Smart Polymers Market

Introduction of the Smart Polymers Market Report

Smart polymers are the materials composed of stimulus-responsive polymers that display a dramatic physiochemical change in their properties to very slight changes in their environment including temperature, light, and pH. The smart polymeric materials comprise a wide range of different compounds that can change their colour, shape, temperature in response to their environment.

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Market Dynamic

Key Drivers and Emerging Trends

Rapidly growing healthcare sector and the continuous advancement in the field of medicine coupled with rising use of smart polymers in efficient drug delivery and surgical procedures are some of the primary factors driving the growth of the smart polymers market size. In addition, according to the World Bank, in 2018, the healthcare expenditure is around 9.8% of the world GDP owing to the increasing focus towards the advancements of medical devices used in treatment, diagnosis, and prevention of diseases globally. This is expected to provide growth opportunities to the smart polymers market over the forecast period. Moreover, growing utilisation of stimuli-sensitive smart polymers in textile, automotive, biomedical, packaging owing to their benefits including biocompatibility, stability, and flexibility is propelling the market growth. Furthermore, increase in demand for shape memory polymer in the textile industry; thermos-responsive polymer in automotive sector; and photo-responsive polymers in robotics and electronics industry applications is further escalating the market growth.

Restraint in the Smart Polymers Market

However, high cost of technology development and complex smart polymer production are expected to hamper the growth of the smart polymers market. Additionally, lack of awareness and low clinical implementation of smart polymeric drug delivery systems is further restraining the market growth.

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Type – Segment Analysis

Based on the type, physical stimuli responsive polymers is expected to account for a significant share in the market primarily due to the high demand of thermo-responsive, photo-responsive, magnetically-responsive, and shape memory polymers in various industries such as biomedical & biotechnology, automotive, packaging, and textiles. Rising adoption of thermo-responsive polymers in intelligent packaging of food, drinks, healthcare, personal care, automotive, electronics, communications, and logistic materials is further contributing to the market growth.

End-Use Industry – Segment Analysis

Based on the end-use industry, the biomedical and healthcare segment is expected to hold a notable share in the market owing to the increasing application of smart polymers in drug delivery, cell carriers, 3D bio printing, minimally invasive surgery, tissue engineering, gene therapy, and precision medicine. Moreover, use of smart polymers in the development of advanced biomedical devices including artificial bones, pacemakers, hip and knee replacements, and dental implants are expected to drive the growth of the market.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a large share in the market primarily due to the high inclination of the government towards the improvement of healthcare services, and increasing demand of advanced drug delivery technology among consumers. According to the U.S. Centres for Medicare & Medicaid Services (CMS), U.S. health care spending grew 4.6% in 2019, reaching $3.8 trillion and the health spending accounted for 17.7% of the nation’s Gross Domestic Product. This is further expected to support the market growth in the region.

Top Market Players

Several Leading players operating in the market, include, Evonik Industries AG, Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel N.V., BASF SE, Covestro AG, E. I. Du Pont De Nemours and Company, Merck KGaA, and Natureworks LLC among others.

Key Developments: 

• • In 2020, Evonik Industries AG announced to build a new production complex for the high-performance polymer polyamide 12 (PA 12) in North Rhine-Westphalia, Germany. The company is intended to increase its overall PA 12 capacity by more than 50 percent and gain attractive growth markets including the automotive industry, oil and gas pipelines, and 3D printing. The complex is expected to become operational in early 2021.

Segments covered in the Report:

The global Smart Polymers Market has been segmented on the basis of type, end-use industry, and key regions. Based on type, the market is segmented into physical stimuli-responsive, chemical stimuli-responsive, biological stimuli-responsive, self-healing polymers, and others. Based on end-use industry, the market is segmented into biomedical and healthcare, electrical and electronics, textile, automotive, and others. 

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Key questions answered in this research report:

• • At what pace is global Smart Polymers Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Smart Polymers Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Polymers Market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various end-use industries of global Smart Polymers Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Evonik Industries AG, Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel N.V., BASF SE, Covestro AG, E. I. Du Pont De Nemours and Company, Merck KGaA, and Natureworks LLC among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Smart Polymers Market by Type

• • Physical Stimuli-Responsive
  • Chemical Stimuli-Responsive
  • Biological Stimuli-Responsive
  • Self-Healing Polymers
  • Others

Global Smart Polymers Market by End-Use Industry

• • Biomedical and Healthcare
  • Electrical and Electronics
  • Textile
  • Automotive
  • Others

Global Smart Polymers Market by Region

• • North America Smart Polymers Market (Option 1: As a part of the free 25% customization)
    • North America Market by Type
    • North America Market by End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Smart Polymers Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Type
    • Europe Market by End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Smart Polymers Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Smart Polymers Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Type
    • RoW Market by End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Smart Polymers Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Evonik Industries AG
  • Huntsman International LLC
  • The Lubrizol Corporation
  • Akzo Nobel N.V.
  • BASF SE
  • Covestro AG
  • I. Du Pont De Nemours and Company
  • Merck KGaA
  • Natureworks LLC
  • Nissan Chemical Corporation