The Electroactive Polymers Market is estimated
at USD 3.51 billion in 2017 and is
projected to reach USD 5.12 billion by 2022, at a CAGR of 7.9% between 2017 and
2022. Mergers & acquisitions and new product launches are the key
strategies adopted by the major players to strengthen their footholds in the
electroactive polymers market.
Cost of raw material is one of the major
factors influencing the demand for electroactive polymers. The electroactive
polymers market has been segmented on the basis of type, application, and region.
EAPs are polymers that possess electrical
properties similar to metals along with the mechanical properties of polymers. Polymer
doping helps enhance these properties and makes EAPs more preferable to metals
or other polymers. EAPs find applications in various end-use industries because
of their unique properties.
Contrary to conventional materials
(metals), EAP products are lighter in weight, durable, and have better conductive
properties. Moreover, these polymers can develop a strain of more than 100% and
have high actuation pressure per unit mass, which provide maximum (100%) change
in shape.
Among types, the inherently conductive
polymers segment is projected to grow at the highest CAGR between 2017 and 2022.
Inherently conductive polymers are undergoing extensive R&D activities, as
these are also expected to have potential applications in the field of
robotics, energy harvesting, coatings, medicals, and smart fabrics. Inherently
conductive polymers exhibit excellent optical and electrical properties, high
transparency, high environmental stability, low cost, and high process ability in comparison to other EAPs.
Electroactive Polymers (EAPs) are increasingly witnessing widespread
applications in various industries around the world. Electrostatic Discharge (ESD)
protection and Electromagnetic Interference (EMI) shielding are the major
applications of Electroactive Polymers (EAPs)
and account for the largest share in the electroactive polymers market. These
are also gaining use in various applications, ranging from sensors and
actuators for electronic appliances to artificial muscles and motion generating
devices.
Electroactive Polymers (EAPs) are being increasingly used in various applications
in the electronics industry, such as sensors, actuators, batteries, capacitors,
and antistatic packaging. Among applications, the actuator segment is projected
to grow at the highest CAGR between 2017 and 2022. Significant R&D activities
are being undertaken for various applications
of EA electroactive polymers. This is
helping them gain acceptance as an ideal material for actuators, energy harvesting,
space applications, automation control, and other industrial applications.
The Asia
Pacific electroactive polymers market is projected to grow at the highest CAGR between
2017 and 2022. The growth of the Asia Pacific electroactive
polymers market can be attributed to the rising
demand from Electrostatic Discharge (ESD) protection and Electromagnetic Interference
(EMI) shielding applications, coupled with economic growth in the region.
The European
electroactive polymers market is expected to witness moderate growth during the
forecast period. This moderate growth can be
attributed to growth in Electrostatic
Discharge (ESD) protection and Electromagnetic Interference (EMI) shielding
applications as compared to other regions. The slowing down of the economies of
the European region has further led to the gradual
shift of the manufacturing industry to the
emerging economies of the Asia Pacific, such as China and Japan.
Some of the key
players operating in the electroactive polymers market are Solvay (Belgium), Parker Hannifin (US) Agfa-Gevaert (Belgium), 3M (US),
Merck (Germany), Lubrizol (US), Novasentis (US), Premix (Finland), and PolyOne
Corporation (US), among others. Most of these
companies have adopted new product launches and mergers & acquisitions strategies
to strengthen their positions in the electroactive polymers market.
Reference:
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