Overview and Scope
Hyper elastic material refers to the hyper elastic or green elastic material, a type of constitutive model for an ideally elastic material for which the stress-strain relationship derives from a strain energy density function. The hyper elastic material is a special case of a Cauchy elastic material.
Sizing and Forecast
The hyper elastic material market size has grown strongly in recent years. It will grow from $16.19 billion in 2023 to $17.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to medical applications, sports and fitness equipment, consumer goods manufacturing, increased awareness of material properties, focus on lightweight materials, elastomeric applications..
The hyper elastic material market size is expected to see strong growth in the next few years. It will grow to $21.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising demand in aerospace, construction industry applications, customized product solutions, focus on sustainability, sustainable and eco-friendly materials.. Major trends in the forecast period include advancements in 3d printing technology, smart material integration, soft robotics and human-machine interaction, customization and personalization, research and development in material science..
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Segmentation & Regional Insights
The hyper elastic material market covered in this report is segmented –
1) By Type: Ethylene Vinyl Acetate, Thermoplastic Polyurethane, Butadiene Rubber, Silicone, Other Types
2) By Material: Metallic, Non-Metallic
3) By Application: Home Bedding, Construction, Aerospace, Railway, Automobile, Oil And Gas, Other Applications
Asia-Pacific was the largest region in the hyper elastic material market in 2023, and is expected to be the fastest-growing region in the hyper elastic material market report during the forecast period. The regions covered in the hyper elastic material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in the development of smart city construction Programs is expected to propel the growth of the hyper elastic materials market going forward. Smart city refers to a municipality that uses information and communication technologies (ICT) to increase operational efficiency, share information with the public, and improve both the quality of government services and citizen welfare. Rubber and rubber-like materials are typical representatives of hyper elastic materials, which are widely used in the construction of smart cities, aerospace, and engineering (rubber bearings, axle sleeves, and tires). For instance, in July 2021, according to an article published in the OECD, a France-based organization for economic cooperation and development, it was estimated that smart cities could generate 20 trillion dollars in economic benefits by 2026. Moreover, cities that leverage smart city solutions can improve their energy efficiency by 30% in 20 years. According to the Yonsei University Smart City Development Index, 33% of cities provide app- or web-based smart city services for public transportation, 23% do so for culture and tourism, and 8% do so for city administration. Therefore, the increase in the development of smart city construction programs is driving the growth of the market for hyper elastic materials.
Key Industry Players
Major companies in the market are developing elastic material that is impervious to gases and liquids in the hyper elastic materials markets. An elastic material impervious to gases and liquids exhibits both resilience and impermeability, allowing it to stretch and return to its original shape while preventing the passage of gases and liquids. For example, in February 2023, an international team of researchers has developed a technique that uses liquid metal to create an elastic material that is impervious to both gases and liquids. Applications for the material include use as packaging for high-value technologies that require protection from gases, such as flexible batteries. The new technique makes use of a eutectic alloy of gallium and indium (EGaIn). Eutectic means that the alloy has a melting point that is lower than its constituent parts. In this case, the EGaIn is liquid at room temperature. The researchers created a thin film of EGaIn, and encased it in an elastic polymer.
The hyper elastic material market report table of contents includes:
1. Executive Summary
2. Hyper Elastic Material Market Characteristics
3. Hyper Elastic Material Market Trends And Strategies
4. Hyper Elastic Material Market – Macro Economic Scenario
5. Global Hyper Elastic Material Market Size and Growth
….
31. Global Hyper Elastic Material Market Competitive Benchmarking
32. Global Hyper Elastic Material Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hyper Elastic Material Market
34. Hyper Elastic Material Market Future Outlook and Potential Analysis
35. Appendix
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