Global Electroactive Polymer Market – Opportunities, Size & Growth Projections

Global Electroactive Polymer Market is projected to grow at an impressive CAGR during the forecast period due to an increase in end-use industries. In 2021, the market value of the Indian textile industry was worth USD 223 billion.

Over the next five years, the demand for Electroactive Polymers will increase due to the increased use of touchscreen smartphones, enhanced electroactive polymer properties, increased demand for lightweight and cost-effective polymers, increased use of eco-friendly materials, and the need for manufacturing flexibility. Due to the presence of numerous significant manufacturers, APAC is likely to continue to play an essential role in the electroactive polymer market over the forecast period. APAC is anticipated to see the highest CAGR of any region, supported by rising demand for electronic applications.

Growing Demand for Electroactive Polymer in Smart Fabrics

Sensing and Actuating microfibers are textiles directly woven with electromechanical systems like sensors, actuators, electronics, and power sources. Electroactive Polymers (EAPs) are suitable for usage as smart fabrics due to their adaptability and affordability. The development of smart fabrics uses polypyrrole and polyanilines. The need for EAPs in smart fabrics is anticipated to rise in the upcoming period due to increased R&D across countries like the U.S., China, and Japan undergoing dramatic economic expansion. According to the National Council of Textile Organizations, “In 2021, the value of U.S. man-made fiber, textile, and apparel shipments totaled an estimated $65.2 billion, compared with $60.8 billion in shipments in 2020”.

Rising Demand for Actuator Application Segment

Over the recent years, there have been technological advancements that have brought radicle development in the Actuators utilized as a significant application for Electroactive Polymers. Remarkable advances in upgrading the actuation strain of Novel Applications such as microfluidic systems and tissue engineering have also emerged, enabling the demand for Actuators resulting in the forecasted growth of the Global Electroactive Polymer Market.

Recent Trends and Developments

The Chomerics Division of Parker Hannifin Corporation, the global leader in motion and control technologies, has launched PREMIER PBT-225, EMI shielding conductive plastic pellets. When exposed to the usual heat and humidity conditions prevalent in automotive applications, PREMIERTM PBT-225 provides superior hydrolysis resistance, increasing long-term aging performance.

The Indian market for electronic devices had a total market value of INR 4580 billion (USD 66 billion), according to the Ministry for Electronics and I.T., and it has been growing at a rate of around 5.5% during the past four years. To achieve a turnover of around INR 26 trillion (USD 400 billion) by 2025, the National Policy on Electronics 2019 aims to boost domestic production and export in the whole value chain of Electronics System Design and Manufacturing (ESDM).

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Market Segmentation

Global Electroactive Polymer Market is segmented based on Type, Application, and Regional distribution. Based on Type, the market is segmented into Conductive Plastics, Inherently Conductive Polymers, and Inherently Dissipative Polymers. By Application, the market is further segmented into Electrostatic Discharge Protection, Electromagnetic Interference Shielding, Actuators, Capacitors, and Others. The market analysis also studies the regional segmentation divided among the North American, European, Asia-Pacific, South American, Middle East & African regions.

Market Profiles

Solvay S.A., 3M Group, Parker Hannifin Corporation, The Lubrizol Corporation, The Merck Group, Novasentis, Inc., Avient Corporation, The Heraeus Group, Ras Labs, LLC, Cedrat Technologies S.A. are some of the major market players in Global Electroactive Polymer Market.

Report Scope:

In this report, Global Electroactive Polymer Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Electroactive Polymer, By Type:

o   Conductive Plastics

o   Inherently Conductive Polymers

o   Inherently Dissipative Polymers

• Electroactive Polymer, By Application:

• • Electrostatic Discharge Protection
  • Electromagnetic Interference Shielding
  • Actuators
  • Capacitors
  • Others

• Electroactive Polymer, By Region:

• • North America
    • United States
    • Mexico
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Taiwan
    • Malaysia
  • South America
    • Brazil
    • Colombia
    • Argentina
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Electroactive Polymer Market.