December 2018: Adroit Market Research published a study titled, “Global Smart Polymers Market Size 2017, by Stimuli type (Physical, Chemical, Biological and Others), by Application (Biomedical & Biotechnology, Automotive, Electrical & Electronics, Textile, Nuclear Energy and others) and by Region (North America, Europe, Asia Pacific, Rest of the World) Trends and Forecast 2018 to 2025”. 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. The 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 historic market figures have been provided from 2015 to 2017 and forecast figures from 2018 to 2025. The global smart polymers market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.
The 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. On the basis of stimuli type, the market is further segmented into chemical, physical, biological and other responsive polymers. Within this segment, biological segment is anticipated to grow with the highest CAGR owing to its significant use in drug delivery systems, tissue engineering and other bio-medical applications. For instance, smart polymers play a vital role in the technology of self-adaptive wound dressings. The role that smart polymers play is to sense and adapt to the changing humidity and fluid content of the wound, and to automatically switch from absorption to hydration. Hence, various such biomedical applications will have a positive impact on the overall growth of the smart polymers market.
The smart polymers market segmented by application include biomedical & biotechnology, automobile, textile, nuclear energy, electrical & electronics and other applications. Among these, the automotive segment is forecasted to be grow with the highest growth rate in next 8 years. As technology advances, more and more applications of smart polymers are getting birth, significantly in mainstream industries such as automobile. Specifically, smart polymers can be used by the automotive designers to simplify products, add features and improve the performance. For instance, GMC came up with a project called air louver, in which the shape memory material can be used to adjust the airflow. The air louvers would remain closed during the cold starts and open wide to allow the airflow when the engine heats up. Thus, smart polymers have the potential to be the game-changers across various industries which will have a positive influence on the future smart polymers market growth.
According to the region, North America has the highest market share in the global smart polymers market owing to its growing initiatives towards research and commercialization of smart polymers. Within North America, the US had the major sharing followed by Canada and others. The growth rate of Asia-Pacific region is expected to be the highest among all regions, owing to the factors such as urbanization and industrialization.
The global smart polymers market comprises of both players operating at the global and at the country level. Some of the major key players include BASF SE, Advanced Biopolymers AS, Nexgenia Corporation, FMC Corporation, Nippon Shokubai, Autonomic Materials, Inc., Covestro AG, Advanced Polymer Materials Inc., Lubrizol Corporation and others. These companies have established their presence in the market owing to continuous R&D activities and their various strategic initiatives.
Key segments of the global smart polymers market
Stimulus type Overview, 2015-2025 (USD million) (Kilo tons)
Application Overview, 2015-2025 (USD million) (Kilo tons)
- Biomedical & Biotechnology
- Drug Delivery
- Tissue Engineering
- Electrical & Electronics
- Nuclear Energy
- Radiation Detection
- Waste Treatment
Regional Overview, 2015-2025 (USD million) (Kilo tons)
- North America
- Asia Pacific
- Rest of the world