Smart Polymer Market to Exhibit an Incredible Growth of USD 19.31 Billion by 2029, Size, Share, Trends, Key Drivers, Demand and Opportunity Analysis

CHICAGO, Feb. 22, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Smart Polymer Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. To flourish in this competitive market place, businesses are highly benefited if they adopt innovative solutions such as this Smart Polymer market research report. The market analysis and insights included in this business document presents key statistics on the market status of global and regional manufacturers and is an essential source of guidance, which provides right direction to the companies and individuals interested in the industry. The report also throws light on the market drivers and market restraints with the use of SWOT analysis. The comprehensive Smart Polymer market report acts as a backbone for the success of business in any sector.

Data Bridge Market Research analyses that the smart polymer market is expected to undergo a CAGR of 17.05% during the forecast period. This indicates that the market value, which was USD 5.48 billion in 2021, would rocket up to USD 19.31 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand

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The term smart polymer contains an extensive range of compounds that can change their transparency or shape and colour in response to their environmental conditions. These polymers are smart due to their ability to respond in a very dramatic way. Smart polymers are also known as intelligent materials or stimuli-responsive polymers. These polymers are used in several applications include sensors and actuators such as biodegradable packaging, artificial muscles; production of hydrogels and in biomedical engineering.

The science and technology continues to grow at a constant pace due to steady research and development activities and advancements in technology. The importance of smart polymers is growing day-by-day due to their ability to undergo large physical, chemical or reversible changes in response to variations in the environmental conditions. They respond to many environmental stimuli such as electric field, pH, temperature, light, enzymes, and biomolecules. The "physical stimuli-responsive" is the highest growing stimulus segment of the market due to highly sensitive towards surrounding changes over the forecast period.

Recent Development

• In 2019, Evonik Industries AG had announced plans to manufacture a polyamide 12 (PA12) facility in Marl, Germany; and increase the manufacturing of transparent polyamides at the Marl Chemical Park. The expense of this project is estimated to be US$ 475.58 Mn. The PA12 manufacturing facility is expected to be operational in the first half of 2021. The new PA12 facility is projected to upsurge the overall capacity of PA12 by more than 50%.

Opportunities for Players:

• Surging demand of smart polymer in several industries

Smart polymers are widely used in several applications. For instance, these polymers are used in manufacturing sensors and actuators, hydrogels, and biodegradable packaging. Furthermore, smart polymers are widely used in healthcare and biomedical engineering, creating immense opportunities for the growth of the smart polymer market.

• Increase focus towards expansion

The major companies are mostly shifting their focus towards introducing new and innovative products and growing their production capacities into the smart polymer market to attain the competitive advantage. Also, the rising number of partnership for developing advanced smart polymer is projected to boost market growth.

Some of the major players operating in the Smart Polymer market are:

• BASF SE (Germany)
• Solvay (Belgium)
• DuPont  (U.S)
• Evonik Industries (Germany)
• Covestro AG (Germany)
• SABIC (Saudi Arabia)
• Autonomic Materials Inc, (U.S.)
• Nouryon (Netherland)
• Berkshire Hathaway Inc. (U.S.)
• Merck KGaA (Germany)
• The Lubrizol Corporation (U.S.)
• Spintech Holdings Inc. (U.S.)
• Akina, Inc. (U.S.)
• SMP Technologies Inc (Japan)
• NEI Corporation. (U.S.)
• Akzo Nobel N.V.(Netherland)
• NIPPON SHOKUBAI CO., LTD.(Japan)
• FMC Corporation. (U.S.)
• Huntsman International LLC. (U.S.)

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Critical Insights Related to the Smart Polymer Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

Market Dynamics: Smart Polymer Market

• Rising demand of physical stimuli-responsive polymer

Physical stimuli-responsive polymer has cover the largest share of overall market. These materials are highly sensitive to environment conditions such as changes in ultrasound, electric potential, temperature, UV radiations, and magnetic field. The rising demand of physical stimuli-responsive polymer are expected to drive the growth rate of the smart polymer market.

• Surging usage in drug delivery system

Smart polymers are extensively used in drug delivery system because these polymers maintain the stability of the level of drugs in therapeutic window, increase patient compliance and allow monitoring of the medication level. The rise in the importance of synthesis and design of effective drug delivery systems in the healthcare is anticipated to drive the smart polymers market growth. 

• Increasing demand due to favourable properties of smart polymers

Smart polymers contain favourable properties such as flexible, tough, resilient, and biocompatible. These polymers don't get damaged or get degraded easily. These factors have helped numerous end-user industries to adopt smart polymer in their key applications. Therefore, smart polymers are used in the production of smart materials such as phase change materials, smart textiles, sensors, actuators, and much more. The growing demand for these products are expected to drive the smart polymers market growth.

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Key Industry Segmentation: Smart Polymer Market

Type

• Shape Memory Polymers
• Electroactive Polymers
• Self-Healing Polymers
• Others

Stimulus

• Physical Stimuli-Responsive Polymers
• Thermo-Responsive Polymers
• Photo-Responsive Polymers
• Pressure-Responsive Polymers
• Electroactive and Magnetically-responsive Polymers
• Chemical Stimuli-Responsive Polymers
• PH-Responsive Polymers
• Biological Stimuli-Responsive Polymers   
• Enzymes-responsive Polymers
• Self-healing Polymers

End User

• Biomedical and Biotechnology
• Textile
• Electrical and Electronics
• Automotive
• Nuclear Energy

Regional Analysis/Insights: Smart Polymer Market

The countries covered in the smart polymer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the smart polymer market due to the increasing applications from several sectors such as biomedical, textile, automotive, electrical industries in this region.

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period due to the growth of various end-use industries and rapid industrialisation in this region.

Table of Contents:

1.  Introduction

2.  Market Segmentation

3.  Executive Summary

4.  Premium Insights

5.  Global Smart Polymer Market: Regulations

6.  Market Overview

7.  Global Smart Polymer Market, By Type

8.  Global Smart Polymer Market, By Stimulus

9.  Global Smart Polymer Market, By End User

10.  Global Smart Polymer Market, By Region

11.  Global Smart Polymer Market: Company Landscape

12.  SWOT Analyses

13.  Company Profile

14.  Questionnaires

15.  Related Reports

To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-smart-polymer-market

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