Escalating demand from the electronics industry is one of the significant factors influencing market growth.
Electroactive Polymer Market Size – USD 4,475.5 Million in 2024, Market Growth – CAGR of 7.30%, Market Trends – Growing demand for smart fabrics
The global Electroactive Market is expected to reach USD 1,340.3 Million by 2028, according to a new report by Reports and Data. Electroactive Polymers are polymers that change their shape, size or volume on being stimulated to a strong electrical field. Of the several active materials, electroactive polymers have a noticeable presence owing to their large dynamic deformation potential, low density, high response speed, and improved resilience.
Application of electroactive polymer materials as actuators of artificial limbs and organs involves significant challenges, such as rejection avoidance, functional compatibility, and ability to meet the stringent requirements that are related to the use of these materials on or in humans. Currently, the electronically activated product appears to be the most applicable as they generate the largest actuation forces and possess the highest robustness.
Electroactive polymers find widespread application in the automotive industry where they are implemented as actuators and sensors. There is an increasing demand for materials that are not only lightweight but are also strong and durable. Automotive manufacturers are putting in efforts to accomplish this by the deployment of modern electroactive polymers in various automotive electronic components, including multiple sensors, accelerometers, and accelerator pedal modules. The high demand for vehicles are likely to boost the product demand in the forecast period.
Key participants include 3M, Parker Hannifin, Polyone, Solvay, Merck, Lubrizol, AGFA-Gevaert, Novasentis, Premix, and Heraeus, among others.
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Further key findings from the report suggest
- By product type, conductive polymers dominated the market in 2018 and is expected to grow at a rate of 6.7% in the forecast period. The high demand for this product type is owing to their use as antistatic materials for transparent displays, commercial displays, and organic solar cells, among others.
- By activation mode, electronic electroactive polymer contributed to a larger market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. These are driven by strong electric fields. The electrostatic forces result in an electromechanical change in the shape of the material. Typically they are applied as planar actuators owing to their large in-plane deformations.
- By application, actuators dominated the market in 2018 and are expected to grow at a rate of 7.3% in the forecast period. The significant advantage of electroactive polymers as actuators is a low power threshold and bio-compatibility for large deformations.
- North America held the largest market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. Spiraling expenditure on the development of advanced implant devices and minimally invasive surgeries in the U.S. is anticipated to drive the market demand in the upcoming years.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/electroactive-polymer-market
For the purpose of this report, Reports and Data have segmented the global electroactive polymer market on the basis of product type, activation mode, application, and region:
Product Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Conductive Polymer
- Inherently Conductive Polymer
- Inherently Dissipative Polymer
- Others
Activation Mode Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Electronic Electroactive Polymer
- Ionic Electroactive Polymer
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Actuators
- Sensors
- Antistatic Packaging
- Electrostatic Discharge (ESD) Protection
- Electromagnetic Interference (EMI) Shielding
- Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Electroactive Polymer Segmentation & Impact Analysis
4.1. Electroactive Polymer Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continue…..
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