Smart Polymers Market Key Industry players: BASF SE, AkzoNobel, FMC Corporation, Sigma-Aldrich Corporation and Huntsman
Based on type of product, Smart
Polymers Market can be classified into chemical, physical biological
and biochemical stimuli-based polymers. This classification is done based on
the product response to different external stimuli. Physical stimuli based
smart polymers held a major chunk of overall smart polymers market in 2016. The
product is sensitive towards external changes in UV radiations, temperature,
magnetic field, ultrasound and electric potential.
The surge in demand for
intelligent materials showing low critical temperatures in biotechnology &
biomedical field shall positively influence physical stimuli-based products
demand. the biological stimuli segment is also anticipated to witness prominent
growth in the coming years owing to its extensive usage in biotechnology
applications such as protein purification and recombination processes. These
are sensitive to receptors and enzymes.
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Global Smart Polymers
Market size is slated to witness a significant CAGR in the forecast timeframe.
Smart polymers are used across various industries including pharmaceutical,
biomedical and many others owing to its versatile properties such as
biocompatibility, flexibility, pH sensitivity and stability at micro and macro
changes in surrounding.
The prime factor
responsible for smart polymers market growth in future is the increasing
consumption in biomedical applications. Curiosity about the product is steadily
gaining momentum especially in self-regulated and controlled drug delivery
fields. Moreover, the increasing awareness about environment compatible
products usage for long term sustainability across, textile, automotive,
biotechnology, electronics and energy sector is likely to fuel the smart
polymers market growth in future.
In automotive sector,
shape memory polymers (SMP) are gaining popularity due to its ability to
self-heal in event of any damage. Variable advanced features in automobiles due
to SMP usage opens new growth avenues for the product in the near future. The
major hurdle in the smart polymers market growth is the huge investment
involved in research & development, which eventually results in inflated
cost of final product.
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Asia Pacific is likely to
lead the smart polymers market over the forecast duration. This can be
attributed to the industrialization of major end-user industries such as
textile, automobile, electrical & electronics. Latin America and Middle
East & Africa shall witness sluggish growth in the coming years owing to
the low product & similar technologies awareness and lack of
standardization of product manufacturing process as compared to other countries
in North America, Europe & Asia Pacific.
The prominent share
contributors operational in smart polymers market are BASF SE, AkzoNobel, FMC
Corporation, Advanced Biopolymers AS, Sigma-Aldrich Corporation and Huntsman.
Other companies include Covestro AG, Nexgenia Corporation, Advanced Polymer
Materials Inc., Lubrizol Corporation, Acros Organics, Autonomic Materials Inc.
and The Dow Chemical Company. Companies
are constantly investing in research & development activities to enhance
product properties and make its usage more prevalent in industries other than
the aforementioned ones. Autonomic Material Inc. is engaged in smart polymers
production, which can adapt and repair themselves post damages caused by any
external environment factor.
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Smart Polymers Market Key Industry players: BASF SE, AkzoNobel, FMC Corporation, Sigma-Aldrich Corporation and Huntsman
Reviewed by snehal
on
July 16, 2018
Rating:
Reviewed by snehal
on
July 16, 2018
Rating:
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