The electroactive polymer market was valued at US$ 3,890.00 million in 2019 and is projected to reach US$ 6,449.55 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027.
The electroactive polymer market is highly profitable for semiconductor and polymer producers, though the manufacturers would require high initial investment to alter from silicon to polymers. There are several forces that effect the electro-active polymers market. Cost is the most considerable factor prompting the electro-active polymers industry growth. The use of polymers in luminescent and robotics applications is cost-effective than the use of semiconductor and metals materials. The usage of electroactive polymers in the field of biomedicine and biomimetics could help address the global problem of rising healthcare costs.
In 2019, Asia Pacific is the largest market for electroactive polymer. The largest electroactive polymer market share of the region is primarily attributed to the presence of well-established players such as 3M, Arkema Group, and Solvay S.A. These countries are experiencing rising demand for the manufacturing and automotive industry. Apart from the electroactive polymers application in the automotive industry, electroactive polymers are extensively utilized in medical devices, aircrafts, electronics & appliances, industrial, and other industries. This wider application of electroactive polymers in the end-use industries in this region is further influencing the market growth.
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of March 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are some of the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there were 120,915,219 confirmed cases and 2,674,078 total deaths globally on 18th March 2021. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is amongst the major industries suffering serious disruptions such as supply chain breaks, production facility shutdowns, etc., as a result of this outbreak. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various chemicals and materials. Further, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemicals & materials industry in a negative manner, thus act as a restraining factor for the growth of various markets related to this industry in the coming months.
Global Electroactive Polymer Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Surging Demand for Smart Electronics
Developments in science and technology, especially in the electronics and semiconductors sector, have led to the advent of smart polymers that are capable of changing shape when stimulated by current. Smartphone is a key example of smart electronics that use components made from electroactive polymers, such as batteries, capacitors, proximity sensors, fingerprint sensors, and touchscreen sensors. Electroactive polymers also find use in smart computers, laptops, and tablets. With the ongoing research and development activities, companies are likely to come up with the use of electroactive polymers in computers for blind people via braille. Electroactive polymers are being used in electronic devices to expand the character limit while using braille and thus help the visually impaired people in communicating. According to a report by The Insight Partners, the global smart electronics market is expected to register a notable CAGR of ~7% during 2020–2027, thus depicting a strong potential for electroactive polymers in smart electronics.
Type Insights
Based on type, the electroactive polymer market is segmented into conductive plastic, inherently conductive polymers, inherently dissipative polymers, and others. The inherently conductive polymer segment led the electroactive polymer market with the highest market share in 2019. The inherently conductive polymer is a family of specialty conductive thermoplastic compounds, which fulfill uniform and precise surface resistivity throughout a resistivity spectrum from strong ESD to strong anti-static. These polymers are quite suited for disk-drive components, wafer processing, and cleanroom applications. They are advantageous in automotive applications needing static discharge protection like fuel system components. Other automotive uses of these polymers are body attachments such as mirror housings, door handles, bumpers, wheel covers, fenders, and interior parts.
Application Insights
Based on application, the electroactive polymer market is segmented into actuators, sensors, ESD and EMI protection, antistatic packaging, robotics, and others. The ESD and EMI protection segment led the electroactive polymer market with the highest market share in 2019. Side effects caused due to an electrostatic discharge (ESD) is an induced EMI (electromagnetic interference). The effects of undesired electromagnetic radiation or EMI on ungrounded or unshielded conductors are commonly underestimated. An ESD protection device can protect a circuit from an electrostatic discharge (ESD) to prevent a malfunction or breakdown of any electronic device. Electroactive polymers are utilized in such devices for EDS protection since these polymers have high physical and mechanical strength, and anti-static properties.
