adhesiveness, and water retention properties. As a result, smart polymers are widely used in sensors, actuators, hydrogel production, biodegradable packaging, tissue engineering, and biomedical applications due to their excellent versatility and tunable sensitivity.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The emerging product applications across the healthcare industry represent the primary factors driving the market growth. For instance, smart polymers are extensively employed in smart drug delivery systems as they reduce dosage frequency, lower side effects, ensure drug stability, and enable monitoring of the medication level. Additionally, there has been widespread adoption of smart polymers in medical devices, pharmaceuticals, and gene therapy. Besides this, the growing need for biomedical devices and products, including ventilators and face masks, amid the recent coronavirus disease (COVID-19) outbreak has augmented the product demand. Furthermore, there has been escalating demand for smart polymers to manufacture interior and exterior automotive components, such as automated wipers, airbag sensors, fiber composite tires, self-healing bumpers, actuated valves, and fluid shock systems. Moreover, the rising product usage to fabricate thermo-sensitive, shape-changing, color-changing, pH-responsive, and electronic textiles has catalyzed the market growth. Other factors, including the surging demand from the military sector for manufacturing light-sensitive and camouflage fabrics, increasing biotechnological applications, rising incorporation in 3D printing, and ongoing research and development (R&D) activities, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.24 Billion by 2027, growing at a CAGR of 15.3% during the forecast period (2022-2027).

Breakup by Type:

Shape Memory Polymers
Electroactive Polymers
Self-Healing Polymers
Others

Breakup by Stimulus:

Physical Stimuli Responsive
Chemical Stimuli Responsive
Biological Stimuli Responsive

Breakup by Application:

Textile
Automotive
Electrical and Electronics
Biomedical and Biotechnology
Nuclear Energy
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Akzo Nobel N.V
Autonomic Materials Inc
BASF SE
Covestro AG, Dow Inc
Evonik Industries AG
Huntsman International LLC
Merck KGaA
Nippon Shokubai Co. Ltd
Saudi Basic Industries Corporation
SMP Technologies Inc
Solvay S.A
The Lubrizol Corporation

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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