electroactive polymers market Synopsis Report 2021-2030 | Industry Dynamics, Top Players, Current Trends and Revenue Forecast

Electroactive polymers (EAP) are a type of elastomer (flexible, elastic polymer) that changes its shape and size when an external electrical field is applied to it. Due to this interesting property, EAPs are used in various applications including construction materials, automotive parts, plastics, and clothing.

Moreover, made using a low-cost manufacturing process, electroactive polymers are extremely cost competitive. As a cumulative result of these advantages, EAPs are extensively used in various applications such as actuators, sensors, ESD & EMI protection, drug delivery systems, robotics, and electrostatic plastics among others.

Major Players:

Key players leading the global electroactive polymers market include Parker-Hannifin Corporation (U.S.) Solvay (Belgium), Agfa-Gevaert Group (Belgium), Merck Sharp & Dohme Corporation (Germany), 3M (U.S.), The Lubrizol Corporation (U.S.), Premix (Finland), Novasentis, Inc (U.S.), PolyOne Corporation (U.S.), and Kenner Material & System Co., Ltd (China) among others.

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Resultantly, electroactive polymers witness a prominence and demand in the market, and its market garners huge accruals, globally. The rapid industrialization and urbanization provide a huge impetus to the growth of the market.  Moreover, the growing demand from the burgeoning sectors such as automotive and electronics escalates the market on the global platform.

Considering the rapid expansion, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global electroactive polymers market will garner exponential accruals registering a CAGR of 7% throughout the forecast period (2017 – 2023).

Conversely, factors such as the volatility in the prices and the demand and supply gap in the raw materials required for the production of EAPs acting as a major tailwind impeding the growth of the market. Nevertheless, the rapidly quadrupling consumer electronic market will support the growth of the market.

Electroactive Polymers Market   – Segments

For ease of understanding, the MRFR analysis has been segmented into three key dynamics: –

By Product Type               : Conductive Polymers, Inherently Conductive Polymers, and Inherently Dissipative Polymers among others.

By Application  : Actuators, Sensors, Antistatic Packaging, and ESD & EMI Protection among others.

By Regions                          : North America, Asia Pacific, Europe, and the Rest-of-the-World.

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Global Electroactive Polymers Market   – Regional Analysis

The North American region, heading with the rapid industrialization accounts for the leading market in the global electroactive polymers market.  Factors such as the presence of a well-penetrated automotive sector, sustained increase in electronics products as well as in demand, and a growing industrial output are substantiating the growth in the regional market. The US accounting for one of the five largest markets for electroactive polymers stands as the primary growth driver for the regional market.

The electroactive polymers market in the European region accounts for the second-largest market, globally. Presence of well-developed automotive industry alongside the burgeoning electronic market drives the growth of the regional market, creating a massive demand for demand for actuators and sensors. Some of the European countries such as Germany, Italy, and France account for the significant growth contributors for the regional market.

Electroactive Polymers Market   – Competitive Analysis

Fiercely competitive the electroactive polymers market appears to be fragmented due to the presence of several large and small-scale players. Well-established, manufacturers strive to increase the production capacity and develop new products. Moreover, the increasing application areas of electroactive polymers are encouraging the players to invest in R&D activities to formulate new products and to develop new technologies.

Industry/ Innovation/ Related News

January 15, 2019 –– Pliant Energy Systems LLC (the US), a leading global company conceptualizing, patenting, and developing technologies in the fields of energy harnessing and marine robotics announced that its Velox robot, an Agile Amphibious Swimmer which was earlier confined for marine or underwater uses can now be used on lands as well.

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