PUNE, India, October 9, 2017 /PRNewswire/ --
The report "Smart Polymers Market by Type (Physical Stimuli, Chemical Stimuli, and Biological Stimuli Responsive Polymers), End-Use Industry (Biomedical & Biotechnology, Textile, Electrical & Electronics, Automotive), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 2,071.1 Million by 2022, at a CAGR of 21.9% between 2017 and 2022. The Smart Polymers Market is driven by the rising demand for smart polymers from the biomedical & biotechnology, textiles, electrical & electronics, automotive, food packaging, footwear, consumer goods, and aerospace & defense industries.
Browse 142 Market Data Tables and 37 Figures spread through 151 Pages and in-depth TOC on "Smart Polymers Market"
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Physical stimuli responsive polymers segment was the largest type of smart polymers in 2016
The physical stimuli responsive polymers segment was the largest type of the global Smart Polymers Market in 2016. These polymers respond to several stimuli such as temperature, light, pressure, electric field, and magnetic field. The growth of this type of polymers is attributed to the rising demand for innovative and efficient technologies from end-use industries such as biomedical & biotechnology, automotive, and textiles.
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Biomedical & biotechnology industry accounted for largest share of Smart Polymers Market in 2016
The biomedical & biotechnology industry accounted for the major share of the overall Smart Polymers Market in 2016. This is associated with the growing demand for smart polymers from several applications such as diagnostics, drug delivery, tissue engineering, cell culture, and phase separation processes in the biomedical & biotechnology industry. Moreover, smart polymers are biodegradable, biocompatible, easy to colour & mold, and can be easily modified. Hence, their adoption in the biomedical & biotechnology industry is gradually increasing.
Rising demand for smart polymers from North America expected to be the key factor driving the growth of the global Smart Polymers Market
North America is projected to be the leading market for smart polymers. The US is projected to be the largest and the fastest-growing market for smart polymers during the forecast period. Canada and Mexico are other major countries contributing to the growth of the Smart Polymers Market in the region. The increasing demand for smart polymers from end-use industries such as automotive, medical, textiles, and footwear is expected to drive the Smart Polymers Market in these countries.
The key companies profiled in the Smart Polymers Market research report are BASF (Germany), Lubrizol (US), Dow Chemical (US), Evonik (Germany), Advanced Polymer Materials (Canada), Spintech (US), Merck Group (Germany), Akina (US), SMP Technologies (Japan), Reactive Surfaces (US) and NEI Corporation (US).
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