Global Electroactive Polymer Market, by Type– 2019 and 2027
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Electroactive Polymer Market: Strategic Insights
Market Size Value in US$ 3,890.00 Million in 2019 Market Size Value by US$ 6,449.55 Million by 2027 Growth rate CAGR of 6.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Electroactive Polymer Market: Strategic Insights
| Market Size Value in | US$ 3,890.00 Million in 2019 |
| Market Size Value by | US$ 6,449.55 Million by 2027 |
| Growth rate | CAGR of 6.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Lubrizol Corporation; Arkema Group; Solvay S.A.; Parker Hannifin Corp; Celanese Corporation; Avient Corporation; Agfa-Gevaert Group; Kenner Material & System Co., Ltd.; 3M; and Premix Group are among the key market players. Major players in the electroactive polymer market are focused on strategies such as mergers and acquisitions and product launch to increase the geographical presence and consumer base globally.
Report Spotlights
- Progressive industry trends in the global electroactive polymer market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global electroactive polymer market from 2017 to 2027
- Estimation of the demand for electroactive polymer across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for electroactive polymer
- Market trends and outlook coupled with factors driving and restraining the growth of the electroactive polymer market
- Decision-making process by understanding strategies that underpin commercial interest with regard to the global electroactive polymer market growth
- Electroactive polymer market size at various nodes of market
- Detailed overview and segmentation of the global electroactive polymer market as well as its dynamics in the industry
- Electroactive polymer market size in various regions with promising growth opportunities
Global Electroactive Polymer Market, byType
- Conductive Polymers
- Inherently Conductive Polymers
- Inherently Dissipative Polymers
- Others
Global Electroactive Polymer Market, by Application
- Actuators
- Sensors
- ESD and EMI Protection
- Antistatic Packaging
- Others
Company Profiles
- Lubrizol Corporation
- Arkema Group
- Solvay S.A.
- Parker Hannifin Corp
- Celanese Corporation
- Avient Corporation
- Agfa-Gevaert Group
- Kenner Material & System Co., Ltd.
- 3M
- Premix Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global avocado oil market are Lubrizol Corporation, Arkema Group, Solvay S.A., Parker Hannifin Corp, Celanese Corporation, Avient Corporation, Agfa-Gevaert Group, Kenner Material & System Co., Ltd., 3M, and Premix Group.
In 2019, Asia Pacific contributed to the largest share in the global electroactive polymer market. The market for electroactive polymers in APAC is witnessing growth owing to owing to the growing demand for the consumer electronics industry in the region. Furthermore, the growing urbanization coupled with the increasing population in Asia Pacific countries such as China, India, Japan, and South Korea is the major factor driving the demand for electroactive polymers. Moreover, North America also holds a significant market share of the electroactive polymers market owing to the rising medical device industry. According to the Select USA, the U.S. medical device industry is projected to rise to $208 billion by the year 2023. Therefore, with the growing medical device industry, the demand for electroactive polymers will also subsequently increase, which is projected to fuel the electroactive polymers industry in the North America and Asia Pacific during the forecast period.
Electrically conductive & static dissipative plastics guard components from failures also breakage prompted by uncontrolled electrostatic discharge (ESD) in electronics production & logistics. The electroactive plastics guarantee longer operating life for electronic devices. Conductive particles such as graphite and nanofillers are uniquely attractive to be applied as cases of electronic devices with electrostatic discharge properties (ESD) and electromagnetic shielding (EMI). Another attractive employment with a high technology result of conductive plastics is their potentialities as electronic sensors, actuators, which also react against an external stimulus, in this case, a deformation. The biggest advantage of electroactive polymers is their processability, mainly through dispersion. Some of the conductive plastics are polycarbazoles, polyindoles, polyazepines, and others.
The List of Companies - Electroactive Polymer Market
- 3M Company
- Agfa-Gevaert Group
- Arkema S.A.
- Celanese Corporation
- Kenner Material and System Co. Ltd.
- NOVASENTIS, INC
- Parker-Hannifin Corporation
- PolyOne Corporation
- Solvay SA
- The Lubrizol Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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