North America Electroactive Polymers Market is expected to reach US$ 973.88 million by 2027


PRESS RELEASE BY The Insight Partners 06 May 2021

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Inherently Conductive Polymers Segment to Dominate North America Electroactive Polymers Market during 2019–2027

According to The Insight Partners market research study on “North America Electroactive Polymers Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application and Country,” is expected to reach US$ 973.88 million by 2027 from US$ 584.28 million in 2019. The market is estimated to grow at a CAGR of 6.7% from 2020 to 2027. The report provides trends prevailing in the North America electroactive polymers market along with the drivers and restraints pertaining to the market growth. Diversified application of electroactive polymers and components made from them and rise in the demand for smart electronics are the major factors driving the growth of the North America electroactive polymers market. However, the negative environmental impact in North America may hinder the growth of North America electroactive polymers market.

North America, especially the US, witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of electroactive polymers manufacturing activities; other chemical and materials manufacturing sector has subsequently impacted the demand for electroactive polymers during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of electroactive polymers components manufacturing projects, thereby reducing the demand for electroactive polymers. Similar trend was witnessed in other North American countries such as Mexico and Canada. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.

The market for North America electroactive polymers is segmented into type, application and country. Based on type, the market is segmented into conductive plastic, inherently conductive polymer, inherently dissipative polymers and others. In 2019, inherently conductive polymer segment held the largest share in North America electroactive polymers market. Based on application, the North America electroactive polymers is divided into sensors, actuators, ESD and EMI protection, antistatic packaging, robotics and others. The robotics segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the North America electroactive polymers market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North American countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for electroactive polymers.

Lubrizol Corporation, Arkema Group, Solvay S.A., Parker Hannifin Corp, Celanese Corporation, Avient Corporation, Agfa-Gevaert Group, Kenner Material & System Co., Ltd. and 3M are some of the leading companies in the North America electroactive polymers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the North America Electroactive Polymers market as follows:

North America Electroactive Polymers Market – By Type
  • Conductive Plastic
  • Inherently Conductive Polymer
  • Inherently Dissipative Polymers
  • Others
North America Electroactive Polymers Market – By Application
  • Sensors
  • Actuators
  • ESD and EMI Protection
  • Antistatic Packaging
  • Robotics
  • Others
North America Electroactive Polymers Market – By Country
  • US
  • Canada
  • Mexico
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