Smart Polymers Market:
Smart Polymers are composed of a wide range of macromolecules that reacts to a small change in the environment. They are also known as stimuli responsive polymers or intelligent materials. These polymers not only exhibit sensitive changes to environment but also return to their original state. The important trends and factors which are promoting the market confidently are strong, resilient, durable and reliable nature. Due to these features, they are used in various applications such as biotechnology and medicine, electrical & electronics, automotive, drug delivery systems, and others.
The characteristics of polymers which are determined by a change in environment factors such as pH, temperature, and others are known as smart polymers. They are also called stimuli response polymers or intelligent materials. These polymers are strong, resilient, durable, ecofriendly and reliable nature. Owing to these attributes, they are used in various applications such as biotechnology and medicine, drug delivery systems, and others.
Top Global Players: Some of the well-known players operating in the global Smart Polymers Market are, BASF SE (Germany), The Lubrizol Corporation (U.S.), Spintech LLC (U.S.), Akina, Inc. (U.S.), SMP Technologies Inc. (Japan), Evonik Industries AG ( Germany), Reactive Surfaces Ltd. (U.S.), Merck Group (Germany), NEI Corporation (U.S.), among others.
Market Categorization: The global Smart Polymers Market is categorized into stimulus type and application.
On the basis of stimulus type, the market is further classified into physical, chemical and biological responsive polymers. Of these, physical stimuli responsive polymers segment holds a major share in the market due to growing use of smart polymers for the manufacturing of biocatalyst, biometric actuators and bio analytical systems. On the basis of application, the market is further sub-divided into biotechnology and medicine, electrical & electronics, automotive, drug delivery systems, and others. Among these, biotechnology and medicine is the major player in the market due to rapid consumption of smart polymers in diagnostic and technological advancement in nano-engineering.
Regional Analysis: The Global Smart Polymers Market is segmented into five crucial regions of the world namely- Asia Pacific, North America, Europe, Latin America and the Middle East & Africa.
Among these, North America holds a major share in the market due to growing demand of physical stimuli responsive polymers in biotechnology and medicine, automotive, and other sectors. The increasing consumption of smart polymers in textile, automotive, electrical & electronics industries has propelled the market to witness the highest CAGR in the coming years. Owing to these factors, countries such as the U.S., Canada and Mexico are estimated to be the leading players in this region during the forecast period.
The Asia Pacific region is estimated to witness a higher growth in the Smart Polymers Market due to rapid industrialization coupled with technology and the growing use of products in heavy end industries such as automotive, textile, construction, and others. Therefore, China, Japan and India are estimated to be the major players in this region during the forecast period.
An enormous growth has observed in the European market due to growing consumption of Smart Polymers in manufacturing efficient phase separation processes and drug delivery systems. It is estimated that the rising disposable income in automotive, biotechnology and medicine segments has fuelled the market to witness a significant growth in the region. Owing to these factors, Germany, the U.K. and Italy are projected to be the major contributors to the market during the forecast period. The Middle East & Africa is predicted to witness a moderate growth in the market due to less awareness about the product. Moreover, a slow growth is estimated in the Latin American region due to lack of standardization and technological advancement.
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